28 Burst results for "Five Million Shares"
Bloomberg Radio New York
"five million shares" Discussed on Bloomberg Radio New York
"Softbank groups arm holdings is planning to raise as much as four point eight seven that billion in an initial public offering and we hear it's aiming for a valuation of close to fifty five billion that would be the biggest stock debut of the year although not as big as initially expected we've got more from bloomberg's ed ludlow according to the form f1 arm will offer ninety five point five million dollars shares nine hundred fifty five point five million shares in the form of american depository receipts or to fifty one dollars each ed that would see them raise four point eight seven billion dollars even at the bottom end of that that range if they price at forty seven dollars a share it would still make this the biggest IPO globally of the year surpassing johnson johnson's consumer health spin -off of kenview you remember that came in raising four point three seven billion dollars noticed bloomberg's ed ludlow arm could still raise more or less money depending on investor demand on its roadshow this week we go to china next where the government is said to be looking to raise funds to bankroll investments in chip making and research and development this this is the china integrated circuit industry investment fund it's now establishing a third fund and the largest pool for investments we're told it's around forty one point one billion dollars now reuters reported the process may take some time it's unclear who the potential investors are or when may it launch but the country's finance ministry may contribute another eight point two billion to the fund despite local media enthusiasm it remains unclear how chinese players can circumvent strict u s curbs on technology shares in chip related firms were mostly down on tuesday in the wake of some weak economic news paul the federal trade commission may sue amazon later this month following its four -year antitrust investigation into the company merchants have complained that on unfairly ties access to its marketplace with its logistics service the latest news comes as the biden administration has been stepping up pressure to focus on antitrust and competition is a of its economic policy were told that the complaints will be the fourth one filed this year by the fdc it's a major victory for the l g p t q community at baxter with more from the bloomberg newsroom ready yeah that's yeah right uh... hong kong stop court order the government to establish laws recognizing same representing sex partnerships one of the biggest victory jet for l g p t q activists now the judges wrote there is a need for same sex couples to have legal recognition on the relationships in order to be basic social requirements and to provide them with a sense of legitimacy but at the same time the the court dismissed part of an appeal to recognize same -sex marriages including overseas unions u s s incredibly concerned about the deepening of relations between north korea and russia state department spokesman is vita patel we have been incredibly clear about the potential consequences uh... of any country and taking action that support russia and kim jong and travels to to russia early as
Simply Bitcoin
"five million shares" Discussed on Simply Bitcoin
"It's insane. It's truly insane. I I don't know what I'm gonna want tomorrow I don't know what I'm gonna want this afternoon for lunch I have no idea So for me to say that I could know what everybody in my neighborhood let alone city let alone country let alone half the world Is gonna want is I mean, it's just it's mind-boggling it just it beggars belief that anybody could get up there like no, I I do know what people are gonna want and I absolutely know what the Policy needs to be I me and my pals up here all of us in our 50s I don't even understand what anything going on there on the internet. I don't even know what a meme is I've never made one in my life, but I certainly know what's going on on the internet I can tell what all the kids are gonna want I can tell what all their parents are gonna want I absolutely have an idea of what all these people are gonna need to do and in the coming months and years and days Of their lives. Give me a break. It's insane. It's absolutely insane and Bitcoin is just this base layer goes Hey, I don't give a crap what any of you do. I could not give any flying F's about what any of you do I'm just gonna be the best money that's ever existed for you to transact with How about that and that's that's the in totality of the story that that's it that that is literally it. I'm just the best money Have fun staying poor if you want to use this other thing that people are constantly Messing with and screwing around with on a daily basis. Give me a break Couldn't agree more and and I think that's lost on a lot of people that they the hubris that comes out from the unproductive ruling class the banking class out there the Keynesians that think that they can Control a complex system such as the economy when I think I forgot to pull this up You can see very clearly we know what's gonna happen with the Bitcoin Subsidy we know what's gonna happen with the distribution of Bitcoin 21 million hard cap until 2140 yes, there will be bitcoins released but we know the having is coming up in April and the amount of Bitcoin that's gonna hit the market is gonna get cut in half and For those people out there Might want to get some just in case it catches on anyways before I move on guys Shouts out to the boys over at the Bitcoin conference. Yes, we are fresh off bit block boom, but if you are in Europe Get to Bitcoin Amsterdam, you can get a discount code on your ticket using simply it's gonna be October 12th through the 13th in Amsterdam 2023 and then of course You can also get yourself a ticket to Bitcoin 2024 July 25th through the 27th next year in Nashville We will be in Nashville. We haven't made it to Amsterdam yet as the simply Bitcoin crew but we will be seeing you guys in Nashville and of course you can scan the QR code at the bottom of the show and Get there directly. Anyways guys, let's get into the news because I'm gonna give you guys what you came here for. Here we go The daily news and Before I go on guys, I want to give a shout out to our boy Brian DeMint book Bitcoin evangelism Yes, we know you have trouble orange peeling your friends and family You're skeptical no coin or friends and you're kind of on the fence family, you know, your mom dad They're like, okay you like this Bitcoin thing. Well get yourself the Bitcoin evangelism book and we got you covered You know, you got your boomer neighbor We got we got what you need to tell them We have your your crazy aunt that is more terrified about CBDCs than you are and she may think Bitcoin is you know, the Money of one world currency. We got you covered. You got the the shit corners out there that are skeptical of Bitcoin They're going to the casino. We got you covered guys get on Amazon scan the QR code oh, I don't think I put up the QR code scan the QR code and Get yourself the best way to orange pill actually before I move on there was a good there was a good quote from Jimmy song and If you guys saw his presentation at bit block boom, he said, you know I think it's kind of ridiculous for us to think that we're going to Have someone that is kind of low-key and interested in Bitcoin be like hey Hey guys, go read this 300 page book about Bitcoin and then come back to me and then you'll be a Bitcoin and I really it really hit me when he's like no like these books are for you so that you can get better at orange pillings So that you can have the tools you need To be able to explain this to people when the hearts and minds of the masses out there Because it's about preparing you giving you guys the tools so that you can go out there and spread Bitcoin get people involved Anyways, let's get into this news guys. So first and foremost There was some speculation on Twitter over The weekend I think was Thursday or Friday About a new mysterious wallet becoming the third largest holder of Bitcoin in just over three months accruing 118,000 Bitcoin worth 3.8 billion dollars, so I have it over here It looks like there's an address here that has just been constantly stacking going to the same address Not the best UTXO hygiene, but hey Maybe they're new to the space Maybe they don't know exactly what they want But they are stacking and they are buying in huge chunks Which kind of leans into the narrative that we've been saying for a long time, you know High-net-worth individuals are in the market. The institutions are here now I don't want to speculate on whether this is Black rock or not because a lot of people were saying they was black rock but black rock would have to Disclose their holdings and we're over here at Bitcoin treasuries dotnet and we see and we remember that black rock at least officially And again, this is an institution. This is a corporation. They would have to disclose this though Maybe it will be in a different quarter when it does get disclosed that they have been stacking more Bitcoin allegedly only holding 6.15 Bitcoin and if you know, you know there there's got to be some kind of Bitcoiner over there That is holding their Bitcoin or maybe Larry Fink's trolling and he's a shitposter on Twitter I don't know I'm just speculating kind of having fun But the big news is that black rock has now become the second largest Shareholder in four of the largest publicly traded Bitcoin mining companies in the world So they have bought more stock in riot blockchain marathon digital holding cipher mining terror wolf And so let's get into this article here. This came out this morning Black rock is a major shareholder in four of the five largest Bitcoin miners So the investment giant is already the second largest shareholder in four of the five biggest Bitcoin mining by market capitalization According to the company's market cap index the five largest Bitcoin mining miners sum up to five point four billion dollars in market cap and Have registered massive losses in the last 30 days So riot platform one point nine two billion dollar market cap marathon digital holdings one point eight three billion market cap cipher mining point seven four billion market cap Hut eight mining at half a billion market cap and terror wolf at point four one billion dollar market cap So black rock is buying the dip, but they're not necessarily buying the Bitcoin price the spot Bitcoin Dip they are buying the Bitcoin mining companies stock dip So I think the tell here is yes, we are still kind of in Purgatory again, we're still all speculating whether and when the Bitcoin ETF will get released the black rock Bitcoin spot ETF will get released. Will it be in a year? Will it be in six months? we don't really know but I think it is becoming very clear that it's not an if it's a matter of when if black rock is continuing to gain exposure in Bitcoin mining they are you know have their canary in the coal mine by Saying and signaling that they want to spot Bitcoin ETF. It is becoming very off that black rock is Infatuated with Bitcoin Larry Fink wants to stack Bitcoin. So do not be selling Larry Fink your Bitcoin right now And of course, he's buying mining companies as of now and we're gonna get into some of these numbers But of course the sign is they are gaining the Bitcoin exposure. The institutions are here guys This is the time where you should be stacking as much as humanly possible taking your Bitcoin into self-custody That is the most important thing to be doing is do not leave your Bitcoin on the exchanges Anyways data retrieved by fin bold from CNN shows that black rock fund advisors increase their position in these Bitcoin miners on June 30th Consolidating the second place as the largest shareholders position as follows. So in riot, they bought ten million seven hundred forty nine thousand 369 shares or roughly six point one four percent for a total value of a hundred ninety nine point Oh eight million in marathon. They bought ten million shares almost 11 million shares or six point four four percent of the stock for a total value of 190 million dollars and What's it cipher? I'm cipher mining ink they bought two million two point two million shares So or a little under one percent for a total value of eight point three six million dollars and in terror wolf They bought a little under five million shares or two point two eight percent of the total shares for a total value of fourteen point one oh million dollars so they've notably built a position summing to a total value of around four hundred and eleven point five million dollars and I think this is the kicker guys equals to a small share of point three five percent of the hundred and seventeen point six billion dollars in assets that black rocks hold as reported in 2022 this current position also makes the black rock fund advisors a major member of the Bitcoin mining council a lot Lobbying group for the Bitcoin mining industry in the US now, that's just the numbers here guys. So they are obviously Getting more Bitcoin exposure whether that is in Bitcoin stocks and and to be fair This is the importance of the spot Bitcoin ETFs that all will be released at a certain point coming up Is that these institutions they can't necessarily buy spot Bitcoin yet? And that's why the ETFs will even though it is paper Bitcoin. I know hold your tomatoes This is how these institutions will be getting exposure but as of now they can buy Bitcoin mining stocks and Further We know oh wait over here. We know that black rock is a major Shareholder of micro strategies as well. They hold. What is it about seven point two six percent or three hundred and four Million shares. Oh wait three hundred and four. That's million dollars in Micro strategy stock or eight hundred and seventy nine thousand six hundred and seventeen shares So they obviously have already been in the Bitcoin space You can tell that they want as much Bitcoin exposure and again not to get tinfoil a hat but black rock Playbook is happening again in the Bitcoin space They just want to get their tentacles in every aspect of the Bitcoin space because whether Bitcoin you know Whether they believe in Bitcoin or not, they are fiat maxis and they see what we see number will go up So they want a little bit of all the infrastructure and again, I was reminded I am the skeptical Bitcoiner here I'm a tinfoil hat enthusiast. I should make one for you guys So you guys can clown me but it really reminded me when the spot Bitcoin ETF news dropped this little clause in The filing and everyone was going crazy on it in YouTube on Twitter and and you know I don't want to speculate too much But I think it would be missed if I didn't bring this point up because hey, you know, there's no coincidences But Hey Things are happening and I'm just trying to connect the dots. I'm seeing things obviously Maybe I'm a paranoid Bitcoin or maybe they are incentivized to just get Bitcoin exposure because number will go up but hey this is a Bitcoin channel and We do speculate sometimes on what people's incentives are what what what they're trying to do. Anyways, remember this in The spot Bitcoin ETF filing by Blackrock in the event of a hard fork of the Bitcoin network The sponsor will if permitted by the terms of the trust agreement use its discretion to determine which network should be considered the appropriate Network for the trust purposes and in doing so may adversely affect the value of the shares There's no guarantee that the sponsor will choose the digital asset That is ultimately the most valuable fork and the sponsors decision may adversely affect the value of the shares as a result Anyways, I bring that up to just basically hint on the idea that remember What the companies are that Blackrock is a shareholder in and one of them is marathon and not to pick on marathon But we remember that they mined the first OFAC compliant block last year So hey, you know not to get too tinfoil a hat here But I'm just seeing things and I'm just being cautious But it is clear as day that Blackrock likes Bitcoin They are gaining as much exposure to Bitcoin and you know, whether it's paper Bitcoin or not We'll see how this plays out but I think it's just very interesting and it's kind of leaning on the idea that Dell was saying about earlier about his dad like you know kind of putting their minds around how the having works and The the fact that we have the biggest institutions the biggest asset managers in the world all embracing Bitcoin I think it's all piling on to become a very amazing Amazing bull run for all of you guys that are stacking Of course, there is a contention and the concern about paper bitcoins and ETFs and all that stuff Of course, we're Bitcoiners.
