In the wake of mass shootings in Texas and Ohio, the White House is hosting a summit tomorrow about online extremism. Representatives from a number of tech firms will attend, however, President Trump will not. Yahoo Finance's Julie Hyman and Adam Shapiro speak with Katie Joseff with the Institute for the Future about fighting the spread of online extremism.
The ESG mega-trend sent trillions of dollars pouring in last year. But the real boom could be set to take off beginning January 20th
Now's when many investors lament the top stocks they didn't own. But you have a second shot at some if analysts are right.
The Dow Jones rallied as Senate Majority Leader Mitch McConnell blocked a rapid impeachment trial for President Donald Trump. Airbnb stock hit buy zone.
Basic physics, and the evidence of our own eyes, tells us that what goes up must come down. But the NASDAQ is over 13,000, and the S&P 500 is over 3,800, and some market watchers are starting to wonder where the ceiling is. Banking giant JPMorgan investigates that question, seeking to find out just how much room the bulls have left to run in the current market conditions.Looking back to the collapse of Lehman Brothers, and the financial crisis of 2008, the bank’s global markets strategist Nikolaos Panigirtzoglou notes that, among stocks, bonds, and cash, the average equity holding has been 42.3%. He points out that this ‘neutral’ level was breach in November, and equity allocations now are nearer 43.8%.This increase from the average would imply that there may not be much room for stocks to keep going up – except that the post-Lehman equity allocation high, reached in January 2018, was 47.6%. To state the obvious, we’re not there yet. Panigirtzoglou sees the ongoing expansion of the M2 monetary base fueling the stock boom, and insulating it from changes in the bond markets.Against this backdrop, JPMorgan analysts are pounding the table on two stocks in particular, noting that each could surge over 30% in the year ahead. We ran the the two through TipRanks database to see what other Wall Street's analysts have to say about them. ContextLogic (WISH)We will start with ContextLogic, the parent company of Wish.com. This e-commerce marketplace has become known for its social media ads, both for their ubiquitous presence and their entertainment value. Wish has a knack for drawing traffic and customers – it has become the third-largest online retail site it the US, with over 100 million monthly visitors and more than 150 million items listed for sale. The company’s revenue exceeds $2 billion annually.The company's growth is being driven by several factors: the high monthly traffic, the large – and largely untapped – e-commerce customer base of low-income households looking for budget goods, and worldwide network of more than 500 million merchants.WISH ran up a great deal of hype in December, when it held its IPO – and saw the price drop nearly 17% in the first trading day. The offering was priced at $24 per share, but the stock closed its first day trading at $20.05. Even so, the company still raised $1.1 billion in its first day on the market, and currently boasts a market cap of $14.5 billion.Covering the stock for JPM, 5-star analyst Doug Anmuth wrote: "We believe Wish has significant growth potential with current penetration of ~3% of the global target market estimated at 1B+ households, and less than 1% share of the overall $2.1T global mobile commerce market. Wish utilizes data science to drive all aspects of its business from user acquisition to pricing to logistics, which helps the company stay nimble and should drive greater global scale over time. We expect Wish to deliver more consistent 20s%+ growth over the next couple years…”To this end, Anmuth rates WISH an Overweight (i.e. Buy), and his $30 price target implies a 43% upside potential for the next 12 months. (To watch Anmuth’s track record, click here)Wall Street is quite positive on this 'Moderate Buy' stock: WISH has received 8 'buy' and 4 'hold' ratings in the last three months. Running the numbers across the Street, the 12-month average price target lands at $26, representing about 24% upside potential. (See WISH stock analysis on TipRanks)Passage Bio (PASG)The second JPM pick we’re looking at is Passage Bio, a genetic medicines company. Passage is focused on developing treatments for rare, life-threatening, monogenic central nervous system disorders, using an adeno-associated virus delivery system. Monogenic disorders are caused by a mutation or defect in a single gene; the adeno-associated virus system is tailored to deliver a corrected gene directly into affected cells.The company currently has three main drug candidates under development: PBGM01, a treatment for GM1 gangliosidosis; PBFT02, to treat frontotemporal dementia; and PBKR03 as a treatment for Krabbe disease. All three are in the IND-enabling phase of the development cycle, and the company announced earlier this month that PBGM01 has received FDA approval to advance to Phase 1/2 trial. PBFT02 and PBKR03 are both scheduled to initiate Phase 1/2 later in 1H20. The upbeat outlook for Passage’s research program underlies the JPM stance on the stock. 5-star analyst Anupam Rama has upgraded his firm’s rating from Neutral to Overweight and set a price target of $35, indicating a potential ~34% upside on the one-year horizon. (To watch Rama’s track record, click here)Backing his upgrade, Rama notes the FDA clearance on PBGM01 and writes, “[We] expect focus to return to the upcoming GM1 data mid-year, which will represent the key initial clinical catalyst for the company. Based on known pre-clinical data, we would look for the initial PBGM01 GM1 data to not only de-risk the program itself but also the company’s broader platform.”The analyst consensus on PASG is not unanimous, but almost. The Strong Buy consensus rating is supported by 3 Buys against a single Hold. Shares sell for $26.25, and the average price target of $32.83 indicates an upside of ~25%. (See PASG stock analysis on TipRanks)To find good ideas for 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.
