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TipRanks
Morgan Stanley Storms Into the EV Space; Offers 2 Stocks to Buy
We are indeed living in interesting times – and in many ways, that’s a good thing. Take the automotive industry, for example. Technology is changing a rapid pace, and when it settles, it will dramatically change the way we drive. In 2030, our concept of ‘car’ will likely be unrecognizable to drivers from 1980. The biggest changes are coming from power systems and artificial intelligence. AI will bring autonomous tech to our cars, making self-driving vehicles a reality. But the power systems changes will hit us first. In fact, electric-drive vehicles are already on our roads, and electric vehicle (EV) companies are proliferating rapidly. For the moment, there are several roads to potential success in the EV market. Companies are working to position themselves as leaders in battery tech, or electric power trains, or to maximize their range and performance per charge. It’s a fact-paced industry environment, offering both opportunity and excitement for investors. Smart investors will look for companies capable of meeting scaling demands, once they have settled on marketable models. Investment firm Morgan Stanley has been watching the EV industry, seeking out innovative new design and production companies that are positioning themselves for gains as the market matures. The firm’s automotive analyst, Adam Jonas, has selected two stocks that investors should seriously consider buying into, saying “As we survey the EV/battery startup landscape, we are prioritizing highly differentiated technology and/or business models with a path to scale at a reasonable level of risk.” Opening up the TipRanks database, we’ve pulled up the details on both of Jonas’ picks to see whether they could be a good fit for your portfolio. Fisker (FSR) First up, Fisker, is based in Southern California, the epicenter of so much of our ground-breaking tech industries. Fisker’s focus is on solid-state battery tech, a growing alternative to the lithium-ion batteries that most EVs depend on. While more expensive that the older lithium-based systems, solid state batteries are safer and offer higher energy densities. Fisker has been busy patenting its moves into solid-state batteries, a sound strategy to lock in its advances in this field. For EVs, solid-state batteries offer faster charging times, longer range per charge, and potentially lower battery weight – all important factors in vehicle performance. Every car company needs a flagship model, and Fisker has the Ocean – an EV SUV with a mid-range price ($37,499) and a long-range power system (up to 300 miles). The vehicle features stylish design and room mounted solar panels to supplement the charging system, and is scheduled to enter serial production for the markets in 2022. The stylish design reflects the sensibilities of the company’s founder, Henrik Fisker, known for his work on the BMW Z8 and the Aston Martin DB9. Fisker entered the public markets through a SPAC merger agreement last fall. Since completing the SPAC transaction on October 29, shares in FSR are up 112%. Morgan Stanley’s Jonas is impressed by this company, describing the ‘value proposition of Fisker’ as “…design, time to market, clean sheet user experience and management expertise,” and saying that the 4Q22 launch schedule for the Ocean is likely to be met. “Fisker is specifically targeting the personal owned/passenger car business as opposed to commercial oriented end markets, where emotive design and user experience matter more. Additionally, the company wants to create an all-digital experience from the website to the app to the HMI in the car and continued customer engagement through its flexible lease product,” Jonas added. In line with his upbeat outlook on the company (and the car), Jonas rates Fisker an Overweight (i.e. Buy), and sets a $27 price target suggesting an upside of 42% for the coming year. (To watch Jonas’ track record, click here) Turning to the TipRanks data, we’ve found that Wall Street’s analysts hold a range of views on Fisker. The stock has a Moderate Buy analyst consensus rating, based on 7 reviews, including 4 Buys, 2 Holds, and 1 Sell. Shares are currently priced at $18.99, and the $21.20 average price target implies a one-year upside of ~12%. (See FSR stock analysis on TipRanks) QuantumScape (QS) Where Fisker is working on solid-state batteries in the context of vehicle production, QuantumScape is setting itself up as a leader in EV battery technology and a potential supplier of the next generation of battery and power systems for the EV market. QuantumScape