Bloomberg Radio New York
"five million shares" Discussed on Bloomberg Radio New York
"Would have made a ton on the low of this year the stock was down to five bucks sorry if you're a short man because you're getting killed are getting killed here and maybe short covering has a lot to do with I totally agree with you on there's some writing on that on the bloomberg um all right so let's get to it because we've got a great round table analyst andreas crone on zoom in new jersey and bloomberg news reporter simone foxman here in the studio bloomberg interactive broker studio andreas i want to start with you because i feel like this is a debt story at this point how does this debt restructuring i know it's going to cut interest expense by 430 million dollars a year for the next two years how is this a game changer fundamentally and financially for carvana or is it not yeah i think it remains to be seen i think the debt restructuring the share sale share sale lays at some liquidity concerns for the short and medium term but we continue to remain pretty cautious on the name you know the questions two questions really remain is what is the sustainable profit model for carvana they for years employed a model where they grew volume very quickly at the expense of profit the market then turned against them average transaction prices surged to the point where consumers were pushed to the sideline they're now doing doing the exact opposite they are cutting uh... and actually becoming uh... did it's it's actually helping the gross profit line in along the way and then the second question is what are the long -term prospects for online auto sales at the end of twenty twenty two they were still at one point five percent of total use vehicle transactions so not a meaningful portion of of the market the question is to what degree uh... do consumers want to purchase vehicles entirely online uh... our view is that most consumers want at least part of those transactions to be in person yeah i want to check i kick want to the tires and look under the hood before i buy a car uh... but uh... i wonder about the debt picture here first before we get to you know the the business of used car sales simone what what is this agreement that we had yesterday leave carvana with and what they get out of well eighty three percent of karvana's twenty twenty five in twenty twenty seven unsecured no charities now swapped get for secured debt that only starts maturing and twenty twenty eight so it puts off that debt picture uh... for a while substantially decreases the net interest the interest expense that's going to be paying uh... four hundred thirty million dollars a year for the next two years so this is substantial money uh... that karvana is not going to have to part with at least immediately as they push themselves to get back on this to cut costs to cut costs whether it's you know the vending machines that they're known for or people or inventory inventory i think is down uh... over fifty percent year -on we -year heard in the earnings call today so this is great for the debt holders it's higher up on the repayment ladder isn't it? exactly secured verses unsecured. We'll give you more time, but hey, right? Right. And they're cutting one point two billion dollars of debt off their books. Yeah. So I think what's also interesting is that we're seeing the shares rally despite the fact that you know they're going to go out and issue thirty five million shares. That's not normally, I mean, you know, you're pulling off the alley. They're like off in space. They're up thirty seven percent. But I mean, you back out that chart. Back out to five years on the terminal. Andreas, how much of this is short covering? Because it was a heavily shorted stock. I mean, like 50 percent of the outstanding shares were short. Yeah. Our assumption is that this is a fair amount of short covering that's going on right now. The stock's obviously beaten down quite a bit. The story hasn't worked out to the degree that Karvana had hoped. It hasn't really fundamentally changed in our view. So there is, I believe, a fair amount of short covering at this point. I mean, cash flow is going to be, what am I looking at here? I mean, we're talking about what? Negative? Sorry, I've got to pull my terminal down. Like 526, almost $527 million negative free cash flow for 2024. I mean, when you think about sustainable businesses, it doesn't look like one. Well, it's interesting as well. heard We from CarMax a couple weeks ago about their online presence as well. And they're actually, it turns out, taking some market share from Carvana, it would appear. So this question that Andreas brings up, do you want to see your car in person before you buy it? Well, maybe the answer is you go to someone who is a little bit not just an online seller and maybe people feel more comfortable with that. That said, there's wholesale that happens online, there's other parts of this business that happen online that have the potential to generate returns. But at this moment, we're seeing, I believe this is the way that Carmex as CEO put it, and it's just stuck in my mind and obviously still depressed market for used cars. That's a very good point. I mean, every single online only retailer Carvana room shift has pulled back in terms of volume. Carmex is the only used car retailer and they're the largest by a long shot in the U .S. has added to volume as a percentage of their overall portfolio. So clearly the online piece is contracting because consumers aren't all that in love with it as was once thought. Andreas, what about used car prices? I mean, they have really rolled over since the peak at the end of 21 beginning of 22, but they're still sincerely elevated. look I at the Mannheim used vehicle value index. So pre emic, we were trading in the one fifties, one forties,
Colorado's Morning News with April Zesbaugh and Marty Lenz
Apple's Tim Cook Gets $750mn Bonus Payout
"Its CEO, How does having a really good week? Tim Cook got more than five million shares of Apple stock and sold most of them for more than $750 million. This is part of the compensation that cooked out when he took over as CEO 10 years ago. The
MAD MONEY W/ JIM CRAMER
"five million shares" Discussed on MAD MONEY W/ JIM CRAMER
"What is the multiplier effect. Because you bill plants when nobody else is willing to go. You know jim as we think about it for every job. Nucor creates five indirect jobs that are created so in our brandenburg facility. There's going to be about four to five hundred permanent nucor team members when we think about the multiplier on that we're talking about thousands of team members that are going to get the opportunity to be a part in benefactor for long term. And if you think about new cores average annual salary for our team members to approaching one hundred thousand dollars a year so we're paying really well again and it's poised times like these for new quarter continued to lead the pack. The only thing that i was concerned about this. Otherwise unbelievable quarters. When i steve plant operating one hundred eighteen percent of rated capacity. I wonder if it can keep that up. Because that's extraordinary sir. It is if you look across the portfolio. We have some of our plants running out capacity but many have the opportunity to continue to increase in utilization rates but one of the greatest strengths of nucor is we can rationalize internally and we can shift products from one milton next to continue to meet the demanding including a meaningful infrastructure. Bill so we're gonna have to continue to increase our output to meet the demands and new cores ready now if despite the fact that the stock has been very strong. And you guys are doing so much right. I was surprised you bought six point. Seven five million shares back at ninety one dollars. You have great analysis where your stock is been in other big cycles that to you. Sir seems like abortion. Absolutely you know jim. At the end of the day we have an amazing financial team our. Cfo jim free doesn't amazing job in. We have an intrinsic value model that we look and we think really long about. How do we best return that. Forty percent bacteria shareholders either through share repurchases or dividends. And so we're going to continue to look at that and understanding where that value is but as we think about growth and we think about the opportunity nucor is going to continue to meet that Meet that reinvestment back to our shareholders. Leeann i really wanna thank you for coming on today putting everything in perspective. This is incredibly important. Bill nucor probably being single lynch pin. What can make can happen here with infrastructure. So thank.
The BBQ Central Show
"five million shares" Discussed on The BBQ Central Show
"Guy. All kids love boxed mac and cheese while it being truth be told if it's made right. I'd like boxed mac and cheese as well that being said it is the fourth tuesday of the month on the second hour and the first segment is joined by the correspondent. There they are dug shining is right below me and directly to my side at the top. Is john solberg from michigan and catty corner for me is rusty monson from the great city of utah guys. We've got a number of different things to talk about this evening before we get to the american idol barbecue central show edition finals where it will be john solberg from michigan and myself. The rock and roll hall of fame city of cleveland ohio. Battling it out for the twenty twenty one title and pointing to season three. Which i'm sure all of you are very excited to know that we already have the season. Three going jeff. Rice is also going to be taking part and season three as well so no worries about that but we have a couple of the topics to get to before we get into the singing. First one is this. Let's pick up where we left off with. Derek riches last segment for at the end of the first hour and that is This business going on. Fire industry Doug you are a man who buys and sells businesses on the regular. You are a contract with traeger grill. So i wanna give you first crack at this. Because i don't know what you're allowed to say or what you're not allowed to say depending on your personal preference or professionally. Whatever but as a traeger goes out for. Ipo i thought it was going to be three to six months or whatever it is with filings this and that but derek reveals that Just being released today the trigger is going to be dropping thursday twenty three point five million shares a your thoughts on them going public and will you be buying shares and should we be buying shares. Yeah i i can't comment on traeger dude. My confidentiality agreement but as a business broker going ipo versus selling this to another owner. It's it's different than the private equity groups and things are always looking for a unicorn..