"Shark Tank" host Mark Cuban revealed that he has been holding cryptocurrencies for years, without ever diluting the holdings.What Happened: The Dallas Mavericks owner let out multiple tweets on cryptocurrency-related topics Tuesday and revealed that he was a long-term holder of cryptocurrency in a social-media interaction with Gokhshtein Media founder David Gokhshtein.> I don't think people realize I try to test and use all this stuff and have for years. I still have crypto from the early days of coinbase. I've never sold anything> > -- Mark Cuban (@mcuban) January 12, 2021The billionaire touched upon topics ranging from decentralized finance (DeFi), supply and demand, and the cost of cryptocurrency transactions.Cuban had a back and forth with Gemini co-founder Tyler Winklevoss on monetary supply during which the latter brought up the value of Cuban's basketball team.> You are making my point. Supply and Demand is the ONLY thing that values BTC. As far as balance sheets and debasement, we disagree. One of the challenges of sovereign BSs is valuing IP, intangibles and cost based assets. But maybe you can tell me why inflation is minimal ? https://t.co/3ujTVFhlSx> > -- Mark Cuban (@mcuban) January 12, 2021Cuban credited Winklevoss for generating demand for Bitcoin (BTC)."My only mistake on Bitcoin in particular was underestimating your ability, and you get credit for this, to create a narrative and generate demand for it," the billionaire said. "You are the King of Get Long and Get Loud for BTC and that's not a bad thing."Why It Matters: The famed investor joked last week that he would run for the office of president of the United States if BTC hit $1 million.See Also: SPAC King Chamath Palihapitiya On Facebook, Tesla And BitcoinCuban also warned potential investors not to pile on debt to invest in Bitcoin and cautioned there was a 99% chance "you will lose EVERYTHING. Personal disaster stories are built on leverage."Price Action: Bitcoin traded 0.12% lower at $33,707.40 at press time. On Tuesday, Grayscale Bitcoin Trust (OTC: GBTC) closed 4.06% higher at $38.92.Photo by Gage Skidmore on FlickrSee more from Benzinga * Click here for options trades from Benzinga * Unfazed By A Plunging Bitcoin, Proponents Dub Pull-Back 'Necessary,' 'Healthy' * Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Large numbers of American households were forced to plunder their retirement accounts to make ends meet during the last year, even as the federal government plunged trillions of extra taxpayers’ dollars into the economy to keep it afloat. Oh, and the median retirement savings among these upper middle class savers was $189,000—about enough to generate a lifetime annuity income for a 65-year-old couple of $760 a month.
Tesla's Model 3 was the most sold EV in China last year, but BYD's Han made the list less than six months after launching.
U.S. oil and gas producer Chesapeake Energy's Chapter 11 bankruptcy plan was approved by a U.S. judge on Wednesday, giving lenders control of the firm and ending a contentious trial. Once the second-largest U.S. natural gas producer, Chesapeake filed for court protection last June, reeling from overspending on assets and from a sudden decline in demand and prices spurred by the coronavirus pandemic. Creditors who opposed the plan claimed Chesapeake was bankrupt long before it sought court protection and harshly criticized terms that gave backers including mutual fund giant Franklin Advisers Inc. heady returns.
