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Here’s How Much Investing $1,000 In Carnival Stock One Year Ago World Be Worth Today
Investors who have owned stocks in the past year have generally experienced some big gains. But there is no question some big-name stocks performed better than others along the way. Carnival’s Big Run: One company that has been a great investment in the past year has been cruise line giant Carnival Corp (NYSE: CCL). Carnival is the largest company in the cruise industry, and for most of the past decade it benefited from an aging baby boomer generation. Coming into 2020, Carnival was on track to add 18 new ships to its fleet of more than 100 global ships over the next five years. Unfortunately, after a solid decade of returns, Carnival experienced a near worst-case scenario to kick off the 2020s. The global COVID-19 outbreak shut down all of Carnival’s operations in March of last year, and the company recently extended its cancellations of all cruises through June. In 2019, Carnival generated $4.32 in EPS on $20.82 billion in revenue. In 2020, those numbers plummeted to a loss of $13.21 per share on just $5.59 billion in revenue. At the beginning of 2020, Carnival shares were trading around $51. By the beginning of March, the stock had dropped below $35 after news of the virus spreading in China prompted concerns about a U.S. pandemic. On March 12, Carnival shares plummeted from $21.75 to close at $14.97. A day later, the company announced it would be suspending all cruises for 30 days. The stock broke below $10 for the first time on March 18 and ultimately bottomed at $7.80 in early April. Related Link: Are Americans Ready To Travel? BofA Sees Biggest Airline Bookings Jump Since Pandemic Began Carnival In 2021, Beyond: Carnival shares initially bounced as high as $25.27 in June on optimism cruise ships would be back on the water sooner rather than later. Unfortunately, the initial rally fizzled and the stock dropped back down to $12.11 by late October. In February 2021, Carnival shares hit new post-crisis highs and even reached the $30 level before pulling back to $28.93. Carnival investors who bought one year ago and held on have generated an okay return on their investment. In fact, $1,000 in Carnival stock bought on March 16, 2020 would be worth about $1,633 today. Looking ahead, analysts are expecting Carnival’s stock to run out of steam again in the next 12 months. The average price target among the 15 analysts covering the stock is $20, suggesting 31% downside from current levels. See more from BenzingaClick here for options trades from BenzingaThe Shopper’s High: MIT Study Says ‘Neural Reward Mechanisms’ Trigger Credit Card SpendingThis Day In Market History: Bear Stearns Merges With JPMorgan© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gamestop Short-Selling Nets Bill Gross $10M, Who Says Current Volatility ‘Perfect Opportunity For Options Sellers’
Bill Gross, the co-founder of fixed income investment company Pacific Management Co., said he managed to book a profit of about $10 million from the GameStop Corp. (NYSE: GME) trading frenzy earlier this year. What Happened: The legendary billionaire investor said in an interview Tuesday on Bloomberg Television that he initially sold call options on GameStop at strike prices of $150 and $200, and lost $10 million as the stock surged amid a rally fueled by retail traders. However, he managed to book a profit of $10 million and exited the trade when the videogame retailer’s shares finally tumbled. The erstwhile bond king said he is still selling call options on the GameStop stock at $250 and $300, noting that the volatility is super high and is a “perfect opportunity for option sellers, not buyers.” See Also: GameStop Frenzy Continues To Inspire More Retail Investors’ Jump Into Stock Market Why It Matters: Shares of GameStop and other heavily-shorted stocks such as AMC Entertainment Holdings Inc. (NYSE: AMC) skyrocketed in January as retail traders belonging to the Reddit Investor forum r/WallStreetBets bid up the stocks to create a short squeeze. GameStop and some other meme stocks such as Rocket Companies Inc. (NYSE: RKT) and AMC Entertainment Holdings continued to see strong retail investor interest even on Tuesday amid speculation small investors will invest funds from upcoming stimulus checks into the equity markets. Meanwhile, GameStop analyst Curtis Nagle said in a note last week that the company’s shares remain “very detached from fundamentals”. He also said that the recent surge in GameStop’s shares could be due to rising expectations for the company to adopt a digital business model led by major shareholder Ryan Cohen. See also: How to Buy GameStop (GME) Stock Price Action: GameStop shares closed 5.4% lower on Tuesday at $208.17. Photo courtesy: EPIC via Wikimedia See more from BenzingaClick here for options trades from BenzingaAMC Could Be Getting Up To 10% On Film-Rental Fees From WarnerMedia, Says AnalystAMC Says No Longer In ‘Survival’ Mode With Vaccine Rollout, Big Movie Releases On The Horizon© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tesla ‘Going Down’ In 2021 As Investors Wake Up To Reality On Incumbents’ Potential, Says Fund Manager
