Nov.13 -- Aaron Levie, Box Inc. chairman, co-founder and chief executive officer, says America needs to stay competitive under a Joe Biden administration. He talks on "Bloomberg Technology."
Nov.13 -- Aaron Levie, Box Inc. chairman, co-founder and chief executive officer, says America needs to stay competitive under a Joe Biden administration. He talks on "Bloomberg Technology."
Following the wild ride that was 2020, where does the market go from here? Major strides have been made in the COVID-19 vaccine race, yet the near-term picture remains unclear, blurred by the virus’ resurgence and the stimulus stalemate on Capitol Hill.In times like these, the investing greats can serve as a source of inspiration, namely billionaire Israel “Izzy” Englander.Who exactly is Englander? The legend, who started trading stocks when he was in high school, began his career interning at investment firm Oppenheimer, later going on to purchase a seat on the American Stock Exchange, where he would serve as a floor broker, trader and specialist.In 1989, along with Ronald Shear, Englander founded hedge fund Millennium Management. As evidence of his stellar track record, the guru took the $35 million the fund was started with and turned it into over $40 billion in assets under management. With his personal net worth clocking in at $7.2 billion, it’s no wonder Wall Street pays attention when Englander makes a move.Bearing this in mind, our focus shifted to Millenium’s most recent 13F filing, which discloses the stocks the fund snapped up in the third quarter. Locking in on two tickers in particular, TipRanks’ database revealed that both names score a “Strong Buy” analyst consensus. What’s more, the analyst community sees massive upside potential in store for each.G1 Therapeutics (GTHX)Bringing a deep understanding of the biology of cancer and extensive drug discovery experience to the table, G1 Therapeutics works to develop therapies that could potentially improve the lives of patients battling the deadly disease. Ahead of a key regulatory decision, the Street is pounding the table on this name.During the third quarter, Englander and Millennium picked up a new stake in GTHX. Pulling the trigger on 555,937 shares, the value of the holding comes in at $6,421,000.Turning to the analyst community, Needham’s Chad Messer tells clients that he has high hopes ahead of the February 15 PDUFA date for trilaciclib, its therapy designed to improve outcomes for cancer patients treated with chemotherapy. The therapy’s NDA was accepted in August for Priority Review based on results from three randomized clinical studies in small cell lung cancer (SCLC), with the FDA indicating that it doesn’t plan on holding an advisory committee (AdComm) meeting.As trilaciclib is the first CDK4/6 inhibitor to be used to treat chemo-induced bone marrow toxicity, Messer argues that the lack of an AdComm is “meaningful.” Expounding on this, he stated, “We believe this reflects the agency's appreciation of the unmet need, comfort with the safety profile of the CDK4/6 class, and efficacy profile of trilaciclib.”GTHX will also focus on the inclusion of trilaciclib into NCCN guidelines. It should also be noted that a Phase 3 pivotal study evaluating the candidate in metastatic colorectal cancer (mCRC) is set to kick off by year end.Adding to the good news, GTHX and its partner, Boehringer Ingelheim, are preparing for the commercial launch of trilaciclib, with the companies covering approximately 2,500 treating oncologists and providing educational materials regarding the use of trilaciclib ahead of treatment and the benefits of multi-lineage preservation.If that wasn’t enough, the rintodestrant (its selective estrogen receptor degrader (SERD) in development for the treatment of estrogen receptor-positive (ER+) breast cancer) plus palbociclib combination study was able to wrap up enrollment earlier than expected, reflecting “the appeal of an all-oral treatment regimen during a global pandemic,” in Messer’s opinion. With a data readout slated for Q2 2021, the analyst believes a “positive readout could prove to be a significant value driver.”In line with his optimistic approach, Messer reiterated a Buy rating and $74 price target, indicating 417% upside potential. (To watch Messer’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 3 to be exact, have been issued in the last three months. Therefore, the message is clear: GTHX is a Strong Buy. Given the $59 average price target, shares could rise 312% in the next year. (See GTHX stock analysis on TipRanks)Epizyme (EPZM)Also fighting the good fight against cancer, as well as against other serious diseases, Epizyme wants to find new treatments through novel epigenetic medicines. Even though the company faces headwinds with regard to its recent product launch, several members of the Street believe big things are in store.Millenium purchased 461,258 shares during