• Breaking News

    Tuesday, August 31, 2021

    Home Unlabelled Stock Market - Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

    Stock Market - Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

    August 31, 2021

    Stock Market - Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

    Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

    Posted: 31 Aug 2021 01:54 PM PDT

    Ex-Wells Fargo VP Fights SEC on Fake Accounts — With Silence. Carrie Tolstedt, who was a senior vice president before she left the bank in 2016, cited her right under the Fifth Amendment not to be a witness against herself more than 100 times in a response filed Friday to the agency’s complaint.

    Posted: 31 Aug 2021 12:13 PM PDT

    According this this famous study, DCA seems like the clear winner. How reliable is this study?

    Posted: 30 Aug 2021 10:44 PM PDT

    Anyone who thinks a crash is coming needs to chill out. Covid made the economy unpredictable. No economist can reasonably forecast the market for the next five years due to all the uncertainties.

    Posted: 31 Aug 2021 10:33 AM PDT

    We froze the economy in the middle of a bull market. We forced a global wide retraction of the economy. We don't know how travel or tourism will ever recover or if it ever will.

    The US government itself infused billions of dollars into the economy.

    I work in the wholesale construction and maintenance industry. We have a pretty good outlook from where we sit on how the economy is operating.

    First of all all predictions are forecasting growth.

    Second the supply issues are keeping the economy in check. People won't spend on commodities when they are priced so high. Wood, concrete, PVC, Copper are insane right now. This is making investors act cautiously and conservatively.

    Three that means we're seeing less projects and less risk. The money people had pre pandemic and the money they gained during the pandemic is sitting there.

    When businesses are over stretched and can't pay bills thats usually the start of a cascade of failures.

    Business A fails, suppliers don't get paid, bank doesn't get paid. Bank forecloses business. Suppliers lose business from loss of Business A. Their suppliers shrink or they fail and this hits manufacturers. The manufacturers shrink or fail and this affect producers of raw goods.

    Right now supply chain can't service Business A. Manufacturer can't supply supplier and raw material are being backed up. This is increasing demand and driving prices up. People don't spend money cause prices are too high, Money just sits there. So failures happen but at slower rates dues to the amount of savings.

    So we are currently here: Manufacturers increasing capacity to solve the log jam and drive prices back down. Suppliers meet back orders. Business A completes projects. Manufacturers expansion has thrown an influx of cash into the economy. A number of ancillary businesses servicing the manufacturer grow.

    Those businesses are hiring The manufacturer is hiring

    And as business A gets its log jam solved, they too hire because they have money to invest. More jobs then people.

    On the other hand though a lot of people bave been living on government substance. A lot of people haven't paid rent. Those rental businessaes have yet to show significant failire. And it might be because of the billions of dollars infused into the economy.

    So on one side is massive expansion with tons of available job

    And on the other a powder keg of foreclosures and people on the streets without jobs. (just because many jobs are available doesn't mean it's here or they're qualifed)

    submitted by /u/Mr-com999
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    Wall Street Sees Nothing but Good News, Even When It’s Bad. With expectations that interest rates will stay down and government spending will stay up, the stock market has learned to live with the pandemic, even as cases increase.

    Posted: 31 Aug 2021 05:05 PM PDT

    Corsair

    Posted: 31 Aug 2021 08:22 PM PDT

    I cant be the only one who believes Corsair is a great buy below $32 right? Throughout COVID they have done nothing but rake in money and expand the company. The amount of necessary gaming/streaming equipment they own the companies of is insane like elgato for instance which practically every streamer and content creator uses. Their products are incredible too and most people who play video games probably use them. These are just my thoughts though if anyone has a different opinion please let me know I'm super interested in what people have to think about this company.

    submitted by /u/TheDegenerateDon
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    Heat map for 31AUG2021

    Posted: 31 Aug 2021 03:43 PM PDT

    Why AHT is undervalued

    Posted: 31 Aug 2021 07:00 PM PDT

    A confluence of interested parties are all about to meet at a thinly traded hotel REIT stock thanks to rapidly improving conditions....

    The Bottom Fishermen AKA Value Investors see AHT for its portfolio of 100 properties with 22,286 rooms with value not reflected on the balance sheet. According to recent market data, the average selling price per key was close to $300,000 at the end of 2020, and has likely risen since then. That means the $3 billion shown on the balance sheet only tells half of the story, the true portfolio has a market value of over $6.6 billion and rising due to inflationary pressure.