Bloomberg Radio New York
"five million shares" Discussed on Bloomberg Radio New York
"And now traded just below $30,000 were coined perhaps an entry point for Mr Tom Kean. Let's get some color on those equity markets of Bloomberg Stack. Senator Dave Wilson David looking at who to pick up right where you left off Paul and talk about those crypto currency related stocks in light of Bitcoins dropped below $30,000. I mean, you have China meeting with thanks reiterating a ban on the digital currencies. So you know, put it all together. Coin based global. Down 3% in early trading MicroStrategy, an investor in Bitcoin, Down 8.5% and riot Blockchain lower by 5.5%. Then there's Gamestop Up. 7%, the video game retailer completed to sell five million shares that raised more than $1.1 billion. Indeed, proceeds will be used to pay for investment since the bolster its finances. Look at some of the other means stocks. You've got AMC Entertainment, the movie theater owner down 1.5% and Context Logic, the owner of shopping site wish dot com off just about a half of percent spunk. Up 9.5% he made occur of data analysis software agreed to sell a billion dollars of convertible notes to private equity firm Silver Lake and spunk said it will buy back as much as a billion dollars of stock. Sanderson Farms up 11% sticking with the deal theme. The chicken producer is exploring a sale and has hired Centerview Partners as an advisor. That's according to Dow Jones, citing unnamed people familiar with the matter. The report identified Continental Group as a potential buyer looking at alphabet, not seeing much direction in Google's owner, Little changed. After Google became the target of an antitrust investigation by the European Union Plug Power, also little changed in early trading after reporting fiscal first quarter results. Revenue with the maker of fuel cell systems beat analysts highest estimate in a Bloomberg survey. Then you have Nikola down 2%, the electric tuck developer registered 18 million shares owned by Tombstone Capital. The Action clears the way for a potential sale. That steak which is about 4.5%. Couple of deals in the drug industry Halos I'm Therapeutics up. 2%, the drug developer agreed to license technology for HIV treatments to a unit of the U. K's GlaxoSmithKline halos I'm will receive as much as $740 million and until you if Therapeutics of 3.5%, the drug developer agreed to help form a new.
MAD MONEY W/ JIM CRAMER
"five million shares" Discussed on MAD MONEY W/ JIM CRAMER
"But made these guys don't seem to understand why they want in reality. What they did was the engineer. Gigantic short-squeeze whoever they think because they're back hyun surge investor ryan cohen. Who's now game stops chairman cohen. Who owns a lot of stock in this game. Stop originally co founded chewy the fantasy successful web-based pet food retailer to the wall street pets crew coincide. Julie makes it a sure thing. They'll be able to turn around game. Stop these install his team of former amazon executives. They think he's ready to roll. I say wait a second. If you want allies ryan cohen because you think he built something incredible chewy then. Why not just julie. Which was down badly today. You're just reporting a very good quarter last. We been seeing one. And he's the ceo and talked about how the company's winning on so many fronts. The locks pet foods healthcare. Hey even simple things dog birthday cards. They have about twenty million customers with huge percentage on auto ship. That's the holy grail right. That explains why the cut peaking such gigantic for an e taylor jewish getting more and more sales per customer and it's the share of the wallet and the longer costumer stays the fold the more that customer spends now. It's easy to see why i mean. They're corn they send you portrait's of your dog. This is our marley mr morals. We've been calling him lately and they send you can owns notices. This is the weight invidia. Who is a very good boy. Who subsequently doubled. After he left us. And as i learned from ms marilyn on twitter which has been cleaned up a lot of nice people twitter. She said that her cat died and chewy center dozen roses. The ceo summit singh used to work in amazon. He understands scale but he's accomplishing the impossible. It chewy. he's creating individuality at scale. I can't believe it. And that's something. I'm sure ryan cohen. Who's no longer involved in any way shape or form. A chilly must've learned there to have whatever this week. Game stop plummeted when cohen gave shareholders. No plan to turn things around the on selling over five million shares to raise money but seeing he gave you a six thousand centers to adopt dogs and remember the great thing about invidia who some people still insist on calling everest is. He was a dog that had been beaten severely and we were happy to get more than and we got them right before that happened. And i like the fact that julie is bringing the light the centers that you can get dogs. And he's also offered seven thousand vets. They've gotten together. Who are helping us healthcare initiative neck and bring down the cost of owning a pet without sacrificing quality semi talked about the long term value of jewish customers unfortunately only delivered in inline new subscriber numbers stock clobbered. But let me ask you something. Which would you rather have the knockdown stock of an also ran out of date brick and mortar video game retailer with a very uncertain future. That's one by a former chewy guy and has already up one thousand one hundred and thirty eight percent or a terrific dominant digital we taylor with a crush dot off sixty percent. That's run by a car guy. I don't know about you. But i'll take the real chewy any day of the week. I like to say that there's always market.
Bloomberg Radio New York
"five million shares" Discussed on Bloomberg Radio New York
"Germany for one more season before coming to London. BBB, has said a transfer fee of €180 million. Although Ireland has released claws next year that will lower the amount of €75 million. The San Francisco 49 ers have canceled the rest of their OTAs and I've decided not to go through with their full team minicamps scheduled for June 15th through the 17th The losing two key contributors to season ending injuries just two days ago, head coach Kyle Shanahan says he had already planned to cancel. Many can't before the injuries, but I hope to have one final okay before training camp. Finally the Pacers firing head coach Nate Bjorkman after just one season as Indiana loss in the playing tournament to the Washington Wizards. I'm Dan Schwartzman that your Bloomberg World Sports update Markets headlines and breaking news 24 hours a day at Bloomberg dot com. Bloomberg Business AT and Bloomberg Quick Take. This is a Bloomberg business Flash problem. Well, very good morning to you 17 minutes past the hour. I'm Brian courtesy in the Bloomberg Interactive Brokers studio in Hong Kong looking at markets We update them for you every 15 minutes here on the program futures, not telling a very dramatic story here. Hang Seng Index futures down 1/10 of a percent. China futures up 1/10 of a percent. Australian futures flat Nikkei Futures 8 28,035 That's 25 points below the cash close yesterday. The dollar not doing too much. It's flat as well. Dalian 1963 Gamestop has brought in to Amazon executives to lead the company. The new CEO Matt for Long ran Amazon's business in Australia. The company may sell five million shares to raise money. And then after hours the stock tumbled initially down about 14% or so, but they've recovered here a bit now down about 5.5%. We mentioned that Bitcoin had recovered a little today. Bitcoin will become legal tender in El Salvador. Not that that's a huge story. But it may encourage some investors that slowly but surely there will will be more acceptance of Bitcoin right now it's trading. Up about $840 to 37,243. Depending upon your starting point reference. I've got it up about two and a quarter percent. And looking at the Chinese currency. It's trading a pretty steady 6 38 84 in the yield on the 10 year down to 1.49% investors still bit cautious ahead of the CPI report tomorrow, and that is a look at markets. Pellegrini with news in the newsroom. All right, Thank you, Brian. All the group of seven, including the U. S and Japan. It looks like they are planning to deliver at least a billion extra doses of Covid 19 vaccines over the next year, and.
MAD MONEY W/ JIM CRAMER
"five million shares" Discussed on MAD MONEY W/ JIM CRAMER
"Bears make money but hogs now that's one of the oldest lessons the trading desk but it always seems to come surprise the younger investors because they often don't realize that they are being hogs when you trade like the hog. You tend to be come. Somebody else's ham or bacon long before you would've expected it. That was stocks. You can bet again stocks but please once you've made a lotta money you take the bag. These are core tenets for me. That's why five months ago. I called in from my hospital bed at nyu angolan and said it was time the ring the registering game stop when the stock was at four hundred bucks so i thought that was caught six but the main stock guy saw it as a declaration of war against them. I just ripped out my cather. So i could have a little more focus. Remember at the time game stop was up more than one thousand seven hundred percent remarkable run so i think people should take off the table. I didn't even think anything. I mean not a lot of this way not long. Before i went into surgery it was for burst sis. My spinal calm. I minus the short seller's stop for being pigs. They watched the video game. Retailer stock down the near bolivian. But they can against it. Assuming you be like fisher bow. The shorts didn't take their gains while they had them and were obviously being pigs and in january. This little pigs got slaughtered. Now somebody saying the same thing about the bulls who watch their favorite stocks go from the single digits to four hundred truthfully is one of the best calls game stop. Swiftly fell to forty bucks less than a month later but the game stops fan base from wall street pets. it doesn't matter that was correct to meaningless to them. Anyone who recommend selling is the enemy which is why become a hated figure read. It's wall street bets. Probably the most hated person in their universe. And that's the betting sheet the ground ground zero for stock investing according to these younger investors. Or at least. I assume the younger given that it's all anonymous selling game stop. It's just an outright sin. No matter how much money has been made they hate those on the other side of the trade shortsellers but also baby booboo guys like me who castle people take some profits because of my core tenets in other words. My learned behavior is worthless to these people who castigate anyone who tries to help them even when those people turn out to be right. It could've saved yourself a fortune if you saw game. Stop at four hundred and brought back to fort now. I understand risk. It's possible to proven. But i'm not against game stop or aim. Cd's levels gave science. Currently below where. I told you ring. The registered j. It's now getting hammered after hours trading. Wake up terrific core. Frankly management did so. They'd said they'd sell maybe another five million shares at the money transaction. You won't even notice it. Frankly if you're in the stock east companies now have the ability to reinvent themselves because higher stock prices have allowed him to raise capital. I like that that said if you've written him up from much lower levels it take one off the table. The these stories could always get ding like game stops currently doing even though the numbers when could and they're bringing in a couple really season amazon a talking about great people also an sec inquiry into trading of the stock. But it doesn't sound all that serious to me or would have been sent to justice or they certainly were disclosed of the agency. Contact may twenty six. And it's voluntary. So i i'm not worried. Suffice it to say that nothing i heard. We'll stop the people who like it from wall street pets continuing to buy the shares tomorrow morning. Now let's look at yesterday's meeting stock. Though for a second wendy's i like that stockbridge. How like eating everyone in the breakfast initial plan and it just expanded the united kingdom. I liked it to continue to put the tastes. Best with my wife's favorite. Yesterday they went from twenty three to twenty nine. Now i agree with nelson peltz the chairman and major shareholder. Who told me today. He says the stock cylinder debate. But if i told you. I let's say less by wendy's twenty. Nine okay actor hyped by the website. And then i went to twenty-five is today i feel terrible. Maybe in the of wall street bets. I'd be applauded for weiqing the stock at any price. But i suspect some. How many of you in cascade municipal audience again. I'm not against risk. I think part of your portfolio should respect. What i call your mad money. I am one of the only on the only talking head that i've ever seen who actively encourages speculation especially for younger investors. The whole lives ahead of them to make back any losses however the throng at wall street bets often thinks that you should be all in perspective heap. They're in love with at the moment. And if if if for some reason. I think it's a bad idea what they're doing. Well you'd better shut up or be like ming. Get tough to me. it's unwise..
