But he said the Reddit-fueled attacks on funds that shorted GameStop Corp., including Melvin Capital Management and Citron Research, are like nothing he’s seen before. In recent days, Muddy Waters also largely withdrew from a short bet on Nano-X Imaging Ltd. after the stock was added to the ARK Israel Innovation ETF. Here's What Research Is Saying© 2021 Benzinga.com. 3) I've written a few times (most recently in my November 23 e-mail) about Chinese online-education provider GSX Techedu (GSX), which famed short-seller Carson Block of Muddy Waters Research targeted earlier this year. What Happened: The entrepreneur was responding to a tweet that contained comments by Changpeng Zhao, CEO of Binance, where the latter said while he was “surprised that Elon's so gung-ho on Dogecoin,” it was worth noting Tesla's actual investment came in Bitcoin. Several energy companies say that, while frozen infrastructure and equipment malfunctions caused gas volumes to plummet, a lack of power also had a profound impact on supply. To this end, Moussatos rates OBSV a Buy along with a $28 price target. Musk said in an appearance on the Clubhouse app that he was a “supporter of Bitcoin.” Comments on Twitter by Musk have at times fueled spikes in the price of the Shiba Inu-themed DOGE. Let’s dig in. On Tuesday, Feb. 16, the SEC released filings from many high-profile investors such as Warren Buffett, Cathie Wood and Michael Burry. KO Price Action: Shares of Coca-Cola were trading down 0.27% at $50.60 at last check Friday. Unsurprisingly, they like the companies that show discipline on M&A activity, a focus on free cash flow, and solid returns to shareholders. Coca-Cola approved the company’s 59th consecutive annual dividend increase, raising the quarterly dividend 2.4% from 41 cents to 42 cents per common share. Mr Block is 35 years old. Photo by Norbert Nagel via Wikimedia. That exchange-traded fund is managed by Cathie Wood, who rocketed to star status in Reddit forums and on Twitter after becoming one of the best-performing investors of 2020. Cohen has notched a paper profit of roughly $500 million. The Trump administration also announced earlier that it is looking to ban Chinese companies with shares traded on US stock exchanges unless they comply with American accounting … "They're basically booking all that theoretical revenue today and that is the crux of the problem.". I don’t even own any publicly traded stock besides Tesla. Langton states his belief that there is support for current prices, with gold and gold mines being seen as a hedge against ‘macro uncertainty.’ He believes that the main sources of support will be found in “real interest rates remaining lower for longer and COVID-19 related stimulus measures continuing to expand central bank balance sheets.” With this in the background, Langton and his colleagues have begun selecting the gold mining stocks they see as winners in the current environment. Carson Block Defends Short Selling, Says He's "Not Part Of The Establishment" Days after prolific short seller Andrew Left called it quits to focus on long-only research, another well known name in the industry, Carson Block, is stepping in to defend short selling. Long gone are the days when you could enjoy a 5% yield on a tax-exempt bond with a high credit rating. That wasn’t the case over days of forced power outages as nearly every source of fuel faltered in the unprecedented cold that slammed Texas.Even with its explorers focusing on crude, the state is the country’s biggest gas producer, and the fuel makes up just over half of the sources of its power generation mix.A crucial part of the natural gas system was knocked out by the power outages: compressor stations that help keep gas flowing through pipelines.As Ercot started asking utilities to prompt big customers to reduce consumption Sunday evening, those stations went down and the pressure across multiple gas pipelines started to drop, ultimately tripping some utilities off line because of lack of fuel.That, in turn, led some areas of the Eagle Ford shale and the Permian to simply turn off gas production completely.The situation got much worse in the early hours of Monday as demand continued to climb. Each payment has been for 3 cents per share, which translates to a modest yield of 1.6%. Looking at the recent insider trades, we see that Board member Raul Fernandez made two purchases this month, buying up 11,443. Capital raised will be used first to fund the Appalachian Basin land buy, and then to repay debt and fund general operations – these are standard conditions on this type of capital drive. If he’s