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The stock is oversold but not over-extended. I am waiting for that capitulation candle. Those support levels I post on Friday are still in place with 35.02 being fair game (as long the closing price is above).
All capital gains generated in my TFSA (WealthSimple Trade commission free) account are tax free. Some have amassed over a million from a 15,000 initial investment. The CRA is following them at the moment because technically, their capital gains are legally tax free. It's another loop-hole in which one can gain wealth.
As for my TD trading account, I get taxed 50% of the capital gains in my tax bracket. Thus, I focus more on my TFSA account on CDN stocks (where I trade LAC) and use my regular trading account for US stocks (swing trades). All investments/dividends holdings are in my TD TFSA account.
I apologize for the off-topic but that is how I trade LAC, on the TSX side.
TFSA account; Tax Free Savings Account. In Canada we are allowed 6000.00 a year and since inception, each person is now have approx 75,500.00 in TFSA. It’s outside of our RRSP (similar to 401K) but funds can be taken out (anytime) and put back in (following year) without penalty or taxed.
I use a commission free TFSA trading account and bracket trade LAC and other bunch of volatile stocks. I enter the closing price of each stock on a spreadsheet and it spits out the next day buy and sell prices. I enter my trades before market opens and see which gets hit at 4pm. The best part is when both sides of the bracket orders are filled on the same day. LAC is great with this process. My cash portion increases (with ACB per share adjusted, as I always keep some shares on hand) while the share number stays the same, and capital gained is tax free.
High volatility is great for trading while still keeping a core size for long term. I am using the trading profits to fund my core holding. The 3-6% swings each day are awesome!
Yes. Another reason why Bob Chapek doesn’t want to let go ESPN, as he hinted in the last AGM that ESPN may go into online sport betting soon. It will be a cash cow for DIS.
Insider Buy: Draftkings
2021-11-22 11:39:35 AM ET (MT Newswires)
11:39 AM EST, 11/22/2021 (MT Newswires) -- Steven Joseph Murray, Director, on November 19, 2021, executed a purchase for 10,000 shares in Draftkings (DKNG) for $366,600. Following the Form 4 filing with the SEC, Murray has control over a total of 28,154 shares of the company, with 28,154 shares held directly. The market value of the direct and indirect holding, based on the transaction price, is approximately $1,032,126.
SEC Filing:
https://www.sec.gov/Archives/edgar/data/1772757/000110465921142287/xslF345X03/tm2133646-1_4seq1.xml
Piper Sandler Adjusts Lithium Americas' Price Target to $32 USD From $22 USD, Maintains Neutral Rating
2021-11-22 10:35:49 AM ET (MT Newswires)
10:35 AM EST, 11/22/2021 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
Outdoorsy will still purchase EV trucks from RIVN and F will still continue to supply parts of it. It is still a win for RIVN.
Ford, Rivian dump plans to jointly develop a Ford electric vehicle
2021-11-19 04:10:22 PM ET (Reuters)
Nov 19 (Reuters) - Ford Motor Co and Rivian Automotive Inc have dropped plans to jointly develop an electric vehicle, Ford confirmed on Friday.
"We respect Rivian and have had extensive exploratory discussions with them," a spokesperson told Reuters. "However, both sides have agreed not to pursue any kind of joint vehicle development or platform sharing."
Ford owns about 12% of California-based EV maker Rivian, which went public on Nov. 10 and already is worth 1-1/2 times more than the 118-year-old Michigan automaker.
Ford Chief Executive Jim Farley revealed the break in a story published Friday by Automotive News. The proposed vehicle was not identified.
In October, a Ford spokesperson told Reuters: ""Rivian is a strategic investment and we're still exploring ways for potential collaboration with them."
Ford earlier scrapped a plan to build a new Lincoln from Rivian's EV chassis and hardware.
Ford continues to ramp up its EV dev elopment and manufacturing, targeting global production capacity of 600,000 by late 2023. (Reporting by Paul Lienert in Detroit; editing by Jonathan Oatis)
Rivian's electric van for Amazon raises battery power doubts - The Information
2021-11-19 02:05:25 PM ET (Reuters)
Nov 19 (Reuters) - Rivian Automotive Inc's electric vans for e-commerce retailer Amazon.com Inc may have a more limited range than what was previously disclosed, The Information reported on Friday, citing a driver testing the vehicle.
The driver told https://www.theinformation.com/articles/amazons-testing-of-rivian-vans-reveal-questions-about-battery-power-and-cameras?rc=wk5xyr The Information that the battery drained about 40% faster than normal if the van's heating or cooling was on.