Bloomberg Radio New York
"five million shares" Discussed on Bloomberg Radio New York
"G Blue makes that Christmas with us having a look at how things are shaping up still a little bit of a turnaround for stocks and bonds, holding on To those games. All of course, with an eye on CPD. That's right. We've got that key report on U. S. Retail Inflation due tomorrow morning 8 30 Wall Street time and of course, will have special coverage for you here on Bloomberg radio. Now, some analysts were saying, even if tomorrow CP I print comes in a bit on the hot side. The Fed is really not going to change its path. We know that the notion of support from the Fed has been providing a boost to the bond market. And let's not forget some of the concerns over an uneven global recovery. That would be a positive for the bond market as well. So today we had prices moving higher yields down. Some of the action here may have been tied to a little bit of a short squeeze in front of that. CP I data. The yield on the 10 year Treasury dropped to a low of around 1 47 today last quoted in New York at 1 49. Nonetheless, that move down in rates weak in the financials. We had the S and P Financials Index today Down 1%. Overall, the S and P weaker by 2/10 of 1%. We had the Dow off nearly a half of 1% and in the NASDAQ Market, the composite index down just 1/10 of 1%. El Salvador has become the first country to formally adopt Bitcoin as legal tender Today we had Bitcoin up more than 8%. Brian. I've got it right now at 36,000. 6 35 Chicago Nikkei futures here 8 28,055, So I think we're looking into flat open in Tokyo. What do you think? Yeah, It's been like that all week. We've been trapped in very narrow ranges. As we look forward to that CPI report world obviously be on it very much. Tomorrow morning. We'll be talking about it this morning. Thanks very much, Doug. All right, let's get a look at some of the top stories here. President Biden is revoking bands on the Chinese owned apps Tiktok, and we chat that were put in place by the Trump administration. Instead, the Commerce Department here is going to evaluate the apps for possible national security risks. This would include harming American sensitive data. Former President Trump's measures have already been blocked by federal judges. They said that the former administration had not shown that the apps do pose a national security threat. Biden administration is conducting a separate national security review in the sale of Tiktok to an American company. It is not connected to today's action. Now we're looking at Gamestop as well shares extending their decline to more than 10%. That after the company announced a slew of post market news, including new executives tapped from Amazon, Matt for longer, so Amazon's Australian business becoming game stops. New CEO and other Amazon Amazon veteran Mike Ricupero will be serving as a new CFO, but would have changed the game. Has been looks. John Edwards. I don't know changes the game. But it definitely goes along with the game plan that Brian Cohen is trying to establish of turning Gamestop into more of a direct competitor with Amazon, moving it away from its roots of brick and mortar retailer, But it does still have those roots and it's still got to work through getting out of its difficulties as a retailer with physical stores. Gamestop bull, so I would better better sales than analysts estimated. It also said plans to sell as much as five million shares through a so called at the market offering. And also we just see the stock extending losses now to more than 12% the time. Five minutes past the hour, it's time for global news..
The Erick Erickson Show
"five million shares" Discussed on The Erick Erickson Show
"Cicadas worth eating the entire media out. There is intent on shaping your view of this as if it's something that should be done i it just absolute garbage. The that we've gotten to this point Just just nuts now. Have you bought game. Stop stock The meam stocks there. They're going crazy again. Game stop Amc listen to this Amc plans to shell sell eleven point. Five million shares and cautions investors. This is an actual quote from their sec. Filing our current market prices reflect market and trading dynamics unrelated to our underlying business or macro or industry fundamentals and. We do not know how long those dynamics will last. Under the circumstances we caution you against invested in our class a common stock unless you are prepared to incur the risk of losing all or a substantial portion of your investment seriously that that's crazy This is where we are the the those of you don't understand there's a red. It is a internet website. Were a lot of people go into a community where people are talking about stocks and they figured out that a bunch of hedge funds have made investments in a number of these stocks. And they're hoping that the stocks crash of the stock goes down. There actually gonna make money and show these funds are the these groups are buying a bunch of stock driving up the price of the stock knowing that these hedge funds it. They're going to have to buy more overtime. Give the dynamics of the market. It's gambling essentially. You're not investing. These people are an investing in the long term. You know there's an underlying thing here that i don't want to spend a lot of time on but in reality there are a lot of people have given up the long term. They really have. There are a lot of americans who've just given up on the long-term in fact there's a study out today. That a growing number of americans inc working hard Will no longer get you ahead. There's no reason to work hard because you'll deliver get ahead People are losing hope in the country that has long term ramifications. And i've got think are the russians and the chinese plaintiffs are the russians and the chinese doing something To game the system on the internet Against americans i think so. I'm pro-life and i'm totally okay. Talking about the subject. But i know people can get tired of talking about the subject. I wish people wouldn't but they can. And but i just i i. I need to speak about the story but it would take a different angle on it from some people. This is The texas team who has attacked a pro-life law in in texas in her high school speech then this by the way this is from the bbc. I'm reading the story out of the bbc on purpose. The british broadcasting corporation is covering the story with paxton. Smith got up to deliver her high school graduation speech..
Geek News Central
"five million shares" Discussed on Geek News Central
"I just i need. That's bad i think that's a bad man. marketing idea. Well in approaching at by the way. I walked into a grocery store yesterday. No mass required as able to sit down at a at a restaurant on tuesday walk in no mass required shocked. Absolutely shocked dumbfounded. Actually can't believe it's actually happening album. Louise will return to the office in september. They're pushing for hybrid. Approach apple police fulltime apple employees time work from home. Arrangements may be coming to an end. The tech giant email employs asking them to return the oppa starting september. Tim good said most people expected come in on mondays tuesdays and thursdays at a minimum with a to work from home wednesdays and fridays teams. That need to work together. Person will have to come in for four to five times a week. But that doesn't come. This is priced. some apple. Police had to continue working from the company's office. On certain days during the height of the pandemic the most were able to remote work videoconferencing calling his narrow. The distance between us reassured. That there aren't things simply cannot replace. Even my team have had some meaning. You know some of the folks back in the office and they say it's just good to be able to collaborate and talk and not began zoom. Call be face to face. It's it's pretty awesome article. Getting central swatch launches space collection swatches launch by watch space collection inspired by nasa and the exploration of space on sale today in the swatch stores from eight june online. The watches feature the famous worm nasa logo. These are going to be hot for those of you that Want one of those. I don't what are they gonna cost a day gives a price Bowed oh so these the only give us the euro price. i'll come. What is this only going to be in europe. Anyway from seventy nine pounds ours at euros. Seventy nine seventy nine pounds two hundred and forty one pounds so butter on route. One hundred bucks here in the in the united states andhra posted this. He's one of our writers out of the uk. So maybe this is a uk announcements so We'll see but maybe they're going to be available here in the united states as well. Twitter starts rolling up bird. Watch back check. Well who's looking at crowd sources way the misinformation with its new product bird watch become the launch of pilot version program back in january. But now they're ramping up their starting to roll at bird watch notes pilot participants across the iowa's android and desktop aeko spears. Are you a bird watcher for twitter. The our loved to hear from you. Amc oil boy. Here we go. Amc falls and then rises after record-breaking rally this week who would be responsible for that well wall street bats. Trawl traders on wall street bets. Who response for the record. High game stock stock prices. Only a few months ago were all in with the movie. Theater company is news. Came out that people. Betting against the stock known shortsellers had lost more than a billion dollars. Shortsellers lost two point eight billion wednesday alone. According to an insider like with game stop the wall street traders anticipated short-squeeze which is when hedge funds with bet against that bet against. Amc were forced to buy the stock at a higher priced avoid large losses. One edge fund. Though did the opposite by buying two hundred thirty million dollars worth of shares on. Amc friday and then selling them wednesday for hefty prophet in the end the trade kicked off the day's rally so but amc is getting into this on wednesday the theater chain launch. What's called amc investor connect. This portal is intended for retail investors. Meaning us poor. Folks who are non institutional stock traders like the ones found on wall street bets. Investors is signed up at the website will get a free popcorn and other benefits will also receive direct investor communications from the company. So they're all in their light. They just saved the day they really did Because wiped out some debt for them a whole bunch of stuff so Emc stock dropped a stock dropped after pilot form. Eight k saying it was sell eleven point five million shares and People jumped on it like crazy. Went to fifty eight ten then As high as seventy dollars think so Interesting move it's always fun to see these little things happening but again giving me free popcorn and They're they're all about supporting those in a prop up the stock. I guess so smart on them for doing doing that. This interesting topic. Vries's says forcing people are old plans they get. Fcc subsidies isn't up selling verizon says it will reverse subsea restrictions after complex billing system update. They're defending it's practice forcing customers. To switch plans to get a government funded fifty dollars per month discount telling. Fcc that this is not the same thing as up selling verizon's partially backtracked from the restrictive policy but told the fcc we'll take about a month to play billing software update that will dutt more home. Internet customers get the discounts without changing plants rises preventing some customers from getting the new government subsidies unless they switched to different plans that are sometimes more expensive. At and t. chartering team. I will t mobile also limit plans eligible for the new subsidies while comcast says it will honor the discounts even grandfathered plants at no longer opportunity customers. They're not losing no money. The government's given verizon all these folks money so it's not like they're they're losing any cash but it's kind of dirty to force them to upgrade to a higher plan. Oh you're paying sixty two dollars before and you've got fifty five dollar bill well Are you gotta sixty two are sixty two dollar plan. Really give you some free money. But you've got to upgrade to the seventy eight dollar plan. It's really crazy. So they want their cake and eat it too. Microsoft is gonna reveals next generation of windows on june twenty four especially windows events coming later this month. Then that comes just a week after nadella. Tease next generation windows announcement. Microsoft is expected details it significant change windows and they will likely include a number of visual enhancements. Were expecting to see some significant you. I changed in windows under some something. Code-named sun valley microsoft event invite appears to tease a new windows logo. Microsoft confirmed last month. That the windows ten axe. It's roosevelt produce. Green devices will no longer ship so We will see where this goes. What are they gonna call it windows eleven. Or what is the plan if you like amazon. Prime day set for june twenty first and twenty second. Get your credit cards ready. Prime day is returning to normal summertime. Slot after amazon postponed the two day sales event last year so Prime day is coming back with lots of savings on amazon devices so time to ramp up the revenue. All right. that's bring me to the show. Let me see what i've got in here for. Comments comments. come in. let me look a rob sent this to me. he said. Hey todd starlink in the alps and it's a basically in the french out someone's gotta starlink up and running and a little story on that so thanks rob percenting that over and i think that was it but i tell you what it can't be much longer i.
