Stocks - r/Stocks Daily Discussion Wednesday - Sep 23, 2020 |
- r/Stocks Daily Discussion Wednesday - Sep 23, 2020
- California to Ban Sale of Gas Powered Vehichles by 2035
- Thailand to start legal action vs Facebook, Google, Twitter over content
- Elon Musk says Tesla deliveries will rise 30% to 40% in 2020, touts new battery tech
- Corsair IPO Today
- Here is a Market Recap for today, Sept 23. What a crazy day!
- GoodRX became publically traded today. Stock nearly 50% up from listed price, around $49 a share.
- Let's talk about Zoom (ZM)
- RKT valuation and good entry price
- New IPOs coming to the market Today
- How similar is 2020 to 1999-2000? I wasn't around, but from what I've read...
- Warren Buffett’s greatest investing mistake was an emotional decision that cost him more than 120 billion dollars.
- Dow Falls 500 Points as Fed Warns More Stimulus Needed
- Top Stories - Wednesday, Sept. 23, 2020
- NET: high puts volume but stock closes +2.34%?
- Stock Portfolio Tracking using Google Spreadsheet
- Worst case scenario?
- Should I buy Shopify Stock?
- Xbox One X sales up 747% on Amazon because buyers thought it was the upcoming new Xbox Series X console
- Will Other Online Brokers Also Increse Margin Requirements?
- Morning Market Synopsis - Wednesday, Sept. 23, 2020
- Thoughts on buying into NOK, CCL and AAL?
- Cramer’s thoughts on DPHC
- Advice about VIX exposure during election season
| r/Stocks Daily Discussion Wednesday - Sep 23, 2020 Posted: 23 Sep 2020 01:06 AM PDT These daily discussions run from Monday to Friday including during our themed posts. Some helpful links:
If you have a basic question, for example "what is EPS," then google "investopedia EPS" and click the investopedia article on it; do this for everything until you have a more in depth question or just want to share what you learned. Please discuss your portfolios in the Rate My Portfolio sticky.. See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday. [link] [comments]  |
| California to Ban Sale of Gas Powered Vehichles by 2035 Posted: 23 Sep 2020 11:08 AM PDT Good sign for Electric Vehicle stocks. Hopefully other states follow suit. There will be some huge opportunities for TSLA, Lordstown, etc... not to mention Hyliion, Chargepoint, Workhrse and other up and coming EV related companies. We should see a quick race for current automakers to ramp up EV technology and production. Interested to see which established companies will succeed versus newer EV companies on the market. [link] [comments]  |
| Thailand to start legal action vs Facebook, Google, Twitter over content Posted: 23 Sep 2020 07:13 AM PDT https://finance.yahoo.com/news/thailand-start-legal-action-vs-130023945.html BANGKOK (Reuters) - Thailand's digital ministry said on Wednesday it would start legal action against Facebook, Twitter and Google this week for ignoring some requests to take down content, in what would be the country's first such cases against major internet firms. Under the Act, ignoring a court order can result in a fine of up to 200,000 baht ($6,347), then 5,000 baht ($159) per day until the order is observed. Thanks for the award. [link] [comments]  |
| Elon Musk says Tesla deliveries will rise 30% to 40% in 2020, touts new battery tech Posted: 22 Sep 2020 04:24 PM PDT Tesla CEO Elon Musk said on Tuesday he expects vehicle deliveries to increase by 30 to 40 percent over last year, when the company reported deliveries of 367,500 vehicles. The new guidance from Musk implies deliveries of between 477,750 and 514,500 cars, a range that encompasses the company's previously stated goal to deliver half a million cars in 2020. Musk offered the updated numbers during the company's 2020 shareholder's meeting on Tuesday afternoon, which was accompanied by a presentation about Tesla's battery advances. After thanking Tesla owners for their word-of-mouth marketing, he noted: "In 2019, we had 50% growth. And I think we'll do really pretty well in 2020, probably somewhere between 30 to 40 percent growth, despite a lot of very difficult circumstances." The company's shares dropped more than 6% during the presentation, which took place after normal trading hours. During the "battery day" portion of the presentation, Tesla