World News – CA – SoftBank discusses a « slow-burn » overbought to go private

(Bloomberg) – SoftBank Group Corp. . is debating a new strategy to go private by gradually buying back outstanding shares until founder Masayoshi Son has enough stake to squeeze out the remaining investors, according to those familiar with the matter.

The approach would likely take more than a year and mean the Japanese company continues to sell assets to fund successive buybacks, people said, asking not to be identified because the plan is private. Son wouldn’t buy any more shares himself, but his stake, which is now 27%, would increase as other investors sell shares. According to Japanese regulations, Son could force other shareholders to sell if it reaches 66% of the shares, possibly without paying a premium.

One perk of the plan, which insiders have dubbed « slow motion » or « slow motion » buying, is that according to the population, SoftBank will have the flexibility to buy its own stocks if they fall. In the event of a formal buyout, a premium of around 25% would have to be paid. . Shareholders are also likely to support buybacks, especially as the company continues to trade at a discount to the total value of its holdings in Alibaba Group Holding Ltd. companies. and Uber Technologies Inc. . to DoorDash Inc. .

The billionaire didn’t say he thought SoftBank was better off as a public company until February. More recently, he declined to comment on his plans after reports of a possible buyout were released in publications including Bloomberg News.

« If our stocks fall, I’ll buy back more stocks more aggressively, » Son said at a conference in November. SoftBank declined to comment on this story.

Son has been debating the idea of ​​going back and forth privately for at least five years. When SoftBank’s shares fell in March with the coronavirus pandemic, he began talks with advisors and lenders, including Elliott Management Corp.. . and Abu Dhabi sovereign wealth fund Mubadala Investment Co. . Despite SoftBank’s market capitalization of around $ 50 billion and three times that amount of assets, banks were hard to convince. They offered unfavorable conditions and torpedoed the talks, said one person involved in the negotiations.

Instead, Son revealed plans to sell approximately $ 43 billion in assets to pay off debt and buy back shares. By June he had dumped $ 13. 7 billion Alibaba shares, an even larger portion of its stake in T-Mobile US Inc. . and some shares in SoftBank Corp.. . , its Japanese telecommunications unit. Then he went further and announced the sale of Arm to Nvidia Corp.. for around 40 billion US dollars, the stake in SoftBank Corp.. . by about a third and sale of a majority stake in the telephone distribution company Brightstar Corp.. .

Son says he’s now sitting on $ 80 billion in cash. The robust IPO has also brought some big gains for SoftBank on investments, including China’s KE Holdings Inc. . and DoorDash.

SoftBank’s market value is up, however, with a rally of more than 160% since the March low. The value of the stock outside of his control is approximately $ 87 billion.

SoftBank is under no obligation to publicly announce buyout plans unless it takes specific steps such as setting up a special committee to review the offer or obtaining letters of intent from banks to finance the offer, according to one of the known people. The disclosure rules in Japan, where management buyouts are rare, have gray areas that would give SoftBank room to maneuver, the person said.

Son can still do a traditional management buyout if the stock price drops below a certain level, one of the respondents said, declining to provide certain numbers. Elliott, SoftBank’s largest outside shareholder, would attend, provided the stock was still trading at a discount to its underlying, according to someone else. The Japanese conglomerate is also less indebted today and a much easier tool for banks than it was in March, the person said.

After the buyback 1. SoftBank holds 35 trillion yen of shares this year and holds approximately 12% of the outstanding shares. Son controls about 26. 8% by different companies. The company has already announced plans to buy back 1. Another 5 trillion yen by July next year. At yesterday’s closing price, this would increase Son’s stake to less than 35%, a long way to a decisive majority.

Some analysts are skeptical that in the face of challenges like this, Son would seek a buyout – and its propensity to use cash on ambitious deals.

« Until this year, Son has shown little appetite to tackle the rebate with buybacks, » said Atul Goyal, senior analyst at Jefferies. « Are we supposed to believe that now he’s going to be spending years and all of SoftBank’s money on this program instead of doing what he really loves – making big stakes in technology? »

The problem with a slow burning MBO strategy, Goyal says, is that the buybacks are likely to add to the cost of the potential deal. Even if Son manages to increase his personal stake in the company to 66%, Goyal is not convinced that he can carry out the buyout without a challenge from minority shareholders.

Many at SoftBank are also against the idea of ​​going private. The sheer amount of cash is an obstacle. Privatization is also likely to cause a setback for rating agencies, making it difficult to refinance billions of dollars in corporate bonds, one person said. A buyout would actually prevent Son from doing big business for a year and a half, a factor that gives him food for thought, another person said.

In February, when considering the idea of ​​a buyout, Son said he had decided not to pursue a deal after giving it serious thought. Keeping SoftBank public would allow shareholders to participate in the company’s growth and enforce management discipline, including transparency, he said at the time.

