Monthly Archives: February 2021

TipRanks

Last week, the NASDAQ slipped below 13,200, making the net loss from its all-time peak, reached earlier this month, 6.4%. If this trend keeps up, the index will slip into correction territory, a loss of 10% from its peak. So what exactly is going on? At bottom, its mixed signals. The COVID-19 pandemic is starting to fade and the economy is starting to reopen strong positives that should boost markets. But an economic restart brings with it inflationary pressures: more people working means more consumers with money in their pockets, and the massive stimulus bills passed in recent months and the bill working through Congress now, which totals $1.9 trillion have put additional funds in peoples wallets and liquidity into the economy. There is pent-up demand out there, and people with money to spend, and both factors will work to push up prices. We can see one effect of all of this in the bond market, where the ten-year Treasury bond is yielding 1.4%, near a one-year high, and it has been trending upwards in recent weeks. This may be a case of jumping the gun, however, as Federal Reserve Chair Jerome Powell has said in testimony before the Senate that he is not considering a move to boost interest rates. In other words, these are confusing times. For those feeling lost in all of the stock market fog, investing gurus can offer a sense of clarity. No one more so than billionaire Steven Cohen. Cohens investment firm, Point72 Asset Management, relies on a strategy that involves investments in the stock market as well as a more macro approach. This very strategy has cemented Cohens status as a highly respected investing powerhouse, with the guru earning $1.4 billion in 2020 thanks to a 16% gain in Point72s main hedge fund. Bearing this in mind, our focus shifted to Point72's most recent 13F filing, which discloses the stocks the fund snapped up in the fourth quarter. Locking in on three tickers in particular, TipRanks database revealed that each has earned a Strong Buy analyst consensus and boasts significant upside potential. Array Technologies (ARRY) The first new position is in Array Technologies, a green tech company providing tracking technology for large-scale solar energy projects. Its not enough just to deploy enough photovoltaic solar collection panels to power an energy utility; the panels have to track the sun across the sky, and account for seasonal differences in its path. Array delivers solutions to these problems with its DuraTrack and SmarTrack products. Array boasts that its tracking systems will improve the lifetime efficiency of solar array projects, and that its SmarTrack system can boost energy production by 5% overall. The company clearly has impressed its customers, as it has installations in 30 countries, in more than 900 utility-scale projects. President Biden is expected to take executive actions to boost green economic policy at the expense of the fossil fuel industry, and Array could potentially benefit from this political environment. This companys stock is new to the markets, having held its IPO in October of last year. The event was described as the first big solar IPO in the US for 2020, and it was successful. Shares opened at $22, and closed the day at $36. The company sold 7 million shares, raising $154 million, while another 40.5 million shares were put on the market by Oaktree Capital. Oaktree is the investment manager that had held a majority stake in the company since 2016. Among Array's fans is Steven Cohen. Scooping up 531,589 shares in Q4, Point72's new ARRY position is worth over $19.7 million at current valuation. Guggenheim analyst Shahriar Pourreza also seems to be confident about the company's growth prospects, noting that the stock appears undervalued. Renewable energy companies have seen a large inflow of capital as a result of the blue wave and the Democrats control of the White House and both chambers of Congress; however, ARRY continues to trade a significant discount to peers," the 5-star analyst noted. Pourreza added, "We continue to be bullish on ARRYs growth prospects driven by 1) tracker market share gains over fixed-tilt systems, 2) ARRY market share gains within the tracker industry, 3) ARRYs large opportunity in the less-penetrated international market, 4) the opportunity to monetize their existing customer base over the longer-term through extended warranties, software upgrades, etc., which are highly margin accretive. In line with these bullish comments, Pourreza rates ARRY shares a Buy, and his $59 price target implies a 59% upside from current levels. (To watch Pourrezas track record, click here) New stocks in growth industries tend to attract notice from Wall Streets pros, and Array has 8 reviews on record since it went public. Of these, 6 are Buys and 2 are Holds, making the consensus rating on the stock a Strong Buy. The average price target, at $53.75, suggests room for ~45% upside in the next 12 months. (See ARRY stock analysis on TipRanks) Paya Holdings (PAYA) The second Cohen pick we're looking at is Paya Holdings, a North American payment processing service. The company offers integrated payment solutions for B2B operations in the education, government, healthcare, non-profit, and utility sectors. Paya boasts over $30 billion in payments processed annually, for over 100,000 customers. In mid-October of last year, Paya completed its move to the public market via a SPAC (special acquisition company) merger with FinTech Acquisition Corporation III. Cohen is standing squarely with the bulls on this one. During Q4, Point72 snapped up 3,288,843 shares, bringing the size of the holding to 4,489,443 shares. After this 365% boost, the value of the position is now ~$54 million. Mark Palmer, 5-star analyst with BTIG, is impressed with Payas prospects into the mid-term, writing, We expect PAYA to generate revenue growth in the high-teens during the next few years, with Integrated Solutions poised to grow in the mid-20s and Payment Services set to grow in the mid-single digits. At the same time, the companys operating expenses should grow in the 5% context, in our view. As such, we believe PAYAs adjusted EBITDA growth will be north of 20% during the next few years, and that its adjusted EBITDA margins will expand to 28% by YE21 from 25% in 2019. Palmer puts an $18 price target on PAYA shares, indicating his confidence in 49% growth for the year ahead, and rates the shares as a Buy. (To watch Palmers track record, click here) PAYAs Strong Buy analyst consensus rating is unanimous, based on 4 Buy-side reviews set in recent weeks. The shares have an average price target of $16, which suggests ~33% upside potential from the current share price of $12.06. (See PAYA stock analysis on TipRanks) Dicerna Pharma (DRNA) Last but not least is Dicerna Pharma, a clinical stage biotech company with a focus on the discovery, research and development of treatments based on its RNA interference (RNAi) technology platform. The company has 4 drug candidates in various stages of clinical trials and another 6 in pre-clinical studies. The company's pipeline clearly got Steven Cohens attention to the tune of taking a new stake totaling 2.366 million shares. This holding is worth $63.8 million at current values. The drug candidate farthest along Dicernas pipeline is nedosiran (DCR-PHXC), which is being investigated as a treatment for PH, or primary hyperoxaluria a group of several genetic disorders that cause life-threatening kidney disorders through overproduction of oxalate. Nedosiran inhibits the enzyme that causes this overproduction, and is in a Phase 3 trial. Top-line results are expected in mid-21 and, if everything goes as planned, an NDA filing for nedosiran is anticipate near the end of 3Q21. Covering the stock for Leerink, analyst Mani Foroohar sees nedosiran as the key to the companys near-term future. We expect nedosiran could see approval in mid-2022, placing the drug roughly a year and a half behind competitor Oxlumo (ALNY, MP) in PH1... A successful outcome will transform DRNA into a commercial rare disease company in an attractive duopoly market with best-in-class breadth of label," Foroohar noted. To this end, Foroohar rates DRNA an Outperform (i.e. Buy), and his price target of $45 suggests a one-year upside potential of 66%. (To watch Foroohars track record, click here) All in all, Dicerna Pharma has 4 Buy reviews on record, making the Strong Buy unanimous. DRNA shares are trading for $26.98, and their $38 average price target puts the upside at ~41% over the next 12 months. (See DRNA 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.

