The reopening of the Las Vegas Strip has gone relatively well for casino operators since resorts began opening back up last week.Even more properties returned to operations this week, but the latest room rate numbers suggest Vegas still has a long way to go in recovering from its shutdown, according to BofA Securities.What Happened? A limited number of Las Vegas casinos opened back up starting June 4, and initial demand was strong enough for operators to expand those openings ahead of schedule this week.Unfortunately, Vegas Strip operators Las Vegas Sands Corp. (NYSE: LVS), MGM Resorts International (NYSE: MGM), Wynn Resorts, Limited (NASDAQ: WYNN) and Caesars Entertainment Corporation (NASDAQ: CZR) are all seeing extreme declines in hotel room rates, BofA analyst Shaun Kelley said in a Friday note. As of Friday, Wynn and Las Vegas Sands have all their Strip properties open. MGM is planning to reopen Luxor on June 25 and...
Simon Freakley, AlixPartners CEO, joins Yahoo Finance's Alexis Christoforous and Brian Sozzi to discuss the outlook for retailers as they struggle to find the road to recovery following COVID-19....
In this article we will take a look at whether hedge funds think Workhorse Group, Inc. (NASDAQ:WKHS) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]...
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]...
Electric car stocks are on fire.Over the past year, the KraneShares Electric Vehicle and Future Mobility ETF (NYSEARCA:KARS) is up nearly 30%, versus a mere 5% gain for the S&P 500. This move comes on the back of optimism that rising consumer awareness, coupled with strengthening government support, will drive 36% growth in electric vehicle sales to record high levels in 2021.While those numbers -- a 30% gain for electric car stocks and a 36% rise in electric vehicle sales -- may seem huge, this is just the beginning. The numbers will only get way bigger over the next 10 years.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe reality is that this is the beginning of the future of transportation. Diesel cars on their way out. Electric cars on their way in.Over the next decade, this shift will only accelerate as battery tech improves driving ranges, battery charging infrastructure...
The airline industry has been on fire, surging higher as American Airlines (NASDAQ:AAL) stock led the rally. United Airlines (NASDAQ:UAL) didn't miss out either, with UAL stock ripping 169% from the May lows.Source: NextNewMedia / Shutterstock.com While the stock is pulling back, shares are still up about 120% from those lows, as investor optimism climbed considerably in a short period of time. Helping to fuel that optimism has been part of the "reopening America" trade.I have been noting this trade for a few weeks now, as everything from cruise operators to restaurant stocks have come roaring back to life. But that's what this is -- a trade -- not an investment. There is still a lot of negativity and uncertainty surrounding these stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsUnfortunately, UAL stock isn't excluded from that observation. Let's take a closer look at the business. Sizing Up AirlinesWhen Warren...
(Bloomberg) -- Hertz Global Holdings Inc., whose stock appears destined to be wiped out when its bankruptcy case is finished, wants to sell $1 billion more of its shares, even though it readily concedes those might wind up worthless, too. Investors promptly bid up Hertz by 68%.The car renter wants to take advantage of the quixotic rally in its stock by offering as many as 246.78 million common shares, according to a court filing. The proceeds would provide some much-needed working capital while Hertz tries to dig out from massive debts that forced it into court protection. Judge Mary Walrath set a hearing for later today to consider the idea.“This is what I love about bankruptcy -- there’s never a dull moment,” said Melanie Cyganowski, a former bankruptcy judge now with the law firm Otterbourg, who said she hasn’t seen a financing like this.Hertz gained 41% to $2.90 at 10:47 a.m....
