NEW YORK—Should Elon Musk decide to unload some of his stake in Tesla Inc, he will be capitalizing on a massive rally that has made the electric-vehicle maker one of the world’s most valuable companies. The Tesla chief asked his Twitter followers on Saturday if he should sell 10 percent of his Tesla stake. Nearly…
Black Knight Stock Gains on Q3 Beat, Raised FY21 Outlook
Black Knight Inc. (BKI) reported third-quarter FY21 revenue growth of 21 percent year-on-year to $378 million, beating the consensus of $370.7 million. Organic revenue growth 10 percent. Software Solutions’ revenue rose 23 percent Y/Y to $319.6 million, with organic revenue growth of 10 percent. Data and Analytics revenue rose 10 percent Y/Y to $58.4 million,…
Craig Johnson Recommends Buying This Stock in Semiconductor Space
On CNBC’s “Trading Nation,” Craig Johnson of Piper Sandler said the technical charts are showing the picture of strong fundamentals, with stocks surging to new highs. After looking at the VanEck Semiconductor ETF chart, Johnson said there is still more room to go higher. He added although NVIDIA Corporation is a strong stock, he recommends…
Whale Transfers $997M of DOGE as Price Breaks out Towards $0.30
Meme-based cryptocurrency Dogecoin (DOGE) surged 13 percent in the last 24 hours and its price began to approach the $0.30 mark. What Happened: As of Monday morning at publication, DOGE was trading at $0.2804 and its market cap exceeded $37 billion. The coin recorded a 231.63 percent uptick in daily trading volume which stood at…
VNET Shares Pop as Fitch Sees Robust Data Center Demand From Alibaba
Fitch Ratings has affirmed China-based carrier-neutral data center operator VNET Group Inc’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B+.’ The Outlook is Negative, reflecting Fitch’s expectation that VNET’s 2021–2022 funds flow from operations (FFO) leverage will worsen to above 6.0x (2020: 4.2x), the threshold above which we lead to negative rating action….
Trade Desk Shares Soar on Strong Q4 Outlook Backed by Data-Driven Choices
The Trade Desk Inc. (TTD) reported third-quarter FY21 revenue growth of 39 percent year-on-year to $301.1 million, beating the consensus of $283.5 million. Customer retention remained over 95 percent, akin to the past seven years, and the adjusted EBITDA margin expanded by 500 bps to 41 percent. Non-GAAP EPS of $0.18 beat the consensus of…
BTRS Shares Pop as JPMorgan Sees Huge Upside
JPMorgan analyst Tien-tsin Huang upgraded BTRS Holdings Inc. to Overweight from Neutral with a $15 price target, implying a 60.3 percent upside. As shares are down 48 percent since late April, while revenue and gross profit estimates are relatively unchanged, Huang thinks valuation is more reasonable relative to the firm’s expectations of Billtrust being a…
5 Short Squeeze Candidates to Watch: Progenity Tops List Again, Cassava Sciences Joins Following Short Report
Potential short squeeze plays have gained steam in 2021 with new retail traders looking for the next GameStop Corp. or AMC Entertainment Holdings Inc. A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss…
Nextdoor Goes Public via SPAC Merger; Begins Trading Today
The neighborhood network Nextdoor Inc. began trading from Nov. 8 following its special purpose acquisition company (SPAC) merger with Khosla Ventures Acquisition Co. II (KVSB). The combined entity began trading on the NYSE under the symbol “KIND.” Khosla valued Nextdoor at $4.3 billion, the Wall Street Journal reports. Nextdoor connects neighbors to nearby neighbors, businesses,…
Tower Semiconductor Stock Gains on Q3 Beat, Clocks 25 Percent Revenue Growth
Tower Semiconductor Ltd (TSEM) reported third-quarter FY21 revenue growth of 25 percent year-on-year to $386.7 million, beating the consensus of $384.97 million. It posted a 40 percent organic growth. The gross margin expanded 171 bps Q/Q to 22.1 percent. Adjusted EPS of $0.41 beat the consensus of $0.37. It generated $107 million in operating cash…
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