Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Ryan Cohen had a really bad start to his day with both Chewy and GME down hard following earnings reports, but both have bounced back. Chewy was really down early but now only -3%. Still hard to believe the Board wants Ryan Cohen to trade and invest in other tickers with GME's current $$$$$$, but that is what they rolled out with yesterday's Q.
LOL! That is just an advertising slogan Navy. BDO is not a CPA firm. It is a network alliance of many smaller independently owned CPA firms that operate under their own names. We use one such firm and you never see BDO mentioned anywhere on their letterhead, in the office, etc. Just on the website.
In any event, the withdrawal of BDO was not at all surprising after they botched 2 quarterly reports, which were both delayed and came out late. NioCorp needs more reliability and sophistication than a smaller independent firm or 2 within the BDO Alliance. Deloitte fits the bill and is a huge and necessary upgrade for NB.
GameStop Stock Falls. The Drop Isn’t All Tied to Earnings.
Story by Brian Swint • 1h (Barrons)
Shares of videogame retailer GameStop were falling Thursday—and it wasn’t just mixed third-quarter earnings dragging on the stock. Part of the drop is due to an unusual strategy the company is employing to make more money.
The company’s board announced it would allow CEO Ryan Cohen to manage its portfolio of securities and start trading equities. That means Cohen, who took over as CEO in September and has served on the company’s board since January 2021, will act as an investment manager while running the business. He first got involved with GameStop as an activist investor.
It’s “one of the most inane moves we have ever seen,” said Wedbush analysts Michael Pachter and Nick McKay. “The company’s decision to invest in equities other than its own is alarming, implying that GameStop management believes it will achieve better returns by buying equities aside from its own.”
GameStop didn’t immediately respond to a request for comment. The company announced the move in its third-quarter results but didn’t provide additional details and didn’t hold a conference call.
Wedbush lowered its estimates for earnings per share and revenue in a note after the results on Wednesday and maintained an Underperform rating on shares, with a price target of $6. The price target is based on roughly $4 per share of cash in the company plus a going concern value of $2 per share.
https://www.msn.com/en-us/money/markets/gamestop-stock-falls-the-drop-isn-t-all-tied-to-earnings/ar-AA1l9AdP
And per share earnings are now reported as being "break even" on an adjusted basis. But, GME shares are now getting hammered AH (-3%). There is no catalyst on the horizon to fuel any upward momentum in the shares at this point,
UPDATE 1-GameStop misses revenue estimates on faltering videogame demand
4:17 PM ET, 12/06/2023 - Reuters
Dec 6 (Reuters) - GameStop missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model.
Shares of the company fell 2.3% in afterhours trading.
The results are the first since top investor Ryan Cohen joined as CEO and chairman in late September, tightening the billionaire's grip on the ailing company.
Sticky inflation and high borrowing costs have led to uneven spending in the gaming industry, with major players including Take-Two Interactive Software giving an underwhelming forecast.
GameStop reported revenue of $1.08 billion for the third quarter, compared with estimates of $1.18 billion, according to five analysts polled by LSEG.
Third-quarter net loss stood at $3.1 million, compared with market expectations for a loss of $25.6 million. (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shinjini Ganguli)
I see it is now up after hours. I said "less than stellar", but the loss was significantly below the prior year's comparable quarter loss. Revenue being down is a bit of a concern.
Ouch! Another less than stellar earnings report from GME Drop in revenue, but a lower loss than prior comparable quarter.
And Gman pointed out the previous important work with the University of Nebraska's Conservation and Surveys Div..
What kind of research are you referring to th? The core samples and drilling were completed, and everyone has an accurate understanding of the resource, although it is likely much larger and goes out further than tested to date.
LOL! With AMC having lost 99% of its value over the past 2 1/2 years, the only margin calls going out are those hitting the accounts of longs who acquired a ton of AMC shares on margin in margin accounts, and played the stupid HODL game for way too long.