Tesla Inc (NASDAQ: TSLA) shares are going to take a sharp dive as interest rates rise in the aftermath of the COVID-19 pandemic, Lansdowne Partners fund manager Per Lekander told CNBC on Tuesday. What Happened: Lekander has a short position on the Tesla stock and is bullish on German automaker Volkswagen AG (OTC: VWAGY). The market value of Elon Musk’s electric vehicle company jumped to over $800 billion in January, before dropping to less than $600 billion in February and is now up again at about $649.7 billion. Lekander believes there is an opportunity for incumbents to make a comeback in 2021. “There are a few golden nuggets, which I think are going to be long-term winners,” Lekander told CNBC’s Squawk Box Europe. “But in the short term, my guess if I’m right on the macro call that interest rates go up and the market wakes up to (the fact that) the incumbents are not as badly positioned as they think, then yes, I think Tesla is going down.” Drawing comparisons with the dot-com boom of 1999, he pointed out how Cisco Systems Inc (NYSE: CSCO), a poster child in 2000 has a much higher market value today than it had then. See also: How to Invest in Tesla Stock “It didn’t stop it from going down 80% first,” Lekander said. Why It Matters: Earlier this week, Volkswagen revealed plans to build half a dozen battery cell plants in Europe and expand charging infrastructure for electric vehicles as it aims to overtake Tesla in the race to speed up mass adoption of electric vehicles. UBS analysts earlier this month said Volkswagen will emerge as a prime rival to Tesla by 2025 in the EV segment over newer EV-exclusive rivals like Nio Inc (NYSE: NIO) or Xpeng Inc (NYSE: XPEV). Price Action: Tesla shares were down 0.5% at $673.25 in early pre-market trading session on Wednesday. Latest Ratings for TSLA DateFirmActionFromTo Mar 2021MizuhoInitiates Coverage OnBuy Mar 2021New StreetUpgradesNeutralBuy Feb 2021Morgan StanleyMaintainsOverweight View More Analyst Ratings for TSLA View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaLyft ‘On The Precipice Of A Demand Snapback:’ Why Wedbush Sees Further Upside In 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Coinbase valuation pegged at $68 billion ahead of landmark U.S. listing
Coinbase Global Inc, the largest U.S. cryptocurrency exchange, said on Wednesday recent private market transactions had valued the company at around $68 billion this year ahead of a planned stock market listing. The eye-popping valuation underscores how the perceived value of Coinbase has rallied in lock-step with the surge in the price of cryptocurrency bitcoin. In a regulatory filing, Coinbase said its shares in the private market traded at a weighted average price of $343.58 apiece in the first quarter of 2021 through March 15, up from $28.83 per share in the third quarter ended Sept. 30.
Wells Fargo: 2 Compelling Stocks With Over 70% Upside Potential
The analysts at Wells Fargo have been scrutinizing the market, or more specifically, scrutinizing the winners and the losers of the current market conditions. In a recently published note, senior equity analyst Chris Harvey writes, “Risk-on and small-cap outperformance has turned this equity market into a stock picker’s paradise.” Obviously, then, Harvey sees small-cap stocks doing well right now, with plenty of options for investors to choose from. While small caps generally amount to a riskier investment, one distinct advantage they hold over larger names is in the possibility for bigger returns. This is where the risk/reward paradigm comes into play. Following up on Harvey’s note, the firm has been making a slew of recommendations, finding small-cap equities on the cusp of growth and ones that promise 70% or greater returns in the coming year. We ran two of them through TipRanks database to see what other Wall Street’s analysts have in mind. Ping Identity Holding (PING) Starting in the tech sector, the first Wells Fargo pick we’re looking at is Ping Identity Holding Corp, which specializes in identity management. The company offers a range of products which allow customers to control login and access to networks and databases. While it has been in business for almost 20 years, Ping Identity has been a public company only for the last year and a half. In the company’s most recent quarterly report, for 4Q20, Ping reported mixed results and saw shares decline 20% in the immediate aftermath. EPS was a net loss of 4 cents per share. Top-line revenues, at $63.2 million, were down 7% year-over-year, but were up 5.5% sequentially and marked the second-highest quarterly top line the company has seen since going public. For the full year, total revenue hit $243.6 million, a result with was driven by a 15% yoy increase in annual recurring revenue (ARR), which hit $259.1 million. The company reported a 34% increase in customers with more than $1 million in ARR, a solid gain in an important metric. Covering the stock for Wells Fargo, analyst Philip Winslow was particularly impressed with the ARR gain. “Ping reported solid Q4 results with ARR ahead of expectations. ARR growth of 15% year-over-year was ahead of consensus estimates of $256.1 million driven by continued adoption of SaaS solutions which accelerated more than anticipated and represents +15% of total ARR,” the 5-star analyst wrote. Winslow added, “The company is experiencing continued signs of pent-up demand as customers phase in purchases as projects previously put on hold due to COVID-related budgetary pressures are emerging in the pipeline, with enterprises modernizing legacy systems whose shortcomings of were exposed over the past year.” To this end, Winslow rates PING an Overweight (i.e. Buy) and has a $40 price target that indicates potential for 76% upside in the next 12 months. (To watch Winslow’s track record, click here) Winslow is not an outlier in his bullish stance, but there is some division on Wall Street regarding Ping. The analyst consensus view is a Moderate Buy, based on a dozen reviews breaking down to 7 Buys and 5 Holds. The