designs and builds solid-state lithium-metal batteries, the highest energy density battery system currently available. The key advantages of the technology are in safety, lifespan, and charging times. Solid-state batteries are non-flammable; they last longer than lithium-ion batteries, with less capacity loss at the anode interface; and their composition allows faster charging, of 15 minutes or less to reach 80% capacity. QuantumScape is betting that these advantages will outweigh the technology’s current higher cost, and create a new standard in EV power systems. The company’s strongest tie to the EV production field is its connection with Volkswagen. The German auto giant put $100 million into QuantumScape in 2018, and an additional $200 million in 2020. The two companies are using their partnership to prepare for mass-scale development and production of solid-state batteries. Like Fisker, QuantumScape went public through a SPAC agreement late last year. The agreement, which closed on November 27, put the QS ticker in the public markets – where it promptly surged above $130 per share. While the stock has since slipped, it remains up 47% from its NYSE opening. For Morgan Stanley’s Jonas, involvement in QS stock comes with high risk, but also high potential reward. In fact, the analyst calls it, “The Biotech of Battery Development.” “We believe their solid state technology addresses a very big impediment in battery science (energy density) that, if successful, can create extremely high value to a wide range of customers in the auto industry and beyond. The risks of moving from a single layer cell to a production car are high, but we think these are balanced by the commercial potential and the role of Volkswagen to help underwrite the early manufacturing ramp,” Jonas explained. Noting that QS is a stock for the long haul, Jonas rates the shares an Overweight (i.e. Buy), and his $70 price target indicates confidence in an upside of 28% for one-year time horizon. Granted, not everyone is as enthusiastic about QS as Morgan Stanly. QS’s Hold consensus rating is based on an even split between Buy, Hold, and Sell reviews. The shares are priced at $54.64 and their recent appreciation has pushed them well above the $46.67 average price target. (See QS stock analysis on TipRanks) To find good ideas for EV stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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Benzinga
What Keystone Pipeline Cancellation Means For Crude-by-rail
President Joe Biden’s revocation of the March 2019 permit enabling the construction of the Keystone XL pipeline will likely result in more crude-by-rail volumes, according to industry observers. But how much volumes will increase could largely depend on the price that heavy crude oil can fetch in the global market. “The cancellation of the Keystone pipeline project was inevitable once the government changed. Despite its merits or drawbacks, it is now a deflated political football,” said Barry Prentice, University of Manitoba supply chain management professor and former director of the Transport Institute there. “This means that more crude will have to move by rail. The huge investments in the oil sands will not be abandoned, and the oil has to go somewhere.” But crude-by-rail “has been problematic because with the low price for oil, and the relatively higher price for rail transport, nothing looks very appealing. The problem is not oil supply, it is the reduced demand during the pandemic. Once we come out of this period, demand will return, and $100-per-barrel oil will, too,” Prentice said. Indeed, the oil markets serve as one highly visible factor determining how much crude gets produced and shipped. For the production and transport of heavy crude oil from western Canada and the U.S. to be profitable, the pricing spread between a heavy crude product such as Western Canadian Select (WCS) and a light, sweet crude such as West Texas Intermediate (WTI) needs to be favorable. WCS crude is typically priced at a discount against WTI crude because of its lower quality and its greater distance from the U.S Gulf Coast refineries. The COVID-19 pandemic was among the factors that contributed to WTI crude oil prices’ tailspin in 2020. Why the interest in crude oil production and transport? The oil market isn’t the only factor that dictates crude oil production and its subsequent transport. Another is the vast oil reserves and the amount of investment already directed into crude oil production, as well as crude oil’s export prospects. According to the government of Alberta, the province’s oil sands represent the third-largest