Geek News Central
"five million shares" Discussed on Geek News Central
"I just i need that's been i think that's a bad man. Marketing idea well. In approaching at by the way. I walked into a grocery store yesterday. No mass required as able to sit down at a at a restaurant on tuesday walk in no mass required shocked. Absolutely shocked dumbfounded. Actually can't believe it's actually happening. Album boys will return to the office in september. They're pushing for hybrid. Approach apple employees fulltime work apple employees time work from home. Arrangements may be coming to an end. The tech giant ceo sent an email employs asking them to return the oppa. starting september. tim cook said most people expected come in on mondays tuesdays and thursdays at a minimum with an option to work from home wednesdays and fridays teams. That need to work together. Person will have to come in for four to five times a week. But that doesn't come. This is priced. some apple. Police had to continue working from the company's office. On certain days during the height of the pandemic the most were able to remote work videoconferencing calling his narrow the distance between us. Sure but there aren't things simply cannot replace. even my team have had some meaning. You know some of the back in the office and they say it's just good to be able to collaborate and talk and not began zoom. Call be face to face. It's it's pretty awesome article. Getting central swatch launches space collection swatches launch by watch space collection inspired by nasa and the exploration of space on sale today in the swatch stores from eight june online. The watches feature the famous worm nasa logo. These are going to be hot for those of you that Want one of those. I don't what are they gonna cost a day gives a price Bowed oh so these the only give us the euro price. i'll come. What is this only going to be in europe. Anyway from seventy nine pounds ours at euros. Seventy nine seventy nine pounds two hundred and forty one pounds so butter on route. One hundred bucks here in the in the united states andhra posted this. He's one of our writers out of the uk. So maybe this is a uk announcements so We'll see but maybe they're going to be available here in the united states as well. Twitter starts rolling up bird. Watch back check. Well who's looking at crowd sources way the misinformation with its new product bird watch become the launch of pilot version program back in january. But now they're ramping up their starting to roll at bird watch notes pilot participants across the iowa's android and desktop aeko spears. Are you a bird watcher for twitter. The our loved to hear from you. Amc oil boy. Here we go. Amc falls and then rises after record-breaking rally this week who would be responsible for that well wall street bats. Trawl traders on wall street bets. Who response for the record. High game stock stock prices. Only a few months ago were all in with the movie. Theater company is news. Came out that people. Betting against the stock known shortsellers had lost more than a billion dollars. Shortsellers lost two point eight billion wednesday alone. According to an insider like with game stop the wall street traders anticipated short-squeeze which is when hedge funds with bet against that bet against. Amc were forced to buy the stock at a higher priced avoid large losses. One edge fund. Though did the opposite by by two hundred thirty million dollars worth of shares on. Amc friday and then selling them wednesday for hefty prophet in the end the trade kicked off the day's rally so but amc is getting into this on wednesday the theater chain launch. What's called amc investor connect. This portal is intended for retail investors. Meaning us poor. Folks who are non institutional stock traders like the ones found on wall street bets. Investors is signed up at the website will get a free popcorn and other benefits will also receive direct investor communications from the company. So they're all in their life they just saved the day they really did Because wiped out some debt for them a whole bunch of stuff so Emc stock dropped a stock dropped after pilot form. Eight k saying it was sell eleven point five million shares and People jumped on it like crazy. Went to fifty eight ten then As high as seventy dollars think so Interesting move it's always fun to see these little things happening but again giving free popcorn and They're they're all about supporting those in a prop up the stock. I guess so smart on them for doing doing that. This interesting topic. Vries's says forcing people off old plans they get. Fcc subsidies isn't up selling verizon says it will reverse subsea restrictions after complex billing system update. They're defending it's practice forcing customers. To switch plans to get a government funded fifty dollars per month discount telling. Fcc that this is not the same thing as up selling verizon's partially backtracked from the restrictive policy but told the fcc we'll take about a month to play billing software update that will dutt more home. Internet customers get the discounts without changing plants rises preventing some customers from getting the new government subsidies unless they switched to different plans that are sometimes more expensive. At and t. chartering team. I will t mobile also limit plans eligible for the new subsidies while comcast says it will honor the discounts even grandfathered plants at no longer opportunity customers. They're not losing no money. The government's given verizon all these folks money so it's not like they're they're losing any cash but it's kind of dirty to force them to upgrade to a higher plan. Oh you're paying sixty two dollars before and you've got fifty five dollar bill well Are you gotta sixty two are sixty two dollar plan. Really give you some free money. But you got to upgrade to the seventy eight dollar plan. It's really crazy. So they want their cake and eat it too. Microsoft is gonna reveals next generation of windows on june twenty four especially windows events coming later this month. The invite comes just a week after nadella. Tease next generation windows announcement. Microsoft is expected details it significant change windows and they will likely include a number of visual enhancements. Were expecting to see some significant you. I changed in windows under some something. Code-named sun valley microsoft event invite appears to tease a new windows logo. Microsoft confirmed last month. That the windows ten axe. It's roosevelt produce. Green devices will no longer ship so We will see where this goes. What are they gonna call it windows eleven. Or what is the plan if you like amazon. Prime day set for june twenty first and twenty second. Get your credit cards ready. Prime day is returning to normal summertime. Slot after amazon postponed the two day sales event last year so Prime day is coming back with lots of savings on amazon devices so time to ramp up the revenue. All right. that's bring me to the show. Let me see what i've got in here for. Comments comments. come in. let me look a rob sent this to me. he said. Hey todd starlink in the alps and it's a basically in the french out someone's gotta starlink up and running and a little story on that so thanks rob percenting that over and i think that was it but i tell you what it can't be much longer i.
The No Film School Podcast
"five million shares" Discussed on The No Film School Podcast
"All right our first story this week. Amc entertainment has sold two hundred and thirty million dollars in stock in order to go on a buying spree. they're already talking to the landlords of arclight cinemas pacific theatres. some of the movie chains. One of the things that happened in a pandemic or crisis is that some of the small players fall because they don't have enough cash or ability to raise cash to survive while bigger players that either have the cash or the ability to borrow cash and ab- scooping them up and i think that's what we're about to see we're about to see amc gonna buying spree of a bunch of little feeder jane's regionals and things like that that could have individually survived like the crazy thing is so it's not like amc had this money went and raise this money so arkley could also like investors could have just invested straight in arc light instead of investing game see to by arc light but there's this belief among certain investment groups. That bigger is better in there will be efficiencies of scale and like i guess there might be i guess. Amc might be able to get like cheaper popcorn buying it bigger volume and they'll have more powers negotiations with the studios. Here's a line from the from the article on the rap about this we also have coverage on it on no film school but the new deal The recent market surge has enabled the new deal since the eight point. Five million shares represent a small portion of the current trading volume. That's a wall street jargon. This transaction underscores the real value of having some authorized share capital available for us to opportunistically capitalize on shareholder value creation possibilities as and when they arise with our increase liquidity and increasing vaccinated population blah blah blah blah timeframe to go on the offense. So it's sort of like that's part of the the size and scale that affords them the ability to get their hands on this kind of cash quickly to make this kind of deal. That's my reading of that but it sounds like that's the reasoning. Why it's amc. I guess and not having the ability to get that kind of authorized share capital. What that means now. I feel like i need a glossary. Is it always goes back to we. Have this idea that like there are natural forces that are actually the results of design and so the way our stock markets are designed to operate is. They're designed to favor bigger organizations that think in shorter-term increments and so like if we redesigned our stock market. Which like. i don't know how to do. But i'm sure i'm sure there's a lot of people great ideas that favored longer term investments. That paid out money over time and favored smallness instability. It would have been easier for smaller companies to find those direct investments. I remember once. I met an investor and a coffee shop. It's a long story but we're like sitting three in a row and a coffee shop in someone else was like telling like the table next to us. Someone was saying about a need they had. I owned a company that time that provided that i like interrupted their conversation to be like. Oh hey i actually do what you need. You should call me. Give my card and the guy was like that was a really smooth way to do that. And we like a long conversation about sales and wind up people and stuff. And then i tried to put him in an idea and he was like. I'm really not interested in anything. That's not a core technology that will make billions of dollars. And i was like yeah. I don't have any like that. He's like yeah of course but like And it was one of those moments where i was like you know. Investors want tax returns investors. Big you know all of those things and so like does bum me out. That it's like. I really wish that somehow that two hundred like that the market. I don't blame any individual player in this but it would be awesome if our market were designed such that two hundred and thirty billion dollars could just be separately given to each of the individual little movie theater chains to keep doing what they are doing. As opposed to having to be given to one entity that will then go up by all the others and like that's can you realize names e in particular. Yeah yeah no i have. You make really good point. Amazing i think knocking min height myself before i say it but i think i have a really good corollary to industry creative experience in the film making industry. Which is that when you say you're a writer or director and you have a bunch of properties you're working on like ideas and you take a bunch to your manager and agent and they start trying to sell them. They will always take the ideas they think are the most profitable to the biggest companies. Because they're not that interested in small games because they get a small piece. They are interested the first they wanna they want to hunt the biggest game i because they're only going to get a certain amount like the hyenas that they are. Just kidding. 'cause you're doing the hunting right. They're just getting a percent. I'm just kidding they. They're they're whatever hunt you hunt and kill with your you know creative with your manager. Agent that manager agent is getting ten percent fifteen percent so or whatever so that i think the correlation is that amc is for the investor. It's the biggest bet. It's the biggest by. You're going to get the biggest chunk. Your tiny chunk is going to be a bigger chunk whereas if it's small investors then the junk is going to be smaller because the total is smaller. So i think that that's why we see this across all things in business where you know i. I am surprised. Honestly that we haven't seen in all this an amazon decide to buy an amc yet or frankly not just low but that was the other thing that was interesting in. This is like only two hundred and thirty million dollars like there's movies that cost two hundred thirty million dollars like this is too small potatoes for amazon. To care about like amazon's only ever bought two or three things ever and they're all in the billions of dollars range and mike. This is like why doesn't apple. Let's let's like. I wonder aloud. Why just say like hey you know what. Let's by all the movie theater like everywhere like why not right now would be the perfect time to just be like we own movie theaters like if you see a movie theater. You're seeing in an apple theater. Theory i wanna hear it. I'm curious dying model. No because that's no. I don't think i think that anybody. I don't think it's dying model. My grand children will still see movies in theaters. Like what's coming. The only be like one hundred people left on earth. But i think they'll still fire up the movie theater on friday nights. No i mean apple's not buying movie theaters because aesthetically. They're not interested in them. If every movie theatre had been built most in years and all had glass stairways the vast majority of them. They all like spaceships. Yeah the ugliest ones are the most revenue beneficial. The beautiful ones are still not apple. Beautiful right like be addiction. The are still like not anything. Apple is interest the end but then why does it networks netflix's basically in crazy debt. But don't you feel like net flicks would be a really interesting like we own the mood. The we are movies. It's part of our brand like it would be cool if netflix defined its friend beyond just we have a bunch of nasr really in their name though. Yeah yeah that's literally. But then i was on was known for like i'm sorry county just but but the that's true but then the thing with amazon to me. That's amazing is. They started opening bookstores because they were born to destroy the bookstore. None of.
