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There'll be a Taco Bell on every block Nick.
SF- very early on in March as it became evident to me how serious this pandemic is I wrote here that restaurants would be beneficiaries of this cataclysm. Well, I was right to an extent. McDonald's, Chipotle, Dominos and Papa Johns for example have been major beneficiaries to name a few.
Many will fail, others will thrive as this horrible disease is left behind.
...and yes Court, you can't argue that Nobody Expects the Spanish Inquisition. And that's important.
Sounds good morokoy. Fertitta is no dummy. He's put together a deal where he's taking his privately held company public while still owning the brick and mortar and being CEO of the new online company. Sweet deal- for him. Provides cash and offsets some of the losses he's been suffering with closures.
How it's structured and who benefits is not important to me for the small amount of cash I'm investing.
I got in to NKLA on it's IPO and rode that pony till I got an 85% profit in a day, and that was structured similarly so on LCA. I may be able to get in earlier before the merger and IPO. I'll take my chances with this one. Have stop loss already in place.
To Quote a notable individual from my favorite celebritys (Bugs Bunnys) short films- "Could be Rabbit...could be..."
But you know Court, Nobody Expects the Spanish Inquisition (Except Nick of course). So I wouldn't be so despondent over the markets resilience just yet.
Morokoy,
I don't follow LCAHW warrants. LCAHU is another SPAC that I'm unfamiliar with. Since it doesn't have an acquisition or merger target thus far that I'm aware of, I'm not following it. It could pay off, but I think it's risky. I think that:
LANDCADIA HOLDI/SH CL A (NASDAQ: LCA) announced Monday that it is acquiring Golden Nugget Online Gaming, Inc. in a move to take Golden Nugget's online gaming business public.
That it will make Tillman Fertitta a lot of money. Since he's using other peoples money to finance his move into online gaming. If you believe that online gaming is going to be a mainstay of the gaming industry as I do you might think this is a good investment. Since I'm in DKNG I felt this was complimentary to my portfolio. Incidentally, though I rode DKNG up and rode it hard and well, after taking considerable profit I went back in and am still waiting to get back in the money. So there's that...
These SPACs seem to have some merit. NKLA and SHLL appear to be viable though risky. I'd be very very careful about getting trapped in a downward spiral with any of these.
Online Casino Golden Nugget To Go Public Through Landcadia Acquisition
9:54 am ET June 29, 2020 (Benzinga) Print
LANDCADIA HOLDI/SH CL A (NASDAQ: LCA) announced Monday that it is acquiring Golden Nugget Online Gaming, Inc. in a move to take Golden Nuggett’s online gaming business public.
What Happened: Lancadia II is acquiring Golden Nugget’s online business with the intention of changing its name to Golden Nugget Online Gaming and listing on the Nasdaq exchange under the ticker "GNOG."
Why It's Important: Golden Nugget Hotels & Casinos owns five hotels in casinos in Atlantic City, Las Vegas, Biloxi, Lake Charles and Laughlin. The company Golden Nugget is owned by Tilman Fertitta and privately held Fertitta Entertainment.
Lancadia II is a publicly traded special purpose acquisition company co-sponsored by Fertitta Entertainment and Jefferies Financial Group. Tilman Fertitta will remain chairman and CEO of GNOC.
When GNOG goes public, it will offer investors a rare pure play on online gambling.
"GNOG is one of the best positioned companies to capitalize on this massive online gaming opportunity in the U.S.," said Rich Handler, co-chairman of Landcadia II and CEO of Jefferies.
The Golden Nugget has already established a position as an online gaming market leader in New Jersey and plans to expand into Pennsylvania and Michigan in early 2021.
GNOC launched in New Jersey in 2013 and has been profitable since 2016. The company reported more than $11 million in net income in 2019.
The deal values the new company at a pro forma enterprise value of about $745 million. The new company is expected to generate $122 million in 2021 revenue.
GNOC expects the transaction to close in the third quarter.
Benzinga’s Take: There are plenty of casino stocks out there, but relatively few online gaming pure-plays. Online gaming has received a lot of attention in 2020 after brick-and-mortar casinos around the world were forced to close down due to the COVID-19 outbreak.
Freed up some cash with TQQQ at 92. from yesterdays purchase of 90.50.
Hey, at least it's something.
Reopened WMG at 31.
Barclays Initiates Coverage On Warner Music Group with Equal-Weight Rating, Announces Price Target of $28
7:39 am ET June 29, 2020 (Benzinga) Print
Barclays analyst Kannan Venkateshwar initiates coverage on Warner Music Group (NASDAQ:WMG) with a Equal-Weight rating and announces Price Target of $28.
