1215 days ago
Growth stocks are currently selling at 5x value stocks on a price-to-book basis and 3x on price-to-sales
North America stock valuations
1215 days ago
MicroStrategy buys another $50 million in Bitcoin at $19,427; bringing total to half a billion
The publicly traded business-intel firm MicroStrategy sent a shockwave around the globe on August 11 when it announced it had poured all $250 million of its planned inflation-hedging funds into the digital currency. Not content with the 100% return its stock has generated since then, on Friday MicroStrategy announced that it has bought even more Bitcoin. In an 8-K, the company announced that it had purchased "approximately 2,574 bitcoins for $50.0 million at an average price of approximately $19,427 per bitcoin." As a result, as of December 4, 2020, the Company held approximately 40,824 bitcoins that were acquired at an aggregate purchase price of $475.0 million. The current market value of the company's bitcoin holdings is currently $770 million, or a 60% return in just a few months. The stock price of MSTR is up 165% since the day it announced its first Bitcoin purchase. The stock is seen as a Bitcoin stock proxy by investors- source: www.zerohedge.com
1215 days ago
Tesla broke $600 briefly after-hours which means that the stock is up 1000% in just 13 months.
Jim Chanos: "Every bull market has a stock that people pin their hopes and dreams on" - source: The Market Ear
1217 days ago
CME Put/call ratio at a 2 decade low
A Cboe gauge measuring the volume of bearish options bets relative to bullish ones for U.S. single stocks is also highlighting investor positivity at extreme levels. The indicator’s five-day moving average has hit its lowest level in 20 years. The gauge can often be a contrarian signal for equity markets.
1217 days ago
Not All Hedge Funds Had A Dismal Year
Some equity-focused hedge funds have a stellar year in 2020. This is the case for Lone Pine Capital whose Lone Cypress flagship fund is up 24%. One of the year's best performers is Philippe Laffont 's Coatue Management which is up more than 50% thanks to its long position in Tesla as well as its Wirecard short. Coatue also benefited from its investments in PayPal which is up nearly 100 per cent this year, Zoom as well as solar-panel maker Sunrun, which also appear in its recent regulatory disclosures. On the multi-strategy side, Balyasny Asset Management is up 30% through the end of November. Citadel’s Wellington fund was also up in the double digits - source: www.zerohedge.com
