Short Selling – Spirit Ether Fri, 11 Jun 2021 19:27:36 +0000 en-US hourly 1 Short Selling – Spirit Ether 32 32 AMC stock rises after credit score upgrade Fri, 11 Jun 2021 18:35:00 +0000

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US hedge funds Melvin Capital and Light Street suffer further losses Thu, 10 Jun 2021 22:01:37 +0000

Melvin Capital and Light Street Capital, two hedge funds in the United States It was hit hard in January by a rebound in stocks popular with retail investors, but suffered more losses in May.

Melvin most notable victims Of the equity rally even in January, it fell another 4% last month, people say they know their performance.

People said it would cost the fund a loss of about 44.7% this year. The S&P 500 Index for US stocks rose 0.6% last month, up nearly 12% in the first five months of the year.

According to data firm Ortex Analytics, hedge fund losses resulting from bets on five popular Meam stocks (GameStop, Bed Bath & Beyond, AMC, BlackBerry and Clover Health) have totaled around $ 6 billion since early May. Ortex co-founder Peter Hillerberg said the fund had recently reduced its short selling position in meme stocks, but short selling remains at a “very high level.”

New York-based Melvin, led by Steve Cohen’s protégé Gabe Plotkin, found himself at the heart of GameStop’s story in January. Melvin’s performance fell 53% as stock prices rose in the stratosphere.

The fund, whose asset values ​​fell $ 4.5 billion from the end of last year in January, invested $ 2.75 billion soon after, from Cohen’s Point 72 Asset Management and by Kengrifin’s Citadel.

According to people close to the company, Melvin’s assets increased to an additional $ 11 billion as of June 1. After the extent of the company’s loss was revealed, Melvin said I had completed this bet. , but suffered more losses last month.

Stocks like GameStop, AMC and BlackBerry soared in late January as amateur investors coordinated their behavior on forums like Reddit and, in some cases, directly targeted hedge funds.

After declining, these values ​​have again risen sharply in recent weeks. The rally hurt both short sellers betting directly on stocks and managers who were affected by subsequent market volatility or who have short positions in other stocks when other short sellers open their bets. . I did.

Others who lost money included Light Street Capital, the so-called Light Street Capital, founded by Glen Kacher. Tiger child Previously worked for Julian Robertson’s Tiger Management.

The company, which managed around $ 3.3 billion in assets earlier this year, was hit in the first quarter. Its flagship fund lost another 3% in May and fell 20.1% this year, according to figures sent to investors. Those familiar with its positioning say the fund’s losses in the first quarter were mainly due to short-term losses.

Melvin and Light Street declined to comment.

The captions for this article have been revised to clarify that the $ 6 billion figure refers to losses across the hedge fund industry.

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US hedge funds Melvin Capital and Light Street take further losses Source link US hedge funds Melvin Capital and Light Street take further losses

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Marine & Harbor Shrs Rally on Rising Container Prices; Pacific Basin COSCO Shipping jumps 9%, 12% AASTOCKS Financial news Thu, 10 Jun 2021 06:47:00 +0000

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Actions of meme “should be offered at the casino” Wed, 09 Jun 2021 14:25:20 +0000

CNBC’s Jim Cramer said on Wednesday that meme stock trading was more of a game than an investment.

“It’s exciting. It’s fun and it’s real,” Cramer said on “Squawk Box”. However, he added, “If you’re going to play them, I think you can, I don’t know, go to the casino. These should be offered at the casino.” He asked himself, “Why are they being offered on the New York Stock Exchange? ”

The comments from the host of “Mad Money” came as shares of new Reddit target, Clover Health, once again soared in Wednesday’s pre-market and rose nearly 30% as of today. opening, extending the recent mad rush of the insurance company to offer Medicare Advantage plans. However, the enthusiasm waned early in the session and Clover turned negative during the session. At the day’s low, Clover stock has more than doubled since Friday’s $ 9 close.