Latest Ratings for WMG DateFirmActionFromTo
Jun 2020JP MorganInitiates Coverage OnOverweight Jun 2020BarclaysInitiates Coverage OnEqual-Weight Jun 2020Evercore ISI GroupInitiates Coverage OnOutperform
Evercore ISI Group Initiates Coverage On Warner Music Group with Outperform Rating, Announces Price Target of $36
7:04 am ET June 29, 2020 (Benzinga) Print
Evercore ISI Group analyst John Belton initiates coverage on Warner Music Group (NASDAQ:WMG) with a Outperform rating and announces Price Target of $36.
Latest Ratings for WMG DateFirmActionFromTo
Jun 2020JP MorganInitiates Coverage OnOverweight Jun 2020BarclaysInitiates Coverage OnEqual-Weight Jun 2020Evercore ISI GroupInitiates Coverage OnOutperform
SunTrust Robinson Humphrey Initiates Coverage On Warner Music Group with Buy Rating, Announces Price Target of $35
7:00 am ET June 29, 2020 (Benzinga) Print
SunTrust Robinson Humphrey analyst Matthew Thornton initiates coverage on Warner Music Group (NASDAQ:WMG) with a Buy rating and announces Price Target of $35.
Latest Ratings for WMG DateFirmActionFromTo
Jun 2020JP MorganInitiates Coverage OnOverweight Jun 2020BarclaysInitiates Coverage OnEqual-Weight Jun 2020Evercore ISI GroupInitiates Coverage OnOutperform
Many of the major stocks that we follow and invest in are trading higher on LIGHT volume. Not a good sign for continued up moves in the markets...
Opened LCA at 15
To be more precise. Sold 1/2 FB position in taxable account at 209.70. Opened 1/4 position in FB at 209 in qualified non taxable account.
I'll free up cash in non qualified taxable account transferring stock asset/liability to qualified account. Freeing up cash in non qualified taxable account for other purposes, perhaps a real estate purchase this year or next. I intend to sell most positions in taxable non qualified account and buy in the qualified account this year and next year.
Since having previously transferred some $$ to 2.715% CDs from qualified Union annuity to credit union qualified account, I will be processing that CD money to qualified trading platform as CDs come due to add more liquidity to qualified account.
Added 1/2 back to FB at 29.
https://covidtracking.com/
Real time covid updates.
https://rt.live/
When I lived in Fla I always swam in the early morning during "summer" which was for like 10 months. In the winter later in the day so the sun and heater could warm the water.
VIX at 35.
T, AMTD, NEE downgraded from hold to reduce.
Yes Nick, you're prepared and actually expecting the Spanish Inquisition.
It's residual Court and will take some time to equalize. Hopefully things will turn around with the next election and we'll normalize.
Reduced by half FB at 209.70. $40 Purchase long long ago. $169.70 per share profit.
Still dedicated to the stock and company but took some shares off the table till bloodletting stops.
Added to SHLL at 29.
SHLL was up around 42%. I shared in those profits today and thought twice about being in it. which resulted in me venturing back into the fray with 1/2 my original position at a higher cost.
Tried for IBM at 116, CSCO at 44, and TD at 43 today. Didn't quite get those. But did get TQQQ much to my disadvantage. Still continued to drop afterwards. Oh well.
And Elroy. better get your rubber duckie if you're that far underwater. Flood waters a comin' This world has thrown just about everything else at us so here comes the flood ! Here comes the flood.
Ahhh, I was waiting for that. LOL !!!
Incidentally, with all the politically "correct" goings on these days I've heard about a variety of celebrity artists changing their names. For example the Dixie Chicks will now be called the Chicks.
Also corporations of all sizes and types are getting in on the action.
One company is changing its name from Mister Softee : "Due to complaints from men with erectile dysfunction" That'll surely be a mouthful for some to say.
I posted that article twice today SF. Kindly review earlier in the day. What do you think of the expose' and stock value and prospects. My read from what I've seen is a lot of big big money went in to this stock today on tremendous volume. The company is a going company with more financing on the way and production up and running with an innovative means for battery life extension and an all ready network of some 700 natural gas stations. Lighter battery packs than Nikola and Tesla. and longer range.
https://www.businesswire.com/news/home/20200625005277/en/
I guess that I'm the only one that'll go there...
Old news SF. FB's really for us old farts that tolerate endless commercials and vanity photos. But it's still the thing among billions, so there's that.
Though I don't think I'm far smarter than you, I'll take a whack at the question- I think that equating a Biden win to socialism when tRUMP's administration has doled out 10's of billions if not trillions of dollars to farmers, Billionaires and every Tom Dick and Mary most recently is a bit disingenuous. This administrations handouts have made Lyndon Johnson's "Great Society" look like a lemonade stand.
Point well taken Nick.
To much interest and too many BIG $$$ going in to this company. Big trading blocks on lots of volume and serious institutional investment with very little short interest. When SHLL merges with Hyliion I believe it'll continue on an upward trajectory. So I've gone back in reopening into 1/2 my former position.