Wall Street Breakfast
"five million shares" Discussed on Wall Street Breakfast
"Our systems are coming back online and we are not sparing any resources to fight this threat. The company added in a statement. According to steiner consulting group which researches the meat industry everyone day of disruption will significantly impact the beef market and wholesale beef prices. Go deeper the. Jbs attack comes just three weeks after colonial pipeline company. Operator of the nation's biggest gasoline pipeline was targeted in an ransomware attack which crippled fuel delivery and sent prices soaring in the us southeast. It's an even bigger problem when hackers targeted industries dominated by one of a handful of companies. Jbs cargill tyson control about two thirds of america's beef while the white house advised companies in the past two criminals over ransomware attacks that stance maybe changing given vulnerabilities in the supply chain and the lack of investment in robust cybersecurity the federal government agencies were hacked not too long ago and the solar wind attack that penetrated thousands of organizations in other news. You stock futures were unit again overnight following a flat session for wall street on tuesday. The sit tight mentality is being reflected in the broader market as traders continued to ponder inflation risks rebounding consumer demand supply bottlenecks and red hot manufacturing some other catalysts might be seen in the coming sessions when the labor department releases. Its jobs report on friday before a high profile. Fomc meeting set for in mid june. Yes inflation will overshoot in the short term but the fed is cognizant of that risk and they are looking at a dual target of full employment and inflation said carlos cazenove senior asia economist at union bank hair privy in hong kong so that has made investors less concerned potentially about the pace of the fed tapering this year focusing more on the pace of reopening this year and leaving that concern about tapering for next year or beyond. It's not quiet everywhere. The main trade is in full force as the retail brothers returned to pumping stocks via wsb credit amc. Entertainment is taking big swings this time around with the stock up another thirty three percent pre-market to nearly forty three dollars following a twenty three percent advance on tuesday. The stock is up two hundred percent in the last week. Giving some big returns to those who got in early on the storm. Many are moving in and out of the stock at a quicker pace like mudra capital which offloaded eight point five million shares on tuesday just hours after it acquired them on the economic calendar investors will be eyeing the fed's beige book. This afternoon the report offers of you won't how businesses are faring and current industry conditions such as an overheating economy or inflationary pressures. This book is produced roughly two weeks before the fed meets to set monetary policy which is single most influential event for the markets cannabis legalization efforts continued to expand across the united states and the movement. Just one another big backer amazon. The nation's second largest employer will no longer screen it's workers for the drug except for position subject regulation by the us department of transportation and will drop we'd testing requirements for recruitment. The news follows a lawsuit for march. In which a new york man sued amazon aurora rescinded job offer because he tested positive for marijuana new york city band. Employers from testing job applicants for cannabis in twenty twenty. No smoking at work. We will continue to impairment checks on the job and we'll test for drugs and alcohol after any incident amazon wrote in a blog. Post the ecommerce. Giant is also throwing its weight behind federal legalisation with its public policy team actively supporting the marijuana opportunity reinvestment and expunged act of twenty twenty one besides legalisation the more act which was reintroduced in the house. Last month would expunge. Criminal records related to cannabis and invest in impacted. Communities seventeen states so far legalized pot. Use for adults and over. Thirty states have allowed. Some form of medical marijuana. Other changes amazon is long track. The productivity rates among its warehouse workers recording the of packages they pick pack and sort each hour the workplace policy has been controversial due to what some say forces employees to work at a breakneck speed as a result. Amazon is making another policy modification in response to the criticism. Starting today we're now. Averaging time off over a longer period to ensure that there's more signal and less noise reinforcing. The original intent of the program said dave clark. Ceo worldwide consumer while earning season is winding down. Investors focused in on one big name yesterday that made big waves during the pandemic shares of zoom video. Two percent after hours trading following q. One results that exceeded estimates across the board profits reached more than two hundred and twenty seven million from about twenty seven million a year ago while revenue topped nine hundred and fifty six million up from three hundred and twenty eight point two billion a year earlier by the numbers zoom phone which includes cloud based phone services along with video calls and.
AP News Radio
With AMC Shares up 1,100% in 2021, Company Sells Shares
"Movie theater chain AMC is raising two hundred thirty point five million dollars by selling eight point five million shares of stock I marches are a letter with the latest AMC stock price jumped more than eleven hundred percent this year yes people are going back to the movies as corona virus vaccinations increase but that's not why AMC is a so called memes stock along the lines of what happened to game stop large institutional hedge funds bet on AMC stock to fall while online investors banded together to force a short squeeze AMC management says the company will use proceeds from the share sale to invest in new leases and on improvements in existing theaters
Grumpy Old Geeks
"five million shares" Discussed on Grumpy Old Geeks
"That this will enhance quote unquote cancel culture. Because what you can do is basically short someone stock find an old tweet put it out there and have them tank and then prophet. Yeah that's assuming anybody ever uses this thing. The would which they aren't now to begin with a couple of different things struck my mind first off a in theory actually. Isn't all that horrible of an idea except for the ability to get to basically short people. That's horrible. I wonder if there was. I mean obviously you could shut that off within your own currency. But you can't stop people from doing it because they use different currencies to do it but financial markets are horrible. That's always going to happen. And that's horrible. So that's a bad thing. The other thought that came to mind is that basically The whole idea behind this network is that you could mix speculation and content together so you could talk about the way that you're monetize and what your pay. This will not fly in morocco. Apparently and but in general this is kind of the idea that we always kinda sorta light is like micro payments for what you're doing. I mean if you're writing really good. Content than people are going to give you micro payments of bit glitz. And that's great because we've always said that that would be a wonderful thing a way to monetize your posting out there. Let letting people make micro payments. It's just a horrible way to do it yet. There's another site out there that this reminds me of. I can't remember. Oh god it's gonna drive me crazy every month. I get an email from them saying that. Oh my accounts about to expire. I need to come in and check in to make sure that I get to keep my account in what it is. It is the same thing. It's basically a stock market for people. Right i mean it's kind of remember. Hollywood rings a bell. Hollywood online that was worked at. So there's this is basically hollywood online for people and so this is kind of the same thing using actual money. Yes yes yeah well actual money. That's true the other thing that really came to mind because they were talking about in this article. They talked about a number of other fucking coins as well at this point. How many crypto currencies are there. I feel like there are more crypto currencies than actual people out and Yeah i mean. God remember the big days like a couple of years ago where everybody i mean. God burger king had aucoin those oppa the coin only in russia. And yeah there's tons and tons. Of course just go logging coin base and you can scroll for quite some time to find out i found it. Ha- new would find it It used to be called empire. Avenue now is empire dot com k. k. r. e. d. Very cool yes. So if you go to empire dot cred Let's see here. I i been on this site since it launched and you have any credit i surprisingly do because the funny thing about it is. I never got rid of my count. So i go in every month and i keep you know just doing the basics to i've got stockholders and i look Yeah well done. You've got the outstanding thirty two badge. I have sold twenty five million shares after increase my portfolio but my portfolios one hundred six million. I think they're called eve's yes eve's my portfolio wealth is like two trillion two billion two billion eve's shit. Why even do in this podcast retire. I know except except eaves are just about as useless bit. Clint can't get so. Yeah kind of the same thing i just. I couldn't. it was driving me crazy at empire. Avenue was what it used to be called now to empire cred and they do have how. What was the you should know this. You are big into the social marketing. What was the system that gave you a basically a social points for you plug in all of your different social media and then you've got like a score influence or score like ten of them have one the other one big one. I couldn't tell you right now. Yeah i always go back. And i think a wealthy but it's not that i think corey dr missed the boat on that one could have now what coin he can. He can resurrect coin and finally in the news Virgin galactic has unveiled spaceship. Three pages. Mr branson what happened to the spaceship to we. Don't talk about to hear spatial. All the new hires never mentioned to why what happened. We don't talk about. Don't talk about that anymore. i will say it's shiny. It looks pretty. It does yeah. Yeah spaceship to not going to be flying again. I guess until may because something went wrong last time and Apparently this is comes back. I think the the satellite de gossett because there was a radiation spike in the computer. Shut down on the last light. So that shielding is important. When you're going to space wait. They don't go to space. This is like this is just the tip this just the tip or not going all the way into space media brian. I watched a movie this week. eddie izzard is in it who we both like news dame judi dench's in it too so based on those two names..
Joey's Totally Tech
"five million shares" Discussed on Joey's Totally Tech
"Or three. Is the juice the sleeves. If you've never heard of short-selling for a short species don't feel bad. Neither had ninety nine percent of the country before last week selling the practice of borrowing shares of stock in the company and then immediately selling them. The goal here is buy back. The stocks lower price at a later time return the initially borrowed shares and pocket the prophets this practice hover incurs a significant level risk as short seller. We responsible for paying the difference in the price of the stock. Were to up a default short zone also leaves you susceptible to the judge. George speeds short squeeze occurs when the value of assorted stock is inflated causing the price of during short squeeze the short seller is forced to buy back all the stocks that they shorted to avoid incurring further losses as a crisis of the stock rise by january of this year. One hundred forty percent of game stops publicly invested shares have been short soul if this seems mathematically impossible to you. Don't worry there is an explanation. This is because a significant amount of game stop. Stock have been shorted. Relent distorted again. This trend caught the attention. Of the core riddick called wall street vets members of the sub. Reddit saw that game stop. Stock was being under valued and realized that they could trigger short weeks on january. Twenty fifth over one hundred. Seventy five million shares were traded baking. The second orders in a single day in the history of the doubts wall bets was able to successfully drive up the price of in stop stock. Fifteen hundred percent between january limits in january twenty seven as of january twenty eighth game stop stock trade at its highest ever price of four hundred eighty dollars a share. It even briefly rose above five hundred dollars. A share during pre market trading on the same day as game stops record-smashing stock trading price of the popular stock trading. Robin hood also differed sabine. Stop as well as other ball stocks. This trend was followed up by other platforms in the following days on january. Twenty nine robinhood claimed that they had implemented trading restrictions on game stop stocks as a result of the sharpening fine in the amount of capital needed to execute traits in other words because the amount of time approximately two things between when a stock purchase when cash insecurities exchange brokerages have to post collateral in order to ensure the client transactions. This is done so that. In the event that brokerage fails it does not cause down effective damaging other brokerages as well by february. Second game stop. Stock price fell more than eighty percent inflows below one hundred dollars other stocks. Such as amc theaters and blackberry also fell an estimated twenty seven billion dollars in market value. Had been lost since game stops highs. Training price is lead by many as sharp decline in gaining stop. Stock price was a direct result of the trading restricted as rabid and other firms. So that's the story of the honky-tonk daca dot joey. What do you think well. That's quite an interesting turn of events. I know game stock had been struggling and really still struggling as far as a company trying to get Customers in a day and age where people are buying games online. Now you know but that's kind of crazy Seeing all these people are regular people. Like you and i find game sought Dave stock gained stop stock as a tongue twister resident. How well you're editing. The story that we just did. But i messed it up like fifty times. So we're going edit that much out but the discussion we're not go ahead at so much Yeah game stop stott. It's like it was going through the roof. Doubts falling but Yeah it's kind of insane and you know some people might have been doing it to screw over hedge fund managers others might have been genuinely interested in the stock and wanted seek game. Stop continue for whatever reason the justness dow for the company or what. I don't know yeah. Yeah i mean. I understand that. I mean like we've talked. Belgian three episodes and styles is pretty powerful. like not like do it as apas. I used to every coal months game stopped. Osman likely no forty fifty sixty bucks maybe on new game. If i feel like it just right yes something about walk into. The store will like twenty minutes now. You know maybe check out reviews on my phone. Whatever he had at the end of the day like it is a dine business. You know brick and mortar. Itself's dying so as fizzle media say gave was doubly screwed yet Well i don't know that all brick and mortar stein. I mean look at target. I mean target has its Physical stores and i think a lot of people are still to certain festivals stores target being one of them but target also has a huge online presence now and they've done tremendous business online. I think company like that as A reasonable chance of surviving if they want to do both for the border and own line and do it. Well that's the thing i mean. All these orders sites are gonna have to move online eventually. Like in the next in fifty years from now. Like like twenty seventy one. The retail space look much different like brick and mortar is gonna be like what online retail was like in the mid nineties. You'll have say it's milk in each thing maybe kept you'll have like a chorus or here and there but i'll have like these big box stores. Those to be primarily online might have a few here and there in markets by zinc overall thanked liked the online direct service. You know next day free shipping. I think that's going to catch on. That's just more enough poll. Yeah target is definitely heading that way. i think i see target stores The target store you know right now is probably not going to be the target of the future and fact the newer stores are smaller stores. You know the fa faa continue as brick and mortar. I see smaller locations that serve the community needs at the same time Just nationwide they're going to be mostly an online retailer. I think that that can happen. Because i do see smaller. Stores like serving community needs basically or like food by unfilled line stores. Aren't that big For those who aren't here. North carolina or south food lion as a local grocery store fit lion. Stores aren't teach but they serve a community needs. You know what i'm saying so say i think you'll have small community like i said smoke places to shop. I think have a little dollar stores and convenience stores ever your flick items e. Don't need wait for our story right or you know maybe in the future you speed cheap enough to have some. Bring it to you know so here here. In the south particularly for many people shopping is a social experience. You know that is true. That is very true. Other parts of the country that may not be the case..
