World News – GB – Short seller Hindenburg says Loop Industries recycling technology is ‘fiction’

Short seller Hindenburg Research released a report Tuesday calling plastics recycling company Loop Industries, Inc (LOOP), claiming the company’s claimed technological advancements are « fiction »

The 6-year-old recycling company has signed deals with major food, beverage and beauty manufacturers including Coca-Cola (KO), PepsiCo (PEP), Evian (BNPA), L’Oréal (OUPA) and L’Occitane (0973HK)

Hindenburg has taken a short position in the Montreal company and, according to its report, has submitted its findings to regulators

Using information gathered from former Loop employees, plastics experts, competitors and the company’s partners, Hindenburg alleges that the company’s technology is neither more efficient nor more profitable than traditional methods of recycling PET, that it has distorted its technology to investors and produced false lab results from a company lab banned from some employees

Hindenburg made headlines last month after publishing a report accusing hydrogen-powered truck maker Nikola Corporation (NKLA) of manufacturing its technological advances

New methods of revitalizing plastic are in demand, as low oil prices reduce the cost of using new PET resin, while recycling suppliers try to compete with lower quality input materials In 2018, around 360 million tonnes of plastic were produced

« In the company’s annual report dated June 15, 2016, the company claimed to break down PET into base chemicals at a ‘100%’ recovery rate, » Hindenburg wrote in its report. “We spoke to a former employee who worked at Loop at the time of this claim, who told us that claiming a 100% recovery was ‘technically impossible’ and ‘industrially impossible’  »

According to Loop’s website, its mission is « to accelerate the global transition to sustainable plastic and PET (polyethylene terephthalate) fiber, » a petroleum-based synthetic material commonly used for bottled beverages, food containers and textiles His claim of a new technology called ‘Infinite Loop’ would allow plastic waste that currently cannot be recycled to become fully recycled into high quality PET

“We believe our technology is at the forefront of the global transition away from fossil fuels and petrochemicals where PET plastic and polyester fiber are produced from 100% recycled content,” the company said in its October 7 results report

Hindenburg also claims Loop lacked scientific expertise, including at its highest levels The company’s senior scientists, she says, have no postgraduate training in chemistry The short seller further accuses Loop CEO Daniel Solomita of pressuring employees to lie about the company’s technology and of using individuals who have pleaded guilty to fraud on the company. securities to facilitate start-up capital investment

Yahoo Finance requested Loop’s response to Hindenburg’s claims on Tuesday morning As of this posting, it had not yet received Loop’s response

Loop shares fell 30% just after 8:30 am Tuesday morning after the report was released

Your problem is common: According to a Northwestern Mutual study, the average personal debt (excluding mortgages) of people in debt is around $ 38,000 « He still contributes 15% (10% employer, 5% employee) to retirement with a long track being only 38 » Frankly, you might even be able to contribute less in retirement if that meant you could repay your debt faster: « It’s extremely important to save money for retirement, but between your savings so far and your business’s 10% contribution (which is amazing – kudos to them), your fund pension should continue to grow steadily – even if you take a break from saving and lower your contribution rate to 0%, ”says Amy Ouellette, director of retirement services at Betterment for Business – adding that this is only true « As long as you are truly prepared to focus on paying off your debt as quickly as possible »

Millennials score most of their major titles, including some in the S&P 500 But they take massive hits

Delta Air LInes Reports Third Quarter Results That Helped The Company Reduce Average Daily Cash Consumption To $ 24 Million