the third quarter, with the buy reflecting a new position for the hedge fund. As for the value of the holding, it lands at $5,503,000.Writing for Wedbush, 5-star analyst David Nierengarten points out that the pandemic has limited oncologist visits, and therefore, Tazverik (the company's follicular lymphoma treatment) sales were lower than he expected. He points out that “the pandemic shifts the launch curve to an ‘incidence model’ rather than a prevalence model, as there is a limited patient pool to draw from if they are delaying office visits,” with patients waiting to seek treatment until they experience symptoms of progression.Additionally, although the launch is virtual and physician awareness is high, physicians are opposed to prescribing a new medication without examining the patient in person. That being said, Nierengarten remains optimistic about the therapy.“Despite these headwinds, Tazverik came close to meeting our estimates, and it is gaining market share, including seeing initial sales in second line. We expect more meaningful second line sales to begin in 2021, and have more gradually incorporated them into our launch curve,” the analyst explained.When it comes to the time on therapy, Nierengarten argues it’s too early to come to any conclusions. However, he highlights the fact that durability of response was relatively long and patients were treated past progression in the registration study. “Furthermore, the headwind against switching therapies turns into a tailwind of Tazverik maintenance once a patient is on therapy. This will likely contribute more meaningfully to 2H21 revenues and potential revenue outperformance,” he added.Summing it all up, Nierengarten commented, “At current levels, we believe investors are too negative on Tazverik’s potential and patience should be rewarded.”Based on all of the above, Nierengarten sides with the bulls, reiterating an Outperform rating and $27 price target. This target conveys his confidence in EPZM’s ability to climb 122% higher in the next year. (To watch Nierengarten’s track record, click here)Most other analysts echo Nierengarten’s sentiment. 3 Buys and 1 Hold add up to a Strong Buy consensus rating. With an average price target of $23.25, the upside potential comes in at 91%. (See EPZM stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
I have read a few of your HelpMeRetire inquiries, and I have a situation that I can’t seem to find much information about when I read retirement planning guides. I am 60 years old, and my spouse is 45. Our living expenses aren’t extravagant, but we do like to travel.
The year is coming to an end, and bullish news is mounting for the energy industry, presenting an array of juicy deals to watch this holiday season
The stock market is looking robust, but also showing some signs of excessive bullishness. Moderna will seek FDA OK for its coronavirus vaccine. Apple leads four key names to watch.
Wall Street is bracing for Tesla Inc's (NASDAQ: TSLA) arrival to the S&P 500 Index on Dec. 18.What Happened: The addition of the California-based automaker is expected to create challenges because of the company's size, $555 billion, and volatility. Tesla's share price jumped 40% right after the S&P 500 announcement on Nov. 16, and the addition comes at a time of pandemic-related volatility, the Wall Street Journal reports. Tesla is the biggest company to ever join the index, and it'll be the sixth largest by market capitalization. Elon Musk's company might put $100 billion "in motion" when added, as funds try to sell other companies' stock to buy Tesla's, according to WSJ.To help ease the potential trading chaos, some Wall Street managers recommend splitting the addition "over two trading days," something that has never happened before, WSJ notes.Ben Inker, who manages asset allocation at investment manager GMO believes any unpreparedness might have consequences. "The people who will pay the price if S&P screws up are the investors in passive S&P," he says.Why It Matters: Tesla's addition to the S&P 500 also happens the same day the so-called "quadruple witching" takes place. Every last Friday of the quarter marks the day when futures and options expire at the same time, which increases the volume.This, investors say, might help with the liquidity that day but may also increase market volatility. Price Action: Tesla shares traded 0.17% lower at $584.77 in the after-hours markets on Friday.Photo courtesy of UnsplashSee more from Benzinga * Click here for options trades from Benzinga * Guggenheim Fund Mulls Investment in Grayscale Bitcoin Trust * Bloomberg Releases Its 2020 List Of Wealthiest Families In Asia(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
South Korea’s sovereign-wealth fund sold Alibaba, Apple, and Intel stock in the third quarter. It also more than doubled a position in GM stock, a move that is paying off so far in the fourth quarter.