Equity
A tale of two direct listings
"Hello, and welcome to equity shot are quick hit on breaking news I'm Natasha Mascarenas and today joining me to talk about a tale of not one. But two direct listings on the same Damn Day is Danny Creighton. How are you Danny doing? All right this is exciting. You know we went from a world of no direct listings to an occasional direct listening to multiple direct listings in the same day. So it's an exciting exciting morning. We can finally stop breaking up spotify in slack whenever we say the L word and reinvention Asana, and pollen tear, which are the two news heads we got today it's zoo of curiosities. But lots of great stuff to talk about where where do you WanNa start you WANNA. Start with Asana or palate here. What's more interesting to you I think I have to start with pollen tear and my big question is you've been tracking it through every. You know crazy filing, your high level thought was this a successful debut on the Stock Market for? Today I think it's a definitely a success. You know the stock from January two, thousand, nineteen onwards trading at around five to five, fifty, a share, and then in the last two or three months that price jumped to about nine dollars and sixteen cents as of September first, and so you know when when the reference price came out yesterday from the New York Stock. Exchange which was quoted at seven dollars and twenty five cents. A lot of people were like, wow, that's like a significant drop from nine sixteen like what happened particularly also last week we had the Wall Street Journal reporting they were looking for a ten dollar referenced price. You know none of those numbers were really good but look it's trading. Now it's live as we're. Doing the show, it's ten dollars and sixty one cents a share I'm. So it's better than all the numbers we heard before and it's up fifty percent on day one. So so part of me feels like this reference value was actually chosen precisely to give it a pop on day one you know if they were targeting ten bucks on Day One, this is sort of what they got and so a little bit of a lower reference price might have given them a little bit more of A. Psychological boost on on day one. So I, I think overall to success. Do you. Can you talk me a little bit about how we're trying to value the company right now I feel like I'm seeing a bunch of different numbers out there. Do we have an understanding of its fully diluted market value? We do there's still a little bit abate mostly because Peletier gives multiple numbers for the number of care. So it gives us one point six, billion shares outstanding two point one fully diluted two point one billion fully diluted than two point five billion fully fully fully diluted and so. I would say that its current share price, we would call it around twenty, four, billion in evaluation, which is an uptick from its its last rounds. Again at you know for a seventeen year old company to have the sort of strong debut on Wall Street I think it's pretty good. All things considered. Okay. Cool. I'll put a pin in Pailin tear, but I do want to talk about their lock-up period later, run me through Asana numbers I. saw it opened at a five point two billion value. Yes it's on a similar story. So yesterday, The New York Stock Exchange released a reference value of twenty one bucks per share. It zoomed straight out onto the public market. So it debuted, it's currently sitting at twenty eight dollars a share up thirty three percent on day one so far it's up to about I. Think it peaked at five point, two billion, and as of now is more like three point five, three point seven, five, billion market CAP. But again, that's actually significantly higher than his last valuation, which was an inlet late twenty, eighteen around one and A. Half billion dollars so either oke across the board I think both of these issues you know there's always a lot of risk drake listings. As you pointed out Natasha there haven't been that many is this sort of a novel mechanism. They're still a little bit unclear and exactly how they work, and so it's great to see again similar to slack spotify you know these are two enterprise. Companies to again totally different from the more consumer is random companies particularly spotify, which has tens of millions of consumers who might be retail investors buying into the stock. Most people haven't used the Sauna and certainly must people haven't used Pailin tear and so to see the kind of strength on the markets and the first day is is enticing for other companies considering the direct listing model. Right There I feel like pollen tears total customer base was what one? Hundred Fifty, company, hundred, twenty-five customers. That's a lot of customers Doing Gospel distanced. Something it's probably my favorite statistic about the company and I think I saw Dan Prime tweeting the other day that you know it's no longer going to be a secret of company. So we can stop calling it as such. This is the end of that right that confrontation about pollen tear for. So long we've been having well I, I will say. This about an hour ago. So may not be true today. A ASANA has an investor relations page like a standard like every company who publicly trades Peletier does not like it actually does not have as as of an hour ago that I looked up I could not find an investor relations page for here, which which tells you everything you need to know about the company I, feel like that is like in a beautiful one sentence or describes his relationship with investors, but but I think you're absolutely right you. Know despite the fact that only one, hundred, twenty, five customers despite the fact that took seventeen years three hundred grew it's growing from seven hundred, forty, three, million in revenue last year in fiscal year twenty, nineteen, it gave a revenue projection for twenty twenty about one point, five, billion to it's a growth company. It's SAS more and more SAS today than it was in the past where it was more services driven. So again, it's a positive story despite all the kerfuffle around its governance the last couple weeks do you Do you feel like the direct listing method might now take on more popularity. I. Mean. Maybe in some way, but can we even is? Is it enough of a success? You'd think that other companies might follow suit now that it's not just spotify that that did this. I think the more the merrier right I think Palentinian particular raised capital round back in. July right which was sort of what I was told from some insiders essentially the IPO that was the IPO and then direct listings just the actual market exchange. So I think we're GONNA see more companies taking this approach of bifurcating the capital, raise the float that you would normally do a IPO and just the actual just GonNa Start. Trading today and you know I think that that allows you more time to create the right narrative the right story of and also separates what is a a pretty intense kind of crisis driven process the road show getting the company ready the SEC filings separating out at out you don't put all your eggs in one basket. You can do it in stages and I think more and more companies undertake that approach going forward. My question to is and I'm sure our listeners are curious is with all direct listings. There's no shares offered by the company when the when it debuts and so when we see these prices I, guess how much of them are they vanity metrics much of their HABITA- goals, how important are they for us to care about and think about? I wanted to be precise. So there are no new shares offered by the company. So there's no dilutive in an IPO generally have fifteen, maybe twenty percent new shares offered to the public. There are no new shares but many of the insiders have to pay taxes capital gains they actually do have to sell shares. So you know so far this morning already thirty five, million shares of have already been traded and We have on Pailin tear thirty, two, hundred, and thirty million. Shares sold today, right? So already, there's a market, there's clearly tens of millions of shares being sold. So these prices are real or Israel as any other IPO in which people are you know figuring out what's going to happen? You know the next checkpoint for both of these companies is gonNA come in a couple of weeks when they report their next quarterly earnings and I think by then you'll start to see the analysts get comfortable the companies understand the next steps and what's happening after. And you're speaking with Dustin Moskovitz later today the founder of Asana. So any questions on that? You can kind of tease out right now. Well, I was told. The pure folks. About our stock imagery because apparently no longer has sideburns to. Join, the Line of people that complain but it's like you know there's the old line about taking a haircut. Up Thirty, five percents of they actually gained hair on the market today speak. Clearly. sideburns maybe somewhere else. But? No I. THINK WE'RE GONNA be really interested because some unique company in which its founders, Dustin Moskovitz who Justin Rosenstein, who both met each other at facebook actually majority of the company outright right. We just never see or very rarely see tech companies where the founding to CEO's and and COO own like outright majority like not just a majority of the voting because of class, a class B shares but they just outright own about thirty two percent of the company I believe doesn't owns thirty six. Percent of the company outright and just knowns around sixteen point, one percent and so to me like I'm just curious because it's just a different path for a company it was a slower growth company capital much more efficiently grew much more methodically and the founders sort of maintained ownership over time in a way that most other founders do not think the other. The other thing to put out here is Asana has no lockup though the similar to spotify Ed to black as listing all the shares are available for trade to anyone. Who any insider anyone who owns a share of on this morning can put it on the market and sell it Here is the complete opposite pallares pioneering this new kind of fusion of the IPO and the direct listing one would argue maybe the worst of both of those processes but actually a direct listing with a lockup and so only roughly twenty eight to twenty nine percent of pollen. Tear shares are even available for sale at all with the rest in lockup and market standoff agreements that will expire over. The next calendar year. So you know there's a lot more to wait on right. There's not as much liquidity with Pallares could actually harm the stock price. They might be a little bit inflated right now because there's limited number of shares available for trade, we'll have to watch and see but again, it'll be interesting to see if other companies start to do a directing the lockup because clearly Palin tear has not suffered tremendously using this model. So again, another tool in the tool chest and uber do something similar with lock-up period. mean. They did like all IPO's. Underwriter from a bank, they have lockups in place mostly to make sure that there's not a mass rush to the exit. They don't want hundreds of millions of shares at any price willing to be sold. They WANNA, kinda manager coming out because they're putting oftentimes their own money up through the green shoe at stake, and so again, that's what made direct listings unique is that there wasn't this lockup employees are free to do on day one through whatever they don't have to wait six months as is customary. So again, we'll see kind of where the the system lies in the future. As you know, the New York Stock Exchange also got approval to do a direct. Listening with a capital fundraise so we've gone from this world of like there's an IPO and that's the only way to go public to. You can do a direct listing, a direct listening with a lockup, a direct listening without lockup address listening lock-up in a capital fundraise like you can do anything you want. You know it's it's the it's the Netflix of going public. So to speak I, see the headline now airbnb goes public through a through a pollen tear style direct listing. It's just going to happen and it's going to be horrible but we will be back here to talk about it as always every shareholder gets a free party house for one night so. That'll be the new innovation going on there, but but that's a sonnet that is Pelham Tear Ford they an and we'll have more to come in the next week.