What are value stocks? A value stock traditionally has a lower price than the stock prices of companies in the same industry. This suggests that the company may be undervalued as investors show less interest in such companies. The most common way to check value is by price / earnings ratio (P / E). A low P / E multiple is a good indication that the stock is undervalued. Below is a list of notable value stocks in the tech sector: 1. Viomi Technology Co (NASDAQ: VIOT) – P / E: 9. 69 2. MIND C. . T. . I. (NASDAQ: MNDO) – P / E: 9. 81 3. Nortech Systems (NASDAQ: NSYS) – P / E: 5. 69 4. Eltek (NASDAQ: ELTK) – P / E: 9. 78 5. VirnetX Hldg (NYSE: VHC) – P / E: 1. The earnings per share of 3Viomi Technology Co for the third quarter are 0. 07, while it was 0 in the second quarter. 02. Viomi Technology Co doesn’t have a dividend yield that investors should consider when considering holding onto such a stock. MIND C. . T. . I. was presented as a value stock. MIND C. . T. . I. Q3 EPS of Q3 is 0. 07, which has not changed since the last quarter (Q2). The company’s most recent dividend yield is 11. 0%, which has decreased by 0. 36% of 11. 36% last quarter. Nortech Systems earnings per share for the third quarter is -0. 35, while it was -0 in the second quarter. 05. Nortech Systems doesn’t have a dividend yield that investors should consider when considering holding onto such a stock. Eltek saw its earnings per share decrease from 0. 16 in Q2 to 0. 14 now. Eltek doesn’t have a dividend yield that investors should consider when considering sticking to such a stock. VirnetX Hldg posted a -0 decline in earnings per share. 08 in Q1 to -0. 11 now. VirnetX Hldg does not have a dividend yield that investors should consider when considering holding onto such a stock. Meaning: A value stock may take some time to recover from its undervalued position. The risk of investing in a value stock is that it may never happen. More information from Benzinga * Click here for option deals from Benzinga * ROCE Insights for Netflix * ROCE Insights for SmileDirectClub (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

AbCellera is expected to evaluate its IPO on Thursday and start trading the next day. The company is offering 23 million shares at $ 14-17 each and could raise $ 391 million at the top of its expected range.

Reducing CO2 emissions is the fashion of Green Policy Wonks these days. Whether you believe in the effectiveness of these guidelines or not, one thing is beyond dispute: they affect your daily life. In particular, they affect the cars you drive – and likely your fuel and electricity bills too. It’s no secret that the Trump administration favored the oil and gas industry, and in fact, gasoline prices have fallen over the past four years. It is expected that the future Biden government will judge the environmentally friendly policy, especially the electrification of the automobile fleet, far more favorably. Electric vehicles have been with us for a while and some models are gaining popularity and driver approval. The next step will be a government push through politics to build electric vehicles cheaper, more affordable to buy and make them more practical on the go. In a recent report by Goldman Sachs, the investment giant predicts worldwide sales of electric vehicles of 1. 8 million units this year, including 8. 3 million by 2025 and an impressive 34 million by 2035. The result will be an 18% reduction in the conventional car to electric car ratio. With this in mind, Goldman equity analysts are tapping into two electric vehicle manufacturers that are likely to thrive in the climate of the next four years – and one that is being watched from the sidelines. We used the TipRanks database to get a better sense of what other Wall Street analysts think of the trio. Li Auto (LI) Li Auto is one of the innumerable EV manufacturing companies that has popped up in China in recent years. The Chinese domestic auto market shouldn’t be overlooked – the country has a population close to 1. 4 billion, including around 800 million in urban areas, and overall China is growing rapidly and prosperously. Li specializes in plug-in hybrids that combine internal combustion engines and an electric powertrain – and are especially useful in a country with a limited EV charging system. Li’s first model, the Li ONE, was launched last November. By last October, the company had over 22. 000 cars sold. This month, the sales volume reached 3. 700, making it the best-selling Li ONE China electric vehicle model. This company is a newcomer to the US stock markets after it went public in late July this year. Stock debuted in the market at $ 11. 50, higher than the originally projected area. Since the IPO, the shares in LI have increased 173%. On Li Auto for Goldman Sachs, analyst Fei Fang said, “We believe Li Auto differs from the broader Chinese auto industry by delivering and creating compelling experiences for EV consumers – and by showing willingness to risk unconventional technology and risk enter into action innovatively … drive transformations that lead to the long-term introduction of electric vehicles in China. We view Li ONE as the first step in a larger innovation plan that offers significant optionality value to the stock price. To this end, Fang LI values ​​a Buy along with a price target of $ 60. At the current level, this means an upward trend of 91% for one year. (To see Fang’s track record, click here. ) Given the consensus breakdown, Wall Street is optimistic about LI. 3 buys and 1 hold in the last three months make the stock a « strong buy ». ‘It should also be noted that it is $ 36. The average target price of 65 indicates an upward movement of 16% compared to the current share price. (See LI stock analysis on TipRanks) Tesla (TSLA) No need to introduce this company. Elon Musk, with his advertising and notoriety genius, has taken care of this for the past few years. He was supported by the company’s successful efforts to resolve quality controls and production bottlenecks while introducing popular new models. The result: TSLA shares rose 667% in 2020. The tremendous surge in stock value has accompanied record profits. Tesla became profitable in the third quarter of 19 and has remained so despite the impact of the corona. The company’s third quarter 20 results were nothing short of remarkable. Sales rose to $ 8. 8 billion, a 39% year-over-year gain, and an even larger sequential gain of 46%. The EPS increased by 105% to 76 cents per share compared to the previous year. And even better for the automaker, free cash flow is solid at $ 1. 4 billion for the quarter. The third quarter results were on a solid foundation for production and delivery. The company reported 145. 000 vehicles manufactured in the quarter and nearly 140. 000 were delivered. Improvements in delivery efficiency have helped the company reduce its inventory of new vehicles. Goldman analyst Mark Delaney is optimistic about Tesla – and the future of the EV sector in general. He writes: “We believe that the transition to the adoption of electric vehicles (EV) will accelerate and occur faster than previously thought. We believe battery prices are falling faster than previously expected, which will improve the economics of owning electric vehicles, and recently there has been a surge in regulatory proposals from some jurisdictions to completely restrict or ban the sale of new internal combustion engine (ICE) vehicles 10-20 Years. Delaney supports his bullish stance by giving TSLA a buy. Its target price of $ 780 indicates an upward movement of 21% over the next 12 months. (To see Delaney’s track record, click here. ) Despite, or perhaps because of, the huge gains in recent months, Wall Street remains cautious on Tesla. The Analyst Consensus Rating is a hold based on 25 reviews including 10 buy, 8 hold and 7 sell. The stock’s average target price is $ 403. 24, indicating a possible downward trend of 37% from current levels. (See TSLA stock analysis on TipRanks. ) Nio (NIO) Last on our list is Goldman’s neutral call to Nio, another Chinese electric vehicle manufacturer. In the past few months, Nio has managed to stand out from the crowded Chinese electric vehicle market and introduce new models and innovative ideas. The company’s current range includes three medium-sized SUVs with lithium-ion batteries and a sports car, a two-door coupé with water-cooled electric motors. The company has several models, including two sedans, a minivan, and another SUV, which are slated for future release. The customer-oriented ideas that Nio works with include “Battery as a Service” or BaaS. This concept separates the battery from the vehicle so that car owners can purchase a monthly subscription and “refuel” their vehicle by replacing the battery assembly. While earnings are still showing a net loss, they have been improving over the past four quarters and third-quarter revenue was $ 4. 53 billion, the best in over a year. Since the beginning of the year, NIO shares have seen tremendous growth – the share gained over 1000%. Given that Nio is strong in its leadership position in the marketplace, Goldman’s Fei Fang writes of the risks: “Although Nio’s brand has been impressively established, we expect competition to intensify in the years to come, when large OEMs bring comparable models like ID4 to market and model Y … If our forecast battery price drops / overcapacities do not come through and the industry works with scarce production capacities and high prices for EV components, this would weigh on Nio’s margin expansion. Fang gives NIO shares a neutral (i. e. Hold) rating. But the analyst might as well have said « buy » – because he currently holds the stock at $ 45. 11, could zoom to $ 57 in a year and bring new investors 31% profit. Overall, the Nio share receives a consensus rating for analysts with moderate buys, based on 7 buys and 4 holds. Meanwhile the 49 dollars. The average target price for 01 implies an uptrend of almost 9%. (See NIO stock analysis on TipRanks. ) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