Amazon, which disclosed a 20% stake in Rivian at the end of October, in 2019 ordered https://www.reuters.com/article/us-amazon-environment-rivian-idUSKBN1W42JA 100,000 of its electric delivery vans as part of the e-commerce giant's effort to cut its carbon footprint.
Rivian had disclosed the vans would have a range of between 120 miles and 150 miles depending on their size. But that range is much lower depending on the weather, the report said.
According to th e report, Ross Rachey, Amazon's director of Global Fleets and Products, said air conditioning and heating could drain the battery in the vehicles being tested, and these vans did not have the insulation the final vehicles manufactured by Rivian will have.
The prototype van used had as many as 12 cameras inside and outside the van, but Amazon plans to add another four once the vehicles hit the road, the report said, citing Rachey.
Amazon and Rivian did not immediately respond to Reuters' requests for comment.
Since it went public earlier this month, Rivian has grown to become one of the most valuable automakers, even though it has just started production and delivery of its electric vehicles.
Its shares pared gains following the news and were last up about 4%. (Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath)
I am with you on the volatility. Each day I enter a set of bracket orders. I win either way; sometimes both orders are filled on the same day. Thus, all squares out on my shares holding but extra cash profit in the account.
Rivian All-Electric Amazon Delivery Van Testing In Hilly San Francisco
https://insideevs.com/news/495439/rivian-amazon-electric-van-delivering-san-francisco/
Mar 19, 2021 at 10:21am ET
By: Steven Loveday
As Rivian moves closer to the highly anticipated upcoming launch of its R1T and R1S, it's also working with Amazon to ramp-up testing of its electric delivery van. If all plays out as expected, Rivian will launch the R1T electric pickup truck early this summer, followed by the R1S three-row SUV shortly thereafter. The Amazon electric van is expected to officially launch in the fall of 2021.
We've already seen and shared the Rivian electric van out testing. The first videos came from residential streets in Los Angeles. Interestingly, some of the coverage focused on the van's unique passenger awareness sounds, but just the fact that this vehicle is already out testing in what appears to be the production-intent form is much more compelling than some silly sounds.
At any rate, we've just learned that Rivian and Amazon have expanded testing. Now, the electric delivery vans are out tackling the twisty and hilly neighborhoods of San Francisco. If the vans fare well in such an environment, they should make easy work of more traditional, flat, grid-style neighborhoods like those in our part of the country. However, areas like Michigan will have the added challenge of cold temps and heavy snow for several months of the year.
Rivian has plans to expand Amazon electric van deliveries into 16 cities before the end of 2021. Director of Amazon’s Global Fleet and Products Ross Rachey shared via Teslarati:
“From what we’ve seen, this is one of the fastest modern commercial electrification programs, and we’re incredibly proud of that. As we continue to grow and invest in California, we want to do so responsibly, so we’re excited for customers in the Bay Area to see these vehicles cruising through their neighborhood.”
Insider Buy: Draftkings
2021-11-19 12:12:45 PM ET (MT Newswires)
12:12 PM EST, 11/19/2021 (MT Newswires) -- Woodrow Levin, Director, on November 18, 2021, executed a purchase for 7,000 shares in Draftkings (DKNG) for $257,670. Following the Form 4 filing with the SEC, Levin has control over a total of 64,121 shares of the company, with 19,495 shares held directly and 44,626 controlled indirectly. The market value of the direct and indirect holding, based on the transaction price, is approximately $2,360,294.
SEC Filing:
https://www.sec.gov/Archives/edgar/data/1772757/000110465921141623/xslF345X03/tm2133485-2_4seq1.xml
On the technical side, it will surely test the 35.02 price support level. Using lagging indicators (8, 20, and 50 days) to project further out movement, it doesn't look good, unless unexpected great news comes out. The following next daily support levels are 32.28 and 30.51. In my previous post, the chart is broken, not the company. Be careful.
No buy orders for me until I see a true bottom and then retest that bottom. I do have a few shares on hand which are under water but they are at the expense of the House. I decided to keep them, just in case this unexpected jacks up like a rabbit.
The chart is broken, not the company.
Unless blanka is using Rivian's original IPO price of 78.00 set during the roadshow.
Atlantic Equities Adjusts Roblox PT to $125 From $110, Maintains Overweight Rating
2021-11-18 10:49:03 AM ET (MT Newswires)
10:49 AM EST, 11/18/2021 (MT Newswires) -- Roblox (RBLX) has an average rating of Outperform and price targets ranging from $70 to $150, according to analysts polled by Capital IQ.
Bear flag was clearly showing yesterday and it broke to the downside this morning. Taking the length of the downwards pole portion, price target is estimated to be in the 101.87 area.