    They owe $4.1 billion on this portfolio, giving them $2.5 billion in net equity. Is this a lot? If we divide it by the 31.1 million shares, that leaves $80 per share of hotel equity. But wait, there's more! They also have $18 of cash per share. That means there are $98 per share of hard assets backing up a $15 per share purchase price, a value investors dream come true.

    The capital stack has also shifted into the common shareholders' advantage. In 2019 there were over 25 million preferred shares ahead of the common with a total par value of $625 million, that number has been reduced by $339 million with nearly zero change to the market capitalization of the common. This won't stand for long as the retirement of the preferred reduces the company's annual dividend liability by over $25 million and increases the cash flow of the common by nearly $1 per share per year. With a common stock price of $15 per share, that's a 6 point yield improvement in per share cash flow.

    The Trendsetter is also interested in AHT. The investment cool kids are starting to shift back to re-opening stocks at the Delta variant plays out and vaccination rates increase. As of this week around 900K does of vaccine are being injected per day which means the United States will reach the critical 75% vaccination rate in 4 months or less if the rate continues to rise. Hold out states such as Texas and Florida are turning the tide as their rates are rising faster than the national average. TX and FL have achieved 54% and 61% vaccination rates respectively and are still climbing fast.

    The bottom line is people will travel anyway. Even back in March, warm destinations such as AHT's Crowne Plaza Key West achieved occupancy rates of 96% with over 80% of their properties being operating profit positive BEFORE wide distribution of vaccines. AHT is poised to benefit from travel demand quicker with their concentration in the southeast US.

    The Chart Reader is seeing double and triple bottoms with higher highs and higher lows. The reversal is clearly in and resistance is in the 30's. This looks like an easy double, maybe more with some good volume. Even with recent increases in price, any of the moving averages are way north of current prices. Looks like an entry point.

    The MOMO is starting to take notice because the trend line is clearly up and momentum is the name of the game. People are noticing AHT and is being talked about in recent articles, on message boards, and tweets. Even the biggest bears have started to swing around to be bullish given the ridiculously low prices.

    It also makes him feel better that the big institutions are piling in one after the other. The time is now! This thing is about to moooooooonnnnnnnnnn!!!!!

    Credits: u/gbrunke This is not financial advice

    submitted by /u/dingdong18412
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    Final reminder for Euro Bank Lurkers here: Check your credit swaps / basket swaps. A disturbing price/volume correlation has been discovered between GME and DELISTED stocks such as Sears and Blockbuster.

    Posted: 31 Aug 2021 08:00 PM PDT

    $WKHS

    Posted: 31 Aug 2021 02:22 PM PDT

    $WKHS Is A Sleeping Giant

    Can Workhorse Find the Strength to Bounce Back?

    The USPS Next generation Delivery Vehicle Project was recently awarded to Oshkosh Defense, which had extreme effects on the share price of $WKHS – Workhorse. However, the question I wanted an answer to is did this occurrence make Workhorse an undervalued growth stock, or is Workhorse still overvalued even after their share price was massacred? This question led me to undergo this analysis to find out.

    Company Overview:

    Workhorse is a technology company focused on renewable, and cost-effective solutions in the transportation sector (they make EV's). Workhorse is an all-American electric delivery truck, and drone manufacturer that is constantly looking for new ways to innovate and optimize their mechanisms. Workhorse is currently working on bringing their C-Series electric delivery trucks to the market to fulfill previous order request. Workhorse is an OEM trying to satisfy the requirements for their Class 2 – Class 6 commercial-grade, medium-duty truck market.

    Workhorse has highlighted some of the biggest benefits derive from using their vehicles, these include:

    · Lower total cost-of-ownership compared to conventional gasoline/diesel vehicles (estimated to save $170k in fuel savings compared to their fossil fuel counterparts)

    · Increased package deliveries per day through the use of more efficient delivery methods

    · Improved profitability through lower maintenance costs and reduced fuel expenses

    · Improved vehicle safety and driver experience.

    Currently, Workhorse is selling their vehicles to their clients using the following distributors Hitachi, Ryder, and Pritchard. Furthermore, 2 of their distributors (Ryder and Pritchard) are also maintenance providers for Workhorse.

    Currently, Workhorse has successfully delivered 370 electric delivery vehicles to their customers, and they are the only American OEM to reach these figures, which is quite the accomplishment. These customers consist of the following companies Alpha Baking, FedEx, Fluid Market Inc., Pride Group Enterprises, Pritchard, Ryder, UPS, and WB Mason.