(Bloomberg) -- U.S. officials deliberated but ultimately decided against banning American investment in Alibaba Group Holding Ltd. and Tencent Holdings Ltd., a person familiar with the discussions said, removing a cloud of uncertainty over Asia’s two biggest corporations.The Treasury Department blocked a Pentagon effort to add the two internet firms on grounds they aided the military, the person said, asking not to be identified discussing private talks. Officials also debated blocking search leader Baidu Inc. but dropped the plan, the person added. Alibaba’s Hong Kong stock climbed as much as 3.9% while Tencent rose almost 5% on news of the reprieve, which was first reported by the Wall Street Journal. Their dollar bond spreads tightened Thursday morning.The decision removes uncertainty hanging over Chinese social media and gaming leader Tencent and Alibaba, the e-commerce titan founded by billionaire Jack Ma that’s now under intense regulatory scrutiny by Beijing regulators. President Donald Trump has signed an amended version of his executive order banning investment in Chinese military-linked companies, the White House said in a statement Wednesday that didn’t mention any company by name.Imposing a ban on the pair would have marked the most dramatic escalation yet by the outgoing administration, given the sheer size of the two firms and the difficulty unwinding positions. At more than $1 trillion, their combined market value is nearly twice the size of Spain’s stock market, while the firms together account for about a 10th of the weighting for MSCI Inc.’s emerging markets benchmark.Read more: Alibaba’s Jumbo Bond Deal Goes Quiet With Ma Out of SightCiting national security, Trump previously signed an executive order in November requiring investors to pull out of Chinese companies linked to that nation’s military. The Defense Department will add more companies to the roster, the person said without elaborating.That would further fray the relationship between the world’s two largest economies, which have clashed over everything from Covid-19 to Hong Kong. Authorities in Washington have ramped up efforts to deprive Chinese companies of U.S. capital in the final months of the Trump administration, adding to economic tensions as President-elect Joe Biden prepares to take over this month.Hasty measures have at times sown confusion in markets and prompted price swings, such as when the New York Stock Exchange reversed course twice on a decision to delist three Chinese telecommunications companies. The NYSE is now proceeding with its original delisting plan after U.S. Treasury Secretary Steven Mnuchin disagreed with its decision to give the firms a reprieve.Trump’s order banned trading in affected securities starting Jan. 11. If Biden leaves Trump’s executive order in place, U.S. investment firms and pension funds would be required to sell their holdings in companies linked to the Chinese military by Nov. 11. And if the U.S. determines additional companies have military ties in the future, American investors will be given 60 days from that determination to divest.(Updates with Hong Kong action and chart from the second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Plug Power Inc (NASDAQ: PLUG) shares are primed for further gains, according to H.C. Wainwright, which issued a new Street-high price target for the fuel cell manufacturer.The Plug Power Analyst: Analyst Amit Dayal maintained a Buy rating on Plug Power and increased the price target from $60 to $85.The Plug Power Thesis: Plug Power announced a second major partnership within the span of a week, cementing its position as the leading hydrogen and fuel cell play in the world, Dayal said in a Wednesday note.The company forged a joint venture with Renault ADR (OTC: RNLSY) in France to achieve a 30% share of fuel cell-powered light commercial vehicle market in Europe, the analyst said. The partnership is driven by a favorable regulatory environment for non-ICE adoption in Europe, he said. A revenue contribution of around $10 million will materialize from the venture as early as 2022, with a more meaningful ramp taking place by 2024, Dayal said.Related Link: Option Trader Bets .1M On Plug Power Following South Korea DealH.C. Wainwright raised its net revenue and EBIT estimates for 2024 from $1.7 billion and $347.9 million, respectively, to $1.9 billion and $418.1 million.The contribution from the partnership will increase the company's revenue growth rate to a 10-year CAGR of 50%, the analyst said. "We believe with partners such as SK Group and Renault, the company essentially has state-level backing to accelerate hydrogen and fuel cell commercialization in Asia and Europe." Dayal also sees the possibility of the company entering into similar partnerships with heavy truck OEMs.H.C. Wainwright said it expects hydrogen and fuel cells to take meaningful share of the energy and transportation markets over the next decade, and Plug's lead in the fuel cell and hydrogen space could make it an outsized winner.PLUG Price Action: Plug Power shares were trading 6.26% higher to $70.15 at last check Wednesday. Latest Ratings for PLUG DateFirmActionFromTo Jan 2021HC Wainwright & Co.MaintainsBuy Jan 2021Truist SecuritiesInitiates Coverage OnBuy Jan 2021Canaccord GenuityMaintainsBuy View More Analyst Ratings for PLUG View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Plug Power Rallies On JV Partnership With Renault For Hydrogen-Powered Vehicles In Europe(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The power of Elon Musk has no bounds as seen by the crazy move in Signal Advance stock.
