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Bought back CLFD 5 Calls and LMT 4 Puts. Sold parts of: MHO, WLDN, CSGS for small gains.
Rolled forward ALGN 3 Covered Calls also for a more profitable trade for me a month later in the future.
Cerebras reveals revenue surge in US IPO filing, aims to challenge Nvidia in AI chip market
REUTERS 12:08 PM ET 10/1/2024
Symbol Last Price Change
NVDA 117.77up -3.67 (-3.0221%)
QUOTES AS OF 12:09:55 PM ET 10/01/2024
By Manya Saini and Pritam Biswas
Oct 1 (Reuters) - Cerebras Systems, a startup competing with industry leader Nvidia(NVDA) for a slice of the lucrative AI chip market, said late on Monday its revenue surged more than threefold in 2023, in a filing to go public in the U.S.
Initial public offerings in the U.S. have bounced back in 2024 after a two-year dry spell, driven by growing hopes of a soft landing and stocks trading at record highs. Analysts see more gains ahead as investor sentiment improves and expect AI firms to lead the charge for tech listings.
Cerebras' revenue surged to $78.7 million in the 12 months ended Dec. 31 versus $24.6 million a year earlier. Loss narrowed to $2.92 per share compared with $4.28 apiece.
The company said 83% of its total annual revenue came from AI tech group G42, which is partly owned by Abu Dhabi's sovereign investor Mubadala. In the IPO prospectus, Cerebras listed its commercial relationship with G42 among the key factors that can affect its performance.
Citigroup and Barclays are the lead underwriters of the offering. It is looking to list on the Nasdaq and trade under the ticker symbol "CBRS".
While Cerebras is yet to reveal the terms of its IPO, Bloomberg News, citing sources, reported late last month it could seek to raise up to $1 billion.
AI RACE
The Silicon Valley startup will seek out investors for the share sale at a time when investor enthusiasm for all AI-linked chip companies remains robust. In its IPO prospectus, Cerebras said it expects the AI computing market to grow to $453 billion in 2027 from $131 billion in 2024.
"It seems fair to suggest that we could see a new wave of tech companies coming to market, given previous appetite for innovation among investors in the States," Dan Coatsworth, investment analyst at AJ Bell, told Reuters.
"Anything AI-related should have an easy story to tell and investors love a good narrative when they're seeking new opportunities."
Nvidia's (NVDA) stock has seen a monster rally this year, surging around 140%, solidifying its position as one of the world's most valuable companies. Its advanced hardware helps OpenAI develop the underlying software that powers apps such as ChatGPT.
Cerebras is betting its roughly foot-wide chip can outperform Nvidia's(NVDA) hardware, which is a cluster of thousands of chips stitched together.
In August, Cerebras launched a tool for AI developers that allows them to access the startup's outsized chips to run applications, which it said was a much cheaper option than Nvidia(NVDA) processors.
(Reporting by Pritam Biswas and Manya Saini in Bengaluru; Editing by Devika Syamnath and Krishna Chandra Eluri)
Rolled 7 Covered Calls in GOOG from 160 to 170 it was bought at 173.18.
For September the Trading Portfolio(most trades reported here) was up 11%.
When on October 6, 1973, Egypt and Syria attacked Israel's forces in the Sinai Peninsula and the Golan Heights, oil prices practically doubled immediately, oil is up and so is gold..
According to the DOD Iran is ready to launch a ballistic missle attack against Israel. The markets are considering this and are down. I am not buying anything at this point, until I see how this unfolds.
Americans are more Reliant than ever on Governmental Aid
An aging population and economic distress raise dependence on federal and state support.
Voters in American counties with a large percentage of older Americans receiving aid turn to Republicans to turn off the flow of costly aid to retired loafers.
Retired Clay County voter Fred Herbert, tells the Wall Street Journal, "I'm not going to vote for any candidate unless I can be certain he'll give me both a punch in the face, and also a kick in my pants. I'm a welfare loser, a beneficiary of subsidized property taxes under the Save Out Homes welfare assistance program and I'm also a big Medicare-taker. Somehow I have to be stopped. That's why I'm a member of Tea Party Seniors with Guns. We're holding Maneuvers against Medicare this weekend."
"I'm just grateful that Rupert Murdoch's Wall Street Journal is sharing my disgraceful story."
https://www.wsj.com/politics/elections/americans-government-aid-social-security-medicare-unemployment-34e92b19
CVS mime trapped in a box - searching for shareholder value.
Over half of every dollar spent on medicines goes to pharmacy benefit managers (PBMs), insurers and big pharmacy chains that are driving up costs for patients.
I know, let's focus on our PBM business, or find a new top-selling product line to replace oxycodone, or the medicinal Scotch Walgreens sold during Prohibition - that made Walgreens, a small Chicago drugstore, into a national chain.
Drugstore chain CVS Health Corp. has hired investment bankers to explore ways to create shareholder value.