    Workhorse's Series-C delivery truck comes in 2 configurations, a 650 cubic ft., and a 1,000 cubic ft configuration. Furthermore, their Series-C vehicles include lightweight materials, 360-degree camera's, collision avoidance, best-in-class turning radius, and their very own roof mounted HorseFly delivery drone. These features help to set Workhorse apart from both their electric and fossil fuel competitors, especially their roof-mounted drone.

    Investment Information:

    USPS Next Generation Delivery Vehicle Project:

    Last year, Workhorse was in competition to win a USPS contract to manufacture 165,000 vehicles for USPS to order and use as mail delivery vehicles. There were 4 other participants in this program, and Workhorse delivered 6 of their prototype vehicles for testing to potentially win this contract. On February 23rd, 2021, it was announced that Workhorse would not be obtaining this contract, but rather Oshkosh Defense.

    This came as a surprise to many people and investors and WKHS share price was greatly affected by this news. However, this also created a buying opportunity for investors, as this contract was not the be all and end all of Workhorse's business. Workhorse still manufactures their electric vehicles and has great potential in the EV Trucking space.

    HorseFly Technology:

    As I previously mentioned, Workhorse has their HorseFly drones built into their delivery vehicles. These HorseFly drones are patented, unmanned, and are incorporated into Workhorse's delivery vehicles in order to deliver packages more efficiently.

    These HorseFly drones are capable of carrying up to 10 pounds of packages (payload) and can reach maximum speeds at approximately 50 mph (80km/hr).

    The HorseFly system includes an aircraft, a Ground Control Station (GCS), supports takeoff/landing, and has a cargo handling system. This system is designed to support high volumes of packages, long days of use, little maintenance is required, and the system allows Remote Pilots in Command (RPIC) allowing one pilot to control multiple drones.

    Workhorse's drones have been proven to be safe, reliable, and capable of delivering packages.

    Metron:

    Workhorse has a cloud-based, remote management system to trach vehicular performance, which they have called "Metron". Metron collects data and signals while the truck is driving and stores this data in their database and is shared to their clients. This data will be used to map specific route parameters to better manage the battery power, which can help maximize efficiency and determine the ideal times and locations to charge their batteries.

    Partnerships:

    Duke Energy:

    Workhorse has entered into a partnership with $DUK - Duke Energy to create an innovative battery leasing program that provides customers with options and cost-competitive alternatives. Duke can also provide depot-wide electrification, battery leasing, and distributed energy resources to Workhorse's customers. Duke and Workhorse [partnered to make an integrated solution to help reduce the costs of converting existing fleets to quicken their adoption.

    Moog:

    Workhorse has also partnered with a company called $MOG-A - Moog. This partnership is a joint venture (50%-50%) for the development of the unmanned aerial systems (UAS), (their drones). Teams from both Workhorse and Moog are working on developing these drones, their systems, and their sub-systems to improve their quality and make them the most capable UAS in the market. Their goal for these UAS is to be highly reliable, safe, and certified by the highest levels of government approval.

    Emission and Fuel Economy Standards:

    The Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) issues increasingly stringent fuel/emission standards for 2021-2027. In this document they highlight Workhorse as a "vocational vehicle" manufacturer, which makes Workhorse eligible for flexibility and incentive programs, such as the Averaging, Braking, and Trading Program (ABT). This program allows fuel consumption credits to be banked, traded, or averaged. This will allow Workhorse to sell these credits to companies who have larger than mandated emissions.

    Clean Air Act:

    Workhorse has already acquired their Certificate of Conformity from the EPA. This certificate is required to be able to sell vehicles in states covered by the Clean Energy Act (ie. California).

    Intellectual Property:

    Workhorse currently has 8 existing patents, 1 of which is Canadian and covers their vehicle chassis assembly, and the other 7 are American covering vehicle chassis assembly, vehicle headers, onboard generator system, UAS package delivery system, and their drive module. Additionally, Workhorse has 19 pending patent applications.

    Furthermore, Workhorse has 14 issued trademarks (US, and Internationally) and has filed for 5 more trademarks.

    Property:

    Workhorse owns 2 pieces of real estate, one of which is their 250,000 sq ft manufacturing plant in Union City, Indiana, and the other is a 45,000 sq ft administrative, manufacturing, and R&D plant in Loveland, Ohio.