Every week Benzinga conducts a sentiment survey to find out what traders are most excited about, what interests them or what they think about when managing and building their personal portfolios. We surveyed a group of over 300 investors on whether shares of Nio Inc (NYSE: NIO) would hit $ 100 by 2022. Nio Stock Forecast In the short term, Shanghai-based EV maker Nio continues to attract investor attention amid significant earnings growth. Nio operates in the Chinese premium electric vehicle market. The company jointly designs, manufactures and manufactures intelligent and connected premium electric vehicles and drives innovation in next-generation technologies in the areas of connectivity, autonomous driving and artificial intelligence. The result for 2020 is rounded off by Nio on Nov.. . 17 reported results above the consensus of the third quarter thanks to strong shipments and margin improvements. Sales increased by 146. 4% compared to the previous year and 21. 7% consecutively $ 666. 6 million. This corresponds to revenue of $ 262 last year. 47 million. The company also issued a strong outlook for the fourth quarter. Nio trades at $ 46. 56 at time of writing, up from the 52-week low of $ 2. 11. Mostly 76. 5% of Benzinga dealers and investors said Nio would actually hit $ 100 per share by 2022. Our study found that investors are saying the EV sector will explode in 2021. Nio could emerge as a leader in this sector. Among traders and investors who believe Nio stock will hit $ 100 in the next year, one respondent said, « Nio has excellent technology with its extensive network of battery charging and power exchange facilities. New EV models have been reported and are being introduced. When they start selling to Europe and the US, they will cost over $ 200. « Benzinga has been publishing actionable financial news and curating high quality financial data sets since 2009. Learn more about receiving stock and market data via APIs today. This survey was conducted by Benzinga in December 2020 and included responses from a diverse population of adults aged 18 and over. Participation in the survey was entirely voluntary, with no incentives to potential respondents. The study reflects results from over 300 adults. See More From Benzinga * Click Here For Benzinga Option Deals * Will Nio or Xpeng Stocks Grow More By 2025? (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

When starting the electric vehicle battery (QA), the lithium metal solid state batteries can be 80% full in 15 minutes without affecting the life or safety of the battery. When QuantumScape (ticker: QS) technology scales, it means a typical electric vehicle with one charge remaining – and with 200 or 300 miles per charge area – can reach around 200 miles of range in less than 15 minutes. Quantum released its data ahead of the company’s Solid State Battery Showcase, which begins at 11 am. m. Easter time.

