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Cathie Wood’s Fund Bought More Tesla After Shares Got ‘Slapped’

(Bloomberg) — The record plunge in Tesla Inc. that shaved $82 billion from its value in just one day dragged down Cathie Wood’s innovation ETF. For her, the rout in the fund’s biggest holding was the perfect reason to buy even more.“I was happy to see it get slapped,” Wood said of Tesla’s shares. “We wait for those sorts of days where there is outright fear. If we think the stock has dropped enough, we’ll move in, and we did.”Tesla plunged 21% earlier this month after missing out on being included in the S&P 500 and on news of a …read more […]

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Perelman Selling Almost Everything as Pandemic Roils His Empire

(Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby’s to sell hundreds of millions of dollars of works.He’s unloaded his stake in Humvee-maker AM General, sold a flavorings company that he’d owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid …read more […]

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Trending Stocks: What Are They and How Do You Spot Them?

There is some confusion around the concept of trending stocks, because they can mean different things in different contexts. So the first thing we need to clarify is what we mean when we use that phrase.
One way people talk about trending stocks is by referring to stocks that are moving in a generally upward or downward direction over a certain period of time. When the stock is moving upward, we can say it’s trending up. When it’s moving downward, we can say it’s moving down.
Sometimes, the phrase is actually referring to stocks with heavy trading volume, which means it’s a …read more […]

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Wells Fargo: These 2 Stocks Could Deliver Triple-Digit Wins

Was the recent market volatility just a fake out? After notching an all-time high on September 2, fears related to overheated valuations spurred a rapid correction, marking the first material correction of the current bull market. However, this doesn’t mean the bears have been vindicated, so says Wells Fargo’s Sameer Samana.Samana highlights the fact that both the S&P 500 and the NASDAQ “were able to hold above the levels we saw in June,” arguing “from a higher highs, higher lows standpoint, the fact you were able to hold at higher levels than June or July is encouraging.” He added, “Right …read more […]

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Snowflake CEO on his $1.8B net worth: You don't get there by sitting back, waiting for things to happen to you

Snowflake made its big debut on Wall Street Wednesday, jumping nearly 112-percent on its first day of trading. Snowflake CEO Frank Slootman joins Yahoo Finance’s The First Trade with Alexis Christoforous and Brian Sozzi to discuss the run-up to the IPO, his journey to this point, and much more. …read more […]

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Cyclical Stocks: An Offensive Play For Any Market

Economies of all shapes and sizes go through cycles. There are expansions and contractions… peaks and valleys of economic output. And the same goes for the markets. There are macroeconomic factors that push the price of stocks up and down. But there are also more obvious ways to anticipate the movement of some companies’ share price… Especially if they fall into the category of cyclical stocks.

Cyclical stocks come in two major classes:

Some go up and down in conjunction with greater trends in the market
Some follow their own annual trajectory based on consumer trends

Identifying cyclical stocks and timing an investment appropriately …read more […]

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Democrats lift U.S. consumer sentiment; current account deficit widens 52.9%

The survey from the University of Michigan on Friday, however, showed President Donald Trump, a Republican, and his Democratic Party challenger, former Vice President Joe Biden, in “a virtual tie” when assessing consumers’ responses between July and September on which candidate they thought would win the election, not whom they favored or how they intended to vote. “The September gains were primarily in the outlook for the economy, and it was Democrats that posted gains in economic prospects while optimism about the economy weakened among Republicans,” the University of Michigan Surveys of Consumers chief economist Richard Curtin said in …read more […]