Lithium Americas Shares Rise 6% on Millenium Lithium Deal, TD Raises Price Target to $45 CDN
2021-11-18 09:45:59 AM ET (MT Newswires)
09:45 AM EST, 11/18/2021 (MT Newswires) -- Shares of dual-listed Lithium Americas Corp. (LAC.TO, LAC) continued to rise on Thursday, climbing approximately 6% on the Toronto Stock Exchange following the company's agreement to buy Millenium Lithium Corp. (ML.V).
TD Securities analyst Craig Hutchison raised his price target on LAC to $45 from $36, and maintained a Hold rating.
His higher estimates also reflect the Vancouver-based lithium development company's Q3 results.
"Overall, we believe the acquisition of Millennial makes strategic sense for LAC as it takes advantage of its recent share-price strength (up ~160% YTD) to add a quality asset to its pipeline at minimal share dilution and no net erosion to its balance sheet," Hutchison said in a note to clients.
LAC shares rose $2.57, to 6.1%, to $44.14 in early trading on Thursday.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
Boston Bruins Name DraftKings As Official, Exclusive Daily Fantasy Sports Partner
2021-11-18 09:00:02 AM ET (GlobeNewswire)
The Boston Bruins and DraftKings Inc. (Nasdaq: DKNG) announced today a new multi-year deal, which will make DraftKings the exclusive, Official Daily Fantasy Sports Partner of the team and TD Garden, and the exclusive presenting sponsor of the Boston Bruins Foundation 50/50 charitable raffle. The parties have also agreed that DraftKings will be an Official Sports Betting Partner of the Boston Bruins and TD Garden, should sports betting become legal in Massachusetts. The new deal marks another strategic agreement with an NHL team for DraftKings, further advancing DraftKings' relationship with the league as an official daily fantasy partner and an official sports betting partner of the NHL.
"The Boston Bruins are excited to announce this new partnership with DraftKings, a Boston-based company that has established itself as the premier hub for daily fantasy sports," said Boston Bruins President Cam Neely. "We are looking forward to collaborating with DraftKings to continue to provide the best possible sports and entertainment experience for our fans at TD Garden."
In an ongoing effort to create the best possible viewing experience for fans while offering new and exciting ways to engage with the team, DraftKings and the Bruins will execute strategic digital and social media content, with DraftKings takeovers of the Bruins homepage, app integration and digital linkages to the DraftKings suite of products. DraftKings and the Bruins will collaborate on a new content series hosted on Bruins social media channels inspired by daily fantasy engagement and exciting moments in the game. For example, followers will see pre-game polls asking fans to predict shots on goal, saves, highest point scorers, and more. Should Massachusetts legalize sports betting, DraftKings will serve as an Official Sports Betting Partner of the Boston Bruins and TD Garden, and the parties will work together to craft engaging betting experiences for fans. Currently, DraftKings operates mobile sports betting in fifteen states, including two states in New England: Connectic ut and New Hampshire.
"We are thrilled to announce our latest team deal with the Boston Bruins, an exceptional team that like us is relentlessly focused on the fan," said Ezra Kucharz, Chief Business Officer, DraftKings. "I'm looking forward to seeing our partnership and branding greet fans wherever they are - online, through the premier Boston Bruins Foundation 50/50 raffle which galvanizes viewers while advancing fantastic charitable causes, and in-person, including with the iconic, supersized, digital LED billboard facing inbound traffic into Boston's famed TD Garden."
For one of the most fan-engaging Bruins activations, taking place for each game, DraftKings will be the exclusive presenting sponsor of the Boston Bruins Foundation 50/50 Raffle. During 2021, the raffle is completely online, promoted through multiple Bruins social media channels; however, DraftKings branding will be included in all signage used by the 50/50 ambassadors throughout TD Garden, and in two in-game promotional drops on the HDX video scoreboard. It will also be featured in the "Know Before You Go" email blasts posted pre-game across Bruins email and applicable digital and social media assets.
Per the agreement, DraftKings branding and content will be integrated throughout TD Garden. DraftKings has been granted premium, TV visible dasher board locations including on the Bruins offensive end on the side of the net - generating maximum TV exposure. From doors opening until doors close, DraftKings will be granted 15 second full-screen, full-motion commercial sports and L-wrap banners on all 400+ TVs at the venue. As an addition to the prime, in-arena branding, DraftKings will be featured on the famous supersized, digital LED billboard facing inbound traffic into Boston's TD Garden.
DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine and innovate through the DraftKings S.E.R.V.E.S. program, with a focus on Service, Equity, Responsible Gaming, Vitality, Entrepreneurship, and Sports. Responsible gaming is a key pillar of the DraftKings S.E.R.V.E.S. program and DraftKings' collective mission is to protect consumers with groundbreaking technology, employee training, resources for customers, and the support of evidence-based research.
Fans can access the DraftKings suite of products anywhere by visiting DraftKings.com or by downloading the DraftKings app via iOS and Android.
ABOUT DRAFTKINGS
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
I totally agree with you. Management is in the crawling phase and want to run when they can't even walk yet. Leaving 2021 and entering 2022 is like back in the dot.com bust and the commodities sector went into a super-cycle. According to Jim Rogers' book Hot Commodities, this happens every 20 years. This is happening now and hence most resource stocks are jumping. The EV industry is just pushing Li companies into overdrive, despite little to no production at the moment. As you said, Management is leveraging their stock pricing power to acquire and expand their portfolio. It makes logical business sense but not to the shareholder's value. I hope this catch-22 works.
UPDATE 1-Lithium Americas beats CATL to buy Millennial for $400 million
2021-11-17 12:56:01 PM ET (Reuters)
(Adds details from CEO interview, stock movement)
By Ernest Scheyder
Nov 17 (Reuters) - Lithium Americas Corp is buying Argentina-focused Millennial Lithium Corp for $400 million in stock and cash, eclipsing an offer from China's Contemporary Amperex Technology Co Ltd (CATL) as demand for the electric vehicle (EV) battery metal surges worldwide.
The deal, announced on Wednesday, comes a day after a deadline expired for CATL to respond to the Lithium Americas offer for Millennial https://www.reuters.com/legal/transactional/lithium-americas-makes-400-mln-rival-bid-millennial-lithium-2021-11-01/#:~:text=Lithium%20Americas%20makes%20%24400%20million%20rival%20bid%20for%20Millennial%20Lithium,-By%20Reuters%20Staff&text=(Reuters)%20-%20Lithium%20Americas%20Corp,Technology%20Co%20Ltd%20(CATL). CATL is the world's largest EV battery manufacturer, but does not produce any lithium.
Shares of Lithium Americas rose 3.5% on Wednesday, while shares of Millennial fell about 3%.
Both companies have tussled in recent weeks over Millennial, though Lithium Americas said it believes the fact that it is based in Canada worked to its advantage.
"This transaction is a lower regulatory risk than CATL or another Chinese company. Like it or not, there's critical mineral strategies by the U.S., Canadian and Australian governments that could have played a part in this," Jon Evans, the Lithium Americas chief executive, told Reuters.
Evans said he does not expect CATL to challenge the deal.
"This is a great expansion opportunity for us in Argentina," he said, adding the company hopes to start construction within two years. Once operational, the project is expected to produce 24,000 tonnes annually of battery-quality lithium carbonate for 40 years.
Lithium Americas has been building the Cauchari lithium project with Ganfeng Lithium Co - its largest shareholder - near the Millennial lithium deposit, which made the bu yout even more appealing, Evans said.
"I don't think you're going to see opportunities like this going forward, at least not at valuations that we have here," he said.
Lithium Americas is also developing the Thacker Pass lithium mine in Nevada, though that project has faced legal setbacks https://www.reuters.com/legal/litigation/native-americans-lose-bid-halt-digging-nevada-lithium-mine-site-2021-09-03. The company will publish a definitive feasibility study on Thacker Pass in 2022, Evans said.
Actually, Musk is selling his holdings on two counts; sell now vs next year when the taxes change and he will end up paying more on the gains. On the other front, he needs several billions on hand to cover the taxes he will be owing for this year. At the end of the day, Musk will have another round of new stock options next year that will pretty much cover the ones he exercised now. I don't think Musk is scared but smart on getting around on paying additional taxes. After all, this is what the wealthy people do, pay less taxes. They don't just accept.... they act.
When Musk moves to Texas next year, he won't be paying any taxes, as the state income taxes is zero.
Millennial Lithium has rights to develop one of the largest lithium sites in South America; ~14,091 hectares, in which LAC wants to get a hold of.
Lithium Americas Enters into Definitive Agreement to Acquire Millennial Lithium
2021-11-17 11:27:56 AM ET (GlobeNewswire)
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas") and Millennial Lithium Corp. (TSXV: ML) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) ("Millennial") are pleased to announce that they have entered into a definitive arrangement agreement dated November 17, 2021 (the "LAC Arrangement Agreement") pursuant to which Lithium Americas has agreed to acquire all of the outstanding shares of Millennial (each, an "ML Share") by way of a plan of arrangement (the "LAC Transaction") for C$4.70 per ML Share, payable in common shares of Lithium Americas (the "LAC Shares") and C$0.001 in cash per ML Share (collectively, the "Purchase Price"), representing total consideration of approximately US$400 million. Based on Lithium Americas' closing price on November 16, 2021, this consideration would result in Millennial Shareholders owning approximately 9.1% of Lithium Americas.
