The resurgence of special purpose acquisition companies (SPACs) has created some of the markets hottest opportunities, such as Pershing Square Tontine (NYSE:PSTH). Set up by Bill Ackman of Pershing Square Capital, PTSH has already rallied from a low of $21.88 to a recent high of $31.21. Source: Shutterstock Shortly after, it would pull back to
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On Nov. 10, Zomedica (NYSEAMERICAN:ZOM) closed at about 8 cents. Now, only a few months later, ZOM stock trades at around $1.90. Source: didesign021 / Shutterstock.com In other words, the stock has gained over 2,600% in just the past three months. That is a massive, massive rally. Now, the fact that it has soared doesn’t
After Quantumscape (NYSE:QS), dropped nearly 57% over the past month, the solid-state lithium-metal battery maker looks as if it is close to fair value. QS stock may worth watching for dips. Source: Tada Images / Shutterstock.com Two weeks ago, when I wrote that it was overvalued, QS stock was down almost 19%. I said Quantumscape
Investors freaked out last week as the S&P 500 fell 3.5% from an all-time high. Source: Shutterstock Investors freaked out last week as the S&P 500 fell 3.5% from an all-time high. But not us. Regular and loyal MoneyWire readers know that pullbacks happen all the time … and we welcome them with open arms.
Tilman Fertitta, the billionaire owner of the NBA’s Houston Rockets and fresh off taking Golden Nugget Online Gaming (NASDAQ:GNOG) and GNOG stock public, is back with an even bigger deal. Source: Maridav/Shutterstock, Inc. On February 1, Fertitta Entertainment announced that it would merge with FAST Acquisition (NYSE:FST), a special purpose acquisition company (SPAC), in a
As you know, GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings, Inc. (NYSE:AMC) have been under the spotlight these past two weeks following the big Reddit short squeeze. I’ll discuss far more in-depth about the Reddit Revolution in my Breakthrough Stocks February Monthly Issue tomorrow, but today I’d like to spend some time discussing one of the biggest short
In the stock market, the questions that flash through every trader’s mind when the S&P 500 has a bearish week go something like this: “What if this is it?” “What if this is the end of the bullish rally?” “What if the bears are waking up and taking control?” Those questions flashed through the minds
It’s been a little over a month since Romeo Power (NYSE:RMO) merged with RMG Acquisition in a business combination valued at $1.3 billion that included $234 million in cash raised from selling RMG stock as part of its February 2019 special purpose acquisition company (SPAC) offering. Source: Scharfsinn / Shutterstock.com I won’t get into a
Welcome to Reddit-land! Source: Shutterstock Thanks to this online stock-chat forum, numerous previously unloved stocks have been rocketing higher over the past few weeks. Reddit has become a powerful, albeit narrowly focused, force in the stock market. In recent days, Reddit traders have sunk their teeth into heavily shorted names like GameStop Corp. (NYSE:GME), AMC Entertainment Holdings
Shares in Workhorse Group (NASDAQ:WKHS) WKHS stock are up 82% in 2021 thanks mainly to the Post Office. Source: rblfmr / Shutterstock.com I called Workhorse a bubble stock in September, but sort of retracted that two months later. That’s because its business strategy is targeting one big contract from one big customer, that it just
The madness surrounding r/WallStreetBets and GameStop (NYSE:GME) has quieted this week. And not a moment too soon. Source: Shutterstock But even though the story is not getting as many national headlines, there is a good investing lesson to learn from last week’s craziness. On today’s new episode of MoneyLine, I’ll share my thoughts on the
It wasn’t very long ago that shares of clinical-stage biopharmaceutical company Ocugen (NASDAQ:OCGN) were a red-hot commodity on Wall Street. Traders were grabbing shares of OCGN stock and a star was born, or so it seemed. Source: Shutterstock The problem is that hype cycles don’t last forever. It’s easy to forget that lesson in a time
Electric vehicle (EV) companies are succeeding by turning existing transportation models upside down. Moreover, the public is finally buying into the EV vision in a big way. As a result, EV stocks had a banner year in 2020. For instance, Canoo (NASDAQ:GOEV) closed it out with a massive surge in price. However, that was followed
This weekend, as the #silversqueeze hashtag made its way across the internet, silver prices forebodingly edged past the $30 mark – the highest it’s been since the beginning of 2013. With a physical metal shortage on the horizon, Redditors and Wall Street pros alike are starting to ask themselves: can another $SLV short squeeze happen?
Nio (NYSE:NIO) stock showed record-breaking performance over the past year, returning more than 1,100%. Put another way, $1,000 invested in NIO stock in late January 2020 would now be more than $12,000. Source: xiaorui / Shutterstock.com On Wall Street, 2020 was the year of electric vehicle (EV) and alternative energy stocks. According to recent metrics,
The fine folks at Reddit already think I’m a useless pile of manure so this take will be injurious to me because it might strike a little too close to home. Nevertheless, I think it’s substantially relevant for Pershing Square Tontine (NYSE:PSTH), the special purpose acquisition company that billionaire activist investor Bill Ackman sponsors. As
NIO’s (NYSE:NIO) relentless uptrend, which accelerated in the last few months, is showing no signs of fatigue. Nio stock is benefiting from several stock sales and convertible notes offering. The cash raised is not hurting Nio stock yet. Demand for the hot stock gives the company many more opportunities to strengthen its balance sheet. Source:
If I had $1 million to invest in the stock market, I would have no issue with buying Amazon (NASDAQ: AMZN) stock as I count my theoretical fortune aboard my equally imaginary yacht cruising the Caribbean to my imaginary private island. Source: Hadrian / Shutterstock.com However, since I am not made of money, there are any
In this market, many tech stocks have reached dizzying valuations. Teladoc (NYSE:TDOC) is trading at 23 times its trailing sales, The Trade Desk’s (NASDAQ:TTD) comparable multiple is 52, while Shopify (NYSE:SHOP) and Nio (NYSE:NIO) weigh in at 59 and 35, respectively. For tech investors looking to avoid those dizzying heights that can lead to intense
Companies like Electrameccanica Vehicles (NASDAQ:SOLO) are trying to ride on Tesla’s (NASDAQ:TSLA) coattails with their electric vehicles (EVs). However, SOLO shares have cratered from their 52-week high of $13.60 per share down to single digits. Nevertheless, the stock remains highly inflated. Competition in the broader EV space is heating up. And even though Electrameccanica has a