confirmed that it is making its own battery cells at a facility in Fremont. Joining Musk on stage, Tesla's senior vice president of powertrain and energy engineering, Drew Baglino, described the new cells as a "large tabless cell," with a "shingled spiral" design. The cells are larger than the ones Tesla purchases from Panasonic and other suppliers, and offer "thermal benefits" which make them appropriate for use in electric vehicles. Baglino said battery, manufacturing and design changes underway at Tesla would eventually "unlock" a 54% improvement in the range of the company's vehicles. Musk, who is famous for being overly optimistic on such matters, said with all the battery and manufacturing advances Tesla is working on: "About 3 years from now, we're confident we can make a very compelling $25,000 electric vehicle that's also fully autonomous." Near-term, Tesla says it aims to produce 10 gigawatt hours worth of its new battery cells at its pilot plant within a year. Musk noted that whatever cells it produces in Fremont would be supplemental to 100 gigawatt hours worth of cells it buys from suppliers. The company also said it had secured rights to a lithium clay deposit in Nevada to mine for its batteries. On Monday, Musk warned that the advances announced at battery day won't find their way into mass production until 2021, sending the company's stock down about 6% ahead of the event on Tuesday. Due partly to Covid-19 health orders that limit the size of in-person gatherings, Tesla postponed its annual meeting from July this year to Sept. 22, 2020. The company previously held its shareholder meetings at the Computer History Museum in Mountain View, California but moved the event to Fremont, where its U.S. vehicle assembly plant is based. Shareholders parked and sat in their cars at the meeting, which Musk characterized as a "drive-in." They honked in lieu of applause. Al Prescott, Tesla's VP of legal, at the company's socially distanced 2020 shareholders meeting, as attendees listen in their cars. Al Prescott, Tesla's VP of legal, at the company's socially distanced 2020 shareholders meeting, as attendees listen in their cars. Those who wanted to attend had to obtain a winning lottery-style ticket (or other special access) to the meeting. Otherwise, shareholders could log into a website to ask questions to be answered during the live-streamed event. Since its last shareholder meeting in June 2019, Tesla's long-time CTO JB Straubel resigned from the company. He worked there from the start, even before Musk took the CEO reins in 2008. Tesla also appointed a new board member, Hiromichi Mizuno, formerly the Chief Investment Officer of the Japan Government Pension Investment Fund, and a famous critic of shortsellers. Long-time Elon Musk collaborator and proponent, venture capitalist Steve Jurvetson, is leaving the Tesla board as well, though he still sits on the board of Musk's aerospace venture, SpaceX. Remaining board members at Tesla authorized a five-for-one stock split, which the company implemented in August this year. The split followed four consecutive quarters of reported profitability for Tesla, and a season where Musk clashed with health authorities in California over Covid-19 restrictions that temporarily shut down their vehicle assembly plant in Fremont. The stock split also followed a huge payout to Musk, part of his unprecedented compensation package. Expecting Tesla to talk about where its metals for batteries are sourced, and to promote battery tech suitable for Semi and Cybertruck vehicles, Cannacord Genuity analyst Jed Dorsheimer wrote in a note to investors before the meeting: "The big question will be on follow through. It's one thing to announce all these breakthroughs, which might be great for momentum algorithms, but like most things TSLA, the devil will be in the details, which sadly will take some time to play out." Cannacord maintains a "Hold" rating and a price target of $442 on shares of Tesla currently. Shares of the electric car maker are up more than 400% year-to-date. [link] [comments]  |