Reddit’s commercial frenzy that began in January with GameStop as the most important target has recently returned to the center of attention. AMC Entertainment, in particular, has been a favorite of Reddit traders. Other memes actions that have garnered varying interest included Bed Bath & Beyond and BlackBerry – and a new Wednesday, Clean Energy Fuels, which jumped about 20%.

Reddit traders have flocked to stocks that have larger short positions than normal, which creates the potential for a so-called short squeeze if stocks are pushed higher. Short selling is a bearish strategy in which investors can profit when a stock’s price falls.

“They want anything.… You have to try to figure out which one is next,” said Cramer, who has previously criticized short sellers who always bet against GameStop and AMC.

Interactive Brokers founder and chairman Thomas Peterffy also warned the shorts on Monday about the risks of being involved in meme actions, saying they can reach “unimaginable highs” before returning to Earth . But he added that in the meantime traders may have to hedge their bets with big losses.

While new entrants to the stock market are welcome, Cramer said he hopes young people will focus on investing based on fundamentals. He fought off the idea that the best way to learn more about the markets is to get burned out on trades.

“We have young people coming into the market. We have 10 million people and Reddit. They need to be educated. That’s the solution,” Cramer said. “I know it’s old fashioned, but I think it would really help because I know some people think you have to lose a lot of money. I like people to make money, as long as they understand that this is not a game. “

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Lordstown Motors warns its electric vehicle business could fail Tue, 08 Jun 2021 22:59:33 +0000

Electric vehicle start-up Lordstown Motors said on Tuesday it was running out of money to start commercial production, risking business bankruptcy and falling stock prices.

The company revised the annual report of the Securities and Exchange Commission on Tuesday, saying it could cease operating as “going concern” a year later.

According to the company, cash and cash equivalents stood at $ 587 million at the end of the first quarter, and there was not enough money to launch Endurance, an electric van for commercial drivers.

“These situations raise big questions about our ability to survive as a going concern,” the company said in a filing.

Lordstown said he was trying to raise more money but could not guarantee success. Shares plunged 16% to close at $ 11.22 and continued to fall after the market.

The company has been upset since it was accused of inflating orders from short sellers earlier this year, but the company has denied it.

Lordstown Motors first gained attention when it acquired a former General Motors plant in 2019, where it pledged to hire 400 employees to build electric vehicles. President Donald Trump blamed GM after shutting down a factory in Ohio, a politically important Midwestern state.

GM funded Lordstown Motors $ 40 million for the acquisition and invested an additional $ 75 million in the company.

The first offer to secure the factory came from Workhorse Group, which is now headed by Steve Burns, CEO of Lordstown. Workhorse Auditor Questions raised as to whether we can continue to operate as a business in 2018. Another electric vehicle startup, Workhorse Group, has licensed the technology and owns 10% of Lordstown.

In March, Hindenberg Research released a report condemning Rhodestown as pushing up the order book, triggered an SEC investigation. Lordstown denies exaggerating preorders.

However, in May, the Ohio company’s management announced it would cut endurance production and seek additional capital, causing the company’s stock price to drop.

The company said on Tuesday it had received two subpoenas from the SEC, revealing details of the regulatory investigation. One is for pre-orders and the other for the August 2020 merger with specialist acquisition company DiamondPeak Holdings.

Lordstown also said in a Tuesday filing that it found “significant weaknesses” in the process of disclosing information to investors. He said there were not enough staff with “appropriate technical accounting skills” to oversee an effective process for assessing the risk of financial reporting and material misstatement.

The company has hired additional employees to resolve the problem, but “there is no guarantee that it will be successful in correcting any significant weaknesses,” the file said.

At the end of the first quarter, the company reported a cumulative deficit of $ 260 million and a net loss of $ 125 million.

Lordstown Motors Warns Electric Vehicle Business May Fail Source Link Lordstown Motors Warns Electric Vehicle Business May Fail

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UPDATE 1-First Bond Sale Backing EU Stimulus Fund Imminent Tue, 08 Jun 2021 08:15:16 +0000

(Addition of green bond framework, context)

By Yoruk Bahceli

June 8 (Reuters) – The first bond sale to finance the European Union’s coronavirus stimulus fund is expected “imminently,” the European Commission said at an investor meeting on Tuesday.