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Elon Musk Lost $15B In A Single Day And The Cause Could Be One Of His Own Tweets - Yahoo Finance

Elon Musk's reply to the Mars-related tweet has prompted people to share various responses.

By Trisha Sengupta

PUBLISHED ON FEB 27, 2021 10:54 AM IST

If you follow SpaceX CEO Elon Musk on Twitter, you may be aware of the various Mars related posts that he often shares. Not just that, he also takes time to reply to some of the posts related to the Red Planet. Just like his recent response to a video shared on a Twitter profile called Black Hole.

A full rotation of the planet Mars (Hubble Captures By NASA), reads the caption shared alongside the video.

However, before knowing how Musk reacted to the clip, take a look at the video which, till now, has gathered more than 3.5 million views and counting.

Musk in just two words shared his response. This is what he wrote along with a wink emoji:

People shared all sorts of reactions to Musks reply. Many were also reminded of his interplanetary ambition to take humans to Mars and beyond. Some also asked questions.

What do you think Musks reply?

By Trisha Sengupta

PUBLISHED ON FEB 07, 2021 10:38 PM IST

Elon Musk's picture with son X A-XII has now prompted people to share all sorts of comments.

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Elon Musks reply to a Mars-related tweet has left people in splits - Hindustan Times

Tesla CEO Elon Musk is known for his witty tweets and he is not one to mince words on the social media platform. This time around, the billionaire has responded to a critical tweet using just a single emoji, that too an eggplant.