The so-called “universal charitable deduction” allows non-itemizers to claim a tax break of up to $300 when they file their taxes in 2021. Charitable donations are tax deductible, but taxpayers can only claim the deduction on their federal income taxes if they’re itemize the expenses that are eligible for deductions. Along with charitable donations, these expenses include medical expenses, mortgage interest and state and local taxes (up to $10,000).
A home loan is a powerful financial tool, even if you have the cash to pay outright.
The advancements with COVID-19 vaccines of Pfizer Inc. (NYSE: PFE), Moderna Inc. (NASDAQ: MRNA), and AstraZeneca Inc. (NASDAQ: AZN), along with a resurgence of stock market indices like the Dow Jones Industrial Average and S&P 500, hints at a relatively stable outlook for the next year compared to 2020.Top Wall Street analysts, based on TipRanks ratings, see these four stocks as winning plays as markets brace for the last month of what has been a turbulent year, as first reported by CNBC.Repay Holdings Corp (NASDAQ: RPAY): Last Week, Northland Capital analyst Micheal Grondahl recommended the Atlanta-headquartered payment processing company as a Buy with a price target of $28, a 16.67% upside potential at the time.CNBC cited Grondahl's comments that the company's continued expansion into new key verticals could play an integral role in driving strong financial results -- the auto loan business for used cars as well as the mortgages and refinancing segment backed by the recently-acquired subsidiary Ventanex, for instance.According to TipRanks statistics, Grondahl's calls on Repay have returned profits eight out of 12 times.After a 0.44% dip during Friday's trading hours, RPAY sank 9.17% in the extended trading hours at $21.80.Autodesk Inc (NASDAQ: ADSK): Based on the positive earnings release for the September quarter, Oppenheimer analyst Koji Ikeda recommends Autodesk as a Buy. Ikeda has set a $300 price target with an 11% upside potential on the stock."We believe Autodesk is well-positioned during and post-pandemic to disrupt the future digitization opportunity in the construction and manufacturing industries that should enable the business to achieve its FY2023 financial targets," the Oppenheimer analyst said, as reported by CNBC. According to TipRanks, Ikeda has an over 93% success rate based on 110 ratings, and the calls on Autodesk stock returned profits twelve out of thirteen times.ADSK shares were last seen quoting $273.90, 0.40% higher, at the end of Friday's extended trading session.Anaplan Inc (NYSE: PLAN) With a Buy recommendation and a 21% upside potential, Needham & Company's Scott Berg revised the price target for the cloud-based business planning software company to $85 last week. "[Anaplan] was historically a fairly heavy in-person sale, thus a return to travel/in-person meetings could significantly benefit the company," Berg commented, according to CNBC. Berg added that ongoing partner investments could revive sales once the lockdown measures are scrapped.During Friday after-hours, PLAN stock was seen quoting 1.66% higher at $69.95 per share.Karyopharm Therapeutics Inc (NASDAQ: KPTI) With last week's Buy recommendation for Karyopharm, H.C. Wainwright analyst Edward White set a price target of $41 with a 166.41% upside potential.White relied on Karyopharm's Phase 3 SIENDO study of Xpovio for treating patients with endometrial cancer proceeding as per schedule. Topline estimates of the trials are expected sometime in the second half of next year.White believes that Xpovio sales from dedifferentiated liposarcoma are projected at close to $26 million in 2026, from the estimated $3 million in 2022, CNBC reported.See Also: Wall Street Analysts Say These 5 Stocks Are A Buy As The World Prepares For The Post-COVID-19 EraLatest Ratings for RPAY DateFirmActionFromTo Oct 2020Morgan StanleyInitiates Coverage OnEqual-Weight Sep 2020BarclaysInitiates Coverage OnOverweight Jun 2020Credit SuisseMaintainsOutperform View More Analyst Ratings for RPAY View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Airbnb, DoorDash Reportedly Up IPO Valuation Target By B Each * China Tech Companies To Remain 'Very Much A Growth Play' Even Post-COVID-19, Says Credit Suisse(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
President-elect Joe Biden wants to help Americans save for their golden years by expanding access to retirement savings plans, strengthening Social Security, and making health care more affordable.
