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Ever hear of "Bridge gate" SF ? That did Christie in, and also because the president has no friends. And the rotund fool still supports him. Classic !
Hello and good evening everyone,
I guess I'll just say "I told you so". Since many (not here of course) did not Expect The Spanish Inquisition.
Amazingly the dividend port was down minutely about 1%. Not so much for the trading account. Down about 5%.
Let the bloodletting begin ! I'll be at the pool sunning and swimming tomorrow.
Added to a plethora of names today. AMTD at 38, MA at 356 and 346 ( just a nibble ), PFE at 37.25 and 36.60, T at 29.40 and 29.45, RKT at 26, 26.95 and 29.25 ( pre meltdown- ouch ! ), FSLY at 88, Oh, also added to NEE at 278 etc etc...
Prior to this on Wednesday trimmed a nice chunk of profit from SHLL at $55 from $24 original purchase and adds. Hit on DKNG at $42 from a cost averaged around 34, but bought back later on Wednesday at $37.75 ( just lucky I guess), Also a little bit of profit from WKHS at $20 from 16.86. That was the day before. Business as usual. Closed SBUX at 86.50 from 78. That was first thing this morning. Also trimmed T this morning pre catastrophe at 30.10 from 29.60.
I'll be watching Bloomberg overnight to get an idea of what the foreign markets make of this.
Actually been swimming a lot and only heard of the meltdown later in the day, once my orders were in so it was a scramble to do what was done.
Nick, I did however swim 51 lengths at the club, about 2/3 of a mile. First time since December when I was in Florida that I've been able to build up to that. Too bad the summers almost over and indoor pools aren't open here. I can go for a few more weeks because the club's pool is heated, but after that it's flab city.
THAT'S ALL FOLKS !
Oh and before I forget- Opened JPM-H a few days ago at 25.96, may add more for that lovely dividend. Oh, and after closing ABBV at cost of 94, re-opened at 92. Won't add.
Correction, the NFBK trim was around a +244% return on investment.
Well Court it's like this- sometimes ya win and sometimes ya lose.
Thanks SF, not paying attention this morning could have gotten 100 more... oh well. Stop orders work well sometime. But...
Added to LVGO at 134.55
Added to TDOC at 212.08
trimmed SHLL at 39 +50.11%
Trimmed MA at 342.80 +18.44%
Trimmed NRZ at 8 +2.71%
Trimmed NFBK at 9.76 +1.25% on the day and +1505.64% on the investment. Yes that is correct, 1505.64% on the stock.
Trimmed KNOP at 13.17 +.77% (that's point 77 percent.)
More to report later...
Stopped out of TSLA at 1937. Oh well. Higher now at 2046, so I'll just take my $500 a share and go home.
Even cooler if SF doesn't hit any docks.
That's pretty tight Nick.
Trading portfolio 5% off it's all time right high now, can't say the same for the income portfolio. I'm getting ready with another 5% to bail from the trading portfolio and go all cash...
Good Morning Everyone,
I want to float this idea. With all the movement in the housing market there must be moving companies and storage companies that would benefit from this. What's your take on these sectors of the market. Any companies you might recommend to invest in?
Also a little late to the party, Real Estate broker/sellers and home builders. Further out, believe it or not shopping center developers. New housing needs corollary development... What about road builders and heavy equipment manufacturers...
When WMT was THE black sheep with low wages and billions in profits, and Amazon was nip[ping at their heels, WMT embarked on a plan to raise wages, increase their good will with advertising the benefits of working for WMT and their contributions to communities across the nation. WMT dove head first in to online sales business which cost them mucho buckos.
Those endeavors have paid off big time for them. WMT seems to stay ahead of the curve. When WMT was in a hole their plans to get moving out of it was well strategized and well capitalized. At that point WMT's stock fell like a rock and I was happy to pick it up and add it to my portfolio.
Oh WMT oh WMT where are you at 63.50 ?
Only thing I'd do is trade around this core holding, adding on dips and selling near tops. The chart is clear enough guys.
Incidentally, I'm maintaining my assertion that this market has topped out and will drop.
Just don't go hitting too many docks, SF.