oil reserves in the world, following Venezuela and Saudi Arabia. Its reserves equal about 165.4 billion barrels, and capital investments to the upstream sector have equaled as much as $28.3 billion in 2016 and $26.5 billion in 2017. Furthermore, according to Natural Resources Canada, 98% of Canada’s crude oil exports in 2019 went to the U.S. Those investments and vast oil reserves have also resulted in significant investments in other areas of the energy sector, including investments in pipelines. The pipelines bring Canadian heavy crude south to U.S. refineries because American refineries were built and optimized to mostly handle heavier crude oil, according to Rob Benedict, senior director of petrochemicals, transportation and infrastructure for the American Fuel and Petrochemical Manufacturers Association. Crude oil pipelines from Canada to the U.S. have been viewed as an efficient way to transport large amounts of Canadian heavy crude oil to U.S. Gulf Coast refineries. TC Energy’s 1,210-mile Keystone XL pipeline would have had a capacity of 830,000 barrels per day with crude oil originating from Hardisty, Alberta, and heading to Steele City, Nebraska, where it would then be shipped to U.S. Gulf Coast refineries. Had construction continued, the pipeline would have entered service in 2023. But TC Energy abandoned the project after Biden revoked an existing presidential permit for the pipeline in January. “TC Energy will review the decision, assess its implications, and consider its options. However, as a result of the expected revocation of the Presidential Permit, advancement of the project will be suspended.The company will cease capitalizing costs, including interest during construction, effective January 20, 2021, being the date of the decision, and will evaluate the carrying value of its investment in the pipeline, net of project recoveries,” TC Energy said in a release last month. The Keystone XL pipeline “is an essential piece that would have allowed Canada and the U.S. to continue the very good relationship they have with transporting energy products across the border,” Benedict said. However, suspending pipeline construction doesn’t necessarily translate into a one-for-one increase in crude-by-rail volumes, according to Benedict. “The gist of the story is, it’s going to have some impact on crude-by-rail. It’s not going to shift all 830,000 barrels per day onto the rails, but any additional amount is potentially going to have some impact,” Benedict said. Several factors will influence how much crude moves by rail. In addition to the WCS/WTI price spread, the railways’ capacity to handle crude-by-rail is crucial. Not only are there speed restrictions for crude trains and possible social ramifications, there also capacity issues. The Canadian railways have reported record grain volumes over the past several months, and crude volumes must compete with grain, as well as other commodities, for the same rail track. There are also other pipelines between Canada and the U.S. that could take some of the volumes that would have been handled by the Keystone XL pipeline, Benedict said. Those include Endbridge’s (NYSE: ENB) Line 3 pipeline, which runs from Canada to Wisconsin; Endbridge’s Line 5 pipeline, which runs under the Strait of Mackinac and Lake Michigan to the Michigan Peninsula; and the Trans Mountain pipeline that’s under development in Canada. It would run from Alberta to the Canadian West Coast and then potentially south to U.S. refineries. And one other factor that could influence crude-by-rail is how much crude oil volumes go into storage, Benedict said. “It’s not just a simple question of, does one pipeline being shut down ship all to rail? It’s complex because you have to consider all the different nodes of the supply chain, including storage that would come into play,” Benedict said. The Canadian railways’ views on crude-by-rail For their part, Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) have both said they expect to ship more crude volumes, but neither has indicated just how much volumes will grow. CP said during its fourth-quarter earnings call on Jan. 27 that it has been seeing increased activity as price spreads have become favorable. The railway also expects to begin moving crude volumes from a diluent recovery unit (DRU) near Hardisty, Alberta. US Development Group and Gibson Energy had agreed to construct and operate the DRU in December 2019. As part of that agreement, ConocoPhillips Canada will process the inlet bitumen blend from the DRU and ship it via CP and Kansas City Southern (NYSE: KSU) to the U.S. Gulf Coast. “These DRU volumes will provide