| Posted: 23 Sep 2020 05:33 AM PDT Just a reminder for everyone, I think this will be a nice one and for long-term hold. CRSR ticker. I like the financials, the company and the future outlook. Not sure about the exact time of the IPO. Link to their S-1 filing here: https://www.sec.gov/Archives/edgar/data/1743759/000119312520227100/d507744ds1.htm Edit: Benzinga just announced that CRSR will open at 11 AM EST [link] [comments]  |
| Here is a Market Recap for today, Sept 23. What a crazy day! Posted: 23 Sep 2020 01:25 PM PDT PsychoMarket Recap - September 23, 2020 Stocks turned sharply negative again, erasing yesterday's gains and continuing the decline from the earlier week as investors weighed slowing economic data and the absence of fiscal stimulus. This was one of the worst sessions in September. The SPY finished 2.35% down, the Nasdaq 3.05% down and the Dow finished 1.93% down. Tech shares reversed yesterday's course and sank, leading the broader market down. Big tech stocks, like Amazon (AMZN), Facebook (FB), Apple (AAPL), Microsoft (MSFT) and Alphabet (GOOG) finished around 2% down on average. Economic analysts were mostly bearish. Ian Shepherdson, chief economist for Pantheon Macroeconomics said in a note, "It's also pretty clear that the rates of recovery have slowed, with only retail sales having completed the V. You can thank the enhanced unemployment benefits for that – $600 per week for more than 30M people, at the peak. It's hard to be optimistic about September and the fourth quarter, with the chance of a further relief bill before the election receding as Washington focuses on the Supreme Court". Federal Reserve Chair Jerome Powell and Treasury Secretary Steve Mnuchin once again addressed the urgent need for further stimulus in a testimony before the House Financial Services Committee yesterday. Powell underscored the limitations of the Federal Reserve's lending powers. He said, "Many borrowers will benefit from these programs, as will the overall economy. But for others, a loan that could be difficult to repay might not be the answer. In these cases, direct fiscal support may be needed." Mnuchin added that he wanted to reauthorize measures under the Payment Protection Program (PPP) that offered forgivable loans to businesses that stayed open and kept most of their employees on payroll. Unfortunately, any reauthorization or reallocation of funds requires Congressional approval, something unlikely to happen with lawmakers unable to come to a consensus about stimulus and focused mainly on the Supreme Court. Highlights
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| GoodRX became publically traded today. Stock nearly 50% up from listed price, around $49 a share. Posted: 23 Sep 2020 09:57 AM PDT GoodRx priced its shares at $33 apiece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion. Stock already trading at around $49 a share. Seems like a very interesting stock
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| Posted: 23 Sep 2020 08:00 AM PDT At the time of this posting the share price is $530. I've been watching in disbelief as it keeps climbing higher and higher. People who are buying at these prices.. why? How long have you been trading or investing for? [link] [comments]  |
| RKT valuation and good entry price Posted: 23 Sep 2020 10:57 AM PDT RKT mortgage IPO'd at $18 and had a bit of a dud IPO compared to SNOW, BIGC, U and AMWL. But, compared to all those other IPO's, RKT's number are much more impressive in the short term. The biggest worry right now for RKT is how much they want to be valued as a fintech/software company compared to a financial/mortgage company. This has big implications on how large institutional investors will value their P/E and Revenue/MktCap ratio compared to the industry. Lets take a quick look at their most recent 10Q filed on August 2. Their revenues for 6 months ended June 30 are reported at $6.3B. That puts them on track to have annual revenues of about $14B. Their net income in the same period was $3.5B. The growth rate of these numbers compared to their same 2019 time period is kind of astounding. They're up 5x on mortgages written, and up 4x on gross revenues. Their expenses only increased by 50%, creating a huge jump in profitability. The market valuation of RKT right now is at 4x of revenue to market cap. That number seems low, even