On Tuesday, Euro Pacific Capital CEO Peter Schiff, a Bitcoin skeptic, tagged Musk in a tweet sharing his thoughts on how Tesla shares had been falling since Musk "spent $1.5 billion of shareholder money buying bitcoin".

(Also Read: Tesla Model 3's production halted temporarily in California)

"Two weeks after @elonmusk announced that he spent $1.5 billion of shareholder money buying bitcoin, #Tesla stock entered a bear market, plunging 20 percent from its all-time high set on January 25th, and 16 percent since disclosing the bitcoin buy," Schiff wrote on Twitter. He also added that Musk is "not an example other CEOs will likely follow!"

To which, the Tesla CEO replied:

Musk's eggplant emoji has gained over 145.8 lakh 'likes' over the microblogging site. Majority of the Musk's followers took Tesla CEO's reply to be dismissive of Schiff's opinion.

(Also Read: BMW CEO doubts Tesla can easily continue growing as quickly)

Schiff hit back at Musk with another reply writing: "For someone of your intellect, I would have expected a more thoughtful reply, not something one would hear at a playground. Does this mean our clubhouse conversation is not happening?"

There has been no reply from Musk after that.

Elon Musk recently lost the title of world's richest person after a tweet where he wrote that prices of Bitcoin and smaller rival Ether do seem high". In the events that unfolded, later on, the fall of Tesla shares wiped out a whopping $15.2 billion from Musk's net worth (full report here).

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Elon Musk breaks the internet with eggplant emoji reply to a critical tweet - HT Auto

Elon Musk.

Britta Pedersen-Pool/Getty Images

Elon Musk said it would be "awesome" if the Securities and Exchange Commission investigates his tweets that promoted the meme-based cryptocurrency, Dogecoin.

"I hope they do! It would be awesome," he tweeted on Thursday. The billionaire was responding to unverified reports that he may be under regulatory scrutiny for his consistent touting of the coin.

@elonmusk/Twitter

Musk's tweeting spree about the joke-based token on January 28 made its price quadruple in just four hours. His most recent tweets, including one that said "on the actual moon," sent Dogecoin soaring 25%. Earlier this month, he said he bought some for his 9-month-old son, X A-Xii.

Crypto skeptics have lashed out at blue-tick endorsements of cryptocurrencies, warning against their influence over the market. "Headlines, tweets and endorsements are leading the masses to invest in cryptocurrency in an aim to get rich quick, but many are overlooking the volatility of the market, leading to big losses," said Natasha Wren, a senior account executive at The PHA Group.

Musk has had previous clashes with the SEC. The agency sued him in 2018 after he said he had secured the funding required to take Tesla private, alleging that Musk was not as close to acquiring financing for the deal as he indicated.

@elonmusk/Twitter

Both parties reached a settlement, under which he had to step down as the chairman of Tesla's board of directors for three years and pay a $20 million fine. Musk has also poked jabs at the agency, saying that the middle initial in "SEC" stands for Elon.

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Elon Musk says it would be 'awesome' if the SEC probes his tweets on Dogecoin - Markets Insider

Elon Musk himself has repeatedly boosted Bitcoin on Twitter and other platforms.

Unless you're the world's richest person, you shouldn't be buying Bitcoin. That's the message from Bill Gates - the third richest.

With a rally of more than 400% over the past year, Bitcoin has become increasingly mainstream, and everybody including prominent investors and policy makers have been talking about it. The world's on-again, off-again richest person, Elon Musk, recently invested $1.5 billion in the cryptocurrency through his company, Tesla Inc., and said Bitcoin would soon be accepted for payments.

For Gates, it's not something Main Street should buy into - plus it's bad for the environment as mining the coins requires a lot of energy.

"Elon has tons of money and he's very sophisticated, so I don't worry that his Bitcoin will sort of randomly go up or down," Gates said in an interview with Bloomberg Television's Emily Chang. "I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out."

Musk himself has repeatedly boosted Bitcoin on Twitter and other platforms.

Musk, who's worth $189.6 billion as per the Bloomberg Billionaires Index, has been an avid supporter of Bitcoin -- so much so that he's influenced the token's price. It surged as much as 76% this month following Tesla's investment, before tumbling 13% after he tweeted the prices of cryptocurrencies "do seem high."

Bitcoin was trading around $51,400 at 8:30 a.m. in New York on Thursday.