Wish me luck.
https://www.businesswire.com/news/home/20200625005277/en/
The other concern is FB. One of my core holdings since its IPO. I don't know if anyone else follows this company, but if you do and have insight I'd be happy to read it here.
"More often now can be heard the election of Biden and the market is starting to go down on that too" - I had understood this to say that Biden's being elected would result in lower markets. I've heard this stated any number of times by others. Not here but in the media.
I had to put profit back in to SHLL at 24. I can't let this go. It seems to have the ingredients of a true long term winner.
During the Clinton and the Obama administrations the stock market went up. Real estate went up. Under bush 1 and 2 the markets went down. I don't see a correlation to Biden= the market going down. It's not political, it's factual.
Out of SHLL round trip. 19.45- 22.46. This is dangerous. All over the place on really big volume.
I don't normally add, based upon this new perspective of the market, but added to TQQQ at 91.50.
Previous cost- 94. Famous last words.
Have buy order in at 43 for TD. SHLL up 48% today. My take 29.41%.
Going to put stop loss in effect shortly, while watching stock action.
SHLL almost up 34%. My take thus far is 22%. We'll see how long that lasts....
Up about 22% today over all. My take thus far is a bit lower.
Only other thing doing well today are my corporate bonds.
Opened SHLL @ 19.45.
https://www.businesswire.com/news/home/20200625005277/en/
Another Hot EV Stock Is Coming to Market. Investors Should Pay Attention. -- Barrons.com
6:29 am ET June 26, 2020 (Dow Jones) Print
By Nicholas Jasinski and Al Root
The universe of buzzy electric-vehicle stocks is about to get a new entrant: Hyliion, a Texas-based battery-powered heavy-duty truck company founded in 2015. It plans to merge with Tortoise Acquisition Corp., a special-purpose acquisition company, by this fall.
Tortoise's stock (ticker: SHLL) has already climbed nearly 70% since the announcement on June 19. Investors just can't get enough of EV stocks these days, and SPACs are having a moment of their own. With Hyliion and Tortoise, investors have another way to play the EV trend.
The deal implies an enterprise value of about $1.1 billion for Hyliion. The company expects to have $344 million in sales in 2022, rising to $2.1 billion in 2024. The company's projections have it earning $8 million in Ebitda, or earnings before interest, taxes, and depreciation, in two years. That grows to $602 million four years from now.
If Hyliion can achieve those forecasts, its valuation today could prove very attractive -- even after Tortoise stock's recent surge. It certainly would be cheap relative to stock in Nikola (NKLA), a highflying maker of heavy-duty electric trucks, but analysts have had a hard time pinning values on all EV stocks lately.
Hyliion, like Nikola, is seeking to disrupt the heavy-duty truck business, but it doesn't want to build vehicles. It wants to sell its powertrain solutions to existing truck makers. In that way, the company is more analogous to Cummins ( CMI) than Tesla (TSLA). A Cummins diesel engine, for instance, is available as an option on Paccar's (PCAR) Peterbilt trucks.
Nikola, on the other hand, plans to make Nikola-branded trucks, as well as build and operate hydrogen filling stations where its fuel-cell powered models can refuel. Nikola became a publicly traded entity through a merger with a SPAC, just as Hyliion is planning to do.
Hyliion has two products, a hybrid drive system for existing diesel- powered trucks, and its Hypertruck ERX, which is an all-electric drive system for heavy-duty trucks. The hybrid system is available for purchase today. Penske Automotive (PAG) and Ryder (R), among others, are customers.
The ERX is slated to begin trials with customers in 2021, with volume production ramping up in 2022. It has a small battery pack that can be charged on board by a natural-gas-fired generator. It is a unique setup that saves truckers weight.
An electric truck designed for long-haul applications without a generator would have to have so many batteries that towing capacity would be compromised. It would simply be too heavy. Logistics companies and their customers would be paying, essentially, to haul batteries across the country. Hyliion believes its ERX will be lighter than existing diesel-powered rigs.
Natural gas is also a cleaner-burning, less carbon-intense fuel than diesel. Hyliion says there are already more than 700 stations in the U.S. that can refuel with natural gas. The same can't be said about hydrogen-filling stations.
"Renewable natural gas is another megatrend," said Thomas Healy, Hyliion's founder and CEO. He's referring to natural gas that is generated from sources such as landfills, not by taking it out of the ground. Burning it is theoretically "carbon negative" because the carbon dioxide that is released is less damaging to the atmosphere than methane just floating away.
"California believes it needs more natural gas powered vehicles, they have too much renewable natural gas," Healy said.
By using renewable natural gas, just 335 ERX-powered trucks could eliminate a million metric tons of CO2 over their lifetimes, the company estimates. That certainly could be motivation enough for environmentally minded logistics companies.
