Greg Valliere AGF investments Chief U.S. Policy Strategist joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss the takeaways from last night’s primary elections....
(Bloomberg) -- Hertz Global Holdings Inc. could flip its roughly 150,000-car inventory as it looks to stay afloat after filing for bankruptcy last month, according to analysts at Jefferies.Channel checks suggest used-car firms like CarMax Inc. and AutoNation Inc. could be among those eyeing Hertz in bankruptcy amid a rise in demand for used cars, analysts led by Hamzah Mazari and Bret Jordan wrote in a note to clients. The move could help ease some pressure for Hertz, as a sale of its used-car fleet would shore up some cash concerns and could fetch about $3 billion, the analysts said.Shares of Hertz, which have drawn particular interest from small-time investors, rallied as much as 32% on the speculation Wednesday. The bankrupt car renter’s stock surged roughly tenfold to top $5.50 a piece earlier this month, before sliding back toward record lows.Another less probable option for the company would be to see...
Nio Inc's - ADR (NYSE: NIO) June rally has prompted an analyst at Goldman Sachs to move to a cautious stance.The Nio Analyst: Fei Fang downgraded Nio from Buy to Neutral and hiked the price target from $6.40 to $7. The Nio Thesis Nio shares have advanced over 50% since Goldman's June 3 upgrade versus a mere 3% gain by the MSCI China Index, Feng said in a Wednesday downgrade note. (See the analyst's track record here.)Since the upgrade, Nio has completed an 82.8-million-ADS offering, including the green shoe option, at $5.95 per ADS, raising net proceeds of $475 million, the analyst said.This was about 77% higher than Goldman's estimated inflow, which the sell-side firm said removes the liquidity risks between now and the electric vehicle manufacturer's expected break-even point in 2022. Luxury car penetration in China is accelerating at a faster-than-expected rate in 2020, Fang said. Goldman has increased its...
