Stocks & Equities

Wall Street’s Newest Cult Stock Crashes 20% After Earnings Miss

Posted by Alex Kimani

on Wednesday, 31 July 2019 10:55

Move over Tesla, Inc. (NASDAQ:TSLA), there’s a new cult stock in town, a food company nonetheless.  And just like its high-profile EV brethren, it’s promising to become the next battleground stock, full of drama and controversy. Shares of Beyond Meat Inc. (NASDAQ:BYND), a maker of meat alternatives, had soared +800 percent since its May 2 IPO in a Tesla-esque climb to the top.

But now they have shared Tesla’s other fate, tanking nearly 20 percent shortly after the company delivered its second public earnings scorecard that failed to meet heightened expectations.

Beyond has reported Q2 revenue of $67.3 million, an impressive 287 percent year-on-year increase and $14.5 million above the Wall Street consensus. However, GAAP EPS of -$0.24 badly missed estimates by $0.15 despite the company reporting improved margins. Adjusted EBITDA for the quarter was $6.9M vs. a $5.6M loss posted last year. Gross profit margin of 33.8 percent represented a considerable improvement on last year’s 15.0 percent and the 26.4-percent consensus…CLICK for complete article

Mylan, Pfizer’s Upjohn To Merge And Create New Company

Posted by Tanzeel Akhtar

on Monday, 29 July 2019 8:49

Mylan shares are trading higher after it announced the launch of a new company with Pfizer’s Upjohn division.

Pfizer shareholders will own 57% of the combined new company, and Mylan shareholders will own 43%. The new company is expected to have 2020 revenues of $19 billion to $20 billion.

“The new company, which combines the unique assets of Mylan with the iconic brands of Pfizer’s Upjohn business, will not only accelerate our mission to serve the world’s changing health needs, but also further unlock the true value of our platform while delivering attractive returns to shareholders for many years to come,” said Robert Coury, Mylan chairman.

“Importantly, the combined organization will have a presence across nearly every continent and major market, establishing a new leadership position in Asia, and offering products capable of treating all major therapeutic areas.” CLICK for complete article

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Posted by MoneyTalks Editor

on Friday, 26 July 2019 13:23

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China’s Nasdaq Minted Billionaires On Day 1, Then Crashed

Posted by Alex Kimani

on Friday, 26 July 2019 9:13

Many everyday investors consider the tech-heavy NASDAQ the home of volatility and sky-high valuations. Well, its Chinese contemporary has just made its debut and is already looking to emulate those very qualities. China’s new tech exchange, STAR Market, made a flying start on Monday with stocks of 25, mostly technology, companies listed on the platform jumping 140 percent and making three high-profile investors overnight billionaires.

The frenzied buying helped total market capitalization to more than double from 225 billion yuan ($44.5 billion) to 529 billion ($104.7 billion).

Why Aurora Cannabis Stock Looks Like a Bargain Today

Posted by Ambrose O'Callaghan

on Thursday, 25 July 2019 9:04

Just over three months ago, I’d warned investors that the cannabis sector looked especially shaky in the middle of spring. At the time, industry experts and analysts were issuing warnings about earnings for top producers. Recreational sales disappointed in 2019 after a hot start following legalization in October 2018.

The crisis at CannTrust has exacerbated these problems and cast a shadow over the young sector. Horizons Marijuana Life Sciences ETF has plunged 20% over the past month as of close on July 24. So, should investors be fearful or greedy as volatility strikes cannabis stocks?

In the case of Aurora Cannabis I would argue for the latter approach. Aurora stock has plummeted 30% over the past three months. This recent dip has pushed shares into the low end of its 52-week range. The stock had an RSI of 32 as of close on July 24, which puts Aurora just outside technically oversold territory…CLICK for complete article