SWT closed on a stop 98.60 at cost
NEE closed on a stop at 281 from a cost 280.90
Added to INTC at 49.30
Trimmed SBRA at 14.75 +3.17%
Added to NFBK at 9.47
Trimmed NRZ at 7.95 +2.81%
MAKING ME THINK TWICE ABOUT INVESTING IN SPACS:
The SPAC Market Is Deflating. Here's Why. -- Barrons.com
6:14 am ET August 16, 2020 (Dow Jones) Print
By Nicholas Jasinski
The hottest market in history for special-purpose acquisition companies, or SPACs, appears to be taking a breather. Practically every SPAC on my watchlist is currently trading lower than it was three or four weeks ago. That includes both searching SPACs that have yet to agree a deal with a target company, and those that have already announced mergers but haven't closed them yet.
SPACs are having a big year in 2020, with 70 completed initial public offerings and another 24 filed to IPO in the near future. Gross proceeds of all those offerings are already at $27.7 billion, according to SPAC Insider. That compares with 2019's 59 SPAC IPOs that raised a combined $13.6 billion -- both annual records at the time.
As the SPAC industry has matured in recent years, the universe of funds and institutional investors who participate in IPO and SPAC deals has grown. But the unprecedented flood of new SPACs on the market in 2020 has caught up with that growing investor base. There are now signs of an oversupply relative to the capital devoted to the sector, several SPAC investors say. That's begun to deflate prices across the booming sector in recent weeks.
Read More: Barron's cover story on how to invest in SPACs.
SPACs go public as cash shells, raising money from IPO investors who count on the SPAC's sponsor to find and negotiate an attractive deal with a real company down the road. Once the companies merge, SPAC shares convert to shares in the operating business, which effectively goes public in the process. At the time of the merger, SPAC shareholders have the option to redeem their shares for a proportionate amount of the cash in the SPAC's trust, usually $10 plus interest earned since the IPO.
Market turbulence in February and March pushed many SPAC share prices below their trust values, creating a nearly risk-free arbitrage trade for investors who had cash to put to work. As the broader stock market rebounded, SPACs came roaring back. Many pre-merger SPAC traded at 10% or 20% premiums to the cash in their trusts by June and July. SPACs from first-time or no-name backers rose alongside those from serial sponsors or experienced management teams.
It was a sign of investors' demand for SPACs, which look particularly attractive in 2020's uncertain stock market -- thanks to their downside protection and the chance to get in on the ground floor of a new stock. That encouraged a stampede of former CEOs, dealmakers, and financiers to raise new SPACs, with underwriters happy to oblige and collect fees. Characters getting involved in SPACs include the former co-CEO of Kodak, Moneyball executive Billy Beane, and sponsors from private-equity firms of mixed pedigree. All talented individuals in their fields, but does not automatically make them brilliant SPAC dealmakers.
SPACs have been announcing mergers left and right in 2020 as well, with well-received deals in areas including electric vehicles, online gambling, and fintech. But mergers haven't nearly kept up with issuance, and the number of searching SPACs on the market has ballooned to well over 100. There is now more than $40 billion of SPAC capital on the market searching for acquisition targets. There are thousands of potential targets out there, but it's fair to say that not all of those SPACs will agree to home-run deals, or be able to find ones before their deadlines at all.
Read More: Barron's feature on why more companies are choosing to merge with SPACs.
SPACs from higher-quality sponsors and with more shareholder-friendly terms still command a premium, but a slimmer one than before. Shares of Chamath Palihapitiya-sponsored Social Capital Hedosophia Holdings II (IPOB) recently traded at $10.97, down from a peak of over $12 in late July. Units of Bill Ackman-backed Pershing Square Tontine Holdings (PSTH.U), which include a common share and a ninth of a warrant, recently went for $21.66, down only slightly from their $21.79 high and at a decent premium to their $20 per share trust value.
SPACs from lower-profile backers haven't held their value as well. Shares of cannabis-focused SPAC Greenrose Acquisition Corp (GNRS) units were down to $9.80 recently, from an intraday high of $10.60 in mid July. About two dozen other SPACs trade below their trust values.