(Bloomberg) – A cargo of Iranian gasoline that was seized by the US has arrived in New Jersey, escalating a legal battle over who is the rightful owner The Maersk Messina is docked in Carteret, New Jersey, according to Ship tracking data compiled by Bloomberg This is the second of two shipments of Iranian gasoline brought to the US after being confiscated earlier this year for violating US sanctions en route to Venezuela Last month, the Maersk Progress dumped 557,712 barrels of Iranian gasoline in New York City, according to US Customs data Four tankers carrying Iranian gasoline were intercepted this summer to an unprecedented extent by the Trump administration, which sanctioned Venezuela’s oil industry in the aim of ousting President Nicolas Maduro The shipowners abandoned the cargoes and transferred them to other tankers which brought them to the US The capture of 116 million barrels of oil were hailed by the Justice Department as « the largest seizure of fuel shipments from Iran ever » Trump administration must prove its case for confiscation before oil can be sold The US complaint alleging that the cargoes are assets of Iran’s Islamic Revolutionary Guard Corps – a designated foreign terrorist organization – is contested by cargo owners Mobin International Limited, Oman Fuel Trading Ltd and Sohar Fuel Trading LLC FZ filed a motion to dismiss Erich Ferrari, a lawyer representing the owners of the gasoline shipments, declined to comment The Justice Department, which was on the recipient list for the cargo unloaded in late September, declined to comment when was asked about the arrival of tankersIran first supplied gasoline to fuel-starved Venezuela in May, when the first of five ships arrived.The subsequent U’s cargo confiscation did not prevent Iran from sending more fuel to beleaguered South American nation, which faces chronic shortages amid crippling sanctions Three more Iranian ships delivering gasoline arrived in Venezuela at the end of September To date, Venezuela has received around 237 million barrels of Essence of Iran For more articles like this, please visit us at BloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP

Apple Inc (NASDAQ: AAPL) has been one of the hottest stocks in the market over the past year, gaining 1079% ahead of the much-anticipated launch of an iPhone 5GLundi, a wave of big trading Apple options were mixed ahead of Tuesday’s iPhone 12 event, but a trader made a $ 14 million bet that Apple stock is up this week Trades: On Monday, Benzinga Pro subscribers received more than 100 alerts from ‘options linked to exceptionally large Apple options trades Here are some of the bigger ones: * At 10:04 am, a trader bought 316 Apple puts with a strike price of $ 150 expiring on January 15, 2021 near the asking price of $ 30.501 The trade represented a bearish bet of $ 963,831 * At 10:29 am, a trader bought 520 Apple call options with a strike price of $ 120 expiring on March 19, 2021 close to the ask price at $ 14.50 The trade represented a bullish bet of $ 754,000 * At 10:47 a.m., a t rader bought 1,535 Apple calls with $ 113 80 strike price expiring Friday close to the ask price at $ 9.60 Trade was over $ 1 4 million bullish bets * At 11:06 a.m., a trader bought 500 Apple puts with a strike price of $ 120 expiring in September 2021 at the asking price of $ 17 351 The trade was a bearish bet of $ 867,550 The biggest trade of the morning was bullish in nature, but two of the four biggest were bearish This ratio reflects the very mixed nature of Apple options traders ahead of Tuesday’s big event, with unusually large trades seemingly pouring in minute by minuteSee Also: Apple Launches iPhone 5G Supercycle Tuesday: Here’s What To Expect Why It Matters: Even traders who stick exclusively to stocks often keep a close watch on options market activity for them exceptionally large trades Given the relative complexity of the options market, large options traders are generally considered more sophisticated than the average stock traderMany of these great options traders are wealthy people or institutions who may have unique information or theses related to the underlying stock.Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there is no foolproof way to tell if an options trade is a standalone position or a hedge. In this case, given the relatively large size of the largest Apple transactions and the fact that there were so many large transactions, it is likely that at least some of the transactions were institutions hedging against large positions in securities. apple stocksUncertain outlook: In the short term, the fate of Apple’s share price may be determined much less by the specifications of the iPhone 12 and much more by whether expectations for the first 5G-capable phone from Apple have gotten so high that there’s no way the device will live up to the hype Long-term Apple investors have more than doubled their money over the past year in anticipation of the iPhone 12 , so that a lot of success is already incorporated into the action At the same time, analysts are still expecting big things from the iPhone 12, and many predict that much of Apple’s huge global iPhone user base will be upgraded over the course of the year. next yearEven though the iPhone 12 is a huge long-term hit, short-term traders might view Tuesday’s unveiling as a news selling event where traders cash at least some of their big wins over the course of the season. past year After all, Apple’s market cap now sits at $ 2.14 trillion after another 5% gain on Monday, and further near-term valuation could be limited no matter how awesome the iPhone 12 is. AAPL by TradingView new TradingViewwidget ({« width »: 680, « height »: 423, « symbol »: « NASDAQ: AAPL », « interval »: « D », « timezone »: « Etc / UTC », « theme » : « light », « style »: « 1 », « locale »: « fr », « toolbar_bg »: « f1f3f6 », « enable_publishing »: false, « allow_symbol_change »: true, « container_id »: « tradingview_f6c1a »}) ; Benzinga take: The mixed nature of Apple options trading on Monday suggests that there is no clear consensus on the short-term direction the stock will take after Tuesday’s event The $ 1 purchase of 4 Million Calls has a break-even price of $ 123.40 suggesting that any additional advantage for the stock by Friday is pure profit for the trader Read more about Benzinga * Trading options for this crazy market: Get options from Benzinga to follow high conviction business ideas * Apple analyst says App Store revenue growth slowed in last quarter Test ‘(C) 2020 Benzingacom Benzinga does not provide investment advice All rights reserved