right, this move could really pay off. It is very important to do your own analysis before making any investment. Activist short-seller Carson Block, the founder of Muddy Waters Research, argues that short-sellers have “been a gift to long buyers.” “[Because] if you’re long a stock and you lend it out, you get some interest expense. The site MarketBeat.com also provides the largest short interest positions, increases, and decreases Until closing, both companies will continue to operate independently in accordance with their existing agreement.” Why It Matters: The Coke brand is far more than soda pop in 2021, what with the family of drink choices consisting of health-conscious, nutritious options like Smart Water, Honest Teas and fairlife dairy products. The S&P 500 is down 17.7% in that same period. FP Street. On February 4, the company announced that it was putting 12.5 million shares of common stock on the market, at a price of $9.75 per share. Nvidia chips power a future of self-driving cars and cloud gaming, while the global semiconductor market is in a supply crunch. (See NEM stock analysis on TipRanks) To find good ideas for gold stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. (Bloomberg) --Carson Block is having an unusually tough time betting against Chinese stocks. CARSON BLOCK isn't the obvious candidate to show up John Paulson, a hedge-fund star who oversees $37 billion in assets. All rights reserved. A Division of NBCUniversal. 3 Buys and 2 Holds add up to a Moderate Buy consensus. The move into the Marcellus gas play underpins management's aptitude to focus on generating the best economic returns…” Hanold rates NOG an Outperform (i.e. The clinical trials enrolled 574 and 535 patients, respectively, and used doses of 100mg or 200mg to treat heavy menstrual bleeding associated with uterine fibroids. With a return potential of 342%, the stock’s consensus price target stands at $16.67. Be it following analyst ratings, upcoming catalysts or recognizing the latest market moving trends. ", Block's Muddy Waters also disclosed a short of Chinese video streaming site iQiyi, often called the "Netflix of China. The company is guiding toward 2.4 million ounces in total production for 2021, rising to 2.9 million ounces by 2023. Northern’s shares are priced at $10.99 and they have an average price target of $14.75, indicating that the stock has a 34% one-year upside potential. Benzinga does not provide investment advice. ), For more articles like this, please visit us at bloomberg.com. MW is Short GSX Techedu Inc. (GSX US) We are short GSX because we conclude that it is a near-total fraud. I am now back to my initial 25% position that I started with in December. With gold currently selling at $1,782 on the commodity exchanges, Kinross’s near-term success is clear. Shorting a stock is a bet that it will go down. In December I initiated long stock positions buying stock, writing calls and puts in AAPL, WFR and CHK (scaling in and out). The most recent purchase is from Board member Donald Listwin, who bought up 20,000 shares, shelling out almost $715,000. Block also casts doubt on eHealth's growth since 2018, saying it's been driven largely by direct response TV advertising. Benzinga does not provide investment advice. (Bloomberg) -- When the Texas power grid was on the brink of collapse and its operator plunged thousands into darkness, it didn’t make an exception for the oil and gas field.Power was, unsurprisingly, diverted to hospitals and nursing homes. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 61. ... referring to the short positions … It’s the largest regularly conducted survey of its kind. With 3 Buys and no Holds or Sells, the word on the Street is that BLU is a Strong Buy. The famed short seller’s recent calls to unload shares of GSX Techedu Inc., TAL Education Group and Joyy Inc. have largely backfired after the stocks rallied … "From a legal perspective it's not a fraud. NOG owns a large acreage footprint in the region, holding title to the lands on which developers will drill and complete oil and gas wells. The stock has held up well so far this year, rising 21.7% in 2020 as of Tuesday's close. This past January, Newmont announced a $1 billion continuation of the share repurchases. Previously, WallStreetBets targeted heavily shorted stocks such as GameStop and AMC Entertainment Holdings Inc (NYSE: AMC). Taken together, these operations have proven and probable gold reserves of 29.9 million ounces. Manulife said in a statement that it disagrees with Block’s conclusions. No. (See CALX stock analysis on TipRanks) DXC Technology Company (DXC) Founded in 2017, in part as a spin-off from Hewlett Packard Enterprises, DXC is a leader in the business-to-business (B2B) IT field. The data analytics firm’s shares fell to their lowest level since late January after it reported disappointing fourth-quarter results with earnings per share of 6 cents per share. Intellectually, it's fraudulent.". Which means that following their stock trades, especially of their own companies, can be a viable investment strategy. Hypersensitivity – the state of being highly, or even excessively, sensitive to environmental or foreign stimuli – can cause a range of conditions from a chronic cough to serious disorders. Proceeds are to be used to repay various outstanding debts and interest obligations, and then to help fund acquisition of new natural gas assets. What’s more, even what seems like minor share price appreciation can result in massive percentage gains. We conclude that at least ~70% of its users are fake, and we think it’s quite likely that at least ~80% of its users are fake. Mr Block is 35 years old. Posted by 8 months ago. Famed short-seller Carson Block thanked God after saying that he's not short shares of Tesla in an interview with Bloomberg on Wednesday. Benzinga does not provide investment advice. The company’s profitability can be seen by cost of sales per ounce, at $790, and the all-in sustaining cost, at $1,025 per ounce. (To watch Perlin’s track record, click here) The Wall Street analysts are taking a range of views on this stock, as shown by the 10 recent reviews – which include 4 Buys and 6 Holds. 4: Lumen Technologies, $11,213,000 In Common Stock Lumen Technologies Inc (NYSE: LUMN), parent company of CenturyLink, offers communication technology such as WiFi and cloud services. The key word is “almost”. The Phase 2b studies, are now enrolling and dosing patients, with interim results expected by mid-year and top line results expected to be published in the fourth quarter. Over the last week I have been trimming back my positions selling stock and taking out my callers and putters. BTC hit an all-time high of $51,335.23 on Wednesday buoyed by Tesla’s purchase of the cryptocurrency and heightened institutional interest from other investors like MicroStrategy Incorporated (NASDAQ: MSTR). Here are Burry’s top five holdings by dollar amount according to the most recent filing. Carson Block said his Muddy Waters Capital “massively reduced” its short positions in recent days, mostly avoiding the buying frenzy that has burned at least two other hedge funds. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. — Elon Musk (@elonmusk) February 19, 2021 Reflecting on his personal stance, Musk noted he is an "engineer" and not an "investor." This year, NOG has made two moves to increase its operating capital. Data is a real-time snapshot *Data is delayed at least 15 minutes. And, if you’re right about the stock, which most stocks have gone up a lot in the past blah-years […] The Canadian, US, and Turkish operations produce primarily gold, while the Puna operation is Argentina’s largest silver mine. In a recent report, investment firm J.P. Morgan took a long look at the state of the gold industry – specifically, the gold mining industry. Not all risk is created equal. Carson Block thinks that investing sentiment is reaching ludicrous levels — and that could eventually fracture a market that he views as fragile. (Bloomberg) -- Carson Block said his Muddy Waters Capital “massively reduced” its short positions in recent days, mostly avoiding the buying frenzy that has burned at least two other hedge funds. The company has assets – both operations and prospects – in North and South America, Africa, and Australia, and is the only gold miner listed on the S&P 500. Get this delivered to your inbox, and more info about our products and services. Block reminded Bloomberg on Monday that his firm works to uncover fraud and he “rejected the idea popular on Reddit’s WallStreetBets forum that short sellers are a part of the establishment”. (See KGC stock analysis on TipRanks) SSR Mining, Inc. (SSRM) Moving up north to Canada, we now take a look at Vancouver-based SSR Mining. Carson Block takes short position in online health insurance marketplace eHealth. Tesla CEO Elon Musk was involved in another Twitter storm overnight, tweeting that Bitcoin is “almost as BS as fiat money” in spite of Tesla’s recent $1.5 billion investment. Apple (AAPL) stock fell through the 50-day moving average this week, confirming January's failed breakout. (Bloomberg) -- Carson Block said his Muddy Waters Capital “massively reduced” its short