Prior to entering into the LAC Arrangement Agreement, Millennial terminated the arrangement agreement between Millennial and Contemporary Amperex Technology Co., Ltd. ("CATL") dated September 28, 2021, as amended and assigned to Canada Brunp Contemporary (Investment) Inc. ("CBC") on October 12, 2021 (the "CATL Arrangement Agreement"), in accordance with its terms.
"This transaction is a rare opportunity to add a complementary lithium brine project and leverage our expertise developing Cauchari-Olaroz as the largest new lithium carbonate operation to come online in over 20 years," said Jonathan Evans, President and CEO of Lithium Americas. "We are confident Pastos Grandes can provide significant value for all shareholders as we execute on our growth strategy in the region over the coming years."
Farhad Abasov, President and CEO of Millennial, commented, "Millennial's board and management believe that the LAC Arrangement Agreement provides significant value to Millennial Shareholders. The high premium to the CATL Arrangement Agreement highlights the quality of the Pastos Grandes project and the efforts by the Millennial team over the past four years. Lithium Americas brings significant technical expertise and financial flexibility de-risking the development of Pastos Grandes and generating further upside for Millennial Shareholders."
Benefits to Millennial Shareholders
Benefits to Lithium Americas Shareholders
Recommendation of Millennial Board of Directors
After consultation with its financial and legal advisors, and on the unanimous recommendation of the special committee of directors of Millennial (the "Special Committee"), the LAC Arrangement Agreement has been approved unanimously by the board of directors of Millennial (the "ML Board") and the ML Board recommends that Millennial Shareholders and warrant holders ("Warrant Holders", and together with Millennial Shareholders, "Voting Securityholders") of ML Share purchase warrants ("Warrants") vote in favour of the LAC Transaction. The Special Committee has received an oral fairness opinion from Sprott Capital Partners LP ("Sprott") which states that the consideration to be received by Millennial Shareholders pursuant to the LAC Transaction is fair, from a financial point of view, to Millennial Shareholders.
Transaction Conditions and Timing
The number of LAC Shares to be issued pursuant to the LAC Arrangement Agreement will be determined by the volume-weighted average trading price ("VWAP") of the LAC Shares on the Toronto Stock Exchange (the "TSX") on the twenty trading days immediately preceding the business day immediately before the effective date of the LAC Transaction (the "Closing"), subject to a maximum of 25% of its issued share capital as at closing, notwithstanding the relevant 20-day VWAP calculation under the LAC Arrangement Agreement.
As disclosed in its press release issued on November 1, 2021, on October 30, 2021, Millennial received a non-binding proposal from Lithium Americas to acquire all of the issued and outstanding ML Shares at a price of C$4.70 per ML Share and notified CATL that this proposal constituted a "Superior Proposal" in accordance with the terms of the CATL Arrangement Agreement. CATL did not exercise its right to match and, as a result, Millennial terminated the CATL Arrangement Agreement in accordance with its terms and entered into the LAC Arrangement Agreement. The LAC Transaction represents a premium of approximately 22.1% to the value of the consideration offered pursuant to the CATL Arrangement Agreement.
Pursuant to the LAC Arrangement Agreement, Lithium Americas has also reimbursed Millennial for the termination fee of US$20 million paid to CBC in respect of the termination of the CATL Arrangement Agreement (the "Existing Termination Amount").
The LAC Transaction will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act and will be subject to the approval of: (i) 66 /3% of votes cast by Millennial Shareholders; (ii) 66 /3% of votes cast by Voting Securityholders, voting together as a group; and (iii) a simple majority of the votes cast by Voting Securityholders excluding for this purpose the votes held by any person required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, at a special meeting of Voting Securityholders expected to be held on or about January 6, 2022 (the "LAC Meeting"). In addition to Voting Securityholder approval, the LAC Transaction is also subject to the receipt of certain regulatory and court approvals, including Competition Act approval, the approvals of the TSX and the NYSE, and other closing conditions customary in transactions of this nature.
