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
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
Foreign Companies welcome. US Tax dodgers that didn’t qualify in the US, no problem. By Nick Corbishley, for WOLF STREET: The Bank of England (BoE) published a list of the 53 companies to whom it has lent more than £16 billion, at absurdly low rates, as part of its Coronavirus Corporate Financing Facility (CCFF). Launched on March… Read More
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
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
In many situations I’ve argued that police were right when violently taking down Black men. Looking closely at videos in those cases, I could see each time that Black criminals were resisting arrest in ways that I know would get me hurt as a White man. I have no doubt about it, and would not… Read More
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
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
We know what you’re thinking: Isn’t this just another “Spanish porn star arrested on manslaughter charges after inhaling psychedelic toad venom” story? It seems like they are just a dime a dozen nowadays. But such is life: the latest case comes from Madrid, where a porn star named “Nacho Vidal” (of course) was arrested not only on… Read More
Market worrying about a phenomenon much worse than stagflation? By Wolf Richter for WOLF STREET. The 30-year Treasury yield has been rising for six days in a row, closing on Thursday at 1.61%, up from 1.41% on May 29, and up from 1.17% on April 20, and the highest since March 19, when the Fed was unleashing its… Read More
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