positions in recent days, mostly avoiding the buying frenzy that has burned at least two other hedge funds. Your retirement savings are $1 million. Based on current production projections, the payments are expected to continue until 2023. You want $100,000 of yearly retirement income, including Social Security. Muddy Waters bought stock to cover most of its shorts on Monday and today was able to reduce risk in the last big position, Block said. Block says more investors are making trading decisions based on technical, not fundamental, factors. The second move was announced on February 8 – an offering of senior notes at 8.125%, due in 2028. After 7 years without dividend payments, Kinross used its strong performance in recent months to restore the company dividend. Bitcoin is almost as bs as fiat money. Additionally, we expect Newmont to approve its Ahafo North and Yanacocha Sulfides projects this year, which should bring on incremental production for the company after the projects’ roughly three-year development time-line.” Glick likes Newmont’s FCF and production numbers, using them to back his Overweight (Buy) rating. Here’s How We Know. The other consequence is requiring shorts to disclose positions can result in more dysfunction from corporations committing wrongdoing. The most recent quarter reported, fiscal 3Q21, showed $4.29 billion at the top line, falling 14.6% year over year. Carson Block, the founder of Muddy Waters Capital, likes to talk about what a screwed up year 2020 was — on many levels. 3: Kraft Heinz Co., $20,439,000 In Call Options (Notional Value) Burry bought $204,390 in call options on Kraft Heinz Co (NASDAQ: KHC) that could be worth more than $20 million if executed. Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange.. Block, who disclosed the short on CNBC’s “Squawk Box,” said he does not believe the company is a “fraud,” but it is “in our view a massive stock promotion.” Shorting a stock is a bet that it will go down. The corona crisis depressed results, but even the depressed results were up year-over-year. Prices are already the highest since the pre-pandemic days — and they're likely to spike. DXC’s enterprise tech enhances performance and competitiveness, and therefore the customer experience. We focus on activist short selling; if a … For an individual investor to beat the market, you need an edge. Days after prolific short seller Andrew Left called it quits to focus on long-only research, another well known name in the industry, Carson Block, is stepping in to defend short selling. Carson Block Defends Short Selling, Says He's "Not Part Of The Establishment" Days after prolific short seller Andrew Left called it quits to focus on long-only research, another well known name in the industry, Carson Block, is stepping in to defend short selling. Should her thesis play out, a potential twelve-month gain of ~643% could be in the cards. The ‘base dividend’ will be set at 5 cents per share, or a 1% yield; as with KGC above, the key point is not whether the dividend is high or low, but that management is starting to pay it out – a sign of confidence in the future. No. CNBC reached out to eHealth for comment but didn't hear back. Got a confidential news tip? “In our view, Linzagolix has the potential to achieve best-in class oral GnRH receptor antagonist status based on a flexible dosing regimen either with or without the add-back hormone therapy (ABT)—a key differentiator from other GnRH receptor antagonists… Based on the positive PRIMROSE 1 and PRIMROSE 2 primary endpoint results for YSELTY®/UF and additional follow-up data, we project annual sales of more than $750 million in 2027 for Linzagolix/UF,” Moussatos opined. After all, these are high-risk commodity producers. Along with an Outperform rating, the analyst gives the stock an $8 price target. “There are no medals for valor in this business,” Block said by phone from California. And BofA most recent findings show that Big Money is feeling confident. Investor Carson Block suggested there may … (To watch Silverstein’s track record, click here) What does the rest of the Street think? Carson Block's Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange. 2: Pfizer $31,079,000 in Call Options (Notional Value) Burry purchased more than $300,000 in Pfizer Inc. (NYSE: PFE) call options. Why It Matters: The selloff has attracted the attention of the online crowd who are further enthused by the loose association with Tesla Inc (NASDAQ: TSLA) CEO Elon Musk — who was a former business partner of Thiel, the Wall Street Journal reported. Block reminded Bloomberg on Monday that his