A string of soaring stocks that emerged from SPAC mergers has raised SPACs' profile with retail investors in 2020. Communities now exist on Twitter and Reddit devoted to trading SPACs. Nikola (NKLA), DraftKings (DKNG), and Virgin Galactic (SPCE) are three cult stocks that recently went public via SPAC mergers. At the peak of the SPAC market in June and July, SPACs merely issuing press releases about agreed deals would see their shares pop by double digits -- regardless of what the deal was. That phenomenon has also significantly decreased, with recent deal announcements getting more of a shrug from the market.
And the excitement around several SPACs that have announced deals but are yet to close them has also decreased. Tortoise Acquisition (SHLL), Graf Industrial (GRAF), and Spartan Acquisition (SPAQ) have all agreed upcoming mergers with electric or alternative-fuel transportation companies. Each is down significantly from its recent highs and has significantly fewer holders on the brokerage Robinhood. Opes Acquisition (OPES), Forum Merger II (FMCI), and Landcadia Holdings II (LCA) have likewise given back much of their post-deal announcement rallies. They've still earned great returns for investors who bought in at the IPO or while shares traded near their $10 trust values, but the hype has subsided.
Investors spreading capital across a much larger universe of SPACs -- and a bit more skepticism about the average quality of their eventual deals and less interest from retail investors -- has reduced the universe of SPACs trading at hefty premiums to their trust values. It's still a hot market for SPAC IPOs, but the top may be behind us.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
(END) Dow Jones Newswires
August 16, 2020 06:14 ET (10:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Added to NYCB at 9.67
Added to EPD at 18.66
Nick,
Followed you in to HD
,opened HD in trading portfolio at 288.90
In long term account as well.
What's your target on it. I'm thinking to unload as it's not behaving well.
Hi Nick,
I'll be out of TSLA on stops if it backs down. Just looking for a quick buck.
Speaking of which, It would seem you have that in ZM.
Good afternoon,
At the club for most of the day. Nick you'll note that I swam 40 lengths or a little over 1/2 mile.
You may also note that I trimmed WMG today at 30 from a cost of $29.22.
You may also note that my TSLA stock holdings are $400 per share higher than my cost. Question is how far do I push this electric jalopy down the road before emancipating more cash.
Out for a good part of the day, enjoying the weather and swim at the club. However, I did have time for a little trouble: Have a good weekend all !
Filled Buy NEE Limit 280.90 -- -- 12:15:48 08/14/20
Filled Buy DNB Limit 24.77 -- -- 09:31:43 08/14/20
Filled Sell NEE Stop Limit 281.31 281.50 -- 09:33:42 08/14/20
Filled Buy SBRA Limit 14.70 -- -- 09:18:37 08/14/20
Filled Buy DKNG Limit 34.00 -- -- 09:07:32 08/14/20
Yes but the question is do you see technicals calling for another round trip and if so at what price point?
Nick,
TLC is down again- is it a short termer ?
Added to SBRA at 14.70
Added to DKNG at 34
Added to DNB at 24.77
Closed NEE at 281.50 from 277.50 cost on a stop.
Far from socialist as they're being painted with a broad brush as being.
Added to NYCB at 10.09.
2 reasons why- Why I continue to add to T:
REASON NUMBER 1.
AT&T Senior Executive Vice President and CFO John Stephens Updates Shareholders
10:41 am ET August 12, 2020 (BusinessWire) Print
John Stephens, senior executive vice president and chief financial officer of AT&T Inc.* (NYSE:T), spoke recently at the Oppenheimer Virtual Technology, Internet & Communications Conference where he provided an update to shareholders.
Network resilience. While acknowledging the competitive nature of the connectivity business, Stephens expressed confidence in AT&T's ability to deliver upon the strength of its wireless and wireline networks. This comes at a time when connectivity has proven to be even more critical for both consumers and businesses.
Leveraging improved wireless capabilities via initiatives such as new spectrum deployment (including FirstNet) and software based network capabilities, the company continues to benefit from reduced levels of wireless churn (even including disconnects for the Keeping Americans Connected program), rising adoption of AT&T Unlimited Elite wireless plans, which include access to HBO Max, and ongoing resilience across its business operations. While the Keeping Americans Connected Pledge expired on June 30, the company continues to work with its customers to find ways to help them become current on their accounts, including by offering extensions and payment plans.