The debate over Bitcoin isn't new. Billionaire Warren Buffett deems cryptocurrencies have no value and don't produce anything. Treasury Secretary Janet Yellen, another long-time skeptic, said at a New York Times conference earlier this week that Bitcoin is an "extremely inefficient way of conducting transactions."

But with more and more companies starting to accept Bitcoin -- as PayPal Holdings Inc., Visa Inc. and MasterCard Inc. recently have -- the token has gained wider acceptance. As central banks including the Federal Reserve and European Central Bank are studying how to digitalize their own sovereign currencies, and firms such as Fidelity Investments Inc. launch funds letting investors add cryptocurrencies to their portfolios, the debate is here to stay.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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"If You Have Less Money Than Elon...": In Gates Vs Musk, A Bitcoin Warning - NDTV

At this point in time, Elon Musk's love for Dogecoin seems to be undisputable fact. Not only does the Tesla chief tweet his praise frequently, but even one word posts that offer no extra input are apparently enough to send prices soaring. But now, it would seem that his efforts have struck a problematic chord with the US Securities and Exchange Commission.

Now, in case you're uncertain about what Dogecoin might be, allow us to explain first. It is a cryptocurrency that was created as a joke of sorts. Dogecoin was inspired by the meme of a smiling Shiba Inu and features the face of the dog on symbolic representations. In the words of its maker, it was "created for sillies" and something that was never really expected to take off.

Fast forward to 2021, and DogeCoin has grown to several hundred times its original value, reaching a market capitalization worth billions of dollars and drawing eyeballs from many including Elon Musk. Asked by a Twitter user as to why he loved Dogecoin so much, the SpaceX CEO recently explained: "I love dogs and memes".

"Bought some Dogecoin for lil X, so he can be a toddler hodler," the world's second richest man tweeted earlier in February. 'Lil X' incidentally is a reference to his young son, X A-Xii.

"Literally," he wrote sharing a picture of the meme-famous dog in an astronaut's suit planting a dogecoin flag on the moon.

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Elon Musk under SEC investigation for Dogecoin tweets? Here's what he has to say - Free Press Journal

Its not news that Elon Musk is an advocate for a sustainable future.

In recent times, the Founder and CEO of Tesla even announced a prize of $100 million for the development of the best technology to capture carbon dioxide, which he shared on his personal Twitter handle.

Am donating $100M towards a prize for best carbon capture technology, he had tweeted.

He has donated about $257 million to the Musk Foundation, which provides support through grants for many causes, including renewable energy research and advocacy, human space exploration research and advocacy, paediatric research, science and engineering education, and the development of safe artificial intelligence to benefit humanity.

On multiple occasions, Elon Musk has made it clear that sustainability is one of his top priorities, especially with Tesla and its products from the Electric car to the solar-powered roof Shingles. SocialStory brings you a few of these quotes that emphasise his eco-friendly plans of action.

Elon Musk

Were really playing a crazy game here with the atmosphere and the oceans. Were taking vast amounts of carbon from deep underground and putting this in the atmosphere this is crazy. We should not do this. Its very dangerous. in a Joe Rogan Experience Podcast.

"I think we have a duty to maintain the light of consciousness, to make sure it continues into the future." in a conversation with Aeon.

Our goal here is to fundamentally change the way the world uses energy.

Tesla cant build 100 Gigafactories, so the thing that is really going to make the difference is if companies much larger than Tesla do the same thing. If the big industrial companies in China, the US, and Europe, and the big car companies. If they also do this then collectively we can accelerate the transition to sustainable energy. And if the government set the rules to favour sustainable energy, we can get there really quickly. in the film Before the Flood with Leonardo DiCaprio.

"..to accelerate the advent ofsustainabletransport by bringingcompelling mass-market electric cars to market as soon as possible. (talking about the mission of Tesla in The Secret Tesla Motors Master Plan (just between you and me).

"We have to change the way we burn fossil fuels. We justhaveto." - to his cousin Lyndon Rive, suggesting to "look into solar".

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Here's what Elon Musk thinks about sustainability and energy conservation - YourStory

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Triple H has shockingly come out and declared war on Elon Musk in what he perceives to be a lack of respect from the Space X founder.