The Wall Street Journal reports CVS is rethinking its physical pharmacies, by cutting staff and store count to focus on their PBM (pharmacy benefit management) business as drugstore profitability declines and the FTC just issued a report citing PBMs as one of the primary causes of rising drug prices.
https://phrma.org/middlemen
After doubling the number of pharmacies, CVS finds the secret to profitability might be far fewer pharmacies - and perhaps open fewer hours with fewer employees.
synergy
"The Coroner said the cause of death was an synergy, secondary to a decade long $48.5 billion hemorrhage."
We had this conversation here probably a decade ago. Regulators were so concerned that a business on crutches and another in a wheelchair were going to hinder competition when neither of them mattered to anyone with a good internet connection. AT&T is just trying to finally exit another of their famously bad investments. If you want to understand just how dumb the idiots at Direct are, read the following nonsense:
DirecTV will acquire Dish for a nominal $1 and assume Dish's debt of $9.75 billion.
Bond holders were pleased, but no one else noticed.
Added: MRX, ATAT, OPRA.
Sold ARCT.
Rolled to a higher strike price and paid for it: JD, CVS.
Lower highs are not a good sign.
AMZN 5 Puts(500 shares) were called away at 182, my strike price, which I do not mind since I bought them at 177, minus several traded Calls for a gain each.
Well, he sort of has it right, they're all tools.
Austria's far-right Herbert Kickl drops the Stongman/Putin-suck-up routine that Trump, Orbán and other far-right bully-weaklings have perfected.
This new makeover features a sincere look with the slogan "You are the boss, I am your tool".
Of course he still really means the classic nazi slogan, Ich bin der Führer, ihr seid mein Werkzeug - Sieg Heil, "I am the boss, you are my tools - Hail Victory"
Donald Trump’s "Get out the vote campaign" is now dependent upon 400 AmericaPAC employees hired and funded by our favorite former South African Elon Musk.
The Trump campaign always planned to outsource voter turnout efforts to Super Pacs, but his has become just one.
Musk's Super PAC is focused on turning out Trump supporters in rural areas of battleground states, voters with a lot of mouth and riot-ready, but who typically don't actually vote.
Trump hopes Musk is able to generate enough of what Trump calls "fraudulent mail-in votes" to turn the tide.
https://www.theguardian.com/us-news/2024/sep/26/trump-voter-turnout-elon-musk-pac
This does a good job of explaining the rise of "right wing nazis" in former communist East Germany.
Upon reunification 50% of the working age population, the ambitious smart and well qualified, left for West Germany - reducing the population of former East Germany by 1/3 - leaving a very elderly population in the East along with the less competent and the less ambitious.
Apparently former East Germans also object to the fact that 80 to 85% of the reconstituted former East German companies, now owned by West German and international investors, are being run by former West Germans - largely bright young things hired from the reunification Guiding Hand Agency.
And for some reason they objected to the treatment by the Guiding Hand employees, like one of my friends recruited from college before she went on to work for l'Oreal in New York and currently with Gallo Wines here in California. She taught a managerial accounting course in East Germany to senior communist managers, and a consumer class on how to make choices in a market economy to students she describes as "unblinking sheep who didn't want to participate or learn". On the last she told me she complained to them, "This is the last class and you still don't even know how to buy toilet paper to wipe your asses with - what is to become of you?"
East Germany had a population of 0.5% immigrants while West Germany has a population of 20% immigrants, mostly westernized Muslims from Turkey.
Pioneered by Konrad Adenauer and Helmut Kohl the Gastarbeiten program to deal with post-war labor shortages brought in workers from Italy 1955, Spain 1960, Greece 1960, Turkey 1961, Morocco 1963, South Korea 1963, Portugal 1964, Tunisia 1965, and Yugoslavia 1968. The guest workers and their families become German citizens. No big deal former West Germany.
But now East Germany has gone from 0.5% immigrants to 3%, often refugees from Syria and elsewhere assisted by the Federal government, owing to the large number of empty buildings and infrastructure in former East Germany - and the former communists of the East are flipped out by this and carrying swastikas.
Former West Germans, living with 20% immigrants for decades think these Easties are crazy communists afraid of the outside world.
I enjoyed this interview with Conservative Party diplomat and politician Rory Stewart https://en.wikipedia.org/wiki/Rory_Stewart
Taking place just before the election Labor Party candidate Keir Starmer won, the interviewers objected to the Conservative Party and objected to Keir Starmer not issuing any detailed plans, rather campaigning on the unpopularity of Rishi Sunak. Rory Stewart suggests Starmer and Conservatives are not feckless, but rather probably know voters like the interviewers all too well - they know voters don't like hearing about reality and real answers.
To the increasing distress of his interviewers he explains why public policy decisions have to be made within the confines of reality, a place where ever fewer voters want to live.
Rory explains how Transit London is funded in large part by building permit costs, which has led to a shortage of affordable homes - as only costly homes can afford to pay the fees.
Like most voters the interviewers find this state of affairs objectionable, but like most voters they viscerally object to the idea of funding transit and road with higher ticket and use fees, or paying for transit with higher taxes on income or property.