firm works to uncover fraud… The frenzied buying of GameStop and other heavily shorted stocks, such as bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc., underscores the perils of contrarian wagers in a market buoyed by central bank stimulus and increasingly driven by rumor-chasing punters. The current clinical trial is a Phase 2b study, the follow-up to the Phase 2 RELIEF trial. Block says his firm's short position in Chinese education technology company GSX Techedu was the target of a short squeeze last year. Payments are still made irregularly, but since announcing in September 2020 that the dividend would be reinstated, two payments have been made and a third has been announced for March of this year. "We're a distribution partner for them. Calix, like many high-tech software platform companies, offers a system that can streamline operations – a vital advantage in today’s expanding remote work climate. Comment When the reddit ordinary folk went Long on GAMESTOP and the hedge funds (some anyway ) lost money many complained of market manipulation but when Hedge fund and IMHO sailing close to the wind gamblers short stocks after having attacked them for misdemeanors or alleged crimes then sell and make a profit they are just activists.Short-selling guru Carson Block … One risk is that enthusiasm turns sour and spirals downward, according to one crypto investor. Singing the healthcare name’s praises is RBC Capital analyst Gregory Renza. And better yet – they are not wholly free actors. Fernandez paid nearly $300,00 for the new shares. The analysts seem to think so; all are Buy-rated and potentially offer significant upside. Burry bought more than $330,000 in call options on the investment firm. '” Why It Matters: Last month Tesla invested .5 billion in Bitcoin and said it expected to accept the cryptocurrency for payments in the near future. At first glance, Langton’s paradox may seem to point away from heavy investments in gold mines. No. The dividend increase is applicable for outstanding shares of Coca-Cola. Interview with Carson Block of Muddy Waters Research covering several of the firm's current and former positions (Luckin, IQiyi, Anta, TAL), short selling strategies, and China capital flows. Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc ., which owns a digital health insurance exchange. To this end, the pros recommend doing some due diligence before making an investment decision. Ercot simply didn’t have the power, and millions of homes fell into darkness.Ercot executives have said the utilities ultimately determine which circuits to turn off during a rotating outage. BTC traded 1.39% lower at $51,332.92 at press time, while DOGE traded 11.05% higher at $0.058. Sentiment has driven bitcoin ever-higher this year. ObsEva SA (OBSV) First up is a clinical-state biopharma company with a sharp focus on women’s health. Two sets of statistics highlight Kinross’ profitability. With shares changing hands for $3.80 apiece, Wedbush analyst Liana Moussatos sees an attractive entry point for investors. The company should also generate attractive strong levels of FCF at current gold prices, and we expect Kinross to direct this cash toward internal growth projects and its dividend.” In line with these comments, he selects Kinross as JPM’s ‘top pick in the gold sector,’ and rates the stock as Overweight (i.e., a Buy). Days after prolific short seller Andrew Left called it quits to focus on long-only research, another well known name in the industry, Carson Block, is stepping in to defend short selling. Using the TipRanks database, we’ve pulled up the details on several of their recent picks. Carson Block thinks that investing sentiment is reaching ludicrous levels — and that could eventually fracture a market that he views as fragile. The average price target is $74.97, suggesting room for 31% growth from the current trading price of $56.99. JPM’s Michael Glick led the note on Newmont, starting out by acknowledging the company’s strong production: “We are forecasting NEM’s attributable gold production to remain relatively steady over the 2021-2025 time frame at around 6.5-6.7mm oz…” Of the company’s mid-term production prospects Glick went on to say, “In terms of production, the ongoing expansion at Tanami should deliver incremental production and lower cash costs starting in 2023. It saw $19.5 billion in revenues for calendar year 2020, but is on track come in at ~$18 billion for fiscal 2021. The results from both studies were positive, supporting Linzagolix's favorable safety and efficacy profile. Is that doable without tons of risk? “In 2018, Coca-Cola