    Furthermore, Workhorse leases 2 factories which are also located in Loveland, Ohio.

    It is good to see that Workhorse has purchased these 2 factories as they will have greater control over what they chose to do and their methods of manufacturing. Also, paying off equity in these 2 factories is essentially paying down an asset.

    Financial Information:

    · 2016 Stock Incentive Plan: Currently, there are still 102,500 shares yet to be converted from existing warrants from Workhorses 2016 stock incentive plan. If these shares were to be converted and dumped into the market, it would cause a dilutionary effect of 0.08%

    · 2017 Stock Incentive Plan: Currently, there are 2,247,500 common shares, and 1,475,625 shares that can be converted from warrants that are yet to hit the market from Workhorse's 2017 stock incentive plan. If these shares were to be put on the market this year, it would cause dilutionary effect of roughly 3.02% on existing shares.

    · 2019 Stock Incentive Plan: There are also 773,115 common shares that can be converted from warrants, and 4,332,011 shares that are yet to be issued from Workhorse's 2019 stock incentive plan. If these shares were to be converted and dumped into the market, it would cause dilutionary effect of roughly 4.14%

    · Series B Preferred Stock: In 2019, Workhorse offered some Series B Preferred Shares to accredited investors. Workhorse sold 1,250,000 of these shares, and each of these preferred shares can be converted into 7.41 common shares. If all of these preferred shares were converted there would be 9,262,500 common shares, however, we know that in 2019 and 2020, 1.6M shares were issued through the conversion of preferred shares. Meaning that there is a maximum of 7,662,500 common shares that can be converted. If all of the remaining preferred shares were to be converted, then it would cause a dilutionary effect of roughly 6.22%

    · 2024 Convertible Notes: Currently, there is $197.7M worth of convertible notes, which are convertible at $35.29/share. This means that there are 5,602,154 shares that can be converted from these notes. If this were to happen, existing shares would exhibit dilutionary effects of 4.55%.

    · Marathon Warrant Agreement: In 2018, Workhorse sold Marathon Asset Management a warrant to purchase 8,053,390 shares for an exercise price of $1.25. If these warrants were to be exercised and sold, there would be dilutionary effects of 6.53%.

    · RSU and Options: In Workhorses stock-based compensation they also offer options and restricted stock units (RSU), and as of December 2021, there are 1.97M shares available from options to be purchased at $2.10/share (exercisable over the next 1.8 years), and 1.37M shares in RSU's (which is expected to be recognized over the next 1.7 years). If all of these options are exercised, and the RSU's are vested then there will be dilutionary effects of 2.72%.

    · Financial Performance (Good): Workhorse had a great year in 2020, as their net sales increased by 269.80% (and their cost of sales only increased by 123.56%), their net income was $69.78M (which is the first time they have reported a positive net income), they reported revenue from their drones for the first time, and they paid off $19.14M in long-term debt.

    · Financial Performance (Bad): Workhorse's gross loss increase by 113.35% however their surge in "other income" helped to prop up earnings (they are not making money from solely the sale of their vehicles), and their interest expense increased by 553.67%.

    · Liquidity: Workhorse has nearly doubled their cash position YoY, from $23.9M to $46.8M. They noted that they will use some of this cash to finance projects in 2021 in their SEC 10-K filing.

    Management Team:

    Duane Hughes (CEO, President, and Director): Mr. Hughes has 20 years of direct experience and has relationships in the automotive, advertising, and technology industries. Prior to Workhorse, he worked at Cumulus Interactive Technologies Group as their COO, and prior to this he worked as VP of sales and operations for Gannett Co. Inc.

    Robert Willison (COO): Mr. Willison previously served as the Director of Fleet Technology for Sysco Corp. Prior to Sysco, Mr. Willison worked as the CTO of Rav Technologies.

    Steve Schrader (CFO): Mr. Schrader has over 16 years of experience in public and private companies in a variety of industries. Prior to Workhorse Steve was the CFO of Fuyao Glass America for 4 years.

    Stephen Fleming (VP): Mr. Fleming worked at Workhorse for 9 years as corporate/securities counsel before being promoted to VP. Previously to that, Mr.Fleming served as the managing member of Fleming PLLC, which is a boutique law firm specializing in corporate/securities law.