You can inherit an IRA tax-free, but you could be hit with a 50% penalty if you don't follow the rules for required minimum distributions (RMDs).
Mohamed El-Erian, president of Queens' College University and economic adviser to Allianz, isn't so sure the bull run will last and he explained why in a recent interview.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
(Bloomberg) -- Investors shuffling trades amid a sputtering reflation narrative may have overlooked a little fact: Bond managers who’ve been bullish on inflation prospects this year have been winning.Inflation-linked U.S. Treasuries -- known as TIPS -- are on pace to outperform their regular counterparts for the second straight year, and some of the world’s biggest investors see scope for further gains. Vanguard Group Inc., which reaped profits on inflation-protected bonds it bought in March when the outlook was at its most dire, is looking for a re-entry point. And both BlackRock Inc. and Ardea Investment Management are wagering that the market is underestimating gains in consumer prices over the next few decades.The triumph of TIPS is more than a little ironic, given the absence of a significant acceleration in inflation this year. Even after roaring back from an 11-year low when the pandemic shuttered the world in March, expectations for price pressures remain relatively tame. But with vaccine hopes now building, some investors see these securities as a cheap way to bet on a rejuvenated global economy. The added impetus is that this is a category of debt that typically offers outsized gains when yields are stable or falling.“TIPS perform best in a modest growth and rising-inflation-expectations environment, which is right where we are now,” said Elaine Kan, who co-manages Loomis Sayles & Co.’s Inflation Protected Securities Fund. “And nominal yields aren’t likely to go much higher at least for the next few months, which is a positive for those investing in TIPS -- who also will benefit from the inflation protection if expectations go up more.”No BottomThe Federal Reserve somewhat put a floor under so-called nominal yields when signaling that it doesn’t want to push policy rates below zero, and may have limited the prospects for additional gains in Treasuries. Not so with TIPS, where yields can, and do, go negative; the 10-year U.S. maturity currently yields around minus 0.93%.To be clear, that means investors are basically paying to hold this debt on the assumption they get a windfall as inflation rebounds -- not a strategy for everyone. But like nominal Treasuries, TIPS benefit from demand for havens, and the additional potential for yields to decline opens up the door to greater price appreciation.Further adding to their appeal is the longer duration that these securities generally have compared to their nominal counterparts, meaning they tend to deliver larger price gains when rates are steady or declining as they are now. TIPS have proved a stellar bet this year, earning 9.3% compared with 8% for regular Treasuries, according to Bloomberg Barclays index data.Still, while the bond market’s main measure of inflation expectations -- dubbed the breakeven rate -- has bounced back to where it was at the start of 2020 thanks to the Fed’s ultra-loose policy and massive government stimulus, doubts remain about the Fed’s ability to boost it further and achieve its 2% target for annual growth in consumer prices. The breakeven rate is the CPI level needed over life of the security for the TIPS holders’ return to roughly match that similar nominal Treasury.‘Asymmetric Opportunity’For Ardea Investment, it boils down to a risk-reward tradeoff. Inflation may not be about to suddenly lurch higher, but the firm sees more bang for the buck in betting on an upside surprise when the market is so skewed toward inflation staying low for a long time.This offers what Gopi Karunakaran, co-chief investment officer at Ardea, called an “asymmetric opportunity.” The limited supply of inflation bonds also helps, he said.