1000 days ago
Ark Invest snapped up 255,478 shares for $62.4 million in Coinbase stock on what some consider a buy the dip moment. This comes after the New York firm piled up over 5 million shares worth $1.27B on an April debut. The firm sold 135,492 shares of Twitter estimated to be worth about $9M.
1000 days ago
In general, when the USD/CNY spot rate went up, the CSI 300 Index tended to drop. We are now experiencing a similar situation where the dollar is strengthening while Chinese equities are starting to shake. “Some portfolio managers buy foreign equities on an unhedged basis to benefit from the upside in the currency. When there is no clear view that currency appreciation is at hand, that could be a big headwind for Chinese equities.”
1000 days ago
In a world on the verge of seeing secular changes in infrastructure, due to an increased level of capex from the Biden bill, it is curious to look at Posco, major steel producer (4th largest company in the world by steel production) which operates in Korea. Strong steel price hike momentum led to record results amid sound industry demand, and supply squeezes from an import volume decrease. Recognition of price hike with key demand industries could be another booster of 2Q quarterly results. However it is not outlandish to expect 2Q to be a short-term peak.
1000 days ago
U.S. Costco Wholesale Corporation on Thursday reported its net sales of 18.92 billion U.S. dollars for the retail month of June, the five weeks ending July 4, an increase of 16.9 percent from the same period of last year. For the forty-four weeks ending July 4, 2021, the company reported net sales of 161.09 billion dollars, an increase of 18.1 percent from 136.37 billion dollars last year.
1001 days ago
Tailwinds include; delivery demand is not dropping despite reopening and vaccination progress, market share gains are likely to continue post-pandemic, and new non-restaurant partnerships support order growth post-pandemic.