You tell me and we will both know. the advisor on the accounts where I hold large positions in ET indicates it is due to some rules change a number of years ago. but my ET holdings have never required the issuance or filing of that form. I do not believe it applies to "dividends" but rather other items inthe K-1 and most often only upon a profitable sale, etc. And, remember that ET does not technically issue dividends, but rather capital distributions.
Since being passed over for the CEO position with this company that you so desperately coveted, you have not ever found anything with regard to NioCorp to be positive. SMFH
Putz, As I previously conveyed, Jim Sims emphasized that there are 2 more additional stages prior to Board of Directors approval beyond our successful completion of the first stage to reach "Pending" status, and that we had to involve some financial and other outside professionals to successfully navigate those 2 stages. As for the Environmental and Social Impact report, I suspect we already have most everything we need for that, as NB was already issued all of the requisite environmental, e.g. air, water, etc. permits and certification approvals in those areas. I also remember that Mark explained at the Town Halls in Nebraska a year ago that one of the delays after COVID subsided was that, by then., all lenders were requiring every applicant to have an "Auditable ESG Program" and that we spent 6 months or more putting that program together. So, that should also suffice for at least a major portion of that report.
That having been said I do not know what has been provided thus far in connection with the 2 additional stages of the EXIM approval process.
Also worth re-stating from the 11/8/2023 post that when this came up that Jim sims also emphasized that, to his knowledge, there has not previously been any applicant moving to this stage ("Pending" status) and not receiving final approval from the Board. But he noted that might not include any applicants that withdrew from the process due to finding other funding, etc.
LOL! Quadrillion? The bottom line is that JP Morgan Chase has a Fortress Balance Sheet that is second to none in terms of strength and solvency, and the notion that it or anyone connected to JP Morgan gives a rat's ass about AMC or any other meme stock, or that AMC can have any negative impact whatsoever on J P Morgan Chase, is total nonsense.
GME Expected Earnings
Ouch! -11.5%! This latest pump really failed and flamed out in a hurry. And, with GME's earnings due out tomorrow after the close and projected to be another loss similar to Q3 (-.09) GME's share price will likely fall even further back to the recent 1-year, 2-year and 34-month lows.
Thanks for the great and positive information Chico. I agree with Walter and am more optimistic than ever, with Stellantis, the new outside CPA firm and EXIM all on deck over the coming weeks and months.
nwtf: I hold substantial positions in ET in 2 different tax-deferred retirement accounts, and I frequently get that form letter which states that my account and K-1 (Form 1065) may be examined for a possible need to issue me a 990-T, and I have heard of some very rare situations when a 990-T was issued within a tax-deferred IRA, but I always receive the follow-up letter saying that there was nothing in my situation which warranted issuance of the 990-T.
I have held a substantial position here for years in a tax-deferred retirement account and have always reinvested all dividends. Not happy with the current share price, but the value of the position is still way above the original $$$$$ outlay of the investment. And, currently WBA's dividend is 9.2% at the current share price.
Hope you pulled the trigger on some of those .59's or even below that level. Closed at $1.50 +60% today, after being +32.5% on Friday.
+69% today and much more room to run. 1-year high here is $2.83 and 3-year high for MIGI is $15.99. Still very undervalued.
Agree Skiluc. Very positive update and things are most certainly moving along, although not as quickly as many of us had hoped. But I expect more news out in the coming weeks and months, including naming of the new outside CPA/Auditing firm very soon, finalization of the Stellantis Offtake per the earlier LOI into a formal contract, coupled with a significant equity investment from Stellantis, and finalization of the currently "pending" EXIM loan transaction.
Great stuff Richard! Figured out you have to click on "read more" to get the whole thing to come up. Thanks for sharing.
+32.5% today. Very volatile. Look at the chart over the past few years. But sometime hard to time the swings. Anyone selling MIGI early for the tax loss looks to be in tough shape with it surging up so strong. Has to be due to replacing the co-location slots which Cesius vacated, and the forward revenue projections, which also factor in the higher price of Crypto.