The LAC Transaction provides for, among other things, customary ML Board support and non-solicitation covenants, with a "fiduciary out" that would allow Millennial to accept a superior proposal, subject to a "right to match" period in favour of Lithium Americas. The LAC Arrangement Agreement also provides for, among other matters, (i) a termination fee of US$20 million, payable by Millennial to Lithium Americas in certain specified circumstances, (ii) the reimbursement of the Existing Termination Amount from Millennial to Lithium Americas in certain specified circumstances, (iii) the reimbursement of Lithium Americas' expenses up to US$500,000 if the LAC Arrangement Agreement is terminated in certain other specified circumstances, and (iv) a reverse termination fee of US$20 million, held in escrow and payable by Lithium Americas to Millennial in certain other specified circumstances.
All directors and senior officers of Millennial have entered into support and voting agreements pursuant to which they have agreed to vote their ML Shares in favour of the LAC Transaction.
Pursuant to the LAC Arrangement Agreement, all outstanding Millennial convertible securities, including the Warrants, stock options ("Options"), restricted share units ("RSUs"), performance share units ("PSUs") and broker options ("Broker Options"), will be acquired by Lithium Americas and cancelled. The holders of Warrants will receive from Millennial a number of ML Shares equal to C$0.30 multiplied by the number of Warrants held by each such holder divided by the Purchase Price. The holders of Options, RSUs, PSUs and Broker Options will receive from Millennial a number of ML Shares equal to the number of such securities held by each such holder multiplied by the amount by which the Purchase Price exceeds the exercise price of such securities (if applicable) divided by the Purchase Price. Pursuant to the LAC Transaction, such newly issued ML Shares will be acquired by Lithium Americas on the same terms as the other outstanding ML Shares.
Subject to certain conditions, including the parties obtaining the requisite regulatory approvals, the LAC Transaction is expected to close in January 2022.
Upon closing of the LAC Transaction, the ML Shares and Warrants are expected to be concurrently delisted from the TSX Venture Exchange. The delisting is conditional upon TSX Venture Exchange approval.
In light of these developments, Millennial has cancelled the special meeting of Voting Securityholders scheduled to be held on November 18, 2021, and expects to convene a new meeting on or about January 6, 2022.
Full details of the LAC Transaction are included in the LAC Arrangement Agreement and will be included in a management information circular of Millennial that is expected to be mailed to Voting Securityholders in December 2021 (the "Circular"). The LAC Arrangement Agreement and Circular will be made available on SEDAR under the issuer profile of Millennial at www.sedar.com.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Advisors and Counsel
Greenhill & Co. Canada Ltd. is acting as financial advisor to Lithium Americas and Cassels Brock & Blackwell LLP is acting as Lithium Americas' legal advisor.
Credit Suisse Securities (Canada) Inc. is acting as financial advisor to Millennial and Dentons Canada LLP is acting as Millennial's legal advisor. Sprott is acting as financial advisor to the Special Committee.
About Lithium Americas
Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. Lithium Americas trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol "LAC".
Nice bounce on the 8 period moving average on the 4 hour chart. The lights are getting dimmer, as this is just a pause of the.... SkyFall (Adele).
Gaming and Content Trailblazer FaZe Clan Teams Up With DraftKings
2021-11-17 09:15:01 AM ET (GlobeNewswire)
Today, DraftKings Inc. (Nasdaq: DKNG) announced a new deal with FaZe Clan, becoming the Official Sports Betting, iGaming, Daily Fantasy, and Free-to-Play Partner of the leading gaming, lifestyle and media platform. Upcoming content activations will feature several of FaZe Clan's biggest and brightest content creators, including FaZe Adapt, FaZe Temperrr, FaZe Nate Hill, FaZe Swagg, Nuke Squad and more.
"FaZe Clan is a juggernaut of internet engagement and culture, built from the ground up into one of the most influential esports and content organizations in the world," said Matt Kalish, Co-founder and President of DraftKings, North America. "The strong crossover between DraftKings customers and FaZe's tens of millions of viewers and followers made this a natural alliance, and we hope to create excitement, competition, and community around sports and video games for adult audiences everywhere we operate."
As part of the deal, DraftKings will appear across FaZe's digital content ecosystem, including custom content, livestream and tournament events, plus new IP and formats highlighted by original series and a new planned podcast. Also, DraftKings will have a presence at upcoming FaZe Clan events with access to FaZe Clan talent, as well as a variety of digital and social media content. The deal will bring unique experiences and offerings for DraftKings customers and FaZe Clan fans alike including custom contests, pools and tournaments, merchandise and more. Additionally, FaZe Clan will work alongside DraftKings to develop educational content that raises awareness for responsible gaming.