Wall Street is all about tech and mega caps and small caps, cyclicals and value. Investors have turned their back on the big names that have been driving the record strain on the market since the March low to promote the news about COVID-19 vaccines. At the same time there was a weaker U. . S.. . Dollar, steeper yield curve and a rise in commodity prices. What does it all mean? According to Raymond James’ strategist Tavis McCourt, this is « an indication of investor belief in strong economic growth in 2021, fueled by the economic reopening and a » wall of money « on bank accounts that will be deployed in the real economy in 2021. The strategist adds that investors’ focus has landed directly on a new stimulus package that “only increases the chances of robust growth in 2021 if economies fully open up again. « This outweighed significant signs of a slowdown in economic development (employment growth, Visa credit / debit card spending, Bloomberg high-frequency data) that the market generally sees as a short-term phenomenon until vaccines are deployed as PMs continue to reposition their portfolios. « in preparation for economic reopenings, » said McCourt. With McCourt’s outlook in mind, we wanted to take a closer look at two penny stocks that have received rave reviews from Raymond James. These tickers, which trade for less than $ 5 per share, could gain over 200% over the next year, the company’s analysts say. Using TipRanks’ database, we figured out what exactly makes both of them so compelling despite the risk involved in these games. ADMA Biologics (ADMA) ADMA Biologics is an end-to-end commercial biopharmaceutical company and develops special products made from plasma for the prevention and treatment of infectious diseases in immunocompromised and other infected patients. Currently go for $ 1. Raymond James believes now is the time to pull the trigger. Representing the company, analyst Elliot Wilbur notes that the company’s key products, Asceniv and Bivigam, will continue to generate solid sales after commercialization. Both products were developed for the treatment of primary humoral immunodeficiency (PI). . “We believe the most recent numbers have benefited from inventory accumulation resulting from the increasingly positive positioning of plasma therapies for possible use in COVID-19, with year-over-year growth of 2 since September. 0% for the IG area and (2. 9%) for the IVIG subsector, ”explained Wilbur. Highlighting Gilead’s remdesivir approval as a COVID-19 treatment, Wilbur notes that it “is only a treatment and cannot be taken preventively, leaving the door open to plasma therapies that focus on vaccine development. The analyst then stated: “The CoVig-19 plasma alliance continues to lead the vaccine competition. A coalition of leading plasma players is working with the National Institute for Allergy and Infectious Diseases (NIAID) to test hyperimmune therapies against COVID-19. The alliance, made up of key players such as CSLBehring, ADMA, Octapharma and Takeda, aims to accelerate the development of plasma therapies for COVID-19 and support future regulatory clearance for related therapies. . . Before the results of the 500-patient study, Allianz began manufacturing the plasma treatment, with the likelihood of positive results and possible approval being rated as « very high ». . In addition to the good news, ADMA will meet its goal of 5 to 10 plasma collection centers by 2025. The company reaches on 1. December launched the Biologics License Application (BLA) for its third collection center. This center will go through an estimated 12 month approval process that includes both a BLA review and a site inspection. According to Wilbur, approval could take place in the fourth quarter of 2021. In line with its optimistic approach, Wilbur rates ADMA as outperform (i. e. Buy) along with a target price of $ 7. Should his thesis prevail, there could be a potential gain of 260% in the cards. Do other analysts agree? you are. Only 5 buy ratings were given in the last three months, so the consensus rating is a strong buy. Given the $ 6. 65 average target price, stocks could soar 242% next year. (See ADMA stock analysis on TipRanks) InflaRx NV (IFRX) InflaRx makes breakthrough discoveries in the generation of anti-C5a antibodies and develops highly specific monoclonal antibodies that target activation products of the complement system. Based on data from his colleague, Raymond James believes that the $ 4 stock price is an attractive entry point. ChemoCentryx recently reported the results of the Phase 2 AURORA study of the C5aR inhibitor avacopan in hidradenitis suppurativa (HS), where the therapy missed its primary endpoint in all patients, but in a pre-defined ITT analysis of Hurley patients at the stage III dose tested in the only active patient worked. Raymond James analyst Steven Seedhouse sees a positive read through for InflaRx. “A home run result for CCXI would have been negative for IFRX. This is because, while it would have provided evidence of the mechanism in HS (which is missing), it would have competitively weighed IFX-1 in HS, but it also suggests that avacopan is just a better molecule in general (if it’s in a would have worked properly) indicating where the IFX-1 phase 2 data was inconclusive), ”explained Seedhouse. This does not mean that a failure for ChemoCentryx would have been a win for InflaRx. According to Seedhouse, it would have « completely destroyed the mechanism in HS, knowing that avacopan works elsewhere (ANCA vasculitis). . In addition, InflaRx initiated the phase 3 part of the phase 2/3 PANAMO study in patients with severe COVID-induced pneumonia. As Alexion finds that their Phase 3 study in hospitalized COVID-19 patients with severe pneumonia or ARDS is already 30% enrolled and is expected to include initial data from a planned interim analysis in the first half of 21, Seedhouse argues that a positive Result “would likely have a positive read through for IFRX when validating the complement mechanism in COVID-19. On the basis of all these points, Seedhouse rates IFRX with an outperformance (i. e. Buy) along with a price target of $ 15. This target sees an upside potential of 273%. (To see Seedhouse’s track record, click here. ) There were 3 buys and 1 hold assigned in the last three months. Therefore, IFRX has a strong consensus among buy analysts. With an average price target of $ 10. 50, stocks could rise 161% in the coming year. (See IFRX stock analysis on TipRanks. ) To find great ideas for trading penny stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that brings together all of the insights into TipRanks stocks. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

I am 63 years old and have been unemployed since March. Unemployment benefit runs out by December. 24. Here’s my question: is this a good time to use Social Security to subsidize my gig work, or should I wait until my full retirement age? See: Confused About Social Security – Including Spouse Benefits, Eligibility Strategies, and How Death and Divorce Affect Your Monthly Income?

Although it is one of the most famous wireless carriers in the US. S.. . The AT&T share had a tough 2020. But the stock has some advantages. Is it a purchase?

Dow Jones futures were in focus late Tuesday as Apple shares neared a new buy point. Five exchange leaders are in or near buy zones such as DraftKings.

