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HEXO Feels the Heat of Share Dilution

HEXO (HEXO) traded down 20% on Boxing Day after the company had a surprise equity raise. Considering the company recently completed a sizable convertible debt offering, the move on an inopportune day to raise equity doesn’t offer a promising outlook for the stock of the struggling Canadian cannabis company.Boxing Day Equity OfferingOn December 26 or Boxing Day in Canada, HEXO announced a definitive agreement to sell 14,970,062 shares to institutional investors at an offering price of $1.67. The deal was an ~14% discount to market prices and raised gross proceeds of $25 million. In addition, the offering includes warrants to …read more […]

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Wall Street's record rally loses steam on profit-taking

White House Trade Adviser Peter Navarro said on Monday the pact was likely to be signed in the next week, but added that confirmation would come from President Donald Trump or the U.S. Trade Representative. A South China Morning Post report earlier said Chinese Vice Premier Liu He would travel to Washington later this week to sign the deal. The Nasdaq fell for the second straight session, after having snapped an 11 session winning streak on Friday. …read more […]

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Nestle wraps up 20 billion Swiss franc share buyback, launches new program

Swiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback program and reiterated plans for a new one up to the same amount starting next year. Since July 4, 2017, Nestle said it had repurchased 225,186,059 of its shares at an average price per share of 88.82 Swiss francs. “Nestle will start a new share buyback program of up to CHF 20 billion as announced on Oct. 17, 2019,” the company said in a statement. …read more […]

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Analysts: These 3 “Strong Buy” Penny Stocks Could Soar in 2020

Penny stocks offer a conundrum for the investor; The low valuation scares the cautiously inclined away due to the cheap nature of the stock. On the other hand, they represent incredible opportunity for the risk tolerant amongst us. Invariably, this almost “catch 22” like situation begs the question: why are these companies priced so low? Is it due to bad fundamentals, indicating stocks that aren’t worth pursuing? Or is it that the market is missing something and there is opportunity to pick up a winner at a ridiculously low price?A bit of both, possibly. There is no doubt, though, that …read more […]