In an interview with The Good Time Show, he called out Elon for his condescending nature. He said: Let me address Elon Musk because I feel like theres some type of disrespect going on here. Because I dont know if he has a superiority complex because hes a rocket scientist, a self-taught rocket scientist, right? Big deal. Hes a guy that sort of revolutionized the electric car all because he wanted to fly rockets to Mars. Big deal.

Clearly, Triple H has acknowledged Elons achievements. They would be hard to ignore given that he was the wealthiest person on the planet in not too recent memory. But in his following comments, Triple H was seemingly goading Elon to get in the ring given that the tech-expert has not faced anyone.

He added: Then, [he] goofs around on the internet, flips some things around, becomes the biggest billionaire, trillionaire, or whatever he is. The richest guy in the world, which, by the way, he couldnt maintain for long. Im sure hell flip that around. At this point, Elon, you have to ask yourself. All those incredible accomplishments, and believe me, they are cool, but who have you beaten?

Who have you ever beat? [The] answer is nobody. And Triple H signed off the interview by what could be termed as none other than an official challenge to war: If you want to disrespect our business, thats one thing. I will anytime, anyplace, anywhere [fight you], Elon Musk.

If youve got the guts, if you have what it takes to do this, then you and I will talk about Elon what I really want to talk about, which is taking one of your rockets, launching it from Florida, going up into space, heading to Mars with a team from the Performance Center, where we then put on the largest spectacle the Universe has ever seen, WrestleMania Mars.

If this were to go ahead, the records books would be shattered twice over. If the fans get behind this, it could become a reality. Let us know what you think in the comment section down below.

Please also remember to stay up to date with the latest news onTheOvertimer. Dont forget to visitGamestingrfor great videos, news, and gameplay!

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WWE's Triple H (HHH) Feels Disrespected, Calls Out Tesla Elon Musk To Meet Him In The Ring! - The Overtimer

Philippe Croizon has never let his amputated arms and legs get in the way of what he wants to achieve and now he has his heart set on a new goal: travelling to outer space.

Croizon is counting on SpaceX CEO Elon Musk to help him to get there after the business magnate responded to his request on Twitter late last year.

The 53-year-old Frenchman had his legs and arms amputated after an accident in 1994 that saw him hit by two electric shocks of 20,000 volts.

"I have nothing to lose. I died on March 5, 1994, when I had my accident. So everything that I'm living today, it's just bonus," Croizon told Euronews.

Since the accident, the Frenchman pushed himself to pursue new challenges, such as swimming the English Channel, achieving a scuba diving world record and completing the Dakar Rally in an adapted buggy.

But his latest project - to travel to space - started a bit as a "joke", he said.

Croizon tweeted that if he could get 50,000 followers before Christmas, he would ask Elon Musk to send him to space.

He achieved his target in just two hours.

Croizon, who describes himself as someone "cheeky who dares to do things" said he was "caught in his own trap".

"Hello @elonmusk I am a famous French adventurer without arms or legs! Send me into space to show once again that anything is possible! @SpaceX," Croizon tweeted on November 20, 2020.

Croizon said he never imagined that the famous tech CEO "who has nearly 50 million followers" would respond to him. But, Musk did.

"One day we will fly you on Starship," Musk responded two hours later. The two men began exchanging messages.

Musk put Croizon in contact with Jared Isaacman, an American billionaire and pilot, who is financing the first fully private space mission dubbed "Inspiration 4".

Isaacman will lead a four-person all-civilian crew into space, including 29-year-old American cancer survivor Haley Arcenaux.

They will travel on a SpaceX Dragon capsule powered by a Falcon 9 launch vehicle in a space mission planned for later this year.

Croizon will not be on this first private space trip, but he has been invited to attend the takeoff by Musk and Isaacson. Croizon said the billionaires would then discuss a solution to make him the first handicapped person to travel to space.

"We're not speaking about the European Space Agency here, that launched a call for disabled astronaut candidates," says Croizon because you have to have several years of university study and "arms", he said.

"My only chance is with Elon Musk and Jared," he told Euronews.

"I have learned something throughout the course my life. It's that we can ask for help. That helping hand, you should live it like a moment of sharing. For me, it's thanks to helping hands that I've carried out all my adventures," he said.

He hopes that this project will come to be, stating that his most beautiful memory is always tomorrow. But he says it also won't be his last challenge.

"I still have a lot of things to do in life. Let me be. Leave me to continue to live my dreams," Croizon said.

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My only chance is with Elon Musk: Quadruple amputee dreams of space - Euronews