Possible Promise
Make Your Future Promise Possible
Source: News For Forex
A logo of a Virgin Galactic is seen outside the building during the company’s first day of trading on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines in midday trading. Virgin Galactic – The space company’s shares […]
Source: Business Insider
Summary List Placement Nikola fell 12% on Friday after JPMorgan downgraded the firm to neutral from overweight, according to a note. The call from JPMorgan was “a tactical move” as much of the good news is priced into the stock. Nikola’s steep decline on Friday came amid a broader decline in electric vehicle stocks like Tesla. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Shares of Nikola dropped as much as 12% on Friday after JPMorgan downgraded the fuel-cell truck developer to neutral from overweight, according to a research note. JPMorgan’s drive to downgrade Nikola was “a tactical move” based more on the timing of future catalysts than the underlying fundamentals, the note said. According to the bank, the “good news is now priced in the stock, so we step aside for now,” the note said. The bank maintained its price target of $30, representing potential upside of 87% from Thursday’s close. Much of that good news includes evidence that the company is more focused on its goals and is passed the drama caused by founder and former CEO and chairman Trevor Milton.
Source: Barron’s
Nikola stock is slipping because one bull downgraded shares, and because founder Trevor Milton is selling shares.
Source: The Motley Fool
The electric vehicle stock is now down 82% from its 52-week high.
Source: InvestorPlace
For most investors, NKLA stock is a dead horse you don’t need to beat. But there’s always that lingering possibility of upside.
Source: Economic Times India
An unintended consequence of Covid-19 has been the preponderance of yet another acronym: SPAC, or Special Purpose Acquisition Company. It is a legal shell company set up by investors with the sole purpose of raising money through an initial public offering (IPO) to eventually acquire another company, a fast track to take it public. The US IPO market saw almost 500 companies go public during the pandemic, raising about $174 billion, while 248 SPACs raised $82 billion during the same period.In the first month of 2021, almost 60 SPACs showed up in the market. The explosion of SPACs has also happily coincided with the growth of traditional private equity markets that now have about $2.5 trillion in dry powder sloshing around. SPACs are an interesting bridge solution for investors between private and public markets, having marked characteristics of both. In the 1980s, blind pools — precursors of SPACs — and penny stock investors gave them a dubious reputation. This time, things seem different.SPAC is like the much sought-after VIP ‘break’ darshan at a temple — a side-door entry into public markets, without the scrutiny of going public and with greater flexibility.
Source: Cheddar
Cheddar takes a deep dive into the recent meteoric rise and fall of three businesses: WeWork, Nikola, and Luckin Coffee.
Source: Zero Hedge
Who Is The Sucker In The SPAC Market? Authored by Irv Schlussel, Managing Director at IngleSea Capital, The SPAC market has become frothy and is reminiscent of the 1999 .com Bubble. SPAC evangelists (Bankers, Sponsors & Hedge Funds), most of whom are gaining great wealth from the Bubble, will say: “This time is different”. The argument they make is that SPACs are an increasingly mainstream, speedier path to IPO with less required disclosure and are acquiring better-quality companies than they have in the past. I think the less stringent regulation of SPACs feeds the risks borne by the end purchaser who is paying as much as 2X the true value of the underlying asset. The quality of SPAC acquisitions is poorer today than it has ever been, and the valuations are inflated as sponsors have no incentive to have any price discipline, rather their sole motivation is to get the deals done. When I think about the SPAC market, I see all the parties involved making money, including the sponsors, investors and acquired companies.
Source: Transcript Daily
Nikola (NASDAQ:NKLA) announced its earnings results on Wednesday. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.06, MarketWatch Earnings reports. Nikola stock traded down $1.62 during midday trading on Friday, hitting $18.10. 15,152,850 shares of the company’s stock were exchanged, compared to its average […]