    Although these people do not have the most extensive background in the automotive industry they have a solid background in business, finance, and technology. This is good to hear as they should be able to run this business from a management standpoint, however, where these people lack expertise in the automotive field, they can consult their board of directors who have worked for companies like GM, Piston Group, Cadillac etc. This helps to create a well-rounded management team that I believe is capable of running this business properly.

    Investment Valuation:

    Due to Workhorse's current financial information, I am not able to create a DCF model in order to value the company. However, I was able to undergo comparable analyses, in which I compared Workhorse's EV/Assets, EV/Revenue and P/B multiples to their competitors. In order to arrive at an unbiased valuation, I took a weighted average of the comparable analyses.

    EV/Assets:

    By comparing this multiple to their competition, I arrived at a fair value of $WKHS of $11.97, if this were the case the implied downside would be 22.91%.

    EV/Revenue:

    By comparing Workhorse's EV/Revenue multiple to their competition, I arrived at a fair value of $535.36, which would imply an upside of 3347.23%. This is absurdly high and is due to $NKLA – Nikola having an EV/Revenue multiple of 153,392.

    P/B:

    By comparing Workhorse's P/B ratio to their competitors, I arrived at a fair value per share of $14.73, which would imply a downside risk of 5.14%.

    Weighted Average Comparable:

    Since the EV/Revenue comparable implied such a large upside I gave it a weight of 6.6% (20% of equal weight (33%).) the other two results achieve in the comparable analyses are both then weighted equally at 46.7%.

    By doing this I arrived at an estimated fair value per share of $15.93, which would imply that Workhorse has a potential upside of 2.58%. This essentially means that you are buying close to fair value, which helps to mitigate risk.

    Analyst Coverage:

    The [average analyst price target) of 7 Wall Street analysts for $WKHS – Workhorse is $15.70, which would imply an upside of 1.09%, this implies that Workhorse is an undervalued growth stock. These estimates are similar to the results I achieved in my comparable analyses.

    Risks:

    · Dilution: Workhorse has had problems with their levels of dilution in the past as they have averaged 44.64% share dilution per year over the last 3 years. Furthermore, these high levels of dilution are also looking pretty likely in the future as Workhorse is yet to offer all of the shares from their 2016, 2017, and 2019 stock incentive plans, their Series B Preferred Shares, their 2024 Convertible Notes, their Warrant Agreement with Marathon Asset Management, their RSU's, and finally their outstanding options. All of these programs, plans, and agreements will account for approximately 27.26% of future share dilution. This level of previous dilution, and the levels of expected dilution are very high, even for a high-growth, high-potential stock like Workhorse, and should worry current and potential investors alike.

    · Financial Performance: As stated previously, Workhorse has a couple sections of their financial reports that did not look so favourable (gross loss increase, and high interest expense growth.) If Workhorse does not continue to make large sums of revenue from their "other revenue" segment, then their losses will appear bigger, and they may not report another positive year (like they did this year). This would be detrimental for the stock and scare off investors.

    Catalysts:

    · Financial Performance: Workhorse increased their net sales by 269.80% (and their cost of sales only increased by 123.56%), their net income was $69.78M (which is the first time they have reported a positive net income), they reported revenue from their drones for the first time, and they paid off $19.14M in long-term debt. As stated previously, this was Workhorse's first time reporting a positive net income on their yearly statement, this could show investors that they have turned around the business, and if they continue this performance in the future, then it will solidify this belief and attract investors.

    · Social Sentiment: According to [Utradea's Reddit Tab} Workhorse is the 4th most trending stock (in the past 24 hours) and the 9th most tending stock (in the past 48 hours) on Wall Street Bets and has an overall positive sentiment. We have seen the impact that Wall Street Bets has had on other trending stocks, so it will be interesting to see if Wall Street Bets can pump this stock for a quick return.

    · Short Squeeze Potential: Currently, Workhorse has a short interest of 40%, which makes it a good candidate for s short squeeze. This stock has the potential to be squeezed, especially if Wall Street Bets takes an interest in it.