The EU sent a request to 11 of its primary banks last week asking them to submit proposals for the transaction and the transaction is expected in the “days to come,” said Niall Bohann, director of the budget branch. of the European Commission during the meeting. .

The EU will sell up to € 800 billion of bonds under the program to finance grants and loans to member states, leveraging around € 90 billion of issues supporting the SURE unemployment scheme , a different support program, since last October.

Some 80 billion euros of emissions are expected in 2021.

The EU will establish its green bond framework by September to underpin its issuance in this format, said Christian Engelen, another finance official.

Up to 30% of the stimulus fund’s debt will be issued through green bonds, which fund environmentally friendly spending, in a major boost for the rapidly growing market.

After the first agreement, the EU will sell by the end of July two more bonds via syndication, where a borrower engages investment banks to sell the debt directly to end investors, she said in a program of funding last week.

It will then establish a coupon program for short-term borrowing and begin selling debt through auctions in September, where dealers buy the debt and sell it to investors, the most common way for governments to sell. indebted.

(Report by Yoruk Bahceli, edited by Karin Strohecker and Raissa Kasolowsky)

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Anglo American coal spinoff collapses in London debut Mon, 07 Jun 2021 14:41:00 +0000

Anglo American’s thermal coal-mining spin-off company, Thungela Resources, is named after the word isiZulu meaning “set on fire,” but it did the exact opposite when it debuted on the London Stock Exchange.

TGA of Thungela,

shares fell 111 pence from the opening level of 150 pence. The action was greeted by a report by short-selling research firm Boatman Capital Research, alleging that the environmental liabilities associated with the mine closure could be three times greater than those declared and greater than the value of the whole. of the company.

The company responded that its provisions were up to industry standards and that the South African draft regulation on which Boatman Capital based its assessment was pushed back anyway.

Even without the short selling report, analysts at Deutsche Bank had reported that there was “a limited appetite on the part of European and American institutional shareholders based in the United States”, although they were evaluating the company. at 390 pence. Anglo American shareholders received one Thungela share for every 10 Anglo shares they held.

Anglo-American AAL,
stocks slipped 2%.

Another moving stock was flexible office space supplier IWG IWG,
which fell 8%, after warning that underlying earnings would be well below last year’s levels.

NCC NCC cybersecurity cabinet,
+ 6.55%
was the first engine of the FTSE 350, gaining 6%.

The larger FTSE 100 UKX,
+ 0.11%
rose 0.4% in afternoon trading.

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Johnny Manziel says he made a living selling autographs Sun, 06 Jun 2021 14:55:52 +0000

(Photo by Robin Alam / Icon Sportswire)

Cleveland Browns fans surely don’t want to remember the days of Johnny Manziel.

The organization selected the Texas A&M product in the first round in the 2014 NFL Draft.

His NFL career was short-lived as he played a total of 14 games over two seasons.

Manziel threw seven touchdowns and seven interceptions during his two years at Cleveland before being cut in March 2016.

Despite a short NFL career, it seems Manziel made a decent living from selling his autographs.

Manziel money

The former Heisman Prize winner started selling his signature in 2013.

Manziel recently had an interview with Barstool Sports and spoke about the money he made with his signing.

He made $ 3,000 the first time he signed for merchandise, but claims he didn’t sell anything until he won the Heisman Trophy.

“We do everything sneaky, we don’t want to get caught, we try to learn from everyone who has been caught,” Manziel said. “And I might or might not have gone back to this guy’s apartment and signed probably 10,000 pieces.” He gave me three thousand dollars.

At first glance, Manziel may have gotten ripped off by signing so many merchandise for just three thousand dollars.

Granted, other people felt he was and offered him a better deal for even more money.

A man saw Manziel sign the 10,000 coins and offered to pay Manziel $ 30,000 to sign autographs for him.