“One of the biggest themes over the past decade is that we’ve been entrenched for such a long time in this world of low inflation and low inflation expectations,” Karunakaran said. “Few people are prepared for that upside surprise.”It’s hard to blame the naysayers, given how stubbornly low inflation levels have persisted for years in the world’s largest economy. The Fed’s preferred measure of inflation has been below its target for most of the last five years.And even for inflation believers, TIPS have their drawbacks, having only been around since 1997, and remaining relatively illiquid versus nominals. TIPS were among the hardest to trade government securities as the pandemic roiled markets in March, in part because they account for just $1.5 trillion of the $20.4 trillion Treasuries universe and tend to be favored by long-term buy-and-hold investors.But the narrative may start to change should distribution of a vaccine begin, according to Mark Nash, head of fixed-income alternatives at Jupiter Asset Management.“We are still into inflation bonds in a big way,” he said. “If you have a Q1 rollout for the vaccine, and central banks as well as governments staying generous with their policies, then boom, we’ll get some confidence back. These bonds will be a must-own when things clear up.”Headwinds AboundNot everyone shares that view. There are immediate headwinds to consider, with surging coronavirus cases spurring another round of lockdowns in many countries, millions of people still out of work and a range of pandemic-relief programs set to expire in the U.S.For Jason Bloom, a global strategist at Invesco Advisers, the market is ahead of itself in expecting stronger growth right away.“You likely wouldn’t start to see economic activity pick up to the point of generating inflation until we get into the end of 2022,” he said. “The vaccine news absolutely didn’t change anything regarding our inflation outlook.”Winning BetsThose investors who are convinced the stage is set for the next step in the economic recovery are sticking with their winning bets.Gemma Wright-Casparius, a senior portfolio manager at Vanguard, which oversees about $6.2 trillion, scaled back TIPS wagers last quarter after the rebound in breakevens. She expects to add more ahead.“We’re looking for opportunities to re-engage because we do think the vaccine is a game changer,” she said. “Depending on how widespread its adoption and durability is in terms of immunity, we could close the output gap faster than is now expected.”Inflation expectations got a jolt this year from the Fed’s pledge to keep supporting the economy until inflation measures are consistent with an average of 2% over time. And with talks over additional fiscal stimulus stalled out, most see the Fed doing more, even as soon as December.Bob Miller, head of Americas fundamental fixed income at BlackRock, which manages over $7 trillion as the world’s biggest asset manager, says the firm came into the year long TIPS, in the 5- to 10-year sector, and added more when the securities got crushed during the March-April period.Miller helps oversee the Total Return Fund, which has gained 8% this year to beat about 80% of its peers, according to data compiled by Bloomberg. He took profits on intermediate-maturity TIPS and is now long the 30-year security.The 30-year breakeven at about 1.89% signals too much pessimism for Miller. That’s because TIPS are tied to consumer prices, and CPI has historically exceeded the inflation gauge the Fed targets by about 40 basis points. So the current breakeven rate implies the Fed will miss its 2% target by about half a percentage point on average over the next 30 years. As Miller sees it, such a big miss seems unlikely.“I share some modest skepticism about the Fed’s ability to pin the tail on the donkey at 2% for a long period of time,” he said. “But I would not underestimate their willingness to try.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Does buying gold stocks, or betting on the gold price, make sense, despite vaccine progress and 2020 election results? Here are some things to consider.
After a prolonged bear market, commodities reached a major inflection point in 2020. In response to the global pandemic, governments began unprecedented money creation. Ultimately, I believe this will lead to a decade of sharply higher inflation and a 10-year bull market in precious metals.
The 90-year-old billionaire is taking advantage of low interest rates. You should, too.
The investment board of Wisconsin’s state pension sold Bank of America, Wells Fargo, and Exxon stock in the third quarter. It bought JPMorgan stock.
