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(Bloomberg) -- The New York Stock Exchange has set a reference price of $7.25 for the direct listing of Palantir Technologies Inc., the data mining company co-founded by technology billionaire Peter Thiel.No shares change hands at the reference price, though it acts as a guide to investors and is determined based on recent secondary trading performance. At $7.25 a share, Palantir would have a market value of about $16 billion on a fully diluted basis. The reference price doesn’t dictate where the shares will start trading and at what Palantir’s actual valuation will be.That’s less than the $20.8 billion to $28.2 billion that some analysts had estimated, according to research notes.Peter Thiel Tightens His Grip on Palantir Ahead of Stock ListingPalantir, which won’t raise any proceeds, will begin trading on Wednesday alongside workplace management software firm Asana Inc., which is also set to debut through a direct listing.Palantir and Asana are...
“Tim has brought unparalleled innovation and focus to his role as CEO and demonstrated what it means to lead with values and integrity," Apple's board of directors said in a statement. "For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward.” Cook is in the ninth year of his 10-year grant from 2011....
Muddy Waters Research is betting against Nano-X Imaging Ltd. (NASDAQ:NNOX), saying that the company has "important similarities" with Nikola. In a research report, the investment firm writes that NNOX has "no product to sell other than its stock." NNOX is a medical imaging technology company that has ensured cost-reduced imaging system. Muddy Waters believes that the […]...
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of June 30th, when the S&P 500 Index was trading around the […]...
Allison Transmission has a new lubricant spec for its automatic transmissions, and Petro-Canada is the first oil company to meet it. The new DuraDrive HD Synthetic 668 will be the factory fill in Allison automatic transmissions starting Jan. 1, 2021. ...
If you are looking for another successful biotech story in 2020, then look away now. Shares of Amarin (AMRN) have been under the cosh this year, as the company has battled its way through the courts to no avail.Amarin lost a patent case, and then its appeal too, against generic drug makers Hikma Pharmaceuticals and Dr. Reddy’s, who have their own plans for versions of Amarin’s high triglyceride treatment Vascepa. Investors have jumped ship in the meantime, sending shares down by a mighty 80% year-to-date.But conversely, if you are looking to pick up some shares on the cheap, SBV Leerink analyst Ami Fadia believes Amarin presents a compelling opportunity.The analyst reiterated an Outperform (i.e. Buy) rating on AMRN shares, while raising the price target from $9 to $12. Investors are looking at hefty upside of 200% from current levels. (To watch Fadia’s track record, click here)While Amarin’s hopes for a U.S....