shares are priced at $22.59 and their $33.71 average price target suggests a one-year upside of 49%. (See PING stock analysis on TipRanks) Sangamo Therapeutics (SGMO) Let’s switch gears and look at the biosciences sector. Sangamo is a biotechnology company with a focus on creating genomic medicine therapies in the treatment of genetic diseases. The company’s pipeline includes 17 different programs in various stages of development, targeting a range of conditions including IBD, beta thalassemia, sickle cell disease, and hemophilia A. Back in December, the company reported an update from its ongoing collaboration with Pfizer on giroctocogene fitelparvovec. This is a gene therapy product in development as a treatment for hemophilia A, and follow-up data from the Phase 1/2 Alta study showed the drug was well-tolerated and safe in the small cohort of patients tested. Giroctocogene fitelparvovec is now starting the patient dosing phase of the Phase 3 AFFINE trial. In February, Sangamo reported that it has begun a global collaboration with Biogen on the development and commercialization of new gene regulation therapies. The therapies under consideration will target Alzheimer’s, Parkinson’s, and other neurological diseases. Among the bulls is Wells Fargo analyst Yanan Zhu, who writes of the big picture: “Overall, we continue to see significant upside potential in the company’s genomic medicines pipeline programs and platforms, in particular the regulatory T (Treg) cell therapy platform, which may address a broad range of autoimmune diseases, and the ZFP-TF gene regulation platform, which may address certain difficult-to-target neurological indications…” In light of these comments, Zhu reiterates the firm’s Overweight (i.e. Buy) rating on the stock, and set the price target at $29, suggesting a robust upside of 158% (To watch Zhu’s track record, click here) Overall, SGMO has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 5 analysts polled in the last 3 months, 2 are bullish on the stock, while 3 remain sidelined. Yet, the bulls have the edge as the average price target stands at $19.40 and indicates a 72% upside. (See SGMO stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
ARKK Copycat Is Beating Cathie Wood’s Original by 10-Fold
(Bloomberg) — A tiny ETF tracking innovative companies is quietly outpacing one of the most famous investments on Wall Street.The Direxion Moonshot Innovators ETF (MOON) has risen 39% this year, compared to ARK Innovation ETF’s 3.5% gain, according to data compiled by Bloomberg.Cathie Wood’s flagship fund, known by its ticker ARKK, became one of the top-performing exchange-traded funds in the past year thanks to big bets on tech firms that she believes will disrupt their industries. That’s spawned at least half a dozen new products that similarly invest in innovation but use different tactics.Wood’s funds, especially ARKK, have faced turbulence in recent weeks as tech got hit by valuation-fears caused by rising yields. MOON and some other copycats have avoided much of that by loading up on biotechnology, with holdings like ImmunityBio, Inc., which focuses on immunotherapy products, up 131% this year.MOON “has a heavier weight to biotech companies and less on straight technology and internet companies, which are the reason why ARKK has underperformed,” said Mohit Bajaj, director of ETFs for WallachBeth Capital.Launched in November, MOON has risen roughly 70% since then, yet has attracted only about $220 million in assets. ARKK’s haul of more than $7 billion so far this year has put its total above $24 billion.The definitions of “innovation” and “disruption” are in the eye of the beholder, so funds can embrace those themes in different ways. In the case of ARKK, that focus is narrower and its active management structure gives Wood the ability to alter positions based on the latest companies performing well.Yet ARKK’s large stakes in firms like Tesla Inc., Square Inc. and Roku Inc. dragged it down in the past month, with the automaker, for instance, slumping more than 36% from its January high before rebounding 26%.MOON’s passive fund tracks the S&P Kensho Moonshot Index of the 50 most-innovative companies in sectors ranging from smart transportation to human evolution.This means that MOON is “focusing on multiple themes, as opposed to a narrow theme like cloud computing or genomics or video games,” said Todd Rosenbluth, director of ETF research for CFRA Research.MOON’s largest sector allocation, biotech, makes up 17% of the fund, compared with ARKK’s biggest stake, a 22% allocation to internet companies. The top MOON holdings, laser-scanning company MicroVision Inc. and Vuzix Corp., an optical goods manufacturer, have advanced 231% and 145% respectively this year.Other ARKK peers have also topped its year-to-date performance. Passively managed Global X Thematic Growth ETF (GXTG), has gained almost 16%. Actively managed competitors Fidelity New Millennium ETF (FMIL) and the BlackRock Future Innovators ETF (BFTR), with holdings like Penn National Gaming Inc. and Axon Enterprise Inc., have added 10% or more.To date, none have proved much of a threat to ARKK, which has returned more than 200% in the past 12 months and helped spur a loyal following around Wood. Those already invested are unlikely to leave for greener pastures, according to Sal Bruno, chief investment officer at IndexIQ.“There’s definitely a first-mover advantage to ETFs,” he said. “People get into them and they tend to stay in them as long as they are doing well.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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