As 2020 comes to an end, there is finally hope that 2021 will be a better year from a health and safety perspective. Dozens of millions of Americans could soon get a vaccine against the novel coronavirus, and hundreds of millions are expected to follow suit in the coming months. Many are now cautiously optimistic that a successful introduction of vaccines can lead to a return to normal. This would mean restaurants, one of the hardest hit areas during the pandemic, can safely dine both indoors and outdoors with fewer restrictions. Investors looking to buy restaurant stocks tied to a possible economic reopening have several options. Below is a list of some restaurant holdings highlighted by three professionals who will benefit from a very supportive environment over the coming months. Andrew Strelzik, BMO Capital Markets Analyst at Bloomin ‘Brands, recently switched Outback Steakhouse’s parent company Bloomin’ Brands Inc (NASDAQ: BLMN) from Market Perform to Outperform in mid-November. The price target was raised from USD 17 to USD 22. According to the analyst’s calculations, Bloomin’s branded portfolio can generate an upward margin even if the volume of domestic dine-in units is 5% below the 2019 level. The company has a path to additional upside as small independent restaurants continue to close their doors and fewer dining options available to hungry customers, the analyst said. What makes Bloomin stock remarkable is the company’s estimates, which imply the company is failing management’s own goals. In particular, there is upside potential for the stock when operating margins are around 6. According to BMO 4% compared to the management’s internal target of 7%. McDonald’s Legendary fast food giant McDonald’s Corp (NYSE: MCD) may have been better positioned than competing fast food restaurants during the pandemic. The company was actively involved in improving its drive-through and delivery business prior to the start of 2020. However, as we head into 2021, McDonald’s will remain a restaurant inventory, Pete Najarian said on CNBC’s November « Mid-Term Report ». 16. McDonald’s is « getting bigger and bigger » in the digital universe and that will prove to be a winning strategy, he said. Investors should be open to the reality that it can take years to fully return to normal. Until then, consumers can still prioritize digital ordering, which is seen as a much safer option. At Starbucks Starbucks Corporation (NASDAQ: SBUX), morning traffic has certainly decreased as many regular customers are still working from home. But what makes the stock stand out before the vaccine was launched is how it has remained fresh on everyone’s lips. The coffee chain in particular created such a « level of urgency » during its annual « Red Cup Day » in November. 6, according to data analysis company Placer. ai. In fact, the chain saw a « massive » surge in pedestrian traffic to the point where it was the third busiest day in recent times after Black Friday 2019 and December. 26, 2019. The coffee chain may not have missed a step in adapting to the changing wants and needs of consumers. There are many reasons to believe that the morning Starbucks pick up routine will resume when millions of people may return to their offices. See More From Benzinga * Click Here For Benzinga Option Deals * Gene Munster On What DoorDash, Airbnb IPOs Mean To FAANG Stocks * Cramer On Cruise Stocks: « The Robinhood People Were Right » (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