Manziel took the man’s phone number and then decided to accept his offer.

“So this guy is like, ‘Alright, go to that room at the Fontainebleau [hotel]. All this stuff will be presented there. When you’re done, just send me a photo of it all. I’ll give you the safe code, the money will be in there, ”Manziel explained.

He went on to say that he had returned to South Beach for about four months to sign autographs.

It’s a shame that Manziel didn’t put so much work into his real footballing career.

The confession comes eight years after the NCAA found no evidence of wrongdoing by Manziel.

Despite this, Manziel was suspended for the first half of the 2013 season due to a rule violation in selling his image for commercial purposes.

He declared himself for the 2014 NFL Draft and Cleveland selected him 22nd overall.

Life after the NFL

Manziel had a very short stint in the CFL before being banned from that league.

He did not follow the rules set by the team and was cut by Montreal after one season.

No other CFL organization is allowed to sign Manziel, so he has been forced to play elsewhere.

The former Heisman award winner completed 64.2% of his passes with 1,290 yards, five touchdowns and seven interceptions in eight games.

Sadly, Manziel didn’t give up on his football dream and signed with the Alliance of American Football’s Memphis Express.

He played in two games for the Express, completing 5 of 8 attempts for 61 yards and one interception.

Fortunately, Manziel did not play in the XFL because he was “blackballed” by WWE President Vince McMahon.

The former first-round pick announced he joined a fan-controlled football league in December.

This roller coaster journey for Manziel never seems to end and fans shouldn’t be surprised if Manziel sells himself and makes a movie about his life.

At least NFL burnout has made money selling his merchandise because it doesn’t look like he will ever return to the NFL.

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Seer, Inc. (NASDAQ: SEER) Chief Financial Officer David R. Horn Sells 10,000 Shares Sat, 05 Jun 2021 21:55:47 +0000

Seer, Inc. (NASDAQ: SEER) Chief Financial Officer David R. Horn sold 10,000 shares of the company in a trade that took place on Wednesday, June 2. The shares were sold at an average price of $ 30.10, for a total trade of $ 301,000.00. As a result of the sale, the CFO now owns 240,966 shares of the company, valued at $ 7,253,076.60. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available on the SEC website.

SEER shares traded down $ 0.04 during the Friday midday session, reaching $ 33.17. The stock had a trading volume of 642,048 shares, compared to its average volume of 509,191. The company has a market cap of $ 2.03 billion and a price-to-earnings ratio of -13.81. Seer, Inc. has a 12-month low of $ 26.48 and a 12-month high of $ 86.55. The company’s fifty-day moving average price is $ 42.32.

Seer (NASDAQ: SEER) last released its quarterly results on Monday, May 10. The company reported ($ 0.27) earnings per share for the quarter, missing Zacks’ consensus estimate of ($ 0.19) of ($ 0.08). The company reported sales of $ 0.06 million for the quarter. The company’s revenue for the quarter was down 65.0% year-over-year. During the same period last year, the company made earnings per share ($ 0.61). As a group, equity analysts expect Seer, Inc. to post EPS of -1.08 for the current year.

Several hedge funds have recently increased or reduced their stakes in the company. Tudor Investment Corp Et Al bought a new position in Seer shares in the first quarter valued at $ 604,000. Alyeska Investment Group LP purchased a new position in Seer shares in the first quarter valued at $ 3,676,000. SB Investment Advisers UK Ltd. increased its stake in Seer shares by 77.3% in the first quarter. SB Investment Advisers UK Ltd. now owns 5,135,383 shares of the company valued at $ 256,872,000 after purchasing an additional 2,238,805 shares in the last quarter. Man Group plc bought a new position in Seer shares in the first quarter valued at $ 314,000. Finally, California State Teachers Retirement System purchased a new position in Seer shares in the first quarter valued at $ 1,092,000. 69.97% of the shares are currently held by hedge funds and other institutional investors.