LMFAO! Hedgies run this board? LMFAO again. No one connected to any hedge fund would have even the slightest interest in this POS ticker or what goes on here on this Board. SMFH
Great post GG. Spot on true and accurate regarding the resident "Disgrace" here.
Any news this am that DIS is reinstating a dividend payable in January.
Agreed. AO raised the issue of "short & distort" and I merely commented and expanded on the issue being a current enforcement effort at the SEC which has been getting a lot of attention.
Excellent point AO. The SEC is really starting to crack down on criminal short and distort activity, which amounts to a felony and securities fraud. Unlawful short and distort occurs whenever an investor/trader or investors/traders first sell a stock ticker short, and then set out upon a course of conduct to engage in a public or social media, e.g. reddit, IHUB, etc. Campaign to spread false information and claims about the company and ticker in an attempt to manipulate or run the share price of the shorted ticker down in order to unlawfully profit from the short sale. This is a real key focus for the SEC right now and they are encouraging everyone to report any possible unlawful short and distort campaigns to:
https://www.sec.gov/tcr
Bingo! Total nonsense being suggested there. Charlie Munger was universally admired across the entire financial industry and investment communities. Not surprising that a Bitcoin pumper would not like Charlie Munger given his wise and candid comments regarding Bitcoin and the crypto phenomena.
Hmmmmm.....What kind of announcement could possibly be coming on Bed Bath and Beyond at this point? Or do you believe the company previously known as Overstock, which acquired all of Bed Bath & Beyond's Intellectual property, including its name and all related trade names and trademark's out of the BBBYQ liquidation bankruptcy and is now operating under the name Beyond selling products under the Bed Bath and Beyond name it now owns will be making an announcement? What used to be Bed Bath and Beyond (BBBYQ) no longer exists as everything was liquidated and dissolved and all common shares were cancelled and extinguished months ago.
LMFAO! Like anyone at JP Morgan is going to care about old outdated false statements put out by the likes of Frank Nez anyway. The bottom line is, since those old suggestions, currently JP Morgan is predicting much higher prices for gold going forward, so yes, it is very doubtful that JP Morgan would be currently shorting gold in any significant way.
https://finance.yahoo.com/news/jpmorgan-predicts-record-highs-gold-200030742.html
https://www.kitco.com/news/2023-07-26/JPMorgan-Chase-sees-gold-prices-at-record-highs-in-12-to-18-months.html#:~:text=According%20to%20JPMorgan%27s%20mid-year%20forecast%2C%20analysts%20are%20looking,the%20U.S.%20economy%20does%20fall%20into%20a%20recession.
Sheeeeeesh! Who said anything about being "excited"? I merely responded factually to the posted question about "Sen. Fischer's $10 Million". The share price today is not what is important. What I care about is what the share price will be when the project is fully funded, and the mine is fully built and up and running in full production.
Thanks for the detail Gman. I posted a brief factual response and a number of folks apparently do not like the fact that there is a factual basis for the $10 Million, etc. SMH
From what was detailed at the time of the release and Senate/Committee action at the time.
It is my understanding it will be included in an appropriation through the DOD in 2024, and I understand it may include more than the specifically earmarked $10 Million.
Looks like they may have turned the corner with the new c-location agreement to replace the numerous machines Celsius pulled.
LMAO! Frank Nez has no credibility. Old out-of-date article anyway. Since late summer JP Morgan has been predicting record highs for Gold and that it will go up substantially, so very doubtful that JP Morgan has any significant short bets on gold at the current time.
Pretty interesting stuff. They all need to get this dispute resolved. Irt cries out for a negotiated resolution.
Just "ignore" her/him Omaha. Use the iggy button. She/He thrives on the engagement. Ignoring him/her leaves him/her essentially just talking to walls or himself/herself. We know there is nothing about this company and investment which warrants use of the term "turd" but if that gives him/her some jollies then so be it.