In late 2018, Canada fully legalized cannabis nationwide for medical and recreational use. With the new Biden administration, the US is expected to legalize, or at least formally decriminalize, federally in the next four years. A precise schedule cannot be foreseen; Much will depend on the political make-up of Congress after the Georgia Senate runoff in early January. Right now, cannabis legalization in the US is kind of a chessboard. Most states are at least partially legalized, with only Idaho and Nebraska holding out. Eleven states have fully legalized cannabis for all adults. The remaining 37 states have some form of partial medical use, and even Nebraska has decriminalized the substance. According to federal law, cannabis remains an illegally controlled substance. Cantor analyst Pablo Zuanic recently met with several executives in the cannabis industry and came back with a couple of takeaways. « [The] speakers believe that under a Senate controlled by Biden WH and Republicans, banking reform would be passed in early 2021 and included in a COVID bailout [. . . ] In general, both speakers believe that measured progress in legislation is the best way to go at the federal level, and expect that a version of the STATES law (making cannabis nationwide) will pass the Senate post in the next half (this could take place earlier in the EU) Event of a 50:50 split in the Senate and a Biden WH). Other changes (dismissal, federal legalization) may take longer, « Zuanic noted. Zuanic has been preparing for possible changes and has been reviewing several cannabis stocks operating in the American market. Using the TipRanks database, we retrieved the statistics for three such stocks that have the classic “growth stocks” profile: lots of upside potential, recent strong stock appreciation and a strong buy rating from the analyst consensus. Curaleaf (CURLF) We’ll start with Curaleaf, which is valued at $ 7. 7 billion market capitalization, is one of the largest cannabis companies in the world. Curaleaf is the world’s largest cannabis producer by sales. This position was consolidated with the takeover of private competitor Grassroots earlier this year. Curaleaf operates in 23 states, including 30 processors, 88 pharmacies, and 134 pharmacy licenses. Curaleaf grows its product in 22 growing areas with a combined 1. 6 million square meters of cultivation capacity. Curaleaf’s performance this year, both in terms of financial results and in terms of stock appreciation, shows the potential of the US cannabis market. The company reported $ 193. 2 million third quarter revenue for a sequential increase of 59% and an even more impressive year-over-year growth of 164%. The gains were driven by retail sales, which tripled year over year to 135. 3 million and wholesale sales that posted a massive 7x year-over-year gain to $ 45 million. While Curaleaf reported a net loss for the third quarter, that loss was just 1 cent per share, with analysts expecting double that. Curaleaf shares are up 85% year-to-date. While trading with the company has been volatile, it has regained all of the COVID-related losses from last winter. Zuanic, who covers that stock for Cantor, writes, “We believe that the company’s economies of scale, ability to raise funds (US $ 1 billion) is essential. USD shelf) and the continued expansion of the business and cultivation warrant a peer review premium … [Curaleaf] did not provide guidance for 2021 but the assumption is that there will be growth above the annualized value of 1 billion. USD, which is expected to exit in 2020. Zuanic supports this bullish stance and gives the stock an overweight (i. e. Buy) rating and its target price of $ 20 suggest there is room for 71% growth in 2021. (To see Zuanic’s success story, click here. Overall, CURLF stocks receive a strong buy rating from analyst consensus based on an 8: 1 mix of buy and hold ratings. The shares trade at $ 11. 69 and their $ 14. The average target price of 87 implies a one-year upside potential of 27%. (See Curaleaf stock analysis on TipRanks) Green Thumb (GTBIF) Green Thumb is a Canadian company that gained a foothold in the US market. While Canada’s statewide legalization regime offers an advantage over the fragmented one, the U.S. is a far larger market, with nearly 10 times Canada’s population. Green Thumb’s products include groceries, pre-rolled joints and vapes, and a range of CBD-infused wellness items for the home health market. In the past two months, the company’s market cap has increased from $ 3. $ 3 billion to $ 4. 6 billion. That growth in market capitalization was fueled by massive stock appreciation. GTBIF bottomed in March at the height of the coronavirus crisis and has since increased 426%. Since the start of the year, the stock has risen 120%. That stock growth, in turn, was driven by strong earnings through 2020. In fact, Green Thumbs Q1 top line posted a sequential gain of 35% at a time when many companies were posting quarterly losses. Since then, GTBIF has continued to increase its sales. Revenue for the third quarter was $ 157. 1 million, an increase of 131% year over year and 31% over the second quarter. Those strong sales resulted in earnings per share of 4 cents per share for the third quarter, derived from total net income of $ 9. 6 million. In his note on Green Thumb, Zuanic repeats his obesity (i. e. Buy) and sets a price target of $ 35 to indicate a 62% uptrend in the coming year. Zuanic supports his outlook and writes: “We estimate that the consensus sales estimates for 2021 are at least 20% higher [. . . ] In view of the profitability record, the growth potential and the strength of the franchise, we consider valuation multiples that are well above the CPG shares to be deserved (CPG multiples are on average ~ 20x EBITDA). . With federal eligibility still 2 to 4 years, the larger MSOs have a window before CPG or the larger Canadian corporations (the well-funded ones) can get any significant exposure to the US market. All of this should be considered when evaluating the stock. « Overall, Green Thumb has a unanimous consensus rating from analysts, which shows that Wall Street agrees with Zuanic’s views. The stock has had no fewer than 8 buy ratings in the past few weeks. The average target price is USD 30. 81, suggesting an upside of 43%. (See Green Thumb’s stock analysis on TipRanks. ) Cresco Labs (CRLBF) Last but not least, Cresco Labs is a Chicago-based cannabis company active in the medical marijuana sector. The company markets its products in retail stores under the Sunnyside * brand, with licenses in 6 states: Arizona, Illinois, Massachusetts, New York, Ohio and Pennsylvania. Cresco’s full range of products includes eight other brand names that offer everything from buds, joints, and food to vapes and gums. Cresco has all manufacturing facilities, retail licenses and operational pharmacies and is represented in 9 states. Cresco saw strong growth in 2020. The stock is up 48% since the start of the year, with three weeks of trading remaining before the year ends. The profits completely erased the losses suffered at the start of the COVID pandemic. Cresco had third-quarter sales of $ 153. 3 million, a quarterly company record. The end result was around 59 million. USD higher than the previous quarter, representing a sequential gain of 63%. The revenue was based on strong retail sales totaling $ 90. 5 million in the quarter. Cresco’s quarterly profit increased from $ 66. 4 million in the first quarter, up 130% year-to-date. Pablo Zuanic notes the company’s retail success in his note on the stock. He says, “Cresco has exceeded our consensus sales estimate above by 23% for wholesale market share gains in states like IL, PA, and CA and the continued outperformance of IL retail. 25% peer) and depth (leadership in key states with over 20% wholesale IL / PA) over time could, in our view, result in a peer premium … If we project into the fourth quarter, we are modeling at least the same Share per state in the third quarter plus underlying market growth. In CA, the company is gaining share per store (existing customers) and adding new retail customers. « These comments support Zuanic’s obesity (i. e. Buy) Rating. His target price of $ 18 shows confidence in the 77% growth potential for the next year. With 5 buy ratings to offset a single hold, Cresco is our third cannabis stock to make a strong buy. At a current trading price of $ 10. 12 that is $ 14. The average target price of 61 results in an upward trend of 44% for one year. (See Cresco’s stock analysis on TipRanks. ) To find great ideas for trading cannabis stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of the insights into TipRanks’ stocks. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

Airbnb has raised the offering price of its IPO and now appears to be raising around $ 3. 1 billion or 20% more than originally planned. It is traded on Thursday under the ticker ABNB.

In 2021, the fate of the economy – and the stock market – is likely to revolve around the pace and effectiveness of factors such as vaccines adoption for COVID-19, as well as tax incentives and government aid programs. As nations race for the coveted post-pandemic stage, topics like technology, pinching, entertainment, and personal health are running through the best stocks to buy for 2021. Adobe is the « best in class » industry.

I sold my Tesla just after 7 a.m. . Tesla, in a filing with the SEC, announced a $ 5 billion fundraising plan that will sell common stock « from time to time » and « at market prices ». This marks the third capital increase of the year for Tesla and the second since September, which also came in at $ 5 billion.

The technology sector consists of companies that develop, build and market consumer electronics, electronic components and software. Technology companies may also offer information technology (IT) services such as cloud computing. While the most famous companies giants like Apple Inc. are. (AAPL) and Microsoft Inc. . (MSFT) there are also technology companies classified as penny stocks.