DoubleLine Capital’s ‘Bond King’ billionaire Jeffrey Gundlach shared his bearish thoughts on the stock market in a recent interview with Real Vision

Electric cars largely outpaced fossil fuel vehicle sales in September as the Chinese auto market continues to experience coronavirus lows

The company, which is expected to release its third quarter results on October 21, slashes the price to $ 71,990 from $ 74,990 in the US Earlier this month, Tesla slashed the starting price of its sedans Chinese-made Model 3 by roughly 8% to 249,900 yuan ($ 36,805) The world’s largest automaker has slashed prices for various models in its lineup at the same time traditional automakers are trying to break into the vehicle market electric cars by launching their own electric cars

Barron’s was looking for stocks with above average earnings growth and below average price / earnings multiples The screen came up with a dozen undervalued growth stocks that might be of interest

Shares of Nio Inc slipped 02% in pre-market trading on Tuesday, putting them on track to pull out of the previous session’s record close, after data from China showed vehicle sales new energy in September jumped 68% to 138,000 units, the highest sales volume this month Nio’s stock had rallied 18% on Monday to close at a record $ 21.85 It has exploded 4435% year-to-date through Monday, while iShares MSCI China ETF rose 222 % and the S&P 500 gained 94% Meanwhile, data from China helped give Tesla Incle stock a boost, which rose 06% ahead of the open, putting them on the on track for a fifth consecutive win; the stock has rallied 68% in the last four sessions Among other electric vehicle makers, shares of Workhorse Group Inc soared 15%, Nikola Corp slipped 10% and XPeng Inc gradually 01% in pre-market

Are you on the verge of retirement, but not sure you should? Here are 3 questions to ask yourself

Disney Goes Into Media Streaming On Monday, the company announced a massive reorganization of its media and entertainment business that will focus on developing productions that will debut on its streaming and broadcast services Its major reorganization comes just days after activist investor Dan Loeb, a major investor in the company through his hedge fund Third Point Capital, called on Disney to cancel its dividend and shift more investment into streaming.

Johnson & Johnson suspended key end-stage testing of its Covid-19 vaccine candidate, but then beat third quarter results JNJ stock fell

Stocks opened mixed on Tuesday as investors viewed first batch of corporate results and watched special events from tech giants Amazon (AMZN) and Apple (AAPL)

Yes, shares in Zoom Video have exploded during the coronavirus crisis But after the pandemic, what is the outlook for Zoom stock as Wall Street looks to the future? Is ZM stock a buy right now before Zoomtopia?