The deal will also increase DraftKings' presence in esports, becoming the official sponsor of FaZe Clan's Counter-Strike esports team. To date, DraftKings offers esports daily fantasy contests ranging across Call of Duty, Counter-Strike: Global Offensive, Dota 2, League of Legends, Rocket League and Valorant. As the official sponsor of FaZe Clan's Counter-Strike team, DraftKings will have logo placement on team jerseys and additional placements on team and player official channels as well as content.
"We are committed to delivering content we know our fans are passionate about," says FaZe Clan CEO Lee Trink. "The DraftKings deal is a natural move for FaZe Clan as our members and fans are avid followers of traditional sports, and this gives us the opportunity to further propel our talent and brand into the mainstream. Both brands also share an important vision of being at the forefront of internet culture and we believe this partnership marks an important cultural crossover moment for the future of sports and entertainment."
To kick off the collaboration, DraftKings hosted FaZe Clan members in a suite at SoFi Stadium in Los Angeles for the Los Angeles Rams vs Arizona Cardinals game on October 3. The full hype video can be viewed via the FaZe Clan YouTube page HERE.
DraftKings remains committed to providing a safe and responsible gaming (RG) platform. Through RG tools, self-imposed player limits, identity verification and state-of-the-art geolocation, DraftKings Sportsbook ensures all players are provided secure and positive gaming experience. As an active member of the American Gaming Association (AGA) and the National Council on Problem Gambling (NCPG), additional details on DraftKings' dedication to safe play are available via DraftKings S.E.R.V.E.S.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About FaZe Clan
FaZe Clan is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation. Founded in 2010 by a group of kids on the internet, FaZe Clan was created for and by Gen Z and Millennials, and today operates across multiple verticals with transformative content, tier-one brand partnerships, a collective of notable talent, and fashion and consumer products. Reaching over 350 million followers across social platforms globally, FaZe Clan delivers a wide variety of entertainment spanning video blogs, lifestyle and branded content, gaming highlights and livestreams of highly competitive gaming tournaments. FaZe Clan's roster of more than 85 influential personalities consists of engaging content creators, esports professionals, world-class gamers and a mix of talent who go beyond the world of gaming, including NFL star Kyler "FaZe K1" Murray, Lebron "FaZe Bronny" James Jr., Lil Yachty aka "FaZe Boat" and Of fset aka "FaZe Offset." Its gaming division includes ten competitive esports teams who have won over 30 world championships. FaZe Clan recently announced plans to go public through a merger with B. Riley Principal 150 Merger Corp., a special purpose acquisition company. Learn more at fazeclan.com/public. For more information, visit www.fazeclan.com, investor.fazeclan.com and follow FaZe Clan on Twitter, Instagram, YouTube, TikTok, and Twitch.
Ford may sell there shares when they are able to, which they can use the funds to build more production EV plants. The last 15 minutes of yesterday trading was a bearish sign; both price dropped rapidly and increased amount of volume. It is no surprise a gap down in the pre-market this morning. Some poor soul will be kicking themself for the FOMO buying near 180.00. Price will fall back to reasonable levels.
My post was correct despite the downgrade, the price target was upped. I receive my alerts from TD Direct Investing. Here is the link from Trading View via MT Newswires.
https://in.tradingview.com/news/mtnewswires.com:20211116:A2543439:0-deutsche-bank-moves-lithium-americas-rating-to-hold-from-buy/
WSBs are really pushing the price to new heights. Very impressive!
I totally agree. It is just FOMO right now. Give it time and the price will fall back down to the IPO price.
DraftKings Announces Mobile Sports Betting Deal with Boot Hill Casino & Resort
2021-11-16 08:00:05 AM ET (GlobeNewswire)
Today DraftKings Inc. (Nasdaq: DKNG) announced a collaboration with BHCMC, LLC, a subsidiary of Butler National Corporation (OTCQB: BUKS), manager of Boot Hill Casino & Resort, to enter into a new market access deal, subject to sports betting legislation and regulations being adopted, and the receipt of all applicable licenses and approvals, that could bring the top-rated mobile Sportsbook to sports fans in the state of Kansas.
"As we continue our quest to expand our mobile sportsbook footprint to every state in the U.S., we are eager to begin working with Boot Hill Casino & Resort," said Jeremy Elbaum, Senior Vice President Business Development, DraftKings. "We look forward to the opportunities that lay ahead and remain optimistic that Kansas lawmakers will enact common sense legislation that will benefit the state and its constituents."
Currently, DraftKings has a plethora of both sports wagering options and online casino games that spans 18 states and offers customers with the chance to participate in its newest loyalty rewards program. In addition to its millions of daily fantasy sports contests offered every year, DraftKings Marketplace launched in August and offers sports and entertainment fans mainstream accessibility to collect NFTs from some of the world's greatest athletes and Hollywood's biggest blockbusters.