(Bloomberg) – Guy Fieri’s Times Square restaurant, where Jared Kushner and Ivanka Trump celebrated in late 2016 before heading to Washington, has disappeared. The office tower at 666 Fifth Ave.. . , once the headquarters of the Kushner family’s real estate empire, has been sold. Also involved in a project in the trendy Dumbo neighborhood of Brooklyn. New York looks very different now than it did before Jared Kushner, who left the city to take a position as senior advisor to his father-in-law, President Donald Trump. Kushner Cos. The company where he served as chief executive officer has pulled out of town and has invested nearly a decade in investments in just a few short years. Instead, it has shifted its ambitions to apartment complexes in New Jersey and Florida. It’s not clear whether Kushner will return to an active role in the company after four years in the White House, or whether he will return to New York. The changes his father Charles Kushner and company president Laurent Morali made in his absence can be traced back to a decade-long foray into the city, most notably when Jared Kushner was CEO. While there have been successes, some of the biggest deals have failed. High purchase prices, excessive borrowing, and unrealistic expectations were followed by falling valuations and debt renegotiations. Kushner Cos. didn’t respond to questions about whether Jared Kushner would rejoin the company or whether the strategy was changed. Christopher Smith, his top attorney, pointed out a number of profitable deals in an email, including investments in Lower Manhattan and the Gowanus neighborhood of Brooklyn. He said other buildings had increased in value. During the Trump years, Kushner Cos. pursued investors from China, Qatar, and Israel as Jared Kushner helped shape foreign policy. He stepped down from his position with the company and transferred some of his assets to family members, but the structure of the divestments was not clear, which heightened ethical concerns. At the same time, the company was buying apartment buildings in the suburbs of New Jersey, Maryland and Virginia, markets that are now booming as people flee cities during the Covid-19 pandemic. She also wants to break new ground: multi-family projects in South Florida. Some of the transactions that got the company to this point have been painful. The sale of 666 Fifth Ave. . was necessary to repay a loan taken out at the height of the market in 2007 when Kushner Cos. bought the office tower for a record $ 1. 8 billion. Jared Kushner did not become CEO until the following year, but was involved in the negotiations and indicated in a press release that the purchase had « great upside potential ». Farewell to the property – a 99-year lease for the office space was signed with Brookfield Asset Management Inc. Sold. for $ 1. 3 billion – was a compromise of plans to demolish the building and replace it with an even taller skyscraper in partnership with China’s Anbang Insurance Group, an option the company pondered in Kushner’s first few months at the White House. A few blocks away is the Times Square retail store – six floors of the building that once housed the New York Times. Kushner Cos. bought the space in 2015 and took out debts of 370 million a year later. USD based on an estimate of 470 million. USD, which is a 59% increase over what he paid. Now it looks like the financial assumptions underlying this assessment are a mirage. To fill the building, Kushner has Cos. turned to tenants whose space requirements were large, but whose assessment of the demand for adventure attractions turned out to be incorrect. There was an exhibition with digital dolphins and another with detailed miniatures of world monuments. Late last year, Guy’s American Kitchen & Bar was closed, a proposed food hall never opened, a third tenant went bankrupt, and a fourth did not pay full rent. Kushner Cos. Last December, $ 85 million of his debt was in default there, and the property was valued at $ 92 by an estimate in August. It is 5 million according to lender records, which is about a 70% decrease in the purchase price. « The former New York Times building was truly a retail disaster, » said Joshua Stein, a New York-based real estate attorney. “One concept after the other failed. Kushner Cos. also sold less than 5% of the Watchtower Complex in Brooklyn’s Dumbo neighborhood, which was acquired by Jehovah’s Witnesses in 2016. Jared Kushner, whose father-in-law was running for president at the time, trumpeted plans to convert the buildings into shops and loft office space. Kushner’s father decided to refocus elsewhere. The list of New York sales as of January 2017 includes two more development locations and apartments in Brooklyn, Queens. The company has not announced any major acquisitions in the city since then. Several New York deals made during Jared Kushner’s tenure have been successful. According to the company’s attorney, Smith, three properties were sold for combined gross income of $ 239 million. USD sold. However, that is more than offset by operating losses of approximately $ 200 million at 666 Fifth Ave.. After the debt payments, the numbers the lenders provided to investors show a $ 200 million loss in value for Times Square. New York isn’t the only big city in the Kushner Cos. withdraws. The company was in talks to build its only Chicago office building, a 31-story tower originally for AT&T Inc. Was built to outsource. for 188 million. USD a 32% discount on the 2007 purchase price and barely enough to cover the property’s mortgage. Investments in other markets have been plentiful. In 2019, the company made its largest purchase in more than a decade, giving more than $ 1 billion for 6. 000 homes in the suburbs of Baltimore and Washington. Two years earlier, it had partnered with Israel’s largest asset manager to acquire 1. 000 homes for sale in Plainsboro, New Jersey. The company’s return to its suburban roots seems like a surprising solution, at least to those who thought Jared Kushner’s public role could make it easier to conduct private business. But working for Trump often turned out to be cumbersome rather than lucrative. Kushner’s emerging star attracted interest from investors who had never done business with his family’s company. It was also publicly scrutinized when his sister Nicole Kushner Meyer mentioned her brother’s role in the White House when she hired investors in China for a project in Jersey City, New Jersey. The company later apologized to anyone who interpreted their comments as an attempt to attract investors. Anbang, who made real estate purchases in the United States. S.. . he walked off 666 Fifth Ave before Trump’s China bashing climb to the White House. Shortly thereafter, Bloomberg News reported details of a proposed deal with Kushner Cos. At the beginning of 2017, this would have given the Kushners a construction loan of 4 billion. USD and a payout of 400 million. USD granted. The Chinese authorities confiscated Anbang the following year and detained its chairman for fraud and embezzlement. The Qatari kings also considered investing in 666 Fifth Ave.. . During the 2016 presidential campaign, Jared Kushner and his father spoke with Sheikh Hamad bin Jassim Al Thani, who had previously been Qatar’s Prime Minister and head of the sovereign wealth fund, about investing in the tower. The deal would have included $ 500 million from the sheikh’s investment firm, pending other investors. The talks were interrupted after the concurrent negotiations with Anbang fell apart. A Kushner Cos. Jared Kushner’s work as Trump’s envoy for Israel and the Middle East introduced him to a new group of wealthy investors who could become partners once he returns to the private sector. Last week, on his final trip to the region, Jared Kushner worked to bridge the Saudi Arabia-Qatar divide that worsened after Saudi Arabia launched a Trump-backed blockade on its neighbor. A White House spokesman declined to comment. The company is also able to benefit from Trump’s 2017 tax bill, which incentivized investment in low-income neighborhoods that are designated as opportunity zones. One Florida development is in one such area that allows investors to defer taxes on capital gains reinvested there. Kushner Cos. expands property in zones in the beach town of Long Branch, New Jersey. It has refused to say whether it is taking advantage of the tax break and no public disclosure is required. Whether or not he returns to the family real estate business, Jared Kushner still has an interest in Cadre, the startup he co-founded that sells fractions of real estate investments. Cadre agreed to buy it last year, but the deal was suspended after the pandemic and the company cut staff and made other cuts. A Cadre spokesman made no comment. For more articles like this, please visit us on Bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .

CNBC’s Jim Cramer discussed why a commercial he did for Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) could warrant a winning streak for young investors. What happened: Norwegian has confirmed it won’t set sail in the U.. S.. . in the first few months of 2021, but that doesn’t stop the company from promoting its cruises during NFL games. The Norwegian commercials show maskless people having a « fabulous time » and having fun, Cramer said on CNBC’s « Squawk on the Street ». « This suggests that there is still demand for cruises and proves that ‘the Robinhood people were right, » he said. Younger and millennial investors were known to have bought up cruise stocks in the early days of the pandemic. This move was considered silly by some experts at the time who believed the travel and leisure industry would take years, if any, to recover. « This younger generation says wait a second – people are going to crossbreed again, they’re going to get a vaccine, » Cramer said. In contrast, analysts and media experts in this sector were « negative, » said the CNBC host. Why It Matters: Norwegian stocks should have defaulted to fall as the company actively traded new stocks to raise capital, Cramer said. While the younger generation of investors may not understand this dynamic, he said they were optimistic that cruise lines would find a way to survive the pandemic. What’s next? Norwegian has announced a new initiative to ensure the safety of its guests. The company will install air purification and disinfection systems for the entire fleet of 28 ships. « You will find out, » said Cramer. For More Information From Benzinga * Click here to learn about Benzinga options trading. * Analyst predicts how Disney may respond to Time Directer’s direct-to-streaming movie program in 2021 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

Citron Research editor and notorious short seller Andrew Left announced its latest short-time work on Tuesday. Less than two weeks after calling Palantir Technologies Inc (NYSE: PLTR) a « full casino », Left went a step further in criticizing Luminar Technologies Inc (NASDAQ LAZR) electric vehicle stock. « $ LAZR at $ 14 billion ($ 40) isn’t even casino stock. . . You can actually win at a casino. . It’s more of a ‘sucker game,’ « Left tweeted. Related link: Citron Shorts Palantir, calls stocks a « full casino » Left Targets EV stocks: Luminar is the newest EV stock to soar after going public via a SPAC last Thursday. The stock has risen 110% in three days since then, before falling 7% early Tuesday. Instead, Left said investors should buy Velodyne Lidar Inc (NASDAQ: VLDR). . « Would much rather have the industry leader $ VLDR with a cap of less than 4 billion. Own USD. Citron expects $ LAZR to be back at $ 20 and $ VLDR at $ 30, « Left tweeted. Velodyne stock traded 10 higher. 1% on Tuesday. Left has already criticized several popular EV stocks for their valuations, including announcing a brief thesis for Nio Inc – ADR (NYSE: NIO) in November. 13th. In November 2018, Left compared Nio to Tesla Inc (NASDAQ: TSLA) when Nio was trading at around $ 7 per share. However, last month he said investors should take profits on the stock after it closed nearly $ 2 last year. 000%. Left also recently dubbed Electrameccanica Vehicles Corp (NASDAQ: SOLO) as « a complete joke » and EV charging station Blink Charging Co (NASDAQ: BLNK) stock as the « overall scheme ». Benzinga’s Take: Short sellers who have focused on fundamental valuation analysis have been killed for years, especially when it comes to betting against EV stocks. Over the past few weeks, Left’s bearish EV bets have paid off over the past few weeks as stocks of Nio, Electrameccanica and Blink Charging have fallen between 4% and 14% in the past two weeks. Click here to read the latest electric vehicle news at Benzinga’s EV Hub. Latest Ratings For LAZR DateFirmActionFromTo Dec 2020Northland Capital MarketsDowngradesOutperformMarket Perform See More Analyst Ratings For LAZR See Latest Analyst RatingsSee More From Benzinga * Click Here To Buy Options From Benzinga * Millennials Buy Bitcoin Twice As Gold As A Safe Haven Investment * Webull CEO: « Crypto is the gold for the new generation » (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

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