Tesla Trades Over $1,000 For The First Time

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Tesla shares breached the $1,000 threshold in intraday trading for the first time on Wednesday, after: a week of Jim Cramer pumping Ron Baron’s appearance on CNBC, where he said the company’s stock could 10x from here mysterious call option purchases that we pointed out last month four workers at Tesla testing positive for coronavirus… Read More

Recession Is Official – And Might Be Over Already

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Perfect Headlines This market has seen an unbelievable combination of headlines. We had bankrupt stocks skyrocketing which led to the headline that Chesapeake stock rose triple digits which was followed by the headline that it filed for bankruptcy. Similarly, the S&P 500 went positive on the year on the same day the NBER announced the… Read More

I Believe in the Stupidity of the Stock Market

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I believe in it in the sense that I believe it will stupidly become even stupider for a short time. So, I’m putting money back into stocks in order to bet on stupid, not because I believe in a phantom V-shaped recovery, but because I constantly hear plenty of people do believe in the “V.”… Read More

Scottie Resources Closes Private Placement with Swiss Family Office

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, June 08, 2020 (GLOBE NEWSWIRE) — Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT) is pleased to announce that it has closed its previously announced non-brokered private placement offering of units (the “Units”) with a Swiss… Read More

Crude Steel Production: China Blows the Doors off Rest of the World During Pandemic After Already Huge Surge in 2019

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World steel production monthly 2020 04

Never let a good crisis go to waste. US production, 4th in the world, plunged 32% in April. India’s production, normally in 2nd place, collapsed 64%. By Wolf Richter for WOLF STREET. Global production of crude steel – ingots, semi-finished products (billets, blooms, slabs), and liquid steel for castings – dropped 13% in April compared to April last… Read More

Opiant Pharmaceuticals Statement on U.S. District Court Decision

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SANTA MONICA, Calif., June 05, 2020 (GLOBE NEWSWIRE) — Today, the U.S. District Court for the District of New Jersey entered a decision in the patent litigation regarding NARCAN® (naloxone HCl) Nasal Spray 4mg/spray product. The Court ruled in favor of the Defendants, Teva Pharmaceuticals Industries Ltd. Opiant’s commercial partner Emergent BioSolutions, intends to appeal… Read More

CMBS Delinquency Rate Spikes by Most on Record

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us CMBS delinquency rate 2020 05

Commercial Mortgage-Backed Securities backed by hotel and mall properties get hit the hardest. Mall-REIT CBL failed to make bond interest payment yesterday. By Wolf Richter for WOLF STREET. The delinquency rate for commercial mortgage-backed securities (CMBS) spiked from 2.29% in April to 7.15% in May by loan balance, according to Trepp today, which tracks securitized mortgages for institutional… Read More