Pat Gelsinger, a 30-year veteran of Intel Corp. who left the company in 2009 after it was clear he would not become CEO, finally got the job.
Indian automaker Mahindra & Mahindra Ltd has cut more than half of the workforce at its North American unit, two sources familiar with the matter told Reuters, due to the COVID-19 pandemic and an ongoing legal tussle. However, one of the sources said "hundreds of workers" had been laid off since mid-2020 as part of a restructuring, and that the cuts were as high as two-thirds of Mahindra Automotive North America's (MANA) total staffing. Positions include engineers and manufacturing jobs at its plant in Detroit that produces the off-road vehicle Roxor, as well as sales executives.
It’s business as usual for Plug Power (PLUG) stock. Following last year’s unseemly market gains, barely two weeks into 2021, shares are already up by a staggering 111%. At this rate, last year’s 956% share haul could yet be surpassed.The latest surge comes after the hydrogen fuel cell maker announced a new partnership to add to its expanding list of collaborations.The company has signed an MOU (memorandum of understanding) with Groupe Renault to jointly develop several vehicle types and infrastructure in the EU. These include light commercial, taxi, and commercial people transportation and hydrogen turn-key solutions, with the 50/50 joint venture expected to kick off in 1H21.Oppenheimer analyst Colin Rusch believes the latest deal further strengthens PLUG’s standing in the Hydrogen industry.“With PLUG announcing another strategic partnership today, we believe the company has quickly become a global company servicing three continents and positioning itself as a critical enabler of the hydrogen economy,” the 5-star analyst said. “In working with Renault PLUG now is partnered with the No. 2 play in Europe for light commercial vehicles. We also note Renault's ownership position in Nissan and Mitsubishi as potential avenues for PLUG to expand its vehicle opportunity.”Rusch anticipates the initial delivery of vehicles will begin late this year or early 2022 with a “goal of reaching as many as 500K vehicles by 2030.”PLUG’s business has expanded to include most vehicle types, and Rusch notes that Class 8 trucks remain one area in transportation to which PLUG now lacks “significant exposure.”“We would not be surprised to see the company target this segment with another partnership,” the analyst summed up.Following the news, Rusch reiterated an Outperform (i.e. Buy) rating on PLUG shares. (To watch Rusch’s track record, click here)The Street’s current assessment of PLUG presents an interesting conundrum. While 10 Buy ratings add up to a unanimous Strong Buy consensus rating, the average price target tells a rather disconnected story. At $47.78, shares are poised to tumble nearly 33%, should it be met over the next 12 months. It will be interesting to see how much battery power there will be left to push shares higher after the recent surge. (See PLUG stock analysis on TipRanks)To find good ideas for 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
This mother asks, ‘What can he do to help maximize the money he has saved? And how should I invest the money he is giving me?’
The outlook for bitcoin would still be bright if banking veteran Gary Gensler is appointed the next chief of the U.S. Securities and Exchange Commission, argues bitcoin bull Mike Novogratz.
There's plenty of upside to these 10 cheap stocks.As the new year kicks off, it's the perfect time for investors to restock their portfolios.
Affirm raised $1.2 billion with an initial public offering that priced well above expectations and received a fully diluted valuation of about $15 billion. Shares jumped as trading began.