(Bloomberg) -- The Covid-19 pandemic and stay-at-home orders have prompted many to re-think their relationships. In the case of industrial distributor HD Supply Holdings Inc., lock-down restrictions pushed it back into the arms of Home Depot Inc. 13 years after the two divorced.The $8.7 billion acquisition propelled North American building materials deals to an all-time high of $15.2 billion, and several more transactions are expected before the year ends. The previous record of $10.27 billion was set in 2007 at the peak of the pre-crash housing boom, according to data compiled by Bloomberg.The deal announced this month reverses Home Depot’s 2007 sale of HD Supply to a group of buyout firms and gives the Atlanta-based chain -- already with legions of do-it-yourself customers -- greater access to professional contractors. Business in both categories has been buoyed by families decamping from cities to buy larger homes in suburban and exurban areas, as well as by remodel projects to accommodate work-from-home living.“Typically building products investors are skeptical of deals in adjacent markets, and most of the high-profile adjacent transactions have received, at best, mixed reviews from the street,” Matt McClure, managing director and global co-head of industrials at Goldman Sachs Group Inc., said in an interview. “However, in the current environment, adjacent deals have been well received.”More than 50 million homes in the U.S. are more than two decades old, according to the research company Statista. A shift toward suburban living by millennials, now the largest segment of the population, is set to create a multi-year cycle of increased dealmaking in the sector as homeowners embark on bathroom and kitchen remodels and other large projects, in addition to the smaller, cosmetic fixes required by aging structures.“We’re seeing the largest volume of consumer-facing building products deals in at least a decade, with momentum that we expect to carry on well into next year,” Frank Sellman, managing director at Moelis & Co., said in an interview. “Quarantine demonstrated the benefits of larger, single family homes with extra space at a time when America’s largest demographic is beginning to form families.”Home Depot follows in the footsteps of Builders FirstSource Inc. and BMC Stock Holdings Inc., which announced an all-stock merger in August in a deal valued at $2.46 billion. That deal will create one of the largest suppliers in North America, with $11 billion in combined revenue, generated across more than 500 sites, according to a statement.Clearlake, DimoraFinancial sponsors are looking for opportunities for consolidation to create scale amid the surge, too. Clearlake Capital Group agreed to buy Dimora Brands from the Jordan Co. last week, after buying Primesource from Platinum Equity earlier this month. Clearlake co-founder and managing partner José E. Feliciano and partner Colin Leonard said in a statement that they would “continue executing a consolidation strategy in this highly fragmented market.”A representative for Clearlake declined to comment beyond the statement as to whether it intended combine Primesource and Dimora or execute separate buy-and-build strategies.More opportunities for expansion are possible with transactions that could be completed this year. They include Specialty Building Products and Hillman Group Inc. being sold by buyout firms Madison Dearborn Partners and CCMP Capital respectively, according to people familiar with those situations. Such deals, which would add another $3 billion to the year’s total, are becoming more expensive for buyers.“Branded building products that consumers care about are outperforming,” said McClure, whose team advised HD Supply on deal with Home Depot.Azek UpliftThe uplift in valuations was reflected in Azek Co. being taken public in June by Ares Capital Management and Ontario Teachers’ Pension Plan Board. Azek had posted a loss of $5.8 million for the six months ending March 31 and had a debt load of more than $1 billion. Still, it upsized its initial public offering and priced the shares above the marketed range to raise $879 million including so-called greenshoe shares.The Chicago-based company’s opening valuation of 19 times forward earnings already made it an outlier in industrial listings. With its shares up 49% month since the IPO, Azek has been touching highs close to 30 times forward earnings, according to data compiled by Bloomberg.Fortune Brands Home & Security Inc. and Masco Corp., two publicly traded peers, are also getting valuation premiums relative to historical averages.Suppliers focused on the commercial sector are witnessing the inverse of the exuberance for the residential market.Commercial Unclear“The lack of clarity regarding the mix of office against working from home has deterred investment in new building and large scale renovation of office and retail units,” Moelis’s Sellman said.Few commercial deals are expected in the near term, with only those assets viewed as best in class, such as Firestone Building Products, expected to trade hands.Residential construction-oriented assets will continue to be an investment focus, said Rocque Lipford, JPMorgan Chase & Co.’s global co-head of basic materials whose team represented Home Depot on the HD Supply deal.“There is some chance future repair and remodel spending was pulled forward into 2020 but it’s likely the increased demand for single family homes is here to stay into 2021,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of China Automotive Systems Inc. shot up 21% in premarket trading Monday, after the Wuhan, China-based company said so far this yaer it has shipped about 120,000 of its electric power-steering products for use in electric vehicles made in China. The company said it expects to sell over 140,000 units of its steering products this year, and about 200,000 units next year. Among the electric vehicle makers the company sells to are SUV and truck maker Great Wall Motors, state-owned auto maker Chery Automobile, Beijing Auto, JAC Motors and Dongfeng Auto and Hozon Auto. China Automotive noted that sales of China-made EVs about doubled from a year ago to 144,000 units in October, and China's government has set and EV car target of 25% of all new cars by 2025. China Automotive's stock has run up 43.5% over the past three months through Friday, while the iShares MSCI China ETF has gained 6.7% and the S&P 500 has edged up 3.7%.