Diamond Hill Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Diamond Hill Small Cap Fund posted a return of -36.17% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned -30.61% in the same quarter. You should check out Diamond Hill Capital's top 5 […]...
(Bloomberg) -- It has some competition, but no stock on the auto sector is a better reflection of the equity market’s exuberance than Nikola Corp.The aspiring battery-electric and hydrogen fuel-cell truck maker debuted on the Nasdaq last week following a reverse merger and its stock quickly took off, doubling on Monday and rising another 28% shortly after Tuesday’s open. Trading was halted twice within the first 40 minutes due to volatility, with the shares plunging as much as 22%. They were back up 9% as of 11 a.m. in New York.The $34 billion market capitalization Nikola had at the intraday peak belies the company’s fundamentals. Nikola is forecasting zero revenue for 2020 and its first $1 billion year in 2023. It doesn’t expect to be fully utilizing an Arizona assembly plant that it hasn’t built yet until 2028.And yet Ford Motor Co., which is expected to report about $115 billion of...
PG&E Corp. (NYSE: PCG) wants to sell its San Francisco headquarters and shift base to Oakland to save costs after being in the Golden City for more than a century. The utility also wants to raise $11 billion from debt markets, even as bankruptcy arguments continue in court.What Happened With a goal of achieving near-term cost savings, PG&E wants to relocate its headquarters to Oakland, California, in 2022.In a statement Monday, Bill Smith, the company's interim CEO said, "Our new Oakland headquarters will be significantly more cost-effective, is better suited to the needs of our business, and is a critical part of fulfilling our commitment to operate in a fiscally responsible way that will enable us to achieve our operational and safety goals."The Californian utility is also seeking to tap into corporate debt markets as it pursues financing to the tune of $11 billion.While the courtroom proceedings on its bankruptcy continue,...
It isn't hard to find love when there's no competition. Match Group Inc (NASDAQ: MTCH) is the only online dating service on the public markets, but last resort or not, it's found itself a mate.The Rating: Morgan Stanley analysts Lauren Cassel and Brian Nowak initiated coverage on Match with and Overweight rating and a $103 price target.The Thesis: Lockdown was a lonely experience for many single Americans. A lifting of their forced solitude may inspire a rush to the apps."We see a long and growing runway for growth given demographic tailwinds and greater adoption of online dating," the analysts wrote, citing a global addressable market of about 600 million with 3.5% compound annual growth.The coronavirus impetus compounds other favorable trends for dating apps, including a peak in the U.S. single population, an increase in young daters as a proportion of the single population, and the continued global penetration of internet and...
Yahoo Finance's Emily McCormick joins The First Trade to discuss Vroom's public offering. She also breaks down Tiffany's recent rise in sales in Mainland China. ...
This past Friday we got our first hint of the route our economic recovery from coronavirus may take – and the news was unequivocally good. Despite an uneven reopening, with some states all in and others continuing their lockdowns, the May jobs report showed the largest surge in employment in the survey’s history.As the recovery proceeds, investors have to find the right stocks to take advantage of the jump in the market. TipRanks has the data tools to bring clarity from the market conditions – especially the Smart Score tool. Building on eight separate factors, the Smart Score collates all the available data on a stock and distills it down to a single number. Some stocks – the best options out there – get the coveted ‘perfect 10.’ Using the Smart Score tool, we managed to pinpoint 3 stocks that currently present perfect investing opportunities — all receive a score of...