"As manager for Boot Hill Casino & Resort for the Kansas Lottery, we are pleased to work with DraftKings to bring first in class mobile sportsbook to Kansas," said Clark Stewart, Chief Executive Officer of Boot Hill Casino & Resort. "DraftKings is a leader in this fast growing industry and will bring a trusted, experienced mobile sports betting application to sports fans in Kansas, when the law allows."
DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine, and innovate through the DraftKings S.E.R.V.E.S. program. Responsible gaming is a key pillar of the S.E.R.V.E.S. program and DraftKings' collective mission is to protect the vulnerable with groundbreaking technology, training, resources and the support of evidence-based research. More information about DraftKings is available at www.draftkings.com and fans can download the DraftKings mobile apps via iOS and Android.
ABOUT DRAFTKINGS
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About Boot Hill Casino & Resort
Boot Hill Casino & Resort, managed by BHCMC, LLC, a subsidiary of Butler National Corporation (BUKS), features hundreds of electronic gaming machines, 16 table games, and a casual dining restaurant known as Firesides at Boot Hill.
Phase I of the $90 million project opened in December 2009. Phase II was completed in August 2012 which included an additional 200 electronic gaming machines. Boot Hill Casino & Resort is managed by BHCMC, LLC, a subsidiary of Butler National Service Corporation, a Kansas corporation. The lottery facility games at Boot Hill Casino & Resort are owned and operated by the Kansas Lottery. The Kansas Racing and Gaming Commission provides regulatory oversight for the casino. For more information about Boot Hill Casino & Resort, please visit us at www.boothillcasino.com, or call us at 1.877.906.0777.
Deutsche Bank Downgrades Lithium Americas to Hold From Buy, Adjusts Price Target to $31 From $25
2021-11-16 07:53:46 AM ET (MT Newswires)
07:53 AM EST, 11/16/2021 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
Yup. This one is a jack rabbit. The price just took out my stop loss. Not bad for holding this one for 2 trading days. I have a buy order on the 20 period moving average on the 30 minute chart and build on the way down.
The price is getting way too hot.... "Rivian blazes to new high and has a bigger valuation than Honda, Ferrari and Fisker combined."
https://seekingalpha.com/news/3770810-rivian-blazes-to-new-high-and-has-a-bigger-valuation-than-honda-ferrari-and-fisker-combined?utm_source=advfn.com&utm_medium=referral
Keep an eye on 39.93 support level. If the price closes below with a considerable volume, next support level is at 35.02 (week of Nov 02/20). Be careful.
UBS Cuts DraftKings' Price Target to $44 From $64, Citing Expansion Costs; Neutral Rating Kept
2021-11-15 09:57:12 AM ET (MT Newswires)
09:57 AM EST, 11/15/2021 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
Price is still holding well in the PM, on the CDN side. Let see what happens today.
Lithium Americas Reports Third Quarter 2021 Results
2021-11-15 07:23:15 AM ET (GlobeNewswire)
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") has reported unaudited financial and operating results for the third quarter ended September 30, 2021.
HIGHLIGHTS
Cauchari-Olaroz
Thacker Pass
Corporate:
TECHNICAL INFORMATION
The Technical Information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Chief Technical Officer of Lithium Americas, and a Qualified Person as defined by National Instrument 43-101.
FINANCIAL RESULTS
Selected consolidated financial information is presented as follows:
(in US$ million except per share information) Quarter ended September 30,
2021 2020
$ $
Expenses (16.6 ) (5.7 )
Net loss (17.2 ) (6.5 )
(Loss)/income per share - basic (0.14 ) 0.07
(in US$ million) As at September 30, 2021 As at December 31, 2020
$ $
Cash and cash equivalents 482.1 148.1
Total assets 716.2 326.7
Total long-term liabilities (180.3 ) (127.3 )
During the nine months ended September 30, 2021, total assets and cash increased primarily due to the $377.4 million net proceeds raised from the underwritten public offering of common stock, partially offset by expenditures in the period. Total long-term liabilities increased primarily as a result of drawdowns on the Company's senior credit facility of $50.1 million.
The higher net loss in Q3 2021 compared to Q3 2020 is primarily attributable to higher Thacker Pass expenditures.
Click here to view the Company's third quarter results for 2021.
About Lithium Americas:
Lithium Americas is a development-stage company focused on advancing to production a lithium brine operation in Jujuy, Argentina and a sedimentary lithium clay project in Nevada, United States. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol "LAC".