In May, J.C. Penney filed for bankruptcy. And yet, since May 20, JCP stock -- which now trades under the ticker, JCPNQ, to symbolize J.C. Penney's bankrupt nature -- has essentially doubled.Source: Supannee_Hickman / Shutterstock.com Why?Unchecked, and largely unwarranted, speculation.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn essence, traders appear to be doing one of two things. They are either: 1) playing a dangerous game of "The Greater Fool" wherein traders are just buying JCP stock on the idea that someone else will buy it from them at a higher price in the future, and/or 2) betting on the idea that J.C. Penney's real estate is worth enough to pay off creditors and still have some money left over for common shareholders.The first dynamic isn't sustainable. The second idea is just plain wrong. * 10 Robotics Stocks on the Technological Cutting Edge So do yourself a favor and stop...
On CNBC's "Mad Money Lightning Round," Jim Cramer said there is no need to trade out of Upwork Inc (NASDAQ: UPWK). He likes the stock.General Electric Company (NYSE: GE) is entering a restructuring mode and it probably won't have anything good to say until 2021, explained Cramer. He added that a patient person could get a payoff.Instead of Goodyear Tire & Rubber Co (NASDAQ: GT), Cramer would rather buy AutoZone, Inc. (NYSE: AZO).Cramer prefers Zillow Group Inc (NASDAQ: ZG) over CoStar Group Inc (NASDAQ: CSGP).U.S. Auto Parts Network, Inc. (NASDAQ: PRTS) is up too much, said Cramer. He wants to do more work on the stock before he makes a recommendation.Goldman Sachs Group Inc (NYSE: GS) has got some upside, thinks Cramer. His charitable trust owns it and he would hold on to it.See more from Benzinga * Cramer Shares His Thoughts On Teva, Oxford Industries And More(C) 2020 Benzinga.com. Benzinga...
(Bloomberg) -- Markus Braun’s almost two decades as Wirecard AG’s chief executive officer ended after accusations about the company’s accounting culminated in a shock disclosure that it was unable to locate 1.9 billion euros ($2.1 billion).James Freis has been appointed interim CEO, the German payments company said in a short statement Friday. A recent hire and former compliance executive at Deutsche Boerse AG, Freis was only named as a member of the management board on Thursday.Braun’s exit comes after a catastrophic few days for Wirecard, which suffered a share price collapse after the two Asian banks that were alleged to be holding the missing cash denied any business relationship with the company.Read More: Germany’s Fintech Star Falls on Failure to Clean Up WirecardWirecard is now facing a potential cash crunch. The company warned Thursday that loans as much as 2 billion euros could be terminated if its audited annual report is...
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. […]...
Tesla Inc (NASDAQ: TSLA) recently broke the 400-mile battery charge threshold. Its closest competitor is now 100 miles behind."We believe Tesla has a competitive advantage in batteries that is under-appreciated by investors. In the future, we expect that advantage to widen," Loup Ventures managing partner Gene Munster wrote in a note. "Bottom line: Tesla's lead in batteries is sustainable and other auto OEMs will struggle to gain measurable ground on the company's 80% US EV market share."Why Does Tesla Lead? Tesla's edge over auto peers comes from its (expensive) interest in vertical integration."The most significant advantage is that product design cycle times decrease, which quickens the pace of innovation, which is Tesla's central competitive moat," Munster wrote. "Additionally, the end product typically yields better performance and reliability compared to products built with horizontal integration."So far, the strategy has resulted in superior vehicle range. As Loup sees it, Tesla could maintain its...