if you value RKT as a mortgage finance company, and not like a fintech company it wants to be. Their margins are around 5% as per their a quarter report: https://ir.rocketcompanies.com/news-and-events/press-releases/press-release-details/2020/Rocket-Companies-Announces-Second-Quarter-Results/default.aspx The P/E ratio is a bit trickier to calculate, as they haven't had a full year of earnings since their IPO. But doing some simple math, they have 1.883B outstanding class D shares and they had net income before taxes for 6 months in 2020 of $3.481B. This creates a rough EPS of 1.85 for 6 months, which projects to 3.70 EPS for the year. This means that the current EPS is around 5.67. I feel like these numbers are really rough, and I'm open to skeptical review of this if they're wrong. I used the quarterly report for my projections: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001805284/cbbd760c-c52b-49c6-8074-728045edca87.html# Here is the PDF equivalent of the quarterly report: The biggest threat to RKT right now is the interest rate since the majority of their income seems to come from refinancing. With JPow claiming interest rates will remain near zero through 2023, I don't see RKT having any headwinds for at least the next 3 years. How is everyone else who is holding RKT feeling about the potential price target of this company? Their Q3 projections and guidance are quite impressive. But I feel like they have lots of headwinds regarding their projected market/industry and expected growth. [link] [comments]  |
| New IPOs coming to the market Today Posted: 23 Sep 2020 05:25 AM PDT Hey guys, there are 5-7 IPOs coming to the market today these are: NASDAQ:AMST (Amesite) NASDAQ:BSY (Bentley Systems) NASDAQ:CRSR (Corsair Gaming) NASDAQ:GDRX (GoodRx Holdings) NYSE:LSF (Laird Superfood, Inc.) NASDAQ:AMCI (AMCI Acquisition Corp) - common shares now available NASDAQ:STWO (ACON S2 Acquisition Corp) - common shares now available Most of those companies have great financials and a good cashflow, its definitely worth taking a look! [link] [comments]  |
| How similar is 2020 to 1999-2000? I wasn't around, but from what I've read... Posted: 23 Sep 2020 06:46 AM PDT Don't get me wrong, I'm not saying there's going to be some market crash that takes a decade to recover from. But there's going to be some kind of correction at least. All of the IPO's (6 today?) And nasdaq absolutely soaring. Multiple companies hitting valuations not thought possible. Fraudulent companies trying to ride the train going up (Nikola). And more personal investors throwing cash they don't have at things they don't understand (wallstreetbets anyone?). I'm only 21. I've been investing since I was 19 but I've also read about 25 substantial books on investing. But knowledge and experience are two very different things. Just wanted to hear from someone with experience. [link] [comments]  |
| Posted: 23 Sep 2020 01:00 PM PDT "In 1964, Stanton made an oral tender offer of $11 1⁄2 per share for the company to buyback Buffett's shares. Buffett agreed to the deal. A few weeks later, Warren Buffett received the tender offer in writing, but the tender offer was for only $11 3⁄8. Buffett later admitted that this lower, undercutting offer made him angry.[16] Instead of selling at the slightly lower price, Buffett decided to buy more of the stock to take control of the company and fire Stanton (which he did). However, this put Buffett in a situation where he was now the majority owner of a textile business that was failing. In 2010, Buffett claimed that purchasing Berkshire Hathaway was the biggest investment mistake he had ever made, and claimed that it had denied him compounded investment returns of about $200 billion over the subsequent 45 years.[16] Buffett claimed that had he invested that money directly in insurance businesses instead of buying out Berkshire Hathaway (due to what he perceived as a slight by an individual), those investments would have paid off several hundredfold" Just thought it was interesting. Investing is more of a test of personality rather than IQ. If you buy and hold onto only good companies (Apple, Amazon, Costco, McDonalds, jnj, Brk, O etc...) you could easily do well for yourself. Even if some of them end up being bad picks like GE. But what's worse than having a bad pick is probably making a single emotional decision. FOMO, selling a good innovative company early on because you're scared of losing your 1.5-2x gains, liquidating everything because you're scared of a market crash and so forth. (reposted here as my post got deleted on r/investing) [link] [comments]  |