a safer pipeline-competitive option for shippers and will help to stabilize our crude business into the future,” CP Chief Marketing Officer John Brooks said during the earnings call. CP President and CEO Keith Creel also said he sees U.S. actions on the Keystone pipeline as benefiting crude-by-rail and the DRU volumes. The actions “bode for more strength and more potential demand for crude. We think it creates more support for scaling up and expansion of the DRU. So, we’re bullish on that opportunity,” Creel said. He continued, “We still see the short-term, not long-term … pipeline capacity [eventually] catch up [but] we just think there is a longer tail on it right now. So, we think there’s going to be a space for some potential upside in both spaces.” Meanwhile, in a Jan. 27 interview with Bloomberg, CN President and CEO JJ Ruest called crude-by-rail a “question mark” in terms of what energy outlook the railway is seeing for 2021. Ruest said low oil prices, decreased travel and the Keystone pipeline cancellation are among the factors influencing CN’s energy outlook. However, crude-by-rail could be a “slight positive bump on the rail industry,” Bloomberg quoted Ruest as saying. CP and CN declined to comment further to FreightWaves about crude-by-rail, and CN directed FreightWaves to the Bloomberg article. Subscribe to FreightWaves’ e-newsletters and get the latest insights on freight right in your inbox. Click here for more FreightWaves articles by Joanna Marsh. Related articles: Social risk trumps financial risk for Canadian crude-by-rail Transport Canada issues new speed restrictions for trains hauling dangerous goods Construction of Alberta crude unit expected to start in April Commentary: Railroad tank cars take a hit See more from BenzingaClick here for options trades from BenzingaForward Air Doubles Down Amid Heightened Interest From ActivistsDrilling Deep: Reviewing Q4 Earnings; How Did Werner Do So Well?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Benzinga
GE Declares Regular Quarterly Dividend
In Friday’s after-hours session, General Electric Company (NYSE: GE) declared a 1-cent per share dividend, applicable for the outstanding common stock of the company. The dividend is payable on April 26, 2021, to shareholders of record at the close of business on March 8, 2021. The ex-dividend date is March 5, 2021. General Electric is known for its digital industrial offerings and massive installed base spread across a variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment, among others. After the sale of GE Transportation to Wabtec and a majority of its stake in Baker Hughes, as well as the sale of GE Biopharma to Danaher, the company’s focus turns to aviation, legacy healthcare, power and renewable energy. Shares of GE closed 2.36% higher Friday at $11.73. The stock has a 52-week high of $13.16 and a 52-week low of $5.48. See more from BenzingaClick here for options trades from BenzingaMark Zuckerberg Told Facebook Staff In 2018 To ‘Inflict Pain’ On Apple: ReportElon Musk On Joe Rogan Shares Details On What A Tesla Van Will Look Like© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Investopedia
Estate Taxes: Who Pays? And How Much?
Our guide to estate taxes includes U.S. federal, state, and inheritance tax rules. Discover who pays and how much you might owe in estate taxes.
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Financial Times
US ETF investors mainly motivated by tax loophole, study shows
A shift in US investor flows away from mutual funds towards exchange traded funds is being driven primarily by a tax loophole, rather than any inherent advantage of the ETF structure, a team of academics has concluded. In the past decade, US investors have pulled $1tn from actively managed US mutual funds, with a similar amount flowing into ETFs. Although the mutual fund sector is still far larger, the majority of US mutual fund ranges have seen net outflows every year since 2014, according to the Investment Company Institute, even as about three-quarters of ETFs have seen inflows.
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Benzinga
The Largest US Companies By Revenue During The Last 12 Presidential Administrations May Surprise You