    66.87% of the free float is short which is 44% of all outstanding shares. Yes, that's true so I will repeat that. 66.87% of the free float is short which is 44% of all outstanding shares. 1.4 million shares shorted today 1 million returned. Shorts burrying themselves with 400k more Shorts outstanding and it was green today…

    My Positions

    50 $10.50 Sept. 3 Calls 50 $10.50 Sept. 10 Calls 100 $11.00 Sept. 17 450 Shares

    I am not a financial analysis.

    submitted by /u/yiggyyaya
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    Japan finds another Moderna vial suspected to contain foreign substance

    Posted: 31 Aug 2021 08:54 PM PDT

    S.Korea's parliament passes bill to curb Google, Apple commission dominance

    Posted: 31 Aug 2021 03:47 AM PDT

    I think every retail investor should call there brokerage, and check if they can lend your share without your knowledge

    Posted: 31 Aug 2021 07:53 PM PDT

    South Korea bans Google, Apple payment monopolies

    Posted: 31 Aug 2021 09:42 AM PDT

    PsychoMarket Recap - Tuesday, August 31, 2021

    Posted: 31 Aug 2021 01:37 PM PDT

    The rally in equities somewhat cooled today, with all three major indexes trading modestly red today but are on track to close out a stellar month, with the S&P 500 (SPY) gaining more than 2.5% in August, its seven straight month of gains. So far, the SPY is up a staggering 20% year-to-date. Market participants continue to digest the Federal Reserve's annual Jackson Hole Symposium and a key speech by Chairman Jerome Powell on Friday. Looking ahead, market participants await a busy week for new economic data, with the August Jobs Report due out on Thursday.

    BMO Capital Markets became the latest financial firm to raise its end of the year price target for the SPY. Brian Belski, the company's Chief Investment Strategist, wrote in a note to clients that he now expects the index to end the year at $480, up from his original estimate of $450. He cites the "blistering rate" of corporate earnings amid a strengthening economic backdrop.

    Despite hawkish statements by other Federal Reserve members in the July meeting minutes, in his speech Powell remained highly accommodative, suggesting he was more inclined to wait to see further progress in the economy before tapering QE, especially in light of surging infections due to the Delta variant. Powell said, "At the FOMC's recent July meeting, I was of the view, as were most participants, that if the economy evolved broadly as anticipated, it could be appropriate to start reducing the pace of asset purchases this year. The intervening month has brought more progress in the form of a strong employment report for July, but also the further spread of the Delta variant. We will be carefully assessing incoming data and the evolving risks. Even after our asset purchases end, our elevated holdings of longer-term securities will continue."

    Powell once again urged caution since the economic recovery in the market is still undergoing, saying effects from an ill-timed policy shift would "arrive after the need has passed" and "could be particularly harmful. Here is the full quote, "The main influence of monetary policy on inflation can come after a lag of a year or more. If a central bank tightens policy in response to factors that turn out to be temporary, the main policy effects are likely to arrive after the need has passed. The ill-timed policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired. Today, with substantial slack remaining in the labor market and the pandemic continuing, such a mistake could be particularly harmful. We know that extended periods of unemployment can mean lasting harm to workers and to the productive capacity of the economy."

    Here is the full transcript from the speech, I encourage everyone to read it fully. It's not very long and is extremely insightful to see exactly what the main monetary policy-maker thinks of the current state of the economy

    https://www.federalreserve.gov/newsevents/speech/powell20210827a.htm

    James Liu, Founder and CEO of Clearnomics, said of Powell's speech, "We do think that tapering, in general, will be a non-event, most likely because first, the market has had time to react throughout this year. The Fed has done a great job telegraphing this. Whether it's September or November for the announcement of taper will really depend on the jobs report coming up and some more economic data. But regardless, the market seems to expect it at this point. This is very different from 2013 when the market had to adjust very abruptly to taper." In my humble opinion, I totally agree with this sentiment.