Natural gas futures have nearly doubled since June, a remarkable turnaround for a product that has mostly been seen as oil’s less popular brother

Lines drawn in the sand in Washington DC are holding the next stimulus package hostage, but what does this mean for Wall Street? Despite the deadlock on Capitol Hill, the S&P 500 rallied 95% from a recent low on September 23 thanks to strong economic data In this context, investors and economists are starting to question whether recent economic data is better. than expected suggest that previous stimulus packages will be enough to support the economy as we move towards a post-COVID world Oppenheimer’s chief investment strategist John Stoltzfus points out that « despite rising uncertainty that has been happening since the beginning of September, ”the US and international markets have been“ on the mend and even rallied to the dismay of bears, skeptics, the eternally nervous and even some locals. of the DC BeltwayPlus, as stocks rose, so did the yield on 10-year bonds. So what worked ‘magic’ in the markets? Stoltzfus points to a ‘mix of factors’, including This included the third quarter earnings season starting this week with the big banks, economic data that has countered the recent economic downturn, interest rates remaining near historic lows, as well as « the feeling that the bottom line is ‘election is unlikely to result in a prolonged period of uncertainty « Stoltzfus also believes markets view COVID-19 as a greater detour from » the broader forces at work that are propelling stocks in the US stock market « In With that in mind, Oppenheimer analysts have set their sights on what they see as exciting opportunities These are names that won’t break the bank and offer colossal growth prospects in. for the next twelve months namely penny stocks These tickers under $ 5 each are tricky so some due diligence is needed Using TipRank’s database we got all the details, to see why they are so convincing even with the risk involved Outlook Therapeutics (OTLK) First of all we have Outlook Therapeutics, which focuses on the development and commercialization of Lytenava, a complex monoclonal antibody, for various ophthalmic indications Following a recent reading of data , Oppenheimer believes its $ 0 77 share price presents an attractive entry point OTLK has released key data from Lytenava’s NORSE-1 study versus Genentech and Roche de Lucentis in Macular Degeneration Linked to wet age (AMD), a condition that can lead to vision loss In the OTLK group, 2 out of 25 (8%) patients met the primary endpoint al (gain at least 15 letters on best visual acuity score), and the group receiving Lucentis had 5 of 23 patients (22%) primary endpoint weighing this finding for Oppenheimer, analyst Leland Gershell points out that although this was a pivotal trial, it was really more of a clinical experience study to generate usage data In addition, while more Lucentis patients achieved the primary endpoint, the analyst mentions that the comparator arm included approximately twice as many treatment-naïve baseline vision patients and / or worse baseline vision , which favored Lucentis The company said improvements of more than 15 letters at month 11 were ‘equivocal in treatment-naïve subjects’ and the trend was better for Lytenava in those with baseline visual acuity of less than 67 letters , vs. 44% under Lucentis, Gershell added: « We believe the results support the outlook for Lytenava in the US NORSE-2 trial in wet AMD, which is well designed to show superior efficacy to Lucentis’ besides the size of sufficient sample for statistical power-up, NORSE-2 will stratify based on some baseline characteristics, exclude patients with vision better than 20/50 and recreate will only be treatment-naïve patients As Lytenava is positioned to play a significant role in the multibillion-dollar retinal disease market, a licensing agreement or partnership is not out of the question, Gershell says To this end, he recommends that investors acquire shares before reading NORSE-2 In view of all of the above, Gershell attributes OTLK to outperform (i.e. Buy) with a price target of $ 8 Investors could pocket a 947% gain if that goal is met within the next twelve months (To look at Gershell’s track record, click here) Turning now to the rest of the street, 3 buys and no holds or sells have been posted in the past last three months Therefore, OLTK has a Strong Buy consensus rating With an average price target of $ 6.33, upside potential lands at 729% (See OLTK stock market analysis on TipRanks) Organogenesis Holdings (ORGO) As a leading regenerative medicine companies, Organogenesis Holdings is focused on empowering healing through product development for the wound care, surgery and sports medicine markets With the With price per share landing at $ 3.85, Oppenheimer says it’s time to pull the trigger Cabinet analyst Steven Lichtman considers himself a fan Even though sales are down 29% year-over-year in April, trends started to improve in May with the reopening of health facilities In June, over 90% of ORGO accounts receivable were open and all were accepting new patients As a result, Q2 2020 revenue of $ 69 million exceeded expectations In addition, despite headwinds from COVID, the management restored its original sales forecast for 2020 from $ 273 million to $ 277 million, which would reflect a 5-6% year-over-year gainGoing forward, Lichtman cites Affinity, the company’s fresh amniotic membrane for wound care and surgery, as a key point of force following the transition to a new contract builder and subsequent relaunch at 1H20, the analyst sees strong favorable wind In addition to this, the ramp of NuShield, a dehydrated placental allograft, and NovaChor, the first fresh chorion membrane, could lead to a significant rise Lichtman added, « Management also stressed the benefits of the scope of its products, as customers increasingly seek to reduce the number of suppliers they use »ORGO believes that its product mix could lead to an expansion of margins » ORGO’s amniotic portfolio is an important contributor given that it is a high margin product and a major element of growth for the company. ‘Business Consolidation of multiple facilities is also expected to result in a margin improvement of around 300 basis points,’ said LitchmanIt should be noted that since the reinstatement of transmission reimbursement in Q4 2018, ORGO has taken steps to drive PuraPly (its medical device designed for the management of acute and chronic wounds on a wide variety of wound types) to -beyond the transmission These efforts include increasing physician office penetration, improving clinical data, adding PuraPly line products and extensions, and launching smaller sizes at the bundle price. Calling these efforts “short-term offsets,” Lichtman believes they represent “potential advantages over expectations.” Everything ORGO brought convinced Lichtman to rate the stock as outperforming (ie Buy) with a $ 9 price target This figure suggests potential up 134% from current levels (To see Lichtman history click here) Overall, other analysts echo Lichtman 3 buy sentiment and no hold or sell add to strong buy consensus rating With an average price target of $ 867, upside potential reaches 126% (See ORGO stock analysis on TipRanks) penny stocks traded at attractive valuations, visit the best stocks to buy from TipRanks, a newly launched tool that brings together all information about TipRanks stocks Disclaimer: Opinions expressed in this article are unique nt those of featured analysts Content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment

Shares of Carnival Corp (NYSE: CCL) are trading lower on Monday after the company canceled its remaining Port Miami and Port Canaveral cruises following CDC’s decision to extend its ship ban order and said the November operations would not be feasibleCarnival is the world’s largest cruise line, with over 100 ships at sea at the end of 2019 Its brand portfolio includes Carnival Cruise Lines, Holland America, Princess Cruises and Seabourn in North America; P&O Cruises and Cunard Line in the UK; Aida in Germany; Costa Cruises in Southern Europe; and P&O cruises in Australia Carnival also owns Holland America Princess Alaska Tours in Alaska and Canadian Yukon Carnival shares are down 230% to $ 1532 on Monday at time of posting Share has a high of $ 51 in 52 weeks94 and a low See More From Benzinga * Options Trading For This Crazy Market: Get Benzinga Options To Follow High Conviction Trading Ideas * Why Carnival Cruise Stock Is Trading Higher Today * Why The Carnival share is trading lower today (C) 2020 Benzingacom Benzinga does not provide investment advice All rights reserved

Shares of Micron Technology Inc rallied 25% in pre-market trading on Tuesday, after Deutsche Bank analyst Sidney Ho upgraded the memory chipmaker, citing signs suggesting that demand for DRAM has picked up in the mobile and server markets Ho raised its rating to buy on hold and raised its target share price by 20%, to $ 60 from $ 50. ”Although we recognize that there are risks While recent strength in demand is driven by inventory build-up, we nonetheless believe it will help alleviate the seasonal weakness in demand in the first half of CY21, « Ho wrote in a note to clients. Additionally, with DRAM vendors showing their willingness to cut capital spending, major smartphone and server OEMs are confident that supply could tighten again in the second half of CY21, which should lead to price stabilization earlier than expectedHo said he believes the outlook for risk versus rewards is now skewed more positively as the risk of large reductions in estimates has been significantly reduced. The stock has slipped 58% year-to-date through Monday, while the PHLX Semiconductor index is up 316% and the S&P 500 has gained 94%

Nvidia’s opportunity with Arm Holdings is clear At AMD there are more open questions if it buys Xilinx

Loop Industries, NASDAQ: LOOP, Industry