(A d)

Uranium prices are on the rise as the new US $ 1.5 billion national uranium reserve supplants China and Russia with US supplies. Here’s a little-known company that has quietly amassed over 45 million pounds of high-grade uranium resources – all on US soil – and is trading below US $ 0.25 a share.

Several analysts recently published reports on SEER stocks. Zacks Investment Research downgraded Seer’s shares from a “hold” rating to a “sell” rating in a research report released on Tuesday, May 25. Morgan Stanley lowered its target price on Seer shares from $ 60.00 to $ 55.00 and set a “on par” rating for the company in a research report released on Wednesday, May 12. One analyst rated the stock with a sell rating, two issued a conservation rating, and two assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $ 66.33.

View Company Profile

Seer, Inc., a life sciences company, engages in the development and commercialization of products that enable researchers to unlock biological information. The company is developing Proteograph Product Suite, an integrated solution that includes consumables, automation instrumentation, and software that provides a workflow to perform proteomic profiling and sample analysis necessary to characterize the nature of the proteome.

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7 lithium stocks that will fuel the electric vehicle boom

The demand for lithium is expected to increase exponentially in the coming years. In fact, according to Statista, demand for lithium could very well double to 820,000 tonnes by then. Part of that demand will come from the companies that make the batteries we use every day. For example, lithium is an essential component of the batteries that power our mobile devices.

But the real growth will come as the United States invests in electric vehicles (EVs). The Biden administration recently announced its intention to convert the US government’s fleet of more than 600,000 vehicles to electric vehicles.

And as you know, electric vehicle stocks are in a kind of bubble right now. This is in part due to the growing number of companies that went public in the last year. However, as investors are starting to realize, not all of these companies will be the next Tesla. In fact, some of these companies might never succeed in bringing an EV to market, at least not on the scale required.

Those who make it will need lithium and a lot of lithium. To help you sift through the best lithium stocks to buy, we’ve put together this special overview.

Check out the “7 Lithium Stocks That Will Power The Electric Vehicle Boom”.

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Why Gevo shares gained 12% in May Sat, 05 Jun 2021 02:15:38 +0000

What happened

Gévo (NASDAQ: GEVO) The stock ended May up 12%, according to data from S&P Global Intelligence, as the renewable energy company surged after providing investors with an update in its earnings report for the first trimester.

As you can see from the chart below, the May 13 report was enough to turn the momentum around for the stock, causing a comeback:

GEVO data by YCharts.

So what

Gevo stock rose 43% in a two-day period after the earnings report was released. Investors weren’t watching the numbers as much as they were looking for clues to the progress of Net-Zero 1, a new project under development in South Dakota that is expected to produce 45 million gallons of fuel per year, as well as Food for animals. and corn oil.

A Gevo renewable energy plant.

Image source: Gevo.

Management said initial engineering and design (FEED) was to be completed by December of this year. The company also said it has launched its renewable natural gas project in Iowa and expects it to start operating in early 2022, with an expected annual cash generation of between $ 9 million and $ 16 million.

Gevo is well capitalized after raising cash through debt and equity, and now has $ 525 million in cash, up from $ 78 million.

CEO Patrick Gruber summed up the company’s current position: “[T]FEED engineering work is going well and on schedule. The RNG [renewable natural gas] The plant is expected to be online in 2022 and start generating cash at that time. Interest in our product and customer pipeline has increased dramatically, which is extremely positive. Overall things are going very well and we are successfully executing our business plans. “

Now what

Gevo is a developing renewable energy company that transforms crops like corn into hydrocarbons that can be used as gasoline, jet fuel and other fuels. The company generated only $ 93,000 in revenue in the first quarter. But investors’ attention is on Net-Zero 1 and the underlying technology of Gevo, which offers a unique approach to making conventional fuels by renewable means.

The stock rallied late last year after Joe Biden won the presidential election, as investors bet on increased investment in green energy; The founder of Gevo was even named to a task force of the Biden administration.

However, high expectations are already built into the title, as it has a market cap of $ 1.5 billion. But continued progress on Net-Zero 1 could push the share price up further.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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