    Highlights

    • U.S. home prices surged by the most in 30 years at the beginning of this summer as tight inventory levels and elevated demand combined to drag on affordability. The S&P CoreLogic Case-Shiller national home price index jumped 18.6% in June over last year, accelerating from a 16.8% rise in May. This also marked the 13th straight month of accelerating price increases.
    • Footwear startup Allbirds, which is known for making shoes with only environmentally safe and sustainable materials, filed to go public via IPO. Its backers include Oscar-winning actor Leonardo DiCaprio and Adidas, which has partnered with the company to make a range of sustainable sneakers.
    • The intense regulatory crackdown in China continues. Yesterday, the Chinese Communist Party announced minors were forbidden to play video games for more than three hours a week (only on the weekends). Recently, state media has been rallying against video games, calling them "spiritual opium". The restrictions apply to any devices including phones and are a massive blow to the global gaming industry that caters to tens of millions of young players in the world's most lucrative market.
    • Shares of Zoom (ZM, the defining work from home stock, slid more than 15% after reporting earnings due to concerns of growth slowing down.
    • Tesla (TSLA) received regulatory approval from the Indian government that certifies all car models as "roadworthy". This is big as India is the world's second-most populous country.
    • **Please note that current stock price was written during the session and may not reflect closing prices.*\*
    • Apple (AAPL) target raised by Fundamental Research from $144 to $164 at Buy. Stock currently around $152
    • Anthem (ANTM) target raised by Morgan Stanley from $459 to $468 at Overweight. Stock currently around $375
    • BlackRock (BLK) target raised by Jefferies Financial from $1001 to $1075 at Buy. Stock currently around $942
    • Catalent (CTLT) with a host of target raises. Average price target $150 at Buy. Stock currently around $130
    • CVS Health (CVS) target raised by Morgan Stanley from $99 to $114 at Overweight. Stock currently around $86
    • Generac (GNRC) target raised by Piper Sandler from $480 to $510 at Overweight. Stock currently around $437
    • Humana (HUM) target raised by Morgan Stanley from $500 to $513 at Overweight. Stock currently around $405
    • Li Auto (LI) target raised by Bank of America from $39 to $42 at Buy. Stock currently around $30
    • LabCorp (LH) target raised by $273 to $368 at Overweight. Stock currently around $304. Stock currently around $305
    • Lowe's (LOW) target raised by Morgan Stanley from $230 to $240 at Overweight. Stock currently around $204

    "Knowing yourself is the beginning of all wisdom." - Aristotle

    submitted by /u/psychotrader00
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    16 Money Rules these Millionaires Swear By

    Posted: 31 Aug 2021 08:25 PM PDT

    Cathie Wood thinks Facebook's payment platform and currency will be as successful as Facebook Messenger was... (i.e. Not Very)

    Posted: 31 Aug 2021 04:05 AM PDT

    The growing buzz around Facebook Inc's (NASDAQ:FB) Novi wallet has not escaped the notice of Cathie Wood-led Ark Invest, which expounded on the struggles of both Novi and the associated cryptocurrency Diem.

    What Happened: Ark analyst Max Friedrich observed in Ark's latest newsletter that Novi plans to go-to-market with free person-to-person payments available within the United States and abroad.

    The analyst also took stock of further expansion plans to be ushered in on reaching a scale that includes offering financial products and services. "Plans perhaps easier in theory than in practice," the analyst wrote on Facebook's efforts.

    Backing his argument, Friedrich cited the example of Facebook Messenger, which offered free person-to-person payments without sizable success in the U.S. and other countries.

    The analyst also touched on Facebook-backed Diem cryptocurrency.

    "We believe Novi probably should launch Diem not in well-developed payments markets but instead in the cost-prohibitive remittances markets between developed and emerging currency corridors."

    Why It Matters: Last week, Diem co-creator and head of Facebook Financial David Marcus, refueled the buzz around the social media giant's cryptocurrency foray, saying that Facebook is looking at ways to enter the NFT space.

    See Also: NBA Legend Stephen Curry Pays Big Bucks For Ethereum Bored Ape Yacht Club NFT

    "When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs," he said at the time.

    https://markets.businessinsider.com/news/stocks/facebook-has-set-big-ambitions-for-digital-wallet-but-ark-says-plan-looks-easier-in-theory-than-practice-1030768909

    submitted by /u/jorlev
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    CFTC Staff Provides Temporary No Action Relief from Certain Financial Reporting Requirements to Bank Swap Dealers

    Posted: 31 Aug 2021 08:13 PM PDT

    10 Popular REITs on alreits.com

    Posted: 31 Aug 2021 07:45 PM PDT

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    Posted: 31 Aug 2021 06:43 PM PDT

    Where do I begin? Did I lose before I started?

    Posted: 31 Aug 2021 06:42 PM PDT

    Hi friends, I currently have 0 knowledge on stocks or how the stock market works. I'm 26 and Canadian and realized other than paying into CPP through work, I have not saved any money for retirement in RRSPs. As a panic impulse I opened a wealthsimple account, added 20$ into RRSP and bought 10 ($18.40) in bombardier stocks. I realize it was not a smart idea to start before I knew what I was doing. Have I already made a mistake? I am financially secure and not looking to make money "now". More of a long term retirement savings idea. Any and all advice is welcome in future stocks to buy, and where to go from here.

    submitted by /u/Octofeet
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