Month: August 2020

(Bloomberg Opinion) — When finance types talk about internal combustion engines, they often just use the abbreviation ICE. It’s an appropriate name: Investors have a frosty view of car companies that depend on petrol or diesel to power their vehicles.Volkswagen AG, the world’s biggest auto maker by sales, has a market value of 73 billion euros ($87 billion), or about 6.5 times the earnings it generated last year. By contrast, Tesla Inc.’s all-electric lineup has propelled it to an astonishing $352 billion valuation even though its profits are tiny. Budding Teslas such as Rivian Automotive Inc. and Nikola Corp. have …read more […]

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(Bloomberg) — A British fund that has grown more than seven times faster than peers this year has one big bet to thank.Scottish Mortgage Investment Trust Plc’s holding of 1.87 million shares in Tesla Inc. has increased in value by more than $2 billion since the end of March as the electric carmaker’s stock price has surged to a record. That, along with investments in other U.S. tech giants and stay-at-home winners, means the fund has provided a year-to-date return of 55% versus 7.1% for its peer group, according to data compiled by Bloomberg.The growth of the closed-end investment fund …read more […]

Oracle’s chairman Larry Ellison is a supporter of the US president and held a fundraiser for him this year. …read more […]

Gilead Sciences, Inc (NASDAQ: GILD) shares took a jolt in the after-hours session Tuesday as it announced its application for filgotinib, an investigational treatment for moderately to severely active rheumatoid arthritis (RA) didn’t get the go-ahead from the United States Food and Drug Administration.What Happened: The biopharmaceutical company received a complete response letter (CRL) from the FDA that said the review cycle for an application is complete and that the application isn’t ready for approval in its present form.Gilead is the market authorization holder for filgotinib in the U.S. as well as for the potential commercialization of the drug in …read more […]

The U.S. economy is in one of the sharpest economic downturns since the Great Depression yet the stock market reached a new record high. Here’s why. …read more […]

Spot gold was down 0.4% at $1,993.34 per ounce by 0505 GMT, after hitting a one-week high of $2,014.97 on Tuesday. U.S. gold futures fell 0.5% to $2,002.40. “Gold has registered a 3% gain over the past two days, rendering the metal prices vulnerable to profit-taking activities.” …read more […]

(Bloomberg) — The future of China’s largest artificial intelligence company was thrown into question last year when it was blacklisted by the Trump administration. Today, SenseTime is thriving with growing demand for its facial recognition software, especially as local governments in China adopt its technology to battle the coronavirus.The Hong Kong-based startup’s revenue surged 147% to 5 billion yuan ($720 million) in 2019 and its customer base increased by about 500 to 1,200 clients, according to co-founder Xu Bing. Sales are on track to climb 80% this year to about 9 billion yuan and gross profit could double, according to …read more […]

According to Urban Dictionary…
An “internet troll” is someone who posts controversial messages in an online community with the primary intent of provoking an emotional response.
And today, these internet trolls are going to eat a hot plate of crow.
You see, I’m never one to shy away from criticism.
So today, I’m going to do what no other editor ever does…
I’ll read off the biggest troll comments I’ve received…
And actually respond to them!
Just for the fun of it… I’ll keep score as well.
If the trolls are correct, they’ll get a troll point.
If the trolls are wrong, Trade of the Day gets the point.
Ready …read more […]

Oil prices have fallen significantly as a result of the coronavirus, and smart money is now looking for the best value stocks in the energy sector …read more […]

mRNA vaccine maker Moderna (MRNA) has undoubtably been one of 2020’s success stories. One of the frontrunners in the race to develop a COVID-19 vaccine, investors have cheered each step of its candidate’s progress. While shares haven’t soared as majestically as those by some of its smaller sized peers, they have nevertheless appreciated by 243% so far this year.Yet, the company sparked confusion among investors last week after announcing that the US government has put an order in for 100 million doses of the company’s COVID-19 vaccine candidate mRNA-1273, for a total cost of $1.53 billion. As it turns out, …read more […]

Shopify (NYSE: SHOP) is one of the hottest stocks on the market.
Just check out this stock chart…

A $10,000 investment in Shopify five years ago is now worth more than $280,000! And the vast majority of that increase came this year.
No question… I wish that I had bought shares of this company a few years ago. But would I buy shares today?
No way.
Even when compared with some of the most expensive stocks in the world, Shopify is outrageously overpriced.
Founded more than 10 years ago when entrepreneur Tobias Lütke wanted to sell snowboards, Shopify is a great company… but at today’s valuation, …read more […]

This week kicked off with a bang, as Novavax (NVAX) took another step forward in the COVID-19 vaccine race. On Monday August 17, the biotech announced the start of the Phase 2b trial of NVX-CoV2373, its adjuvanted recombinant protein COVID-19 vaccine candidate, in South Africa.The trial is part of a randomized, observer-blinded, placebo-controlled efficacy study and is comprised of two cohorts. Cohort 1 will assess the candidate’s efficacy, safety and immunogenicity in approximately 2,665 healthy volunteers, while the second will evaluate the vaccine in 240 medically stable, HIV-positive adult patients.5-star analyst Mayank Mamtani, of B.Riley FBR, points out that the …read more […]

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TORONTO, Aug. 18, 2020 /CNW/ – Namaste Technologies Inc. …read more […]