AP 24 Hour News
Pet supply retailer Chewy fetches 60% pop in debut
"I line Pet Supplies retailer chewy has made its Wall Street debut, shares soared sixty four percent on Friday. Stocks rise. Now puts the value of the company at more than fourteen billion demand for the initial public offerings been high with investors banking in the growth of the pet market. Chewy raised just over one billion dollars. Forty six point five million shares sold at twenty two dollars each as above with the company had expected and after noon trading Friday at shares were trading. More than thirty six
This Week in Tech
Warren Buffett says he wants to buy even more Apple shares
"Dragon some money must rather large smug hord they are going to send spend some of it buying stocks and that is that is actually good news for shareholders warren buffett seems thrilled warren buffett announced at berkshire hathaway annual meetings that they're gonna buy even more apple they purchased seventy five million shares of apple during the first quarter so they obviously the oracle of omaha is not yet convinced that apple is done he's he sees a lot more growth he says the hundred billion i'm delighted to see them repurchasing shares i love the idea of having our five percent or whatever it is come on more you know exactly what it is five percent or whatever it is maybe growing six or seven percent without laying at a time that's what buybacks do for current shareholders they it's the reverse of dilution i guess concentration of the value so that's berkshire hathaway has fortyfour billion dollars worth of apple stock two hundred forty million shares and by the way that was really good news for apple tim cook the stock price when when berkshire hathaway announce that went up and tim cook said i'm thrilled that buffet is a major i'm thrilled five percent that's a huge stake j sued steak that's kind of amazed i saw also saw we're both it said that he he he was wrong about google and amazon and he didn't invest in them shareholder asked him they have this annual meeting in omaha and people comments it's kind of a hoedown very friendliest shareholder said bill gates is in the audience he's good friends with said we'll we'll warren how come you've nev you buy all this apple you've never bought microsoft and buffet said well i didn't buy in the beginning because i was stupid and i don't buy it now.
Buffett’s Accounting `Nightmare’ Fuels First Loss in Nine Years
"Insurance money update from abc news wall street now when the oracle of omaha speaks investors listen and it led to a rally to end the week the dow closed up three hundred thirty points the nasdaq up one twelve and the sp thirty one on the plus side apple stocks rose three and a half percent after warren buffett said his berkshire hathaway company bought another seventy five million shares of the company stock apple is up twelve and a half percent for the week a solid earnings report also contributing to the gain like he was berkshire more than two hundred forty million shares altogether and pushed its stock price up by more than one and a half percent alphabet the parent company of google and cisco systems both up around two percent employers stepped up hiring modestly in april adding just over one hundred sixty thousand jobs that was enough to push unemployment nationally below four percent for the first time since the year two thousand down to three point nine percent average hourly earnings rose two point six percent from a year ago in line with the communists expectations daria albinger abc news twist in a murder case that captivated the nation in the nineteen seventies michael skakel's connection to the kennedy family made his conviction explosive get has now been overturned nearly a half century after the murder of martha moxley the connecticut supreme court said his trial counsel michael sherman the fame trial attorney was deficient and that's why they overturned the.
Vice president Mike Pence's doctor resigning
"The oracle of omaha speaks investors listen and it led to a rally to end the week the dow closed up three hundred thirty points the nasdaq up one twelve and the sp thirty one on the plus side apple stocks rose three and a half percent after warren buffett said his berkshire hathaway company bought another seventy five million shares of the company stock apple is up twelve and a half percent for the week a solid earnings report also contributing to the gain that gives berkshire more than two hundred forty million shares altogether and pushed its stock price up by more than one and a half percent alphabet the parent company of google and cisco systems both up around two percent employer stepped up hiring modestly in april adding just over one hundred sixty thousand jobs that was enough to push unemployment nationally below four percent for the first time since the year two thousand down to three point nine percent average hourly earnings rose two point six percent from a year ago in line with economists expectations daria albinger abc news commode twists in a murder case that captivated the nation in the nineteen seventies michael skakel's connection to the kennedy family made his conviction explosive it has now been overturned nearly a half century after the murder of martha moxley the connecticut supreme court said his trial counsel michael sherman the fame trial attorney was deficient and that's why they overturned the conviction abc's aaron katersky reporting another white house resignation this time the doctor assigned to vice president mike pence and it may be related to a confrontation between pence's doctor then president trump's physician the vice president's physician dr jennifer penna resigning from the white house medical unit but no one in mike pence's office will say why last fall dr penny reportedly expressed concerns about mr trump's physician ronnie jackson and how he handled the case involving vice president pence his wife karen the pens team saying the medical unit would respond to questions but so far no comment on the resignation that's abc's andy field reporting here are your political insights from abc news president trump says his attorney.
Warren Buffett's Berkshire Hathaway buys 75M more Apple shares, sells off IBM
"The oracle of omaha speaks investors listen and it led to a rally to end the week the dow closed up three hundred thirty points the nasdaq up one twelve and the sp thirty one on the plus side apple stocks rose three and a half percent after warren buffett said his berkshire hathaway company bought another seventy five million shares of the company stock apple is up twelve and a half percent for the week a solid earnings report also contributing to the gain that kim's berkshire more than two hundred forty million shares altogether and pushed its stock price up by more than one and a half percent alphabet the parent company of google and cisco systems both up around two percent employer stepped up hiring modestly in april adding just over one hundred sixty thousand jobs that was enough to push unemployment nationally below four percent for the first time since the year two thousand down to three point nine percent average hourly earnings rose two point six percent from a year ago in line with economists expectations daria albinger abc news former president george h w bush released from texas hospital as we hear from abc's alec stone it was early last week when former president george h w bush was hospitalized shortly after barbara bush's funeral the forty first president battling a blood infection the ninety three year old was in the icu for a time now family spokesman saying president bush has been discharged from methodist hospital in houston we're told mr bush is doing well and he's happy to return home alex stone abc news iowa governor kim reynolds has signed the most restrictive abortion law in the nation is determined when the heart stops beating then doesn't a beating heart.
Al Bingham, Dan Gorenstein and Apple discussed on
"Means even less profit for insurers in a typical year companies will raise premiums to keep up with rising healthcare costs somewhere around the mid single digits but with a threat that healthy people will ditch the market that's not happening says al bingham with weekly consulting you know you're looking at something like nigga hi teams that his best guess at the national average given insurance growing comfort with this market bingham says if there were less uncertainty this year he need expect increases to be about half of what he's expecting i'm dan gorenstein for marketplace coming up it's just not why you go to restaurants that it's never at the level of the other food in the place the ice cream sunday and why it must be stopped but first let's do the numbers down one and three tenths percent today three hundred and thirty two points twenty four thousand to sixty two the nasdaq up one point seven percent one hundred twenty one point seventy two oh nine s and p five hundred picked up about one point two percent thirty three points ended things at twenty six sixty three four the week gone by the dow off twotenths percent the nasdaq rose one and a quarter percent the s and p five hundred down about t tenths percent good week it was for apple though the stock jumped another four percent today thanks for warren buffett he disclosed he's been on a seventy five million shares shopping spree in the first quarter buffet shareholders benefited as well picture hathaway stock closed up nearly two percent higher google make that alphabet i guess that more than two percent facebook packed on more than one percent as well bonds were steady yield on the ten year treasury two point nine five percents you're listening to marketplace marketplace is supported by snp global market intelligence delivering essential data and insights to business and financial professionals snp global market intelligence know what matters and by c three iot the software platform for digital transformation using artificial intelligence and iot to solve previously unsolvable business problems learn more at c three iot dot com and by magnolia pictures and participant media's czar bg a documentary portrait of the life and career of supreme court justice ruth bader ginsburg now playing in select theaters.
Bloomberg Daybreak
Buffett's Berkshire Hathaway bought 75 million more Apple shares in first quarter: CNBC
"Facebook's recent privacy data scandal facebook declined to comment john tucker bloomberg daybreak john thank you twitter is advising users to change their passwords words after the company found a bug in systems that expose passwords internally twitter says it removed the non encrypted passwords from its system and is working to avoid such an issue happening again or in buffett's berkshire hathaway has bought an additional seventy five million shares of apple that according to a report from cnbc the news comes just ahead of berkshire's quarterly earnings report and its annual shareholder meeting in omaha tomorrow bloomberg's jeff bellinger has more look conglomerate will release its first quarter results on saturday and they could be cause for celebration bloomberg intelligence says berkshirehathaway is projected to post a forty one percent gain in its adjusted pershare profit several units including geico general re and burlington northern santa fe likely did better and like other corporations berkshire benefited from the tax overhaul forecasts are for berkshire hathaway to post revenue of more than fifty eight point two billion dollars jeff bellinger bloomberg daybreak thank you jeff nestle is reportedly closing in on a deal to to acquire part of the starbucks business that sells coffee and beans at supermarkets that's according to a swiss financial blog which says an official announcement could come as early as sunday representative for nestle declined comment sp futures down three points this is bloomberg five oh seven on wall street the president talks to the nra bloomberg's michael barr with that and more good morning to you michael good morning bob president donald trump is set to address the national rifle association today trump will speak at the convention in dallas it comes two months after one of the deadliest school shootings in us history in parkland florida meanwhile protests are also expected at today's nra convention as president trump and his attorney rudy giuliani created more legal headaches for the president giuliani now says the president knew about one hundred thirty thousand dollar hush payment to porn star stormy daniels white house spokeswoman sarah sanders says the president only learned a few weeks ago that the retainers he was paying his personal lawyer michael cohen were actually reimbursements for that payment giuliani stated this wasn't something that was initially known but later learned and again we get the best information possible at the time and we're gonna continue to that every single sanders says she was i aware of the reimbursements tacoma komen during giuliani's interview wednesday with fox hawaii's governor assign emergency proclamation after the kilowatt volcano erupted yesterday and.
Hedge Funds to Watch in Facebook Fallout: DE Shaw, Appaloosa
"What's notable is that a number of these funds really boosted their facebook holdings in the fourth quarter and if they are still in these positions which will find out next month but if they are still in them to some degree they very likely got hurt by the twelve percent plunge that facebook has faced so far this year not to mention some of the other tech stocks do we know about their holdings their co two has a number of different tech stocks they are larger tech holders so in the fourth quarter with a writing the tech wave just how much do they bump up they're holding so a number of them had really pumped up those holdings eastshore more than doubled it's taken facebook at the end of last year for them to four point five million shares that's worth about eight hundred million dollars at the end of the year a qr also boosted its stake in the fourth quarter and appalachia meanwhile co two did trim position but it's still held nearly five million shares of stock of the end of the year so we are anticipating looking at how who is holding still holding facebook and then the next thirteen f filing how other big hedge fund news this week included a firm called bali asni which actually is said to have let go of about ten people what's going on at that firm so badly asni is one of the notable macro hedge funds one by dmitry belly asni and it's seen about ten of its macro managers leave the firm ten employees were cut from its anthem training program so that's a sizable amount of people this program did start in two thousand sixteen for younger managers and they were given small pools of money to invest and since the program started it has made money but it seems like these cuts part of a bigger move the firm is making to employ fewer managers who can run bigger pools of money there one more fund hedge fund that has really kind of cut staff we saw senate al a number of people from the on the unit so are we are kind of looking at where the ships are coming from and macro funds have struggled for a little while so it's definitely something that will be watching closely.