Democrat Joe Biden officially took over as the 46th U.S. president in January. Biden is taking over a U.S. economy that is increasingly technology-centric. In fact, the top five largest companies in the market today by market cap are all technology companies, including Apple, Inc. (NASDAQ: AAPL), the world’s most valuable public company. While stock price and market cap are an important measure of a company’s value, it’s not necessarily a reflection of the size of the actual company. For example, Tesla, Inc (NASDAQ: TSLA) has a market cap of $779 billion compared to just a $44.7-billion market cap for Ford Motor Company (NYSE: F). Yet Ford’s actual business dwarfs Tesla’s. Ford reported $127 billion in revenue in 2020 compared to only $31.5 billion for Tesla. Related Link: This 2009 Playbook Suggests Trouble Ahead For The S&P 500 Looking Beyond Market Cap: According to the Fortune 500 list, Apple may be the most valuable company in the market by market cap in the Biden era, but it’s not the largest when it comes to revenue. The U.S. company now generating the most revenue isn’t even a tech stock. Here’s a look back at the largest U.S. companies by annual revenue when each of the last 12 U.S. presidents took office. John F. Kennedy (D) Inauguration: 1961 Largest American company: General Motors Company (NYSE: GM), $12.7 billion in revenue. Lyndon Johnson (D) Inauguration: 1963 Largest American company: General Motors, $14.6 billion in revenue. Richard Nixon (R) Inauguration: 1969 Largest American company: General Motors, $22.7 billion in revenue. Gerald Ford (R) Inauguration: 1974 Largest American company: General Motors, $35.7 billion in revenue. Jimmy Carter (D) Inauguration: 1977 Largest American company: Exxon Mobil Corporation (NYSE: XOM), $48.6 billion in revenue. Ronald Reagan (R) Inauguration: 1981 Largest American company: Exxon Mobil, $103.1 billion in revenue. George H. W. Bush (R) Inauguration: 1989 Largest American company: General Motors, $121 billion in revenue. Bill Clinton (D) Inauguration: 1993 Largest American company: General Motors, $132.7 billion in revenue. George W. Bush (R) Inauguration: 2000 Largest American company: General Motors, $189 billion in revenue. Barack Obama (D) Inauguration: 2008 Largest American company: Walmart Inc (NYSE: WMT), $377 billion in revenue. Donald Trump (R) Inauguration: 2016 Largest American company: Walmart, $482.1 billion in revenue. Joe Biden (D) Inauguration: 2021 Largest American company: Walmart, $523.9 billion in revenue. Benzinga’s Take: The stock market is certainly a major part of the U.S. economy, but it’s not everything. For example, politicians and voters are always concerned with jobs numbers, and market cap can be deceiving when it comes to gauging the actual size of a company. Apple may have a $2.2-trillion market cap, but it has only around 147,000 employees. Walmart, on the other hand, has more than 2.2 million employees. See more from BenzingaClick here for options trades from Benzinga,000, 5 Years Later: GM Stock Takes The Slow Road, But Finds Its Way© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Financial Times
Texas starts blackouts as frigid weather sends power prices surging
The Texas grid operator began rolling blackouts early on Monday as arctic air enveloped the central US and sparked record demand for power. The Electric Reliability Council of Texas told consumers that the need to conserve electricity had become “critical” after earlier asking homes and businesses to reduce demand “as much as possible” until Tuesday as it coped with frigid conditions that drained electricity supplies. At 1:25am local time it announced it would begin “rotating outages” to “reduce demand on the electric system”.
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Benzinga
Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap. In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of February 8th – 14th, 2021. Without further ado, let’s get started. * Yahoo Finance readers, please click here to view the full article. 10. Pot Stocks Cap Off Week of Euphoric Gains, Top 30 Performers of the Week and YTD 2021 Investor euphoria in the cannabis sector reached a fever pitch this week as pot stocks went parabolic, producing gains of up to 238.89% in a span of just 3 days It’s official; the American Cannabis Boom 2.0 is in full flight as major market catalysts in the form of U.S. federal Marijuana reforms appear imminent. With federal legalization in the U.S. inching closer to becoming a reality, money is pouring into the Cannabis market like never before, and as a result, Pot Stocks have already seen astonishing YTD 2021 gains of up to 359.37%, 694.78% and 945.71%. READ FULL TOP POT STOCKS ARTICLE HERE 9. Psychedelics Advocate, Investor Zappy Says 2021 is ‘The Year to Invest in Plant Medicine’ Get Into Psychedelics Now, That’s According to Michael “Zappy” Zapolin, a Former Bear Stearns VP Turned Psychedelics Advocate and Filmmaker Zappy’s call to invest comes as Psychedelics make a continued push towards credibility on the medical, legal and business