Financial flexibility. AT&T is confident that it can continue to strengthen its balance sheet while simultaneously investing for targeted growth in areas of market focus--broadband connectivity, both fiber and 5G, and software-based entertainment like HBO Max and AT&T TV. Stephens said that AT&T is committed to supporting the dividend on its common stock, which has increased for 36 straight years. For full-year 2020, the company expects its dividend payout ratio to be in 60s% range and is targeting the low end of that range.(1)
In addition, Stephens said that AT&T has continued to take advantage of low borrowing costs and rates to address upcoming debt maturities. As a result, the company has reduced the amount of its debt maturing within the next 4 years by about $23 billion, an improvement of about $8 billion since the end of the second quarter.(2) The company remains committed to opportunistically using its excess cash flow (after dividend commitments and capital expenses) to further reduce its debt levels. And AT&T continues to pursue asset monetization opportunities to further expand the company's financial flexibility.
Cost transformation initiatives. While visibility into the impact of COVID-19 on the overall economy and the duration of that effect remains somewhat limited, Stephens noted that AT&T is positioned to build upon its existing transformation initiatives. This will allow AT&T to leverage prior network expansion and optimization investments, streamline its IT / distribution systems and align its operations to drive deliberate investment in key areas of strategic focus. The recent retail location changes and reorganization of WarnerMedia are some of the steps taken to further execute against AT&T's goal of driving out incremental costs and realizing additional efficiencies throughout its operations.
Capitalizing on evolving consumer demand for content. Following the successful launch of HBO Max, Stephens noted that the recent reorganization of WarnerMedia will accelerate the businesses' transition to meet evolving consumer needs. At the same time, WarnerMedia plans to continue to invest in content, expand its reach and scale and effectively operate its legacy businesses.
The uncertainty around the duration of COVID-19's impact makes it difficult to assess the slope of recovery in key areas of operations (e.g., advertising, theatrical release timelines and the resumption of content production). However, recent initiatives will better align WarnerMedia's structure to help it meet its goal of fulfilling consumers' ever-growing desire for high-quality content and well-told stories - when, where and how they want them. As previously announced, AT&T ended its most recent quarter with 36.3 million domestic HBO Max and HBO subscribers, up 1.8 million from the end of 2019 and tracking to the company's original end-of-year 2020 guidance.(3)
(1)Free cash flow dividend payout ratio is total dividends paid divided by free cash flow. (2) AT&T's reduction in debt maturities is based on debt to be retired in 2020 through 2023 and excludes commercial paper. (3) AT&T's projections included both HBO Max and HBO subscribers.
*About AT&T
AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. AT&T Latin America provides pay-TV services across 10 countries and territories in Latin America and the Caribbean and wireless services to consumers and businesses in Mexico.
AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. (C) 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company's website at https://investors.att.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200812005499/en/
SOURCE: AT&T Inc.
For more information, contact:
Fletcher Cook
AT&T Inc.
Phone: 214-912-8541
Email: fletcher.cook@att.com
Daphne Avila
AT&T Inc.
Phone: (972) 266-3866
Email: daphne.avila@att.com
REASON NUMBER 2.-
AT&T Targets Dividend Payout Ratio to be in 60% Range in 2020
11:09 am ET August 12, 2020 (Dow Jones) Print
By Dave Sebastian
AT&T Inc. said it expects its dividend payout ratio to be in the 60% range and toward the low end of that guidance, though it said it has limited visibility into the path to recovery in key areas of operations such as advertising and theatrical releases due to Covid-19.
AT&T said it is committed to supporting the dividend on its stock.
The company said it has reduced its debt maturing within the next four years by about $23 billion, down by about $8 billion since the end of the second quarter. It is using excess cash flow to further reduce debt, AT&T said.
AT&T said its WarnerMedia unit plans to continue to invest in content.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
August 12, 2020 11:09 ET (15:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Great article. Unless I'm missing something in my scans, I ask what's the name of the fund he's managing ?
Out of my old nemesis ABBV at 94.83 cost on a stop. I hate that stock... Have a buy order in for a lower price to get more "value" out of this little doggie.
Added to T at 29.90
Reopened SRNE at 13.75 on news.