became a shareholder in BodyArmor, in a deal that was structured to create value for both companies while also defining a path to ownership in the future. Block began scaling back its positions about two weeks ago, when he recognized that a squeeze might be building in one of his shorts, GSX Techedu Inc., a Chinese maker of education software that Melvin also bet against. The new land acquisitions targeted are in the Appalachian region, and will mark a true expansion for Northern Oil and Gas. The average price target, at $31, implies a 19% one-year upside from the current trading price of $26.06. The company is named after the Chinese proverb "混水摸魚", meaning "muddy waters makes it easy to catch fish." The call options indicate that Burry is very bullish in the short term. Overall, ObsEva has impressed its observers, as shown by the unanimous Strong Buy consensus rating on the shares, based on 3 recent Buy reviews. Carson Block thinks that investing sentiment is reaching ludicrous levels — and that could eventually fracture a market that he views as fragile. Bank of America has a strong reputation for keeping finger on the pulse of the financial world – and one of its key tools is the Global Fund Manager Survey, conducted monthly and seeking opinions from more than 200 hedge fund, mutual fund, and pension fund managers who hold a combined $645 billion in AUM. It is very important to do your own analysis before making any investment. See more from BenzingaClick here for options trades from BenzingaThinking About Buying Stock In Roku, Disney, Gevo Or Palantir?FuelCell, Plug Power Hammered As Texas Governor Blames Renewables For Electricity Crisis© 2021 Benzinga.com. Close. (To watch Renza’s track record, click here) Turning now to the rest of the Street, other analysts also like what they’re seeing. The first capital move, however, is more interesting for this current article. Sometimes, the less severe chronic symptoms can be the worst. In addition, the $37.40 average price target indicates a modest upside from current levels. The content is intended to be used for informational purposes only. Tyler Langton, in his notes on Kinross, comes to a bullish conclusion: “Given its expected growth projects and pipeline of additional projects, we think Kinross will be able to maintain average annual production of 2.5mm oz. Block reminded Bloomberg on Monday that his firm works to uncover fraud… Block, best known for unearthing and shorting fraud in publicly-traded Chinese companies, recognizes that "there could be bloodlust for short-sellers" following the Reddit-fueled retail trading frenzy that drove up shares of GameStop to astronomical levels, burning hedge funds shorting the video game retailer's stock. Carson Block thinks that investing sentiment is reaching ludicrous levels — and that could eventually fracture a market that he views as fragile. He reportedly sold his shares before the stock skyrocketed all the way up to more than $300 per share. Burry is betting here that COVID-19 restrictions will keep people working from home. Since the beginning of 2019, the company has used both dividends and share repurchases to return capital to stakeholders, to the tune of $2.7 billion. It can be said BodyArmor is a direct competitor to Coke’s popular electrolyte sports drink Powerade. Block, a widely watched short-seller, gained prominence nearly a decade ago when he bet against Chinese companies, including Sino-Forest. The high-churn customers complicate eHealth's revenue models, which are based on "higher-quality, stickier enrollees," Block argued. Block’s route to short selling was a circuitous one. CARSON BLOCK isn't the obvious candidate to show up John Paulson, a hedge-fund star who oversees $37 billion in assets. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The company’s lead drug candidate, linzagolix (branded as Yselty), is an orally administered GnRH receptor antagonist that has completed two Phase 3 studies, PRIMROSE 1 in the US and PRIMROSE 2 in both the US and Europe. Last November, the company announced that it will be initiating a dividend policy starting in 1Q21. The best Dow Jones stocks to buy and watch in February 2021 are Apple, Microsoft and Nike. Kinross Gold Corporation (KGC) First up, Kinross Gold, is a mid-cap company– valued at $8.6 billion – with active mining operations in the US, Brazil, West Africa, and Russia. IQiyi pushed back against the report, saying it believes it contains "numerous errors, unsubstantiated statements and misleading conclusions and interpretations.".

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