Risk and reward often travel hand-in-hand, making the stock market both lucrative and dangerous. Among the best exemplars of this axiom are the penny stocks, those equities priced at $5 or less. With that low price comes the potential for extreme gains, as even an incrementally small price increase will translate to a high percentage gain.JPMorgan's Head of Small and Midcap Equity Strategy, Eduardo Lecubarri, sees both the opportunities and dangers in the current market environment – and the great potential of small-cap stocks that have room to run.“1Q may be rocky following the strong gains since Nov and the fact that valuations are sitting on all-time highs. However, the year long outlook is encouraging due to far more powerful fundamental tailwinds. Such a positive backdrop is likely to keep investors chasing those few stocks that still offer big recovery upside, as they seem to have started to do YTD. It is for this reason that we would encourage investors to build their portfolios now and see things through in the event of any consolidation phase that may come in Q1,” Lecubarri wrote.Taking the risk into consideration, we used TipRanks’ database to find compelling penny stocks with bargain price tags. The platform steered us towards two tickers sporting “Strong Buy” consensus ratings from the analyst community. Not to mention substantial upside potential is on the table. We are talking returns of at least 300% over the next 12 months, according to the analysts.AcelRx Pharmaceuticals (ACRX)Opioids have made headlines in recent years, and for all the wrong reasons. These potent pain relief drugs are also dangerously addictive – a factor that has led to the opioid epidemic in the US. AcelRx is a pharmaceutical company dedicated to the creation of safer treatments for acute pain, developing synthetic opioid drugs for sublingual (under the tongue) dosing.The company’s main product, Sufentanil, was approved by the FDA under the name Dsuvia in 2018, and by the EU as Dzuveo that same year. A second sublingual Sufentanil system, under the name Zalviso, has also been approved for use by the EU, and is in Phase 3 trial in the US.In its most recent earning report, the company showed $1.4 million at the top line, driven by $1.3 million in product sales. The sales figure was up 433% sequentially, and the total revenue figure was up 133% year-over-year.Against this backdrop, several members of the Street believe ACRX’s $1.40 share price looks like a steal.Cantor analyst Brandon Folkes is upbeat on Dsuvia’s prospects as an alternative to current opioid treatments, and he believes that potential will boost the company’s stock.“With the launch of Dsuvia, we believe investor focus can now shift to launch metrics and peak sales potential for the product. As ACRX launches a true alternative to IV opioids, we expect investors to begin to appreciate the value of the product. We believe that Dsuvia offers an advancement in delivery of adequate pain treatment by eliminating the need for an invasive and time-consuming IV set-up in the emergency room, as well as an outpatient, or post-surgery, setting. Despite hospital launches taking time, we expect the uptake of Dsuvia to drive revenue upside beyond the Street's current estimates, which, in turn, could drive the stock higher from current levels,” Follked opined.In line with his bullish stance, Folkes rates ACRX a Buy, and his $9 price target implies room for a stunning 552% upside potential in the next 12 months. (To watch Folkes’ track record, click here)Turning now to the rest of the Street, 3 Buys and no Holds or Sells have been published in the last three months. Therefore, ACRX has a Strong Buy consensus rating. Based on the $7 average price target, shares could soar 407% in the next year. (See ACRX stock analysis on TipRanks)NuCana (NCNA)NuCana is a biopharma company focused on new cancer treatments. The company’s goal is to provide effective treatments for biliary, breast, colorectal, ovarian, and pancreatic cancers – while avoiding the complications and side effects of current chemotherapy treatments. NuCana uses a phosphoramidate chemistry technology called ProTide to create a class of drugs that will surmount the limitations of the existing nucleotide analogs behind many chemotherapy drugs. NuCana’s ProTides have already been used in Gilead’s antiviral drug Sovaldi.In May of last year, NuCana announced the restart of its Phase III trial on Acelarin, the drug candidate furthest along the company’s pipeline, as a treatment for biliary tract cancers. The study encompasses over 800 patients in 6 countries and is currently ongoing. In November, the company published data described as ‘encouraging’ from the Phase Ib study of the same drug.While Acelarin is the flagship drug in the pipeline, NuCana has two other prospects under development. NUC-3373 is in Phase I trial as a treatment for solid tumors and colorectal cancers, and NUC-7738 is a second pathway under investigation for applications to advanced solid tumors. Of these three, the colorectal study is the farthest advanced.Writing from Truist, 5-star analyst Robyn Karnauskas sees the pipeline as key to NuCana’s investor potential.“We believe investors have overlooked the fact that NCNA is a platform Company that we believe is validated, as defined by the production of clinical products. We like that it has brought 3 products to the clinic, including one novel drug and two improved cornerstone chemos. The data suggest to us that the platform works and can produce better chemos […] While investors are mostly focused on Acelarin, we believe investors should also focus on NUC-3373, another core to our platform-based thesis that has data expected in 1H2021,” Karnauskas noted.To this end, Karnauskas puts a $22 price target on NCNA, suggesting the stock has room for 384% growth ahead of it, along with a Buy rating. (To watch Karnauskas’ track record, click here)Overall, NCNA's Strong Buy consensus rating is unanimous, and based on 4 recent reviews. Shares have an average price target of $17.33, suggesting a 270% one-year upside from the current trading price of $4.69. (See NCNA stock analysis on TipRanks)To find good ideas for penny 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.
Estate planning goes beyond drafting a will. Use this pre-death checklist to account for your assets and ensure they are dispersed as you wish,
Yahoo Finance