Reopened CSCO at 42.85, waited too long on this since congratulating myself as the TSLA trim was still taking up most of my attention. Anyone have confetti ?
My last foray into CSCO was mostly fruitless with only a few bucks a share... We'll see, rabbit, we'll see...
Added to NRZ at 8.05
Sorrento to Take Action Against Hindenburg Research for Statements Believed Intended to Manipulate Stock Price
7:51 pm ET August 12, 2020 (Globe Newswire) Print
Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento") announced today that it believes it has uncovered fraudulent attempts to manipulate the Company's stock.
On August 11, 2020, it was reported that an organization calling itself "Hindenburg Research" published claims regrading one of Sorrento's COVID-19 diagnostic products. The report is believed to include false and/or misleading statements for the sole apparent purpose of negatively manipulating the company's stock price.
Sorrento will collaborate with law enforcement and regulators to ensure that any criminal activity is investigated and rectified. Sorrento, through its legal counsel, Paul Hastings LLP, has demanded that the organization cease and desist from illegal and wrongful activity and retract false and/or misleading statements. Sorrento is also considering legal action.
Sorrento Therapeutics remains focused on developing a portfolio of COVID-19 solutions that spans diagnostics, prevention, early intervention and rescue therapies, including its rapid on-site detection test for SARS-CoV-2 Virus in saliva.
About Sorrento Therapeutics, Inc.
Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to treat cancers. Sorrento's multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies ("G-MAB(TM) library"), clinical stage immuno-cellular therapies ("CAR-T", "DAR-T(TM)"), antibody-drug conjugates ("ADCs"), and clinical stage oncolytic virus ("Seprehvir(TM)", "Seprehvec(TM)"). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVIDTRAP(TM), ACE-MAB(TM), COVI-MAB(TM), COVI-GUARD(TM), COVI-SHIELD(TM) and T-VIVA-19(TM); and diagnostic test solutions, including COVI-TRACK(TM) and COVI-TRACE(TM).
Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin ("RTX"), and ZTlido(R) (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX is completing a phase IB trial for intractable pain associated with cancer and a phase 1B trial in osteoarthritis patients. ZTlido(R) was approved by the FDA on February 28, 2018.
For more information visit www.sorrentotherapeutics.com
Forward-Looking Statements
This press release and any statements made for and during any presentation or meeting contain forward-looking statements related to Sorrento Therapeutics, Inc., under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding Sorrento's technologies, including COVI-TRACE(TM). Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks related to Sorrento's technologies and other risks that are described in Sorrento's most recent periodic reports filed with the Securities and Exchange Commission, including Sorrento's Annual Report on Form 10-K for the year ended December 31, 2019, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law.
Media and Investor Relations
Contact: Alexis Nahama, SVP Corporate Development
Telephone: 1.858.203.4120
Email: mediarelations@sorrentotherapeutics.com
Sorrento(R) and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.
ZTlido(R) and G-MAB(TM) are trademarks owned by Scilex Pharmaceuticals Inc. and Sorrento, respectively.
Seprehvir(R), is a registered trademark of Virttu Biologics Limited, a wholly-owned subsidiary of TNK Therapeutics, Inc. and part of the group of companies owned by Sorrento Therapeutics, Inc.
All other trademarks are the property of their respective owners.
(C) 2020 Sorrento Therapeutics, Inc. All Rights Reserved.
https://ml.globenewswire.com/media/0111f4df-8430-4285-9ae5-b11617628ee9/small/15-sorrento-therapeutics-logo-final-png.png
Thanks Court, a nice trade but not atta boy- able. Poor poor pitiful me.
Cost basis on TSLA now at 1437, FIFO.
Good morning all.
Added to NFBK at 9.93
Trimmed TSLA from 1470 at 1650
Was out all day today and some stops came in to play:
Closed PDCO at 26.75 from a cost basis of 22.
Closed SWT at 100 from a cost of 94
Closed FEYE at 15.10 from a cost of 12.12
That's All Folks !
TX Court. I'll take that as an atta boy.
And guess what ! I don't know whether I'll be happy or saddened...
Reopened NEE at 277.50. Stop's in.
Talking about glutton for punishment.