stages. The market — projected to be valued at over $6.8 billion in North America by 2027 — is currently led by MindMed (OTCQB: MMEDF), Cybin Inc. (OTC: CLXPF), Field Trip Health (OTC: FTRPF). Last month, the first Psychedelics ETF — Horizons Psychedelic Stock Index ETF (NEO: PSYK) — began trading on the Canadian NEO Exchange. This is fertile ground for Zappy, who has a track record of getting in on the ground floor. READ FULL PSYCHEDELICS INVESTING ARTICLE 8. Portnoy Flips Sundial Growers For K Profit: ‘That’s How You Do It Boys’ On Thursday Morning, Portnoy Tweeted That He Was “Back in $SNDL Cause I Love the Rush.” and About 25 Minutes Later, Portnoy Indicated He Had Flipped the Volatile Stock for a Big Gain Sundial Growers (NASDAQ: SNDL) shares traded down 14% on massive volume in an extremely volatile trading session on Thursday after the company became one of the latest stocks targeted by communities of online retail stock traders, led by the Reddit WallStreetBets community. Barstool Sports founder Dave Portnoy took a major bath on his first round of WallStreetBets meme stock buys, but Portnoy said he made a quick $50,000 getting in and out of Sundial on Thursday. READ FULL PORTNOY SUNDIAL ARTICLE 7. COMPASS Pathways Expands its Discovery Center Through New Collaborations With World-Leading Scientists Adam Halberstadt and John McCorvy Join Jason Wallach to Develop New Psychedelic Compounds at the Virtual Discovery Center Compass Pathways (NASDAQ: CMPS) announced that it has expanded its Discovery Center, through collaborations with world-leading laboratories at UC San Diego, School of Medicine, and Medical College of Wisconsin (MCW). Adam Halberstadt PhD, Associate Professor, Psychiatry, UC San Diego, and John D McCorvy PhD, Assistant Professor, Department of Cell Biology, Neurobiology and Anatomy, MCW, and their teams, will join Jason Wallach PhD, Assistant Professor of Pharmaceutical Sciences, University of the Sciences (Philadelphia), at the Discovery Center, a group of researchers working together, virtually. READ FULL COMPASS PATHWAYS ARTICLE 6. Red White & Bloom Arranges Approximately US$13.5 Million to Finance its Closing Costs for Illinois Acquisition RWB Received an $8 Million Warrant Exercise From an Institutional Investor and Signed an Irrevocable $7 Million Non-Convertible Debenture Unit Financing Commitment Red White & Bloom (OTCQX: RWBYF) announced that it has arranged the required cash for the closing of its previously announced acquisition of an Illinois Adult Use and Medical Cannabis Cultivation Center License and Associated Assets. Upon closing, and subject to regulatory approval, the Company intends to introduce both its Platinum Vape and High Times branded products into the Illinois market. “Surpassing USD $1 billion of adult-use sales in only its first year, Illinois has quickly developed into one of the most robust revenue markets in the United States. With the financing now secured, we are thrilled to be one step closer to bringing Red White & Bloom’s nationally-recognized brands to this market. The renewed optimism around the State permitting an additional 75 retail locations further highlights the enormous opportunity Illinois offers.” READ FULL RED WHITE & BLOOM ARTICLE 5. Creso Pharma Makes Move to Accelerate Sales Growth and Increase Profit Margins In Response to a Growing Trend of Direct Inbound cannaQIX Sales Enquiries, Creso is Officially Taking Over the Reins From its Swiss Commercial Partner Doetsch Grether Creso Pharma (OTC: COPHF) announced that the company has brought the sales and marketing of its cannaQIX product inhouse. By doing so, Creso Pharma will be able to improve its profit margin on the product substantially. The move will also set the stage for Creso to extend existing product lines and launch new products such as cannaDOL in Switzerland. READ FULL CRESO PHARMA ARTICLE 4. Incannex Shares Jump as Cannabis/Psychedelic Pharma Company Explores Dual Listing on NYSE or NASDAQ The Timing Seems Right, as Both the Cannabis and Psychedelic Sectors Certainly Seem in Vogue at the Moment, Following Efforts at Regulatory Reform and Increasing Acceptance Around the Globe Incannex Healthcare (FRA: IQI) has announced it will explore a dual listing in the United States, a pioneering step that would give the pharmaceutical development company access to the world’s largest pool of capital as it works to develop cannabis and psychedelic-based therapies. Incannex shares nearly reached a seven-year high after the Melbourne-based company said it had signed EAS Advisors on as consultants to introduce it to U.S. banks and institutions. The aim is to obtain