| Dow Falls 500 Points as Fed Warns More Stimulus Needed Posted: 23 Sep 2020 02:16 PM PDT Stocks ended sharply lower Wednesday as central bank officials warned more fiscal stimulus was needed to rescue a struggling U.S. economy. The Dow Jones Industrial Average finished down 525 points, or 1.92%, to 26,763, the S&P 500 was off 2.37% and the Nasdaq fell 3.02%. Amazon.com (AMZN) - Get Report finished down 4.1%, and Alphabet (GOOGL) - Get Report declined 3.5%. Federal Reserve Vice Chairman Richard Clarida, like Fed Chairman Jerome Powell before him, said the central bank believed "additional fiscal support will likely be needed" to lift the U.S. economy out of its coronavirus-related downturn. Powell warned Tuesday in congressional testimony that a U.S. recovery from the coronavirus pandemic, which has killed more than 200,000 Americans, "continues to be highly uncertain." "The recovery will go faster if there's support coming both from Congress and from the Fed," Powell said. Nike (NKE) - Get Report was the leading gainer on the Dow, rising 8.8%, after the sports apparel and equipment giant posted better-than-expected fiscal first-quarter earnings. Nike brand digital sales rose 82% overall in the quarter. Johnson & Johnson (JNJ) - Get Report was little changed at $144.43 after the healthcare giant said it started the final round of testing for its coronavirus vaccine candidate. Johnson & Johnson said the single-shot dose, which will be tested on 60,000 trial participants, followed positive data from a Phase 2 trial. The company reiterated its goal of producing and supplying more than 1 billion doses of the vaccine - should it be cleared by regulators - through the course of 2021. It aims to have a decision on the vaccine's effectiveness either later this year or in the first months of 2021. Tesla (TSLA) - Get Report shares declined 10% to $380.36 after the electric-car maker's battery presentation disappointed investors. CEO Elon Musk outlined his company's ambitious battery manufacturing and cost-reduction goals but detailed how long it might take for those goals to be reached. Musk said the cheaper and more efficient batteries ultimately will let Tesla "make a compelling $25,000 car that is also fully autonomous." Tesla's Battery Day: A Rundown of What Was Revealed The new batteries, however, will take a while to ramp up. Tesla said the 4680 batteries won't reach mass production until 2022. Tesla set goals of having 100 gigawatt-hours of annual production capacity by 2022, and 3 terawatt-hours of capacity by 2030. Global stocks remain on course for their first monthly drop since March. Prior to Wednesday, the S&P 500 had declined 5.3% in September, while the Nasdaq had dropped nearly 7%. Stock markets have traded lower the first three weeks of September on fears that rising coronavirus infections worldwide could lead to further lockdowns and a lack of another U.S. fiscal stimulus package. [link] [comments]  |
| Top Stories - Wednesday, Sept. 23, 2020 Posted: 23 Sep 2020 11:16 AM PDT Growth groups reversing some of yesterday's gains, pulling market lower:
House Democrats and White House reach deal on a stopgap measure to avoid a government shutdown:
Johnson & Johnson's coronavirus vaccine is fourth to enter late-stage trials in the US:
September Markit flash PMIs showed strength in manufacturing and services though expectations softened:
DoJ's antitrust case against Google to focus on search, looking to curb Section 230 protections:
FDA to announce stricter standards for emergency use authorization of coronavirus vaccine:
Busy day of Fedspeak, though nothing that is breaking new ground:
Tesla outlines plan to more than halve battery costs, produce $25K vehicle:
Health experts worried about an autumn surge in coronavirus cases:
Biden could end up being tougher on China than Trump:
01:08:07 PM CDT on 23 Sep '20 [link] [comments]  |
| NET: high puts volume but stock closes +2.34%? Posted: 23 Sep 2020 05:08 AM PDT I'm new to trading, and I know very little about options. While searching for news about NET, I found out on marketchameleon that yesterday the put volume on NET was extremely high: 85.5%. However, it closed at over +2% in the green yesterday. A newbie like me would've assumed the stock should've gone down. Can anyone ELI5 what happened please? [link] [comments]  |
| Stock Portfolio Tracking using Google Spreadsheet Posted: 23 Sep 2020 03:55 AM PDT Here is a direct link to Stock Portfolio Tracking using Google Spreadsheet – completely free: https://docs.google.com/spreadsheets/d/1Lif1ig8dhXq_Hiu9gwDenMJYY5RmiK-l7U4QIypt_kM/edit?usp=sharing [link] [comments]  |
| Posted: 23 Sep 2020 11:07 AM PDT Hi all I'm very new to investing. I have about $2k invested in mostly tech stocks. I see a lot of news about now being the time to buy and that this is a standard correction, and other news saying that investors should pull everything out and keep cash for the next 3 months. Based on historical crashes, what would be the worst case scenario? How far could the stock still fall realistically? [link] [comments]  |
| Posted: 23 Sep 2020 01:33 PM PDT Hey just wondering what people here are thinking Shopify (SHOP) fell again today closing $917 well below the peak with very strong growth in the last earnings update and key e-commerce revenue events of Black Friday and Q4 still to come and COVID still driving up e-commerce adoption. What do you think more room to grow? Am planning to hold for long term [link] [comments]  |
| Posted: 23 Sep 2020 01:32 PM PDT whoopsie!! I guess Microsoft should've named their new console something else to avoid confusion. A lotta buyers are gonna be returning their Xbox One Xs for what will amount to basically an Amazon.com credit. This is good for both AMZN and MSFT stock (since they'll prob use the credit to buy the new Xbox anyway)
https://www.theverge.com/2020/9/22/21451624/xbox-one-x-amazon-series-x-preorder-accident [link] [comments]  |
| Will Other Online Brokers Also Increse Margin Requirements? Posted: 23 Sep 2020 12:11 PM PDT $SPY- Y'day's news that Interactive Brokers will incrementally increase margin requirements from 9/28 to 10/30 Cool if the mkt is up or flat but should the market turn south - fuel to the fire; wonder if $SCHW @RobinhoodApp $AMTD #Fidelity etc. follow suit Link to $IBKR message: https://drive.google.com/file/d/1Wm3TkKpymAj2OHoWblSEZu4eMknJkkQ7/view [link] [comments]  |
| Morning Market Synopsis - Wednesday, Sept. 23, 2020 Posted: 23 Sep 2020 07:10 AM PDT US equities mixed: Dow +0.21%, S&P (0.16%), Nasdaq (0.50%), Russell +0.24%
Notable Gainers:
Notable Decliners:
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| Thoughts on buying into NOK, CCL and AAL? Posted: 23 Sep 2020 07:54 AM PDT I had originally held positions in the three and sold for a profit a month or two ago (sold too early on CCL and AAL, but is it what it is). With covid still being up to its covid self, I know the last two would be hold until recovery, but how do you feel about the three in general? Nokia I see has fallen substantially from where it had been about a month ago, though I don't know why. [link] [comments]  |
| Posted: 23 Sep 2020 07:03 AM PDT He said keep half, sell half. I'm a novice when it comes to stocks, but I see the stock had a large dip today. After doing some research, I thought this company had some potential. Since I'm new to this, I'm wondering what your thoughts are. Now that stock prices for the company are less, is now the time to buy more? [link] [comments]  |
| Advice about VIX exposure during election season Posted: 23 Sep 2020 05:45 AM PDT Hey everyone, the assumption im working under is: regardless of the outcome of the election, it will be a messy process with loads of uncertainty which should foster volatility. I'd like some short term exposure to VIX, my question is, which etf should I use, and when? I feel like late October seems right, just not sure about mid-term vs short term futures? Any thoughts? [link] [comments]  |
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