Posting using my phone is horrible. Explains the redundant post.
TSLA announced a 5 for 1 stock split. That nutty Elan Musk is crazy like a fox. Up 3% after hours.
And guess what ! I don't know whether I'll be happy or saddened...
Reopened NEE at 277.50.
Talking about glutton for punishment.
While relaxing by the pool I reduced my sell target from 333.. Trimmed MA at 328.72, 13.47%. On a cost of 289.69.
I'm heading to the hot tub now !
Nick,
But before I go,
Stops hit on these-
Trimmed RH at 304.50 3.53% profit
Add SLV 23.28
Add CGC 18.96
And now- I am outa here ! ( I STAY OUT OF THE SUN TILL AFTER 5 O'CLOCK OR SO. STAY AT THE CLUB TILL 8 OR 9 PM. )
WOO HOO !
You're welcome Nick.
Trimmed NRZ at 8.54 1.65% plus return.
Trimmed NFBK at 10.18 ... 296.51% profit
( yes that's correct, not a typo )
And I am out of here! Swimming pool's a callin' Time to swim 1/2 mile.
Yippee !
Trimmed KNOP at 13.95. 3.09% return.
Sit back and relax, help with big $$$ flooding into the markets. Institution and retail alike. Come one come all. Quick quick get in to this market before it crashes !
Atta boy Nick with NEEPRJ !
Incidentally, out of ZI at 39.75 cost. Oh well, stopped out.
2 ARTICLES ABOUT ELECTRICS-
THE FIRST ARTICLE HERE:
3 Electric Vehicle ETFs To Floor It With
9:30 am ET August 11, 2020 (Benzinga) Print
Tesla (NASDAQ: TSLA) is just one example and a stellar one at that, which is to say electric vehicle stocks are on fire this year.
While a spate of small companies small, obscure electric vehicle manufacturers are striking while the iron is hot and testing the initial public offering market, there are credible fundamentals backing the ascents Tesla and other established players in this arena.
“The Electric Vehicles Market is projected to reach 26,951,318 units by 2030 from an estimated 3,269,671 units in 2019, at a compound annual growth rate of 21.1%,” according to Markets and Markets research.
That buoyant forecast could bolster the case for the following electric vehicle exchange-traded funds.
Global X Autonomous & Electric Vehicles ETF (DRIV)
The Global X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV) is nearly 2 1/2 years old and considering how hot the EV theme is, the fund is somewhat obscure with just $30 million in assets under management.
Up almost 12% year-to-date after hitting an all-time high on Monday, DRIV may be an underappreciated story. What's notable about this fund's ascent is that it's not heavily dependent on Tesla as a primary driver of returns. In fact, Elon Musk's company accounts for less than 3% of DRIV's weight. Rather, the Global X ETF offers a deeper reach into the EV ecosystem, featuring exposure to manufacturers as well as components makers.
DRIV follows the Solactive Autonomous & Electric Vehicles Index and its top two holdings are high-flying Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA).
SPDR S&P Kensho Smart Mobility ETF (HAIL)
Up 18.21% this year, the SPDR S&P Kensho Smart Mobility ETF (NYSE: HAIL) also joined the all-time high club on Monday. Like its aforementioned rival DRIV, HAIL isn't excessively allocated to a single stock.
And while HAIL isn't a dedicated EV ETF per se, it does offer solid reach into a variety of manufacturers as Nio (NYSE: NIO), Workhorse (NASDAQ: WKHS) and Tesla are found among the fund's top 10 holdings. HAIL's 4% Workhose weight is one of the largest such exposures among all ETFs.
Like DRIV, HAIL also offers a deep bench in terms of broad EV exposure. The SPDR fund features exposure to more than 15 industry groups.
iShares Self-Driving EV and Tech ETF (IDRV)
The iShares Self-Driving EV and Tech ETF (NYSE: IDRV) is one of the newer offerings in this category at a little over a year old.
It has a deep bench of 101 stocks, which is sizable compared to other thematic offerings and the fund is an option for investors looking for decent Tesla exposure as the stock is IDRV's largest holding at a weight of 6%.