But Hyliion also believes that the total cost of owning and operating a truck with an ERX drivetrain will be lower than for conventional diesel-powered trucks available today -- even with a higher upfront cost. Tesla has made the same argument about the battery-electric truck it is developing.
There are promising early signs of interest. Agility (AGLTY.Kuwait), a global logistics company based in the Middle East, has a preorder for 1,000 ERX powertrains. Agility is also taking an equity stake in Hyliion, as part of a $325 million private investment in public equity, or PIPE, that will come when Hyliion merges with Tortoise.
It's priced at $10 per share, well below Tortoise stock's recent $17, but equal to what IPO investors paid. The proceeds of SPAC IPOs go into a trust until the company completes a merger, when shareholders can ask for their money back or participate in the deal. The value of Tortoise's trust is $235 million or so, assuming no redemptions.
In another good sign, current Hyliion shareholders aren't using this as an opportunity to cash out. The full $560 million from Tortoise and PIPE investors will go straight to Hyliion's balance sheet. After transaction expenses, it will be put to developing the ERX platform and getting it ready for commercialization.
That makes this deal more like a late-stage venture capital investment -- one that simultaneously takes the company public -- than a traditional private-equity-style buyout of a company that uses a SPAC as the vehicle for the transaction. The cash goes toward funding growth, not into existing owners' wallets.
"One of the criteria we established early on was that the SPAC was about deploying growth capital," says Vince Cubbage, CEO of Tortoise, which went public in March 2019. "We weren't going to do a deal where all of our money was going to a seller. We wanted to buy in, not buyout."
Cubbage will join Hyliion's board of directors, while Healy will remain CEO. Tortoise and Hyliion plan to close the transaction around the end of the third quarter of this year. The combined company will continue to trade on the New York Stock Exchange, but change its ticker to "HYLN."
Tortoise stock is up 72% year to date, far better than comparable returns of the S&P 500 and Dow Jones Industrial Average.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com and Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
June 26, 2020 06:29 ET (10:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Yes, like "I did not have sex with that woman" Hardly believable by some. Mostly believed by others.
Could have been worse. You could have opened at 121 and not added at 117 like I did. Missed the chance at 117 by that much.
Okay Nick, thanks.
On a fluke I opened with a nibble SAH. 29.70
That's great Nick, I bought at 21 also, but that was years ago. I also sold it around 28 as well. But that was years ago.
I guess my question is since you have a very good take on the stock whether it's potential is for 64 again or is it going to be a dead reptile ?
Not a great deal to instill confidence in INTC. I opned INTC at 56. Watching gains to 64 dissipate. Not happy. Can't rationalize buying more in mid 50's again. I have my fill of INTC as well.
What concerns me is the continued deterioration of INTC. Now I've been watching it steadily fall apart. Some can be attributed to the eventual phase out of INTC procs by Apple. But that's 2 years out. So why all the drop Nick ?
REALLY ???
Intel Will Be Fine After Losing Mac Business -- Market Talk
1:30 pm ET June 23, 2020 (Dow Jones) Print
13:30 ET - Intel's loss of Apple Mac business will likely be a headwind to the tech company's client-computing group growth in the near to intermediate term, Instinet says, but as the "world leader" in microprocessors for data centers and PCs, Intel has "many avenues" for revenue and earnings growth in the future. Apple is only about 4% of Intel's total revenue, the firm says. "We estimate that Apple currently accounts for close to 10% of the platform products revenues in Intel's Client Computing Group," Instinet, a Intel bull, says. SunTrust, in a statement made before Apple's announcement it would move to in-sourced chips for Mac--which it says was widely speculated--says loss of the business seems baked into Intel shares even as "losing Apple risks 5% of INTC's sales and EPS." Intel ticks 0.2% higher to $60.20. (jonathan.vuocolo@wsj.com; @jonvuocolo)
(END) Dow Jones Newswires
June 23, 2020 13:30 ET (17:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
There is absolutely no reason to continue buying at this point until things settle and the markets begin their recovery.
No thank you. I'm out.
Reopened TQQQ @ 94.
Previous close sat 93. Another IBM ? Guess so.
Disney California isn't going to open just yet...
They've pushed back their opening date. Watch DIS drop. I won't pay any more than 79 for DIS at this point. Let it retest and then maybe. Didn't last time. Will next time if there is a next time.
Oh and SF The craziness of left and right is not "who we are". At least it's not who I am.
Nothing weird about investors sitting on the sidelines. Any sane person would at this point. That speaks volumes about the forum. Doesn't it.
Expect the same from even the most rational opening strategies in the New York tri state area. As we open our cases will go up as well.
Look out below ! More blood on the street.
Added to T this a.m. pre market- 29.50.
Will back the truck up at 26.50.
Yesterday I reduced NKBK at cost. This a.m. NFBK announces merger with VSB Bancorp. Another irony of ironies.