One interviewer asserts that "voting for third party radical candidates is the only way to hold Britain's two main parties to account", but Rory says the only important outcome will be what solutions these radical strong-man politicians (into which category he included Boris Johnson) will choose. Rory asserts radical strongmen are also constrained by the same reality, so also fail voter expectations.
Closed HOOD for a nice gain and selling CRNC, likewise.
Added MARUY and watching HOOD climbing.
Corey DeAngelis, far-right-wing MAGA Cato Institute scholar, senior fellow at Betsy DeVos' anti-public school school organization, and Project 2025 co-author, and author of "The Parent Revolution", is also a gay porn performer using the pseudonym Seth Rose.
While less eye raising than the Republican Black Nazi running for governor of North Carolina, this has led Betsy DeVos to delete all mention of DeAngelis from her Federation for Children website. It's not known if DeAngelis and his "campaign against the woke mind virus" remains on the board of her right-wing school organization.
Corey DeAngelis will appear this weekend at the "Rescue the Republic" MAGA event, alongside RFK Jr., Russell Brand, and Jordan Peterson, these last two far-right speakers who are not even American citizens. The money available to be made in the MAGA universe has attracted millions of grifters.
Isn't it supposed to be underwater?😇
Today in a few minutes the PCE Report will be of interest.
Just testing the sub for leaks...:).
Bought back LMT 4 Puts. Also, PFE 15 Calls. NTLA 1 Call and sold AU.
Looks like an elevator ride so far today in LLY. Perhaps into the close it will bounce.
Round tripped NVDA 10 Calls, lightened up on loser BMBL 1/5. Added: CM GOLD, DXPE.
Bought back RCL 5 Puts and sold BCH. All are gainers except for BMBL, but its value to me dropped significantly.
Doubled up in LLY at 910.82, will hold to about 925+.
It's pervasive Nick. I was sitting in the library at the hotel in Winchester this evening when they announced the film chosen for "Friday night Cinema"; Gone with the Wind.
Yeah, Old Blighty, it hasn't changed much.
I am sad to say that America reached a new low in politics. I am not surprised that there are Trump supporters, but that there are enough to be in the news and even run a candidate for President.
4,000 people left Trump's North Carolina rally after ten minutes when their attendance payment arrived in their Venmo account.
A reporter asked many why they were leaving, they all said they were paid to attend the rally if they uploaded a photo after the 10 minute mark to their account at Trump's payment website.
It happens every Trump rally now.
— CoffeyTimeNews - 🇺🇸’s Emotional Support 🇨🇦 (@CoffeyTimeNews) September 25, 2024
Soon as the Venmo transaction hits their account, paid attendees get up and leave.
While he is drooling on himself at the podium.https://t.co/yJiyz8JKs4
Putin is receiving some benefit for the Russian GRU's purchase of DJT stock. I imagine the same will be true of Russia's purchase of Trump crypto coins.The sound of Americans cheering Vladimir Putin at a Trump rally should disgust every right-thinking person, but it’s a sign of how corrupt the Republican Party has become that they boo Zelensky and cheer Putin at Trump’s behest.
— Rick Wilson (@TheRickWilson) September 25, 2024
From a YTD gain of 134% as of yesterday's close I dropped to 123%.
Closed my biggest loss of the year: VTNR, 3000 shares for a 99% loss. Also another loser is gone: NVCR for 25% loss.
Is he referring to his favorite candidate: " Herro can be seen in a YouTube video recorded that year delivering a profanity-heavy spiel for crypto and other weird assets: “You can literally sell s— in a can, wrapped in piss, covered in human skin for a billion dollars if the story’s right, because people will buy it.”
I'm so surprised..:). The Trump family, (including Barron), have begun their crypto cesspool; World Liberty Financial. From the LA Times last week:
Trump and his family jump into crypto, which the FBI calls a hive of ‘pervasive’ criminality
There have been a couple of new developments in the crypto world over the last few days just begging to have their dots connected. Here they are:
On Sept. 9, the Federal Bureau of Investigation issued its annual report on cryptocurrency fraud. The FBI found that, in 2023, crypto-related fraud absolutely exploded, with $5.6 billion in losses suffered by Americans. That was a 45% increase over the year before.
“Criminal actors exploit cryptocurrencies in each scheme category” tracked by the agency’s Internet Crime Complaint Center,” Assistant FBI Director Michael D. Nordwall wrote in the report. Crime was “pervasive” in the field, he wrote, with the most common victims being investors; their losses accounted for nearly 71% of the total.
Round tripped IDR for the for 6% gain on 2k shares.
Twitching only.
Yet they move anyway
In the Pre sold QFIN, NBBK and SN.
Later sold ZIM and will pay the taxes.
Opened: OKTA, ALK, IDR, BCH, PAM.
Sold 4 Puts in LMT.
In the Pre sold QFIN, NBBK and SN.
Later sold ZIM and will pay the taxes.
Opened: OKTA, ALK, IDR, BCH, PAM.
Sold 4 Puts in LMT.
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