a dual listing on the New York Stock Exchange (NYSE) or the NASDAQ, while also retaining an ASX listing. READ FULL INCANNEX ARTICLE 3. Aurora Posts Q2 Earnings, Touts 562% Spike in ‘International Medical’ Cannabis Sales Total Cannabis Net Revenue Hovered $70.3 Million, Excluding Provisions of $2.7 Million, up 11% Over the Second Quarter of 2020 Aurora Cannabis (NYSE: ACB) released its second-quarter fiscal 2021 Earnings report Thursday afternoon. Here’s what we learned: Medical Cannabis net revenue reached $38.9 million — up 42% versus the second quarter of 2020. That jump was due to a 562% increase in high margin international medical sales. Aurora experienced an adjusted EBITDA loss of $12.1 million. That’s an improvement of $53.1 million over the second quarter of 2020. READ FULL AURORA CANNABIS ARTICLE 2. MindMed Signs Partnership With Swiss Psychedelic Drug Discovery Startup MindShift Compounds AG, Expands Development Pipeline and IP Portfolio with Next-Gen Psychedelic and Empathogenic Compounds As Part of This Partnership, MindMed and MindShift Compounds AG Have Agreed to Develop Next-Gen Psychedelic and Empathogenic Substances Together MindMed (OTCQB: MMEDF) (FRA: MMQ) announced a new partnership with Swiss startup MindShift Compounds AG to develop and patent next-gen Psychedelic compounds with psychedelic or empathogenic properties. The first initial compounds have already been synthesized by MindShift Compounds AG and related patent applications were filed by MindMed. MindMed plans to begin first-in-human Phase 1 clinical trials as early as Q1 2022 through its existing clinical trial platform for psychedelic and empathogenic compounds in Switzerland. READ FULL MINDMED ARTICLE 1. Why Cannabis MSOs Will ‘Outperform S&P 500’ in 2021 Top Cannabis Analyst Pablo Zuanic’s New Estimates Reflect Cantor Fitzgerald’s State-by-State Market Size Assumptions Most U.S. Multi-State Operators (MSOs) will outperform the S&P500 in the year ahead, according to Cantor Fitzgerald analyst Pablo Zuanic. A few standouts in Zuanic’s Thursday note on the space include Ayr Strategies (OTCQX: AYRSF), Green Thumb ((OTCQX: GTBIF) and Jushi Holdings (OTCQB: JUSHF). READ FULL CANNABIS MSOS ARTICLE ‘Photo by Matthew Brodeur on Unsplash See more from BenzingaClick here for options trades from BenzingaCannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The WeekCannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Benzinga
Cramer Gives His Opinion On Zoom, AbbVie And More
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Zoom Video Communications, Inc. (NASDAQ: ZM) is good. It is still down a lot from its highs, but it is having a good quarter and it is a staple, he added. Cramer would be a buyer of DuPont de Nemours Inc (NYSE: DD) at its current price. He sold his position at $86 and he is buying back right here. Ageagle Aerial Systems Inc (NYSE: UAVS) is an exciting stock, but please recognize it as a spec, said Cramer. For an easier way to own drones, he is recommending Honeywell International Inc. (NYSE: HON). Cramer would buy the weakness in Affirm Holdings Inc (NASDAQ: AFRM). He said Max Levchin will do well with Affirm. You want to own General Electric Company (NYSE: GE), said Cramer. He sees the stock at $15 if it gets orders from Boeing. Travel has to start for Boeing orders to happen, he noted. AbbVie Inc (NYSE: ABBV) is a bargain, said Cramer. People are not using botox as they used to, but Cramer finds its migraine franchise amazing. With AT&T Inc. (NYSE: T), you are reaching for yield, but it doesn’t offer any peace of mind, said Cramer. NVIDIA Corporation (NASDAQ: NVDA) is maybe the crown jewel semiconductor company in the world, said Cramer. He would own the stock. See more from BenzingaClick here for options trades from BenzingaCramer Advises Viewers On XL Fleet, InterDigital And MoreMike Khouw Sees Unusual Options Activity In PayPal© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Financial Times
Bitcoin’s rise reflects America’s decline
The asset I’m referring to is gold priced in Weimar marks. In his newsletter Tree Rings, analyst Luke Gromen looked at the startling similarities in the volatility of gold in Weimar Germany and bitcoin today. Central bankers have over the past 10 years (or the last few decades, depending on where you put the marker) quashed price discovery in markets with low interest rates and quantitative easing.
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TheStreet.com
Bearish Bets: 2 Downgraded Stocks You Should Consider Shorting This Week
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet’s Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
