Wirecard CEO Markus Braun stepped down from his position over the German payment firms latest accounting scandal. Yahoo Finance’s On The Move panel shares the details....
How sweet is a 300% rally? DraftKings (NASDAQ:DKNG) investors just got that gift in a flash. The quarantine jump-started it like with a giant shot of adrenaline. After a small dip, DraftKings stock tripled in just two months, and the success should be long term.Source: Lori Butcher/Shutterstock.com But that's why investors should exercise a little patience and find better entry points. This comment will likely upset a few fans, but my concern is with the stock's price action, not the company itself.The concept is great and the bullish thesis is 100% viable. The company operates in one of the hottest concepts of late. Gaming and esports have incredible momentum, and gambling will never fall out of favor. Add to it that they are domestic and online and it's a formula for sure success for years to come. The world is now on an ultra fast pace to digitize thanks to the...
(Bloomberg) -- Some of Wirecard AG’s most-loyal shareholders have sold their stakes as allegations of accounting impropriety engulf the German payments company.Alexander Darwall, who has held Wirecard shares since at least 2007, instructed his investment firm to sell all of its holdings, while Alken Asset Management, which has owned the stock since 2008, did the same. DWS Group, which had built a Wirecard position that reached about 1 billion euros ($1.1 billion) across several funds by the end of October, has also cut its exposure.Wirecard’s Chief Executive Officer Markus Braun resigned with immediate effect on Friday, after two Asian banks that were supposed to be holding 1.9 billion euros of missing cash denied any business relationship with the company.Wirecard shares plunged as much as 52% in Frankfurt on Friday, and the stock has lost about 71% since Wednesday’s close.Darwall’s asset management firm Devon Equity Management, which manages more than 1 billion...
Saturna Capital Corporation is the investment management company of Sextant Mutual Funds. Sextant Mutual Funds recently released Q1 2020 Investor Letter, a copy of which you can download here. The Sextant Growth Fund posted a return of -15.13% for the quarter, outperforming its benchmark, the S&P 500 Index which returned -19.60% in the same quarter. […]...
If you're looking to buy shares in JDE Peet's, the newest coffee company to go public, you might find it to be a difficult task. That's because, despite the Peet's Coffee IPO raising $2.5 billion, it trades on Euronext Amsterdam, and doesn't appear to be available over the counter in the U.S.Source: Ken Wolter / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading TipsNo matter. It's still an IPO worth covering. There are several reasons why, including that the Peet's Coffee IPO raised a ton of money. Despite the difficulties buying its stock, the IPO is the second-largest in 2020, behind only the Beijing-Shanghai High-Speed Railway, which raised $4.4 billion in January and trades on the Shanghai Stock Exchange. It's interesting that a company that owns such an iconic American brand as Peet's Coffee would choose to list in Europe and not the U.S. It must have been the...
Carnival Corp (NYSE: CCL) will likely be able to fund its requirements until early next year, even with a pause in its operations, according to BofA Securities.The Carnival Analyst: Geoffrey d'Halluin maintained a Neutral rating for Carnival and raised the price target from 1,000 pence ($12.62) to 1,500 pence ($19). The Carnival Thesis: Carnival announced soft preliminary results for the second quarter on Thursday due to the suspension of operations for most of the quarter, and there is low visibility into when cruise operations will resume, d'Halluin said in a Thursday note.Carnival's liquidity position and estimated cash burn suggest that the company will be able to fund itself at least until early next year, even if its operations do not resume, the analyst said. Carnival estimates a monthly cash burn rate of around $650 million in the second half of 2020, lower than its previous $1-billion estimate, he said.The company ended...