That plus Apple and Nvidia combine for 9.5%. Add those three up and IDRV has the goods to at least pique investors' interest.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
THE SECOND ARTICLE HERE:
NIO Stock Drops Even After Solid Earnings. But That's What's Usually Happens. -- Barrons.com
10:24 am ET August 11, 2020 (Dow Jones) Print
By Al Root
Stock in Chinese electric-vehicle maker NIO was falling Tuesday morning after the company reported second-quarter sales that were better than expected. Despite the reaction, the report is another good data point for the EV industry, demonstrating that Chinese EV demand and EV penetration rates continue to improve off pandemic-induced lows.
NIO (ticker: NIO) lost about 16 cents a share -- NIO reports figures in Chinese currency -- from roughly $526 million in sales. Both numbers are better than analysts expected. NIO isn't profitable yet. Earnings matter less than sales at this point in the company's history. Sales exceeded estimates by about 6%.
What's more, gross profit margins were better than management guidance. "With the strong momentum of quarterly deliveries, rise of average selling price, reduction of battery pack and other [compensation] costs and improvement of manufacturing efficiencies, our gross margin has substantially increased in the second quarter," CEO William Li said on the company's earnings conference call. That is another positive for investors to take away from the quarterly report.
NIO shares were down 2.8% to $13.82. Expectations were high after a 280% gain over the past three months. Year to date, shares are up about 250%, far better than comparable returns of the S&P 500 and Dow Jones Industrial Average. Other EV stocks have done just as well. Tesla (TSLA) shares are up about 240% year to date.
Gains have made Tesla the most valuable car company in the world, and its success has helped all EV stocks, including NIO.
Looking ahead, NIO expects to deliver 11,000 to 11,5000 vehicles in the third quarter, up more than 125% year over year. NIO sells cars only in China and is covered by analysts stationed overseas. That makes it harder to get vehicle-delivery estimates and compare guidance to the expected figure. Numbers for U.S. based companies are easier to come by. Tesla analysts, for instance, expect Elon Musk's company to deliver 146,000 vehicles in the third quarter of 2020.
The question-and-answer period during the earnings conference call didn't cover much new ground. Analysts asked about autonomous-driving technology, overall demand -- which was called strong by company management -- and profit margins.
There was an interesting question asked about overseas expansion. Management said it would like to expand overseas, but didn't provide details.
NIO vehicles use battery swap technology, in addition to traditional plug-in EV charging. Being able to swap battery packs allows owners to keep one charged all the time, essentially reducing the vehicle down time for recharging. An EV swapping infrastructure isn't required to sell NIO vehicles overseas, but it may represent a small planning headwind for the company to consider.
Overall, investors don't have much to complain about. Still, anticipating the stock reaction can be hard, although with NIO it has been pretty predictable. Shares have dropped following five of the past seven quarterly reports.
Over the short run, Wall Street -- or the Chinese equivalent of Wall Street -- is an expectations game.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
August 11, 2020 10:24 ET (14:24 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
That deserves an atta boy Elroy !
Reopened ZI at 39.75.
A favorite of mine since its IPO. Made a ton last time... Let's see...
Trimmed WKHS 15.56- plus 1.93%
Trimmed NYCB 10.65- plus 2.9%
It's personal Nick (LOL)
Every time I buy it after careful evaluation it drops. I hate it. Though I will add lower if ever it occurs.
Same with NEE, though I have this in my long term hold and forget portfolio. Each time I trade it I don't make a cent. I buy it, it goes down. I sell it at cost, it goes up. I hate it ( I have a buy order in for NEE as well )
Anyone have an eye on RTX or QCOM ?
Trimmed DKNG from yesterdays add at 30.91. Trimmed today at 33.14
Trimmed SBUX at 79.32 from 78 - 2.36% return.
I think I forgot to mention this today:
Filled Sell ETSY Limit 133.54 -- -- 07:42:55 08/11/20
Filled Buy ETSY Limit 131.50 -- -- 09:29:57 08/11/20
P.S. I hate ABBV !
NRZ perhaps Nick ?
I certainly was not recommending Vornado Nick, You're doing just fine with your REITs. SPG, etc.
Added to SLQT at 20.25
My opinion- We are getting to the very edge of this market. It's bound to take a tumble soon. My opinion.