U.S. markets open in 5 hours 19 minutes

  • S&P Futures

    3,911.25
    +1.75 (+0.04%)
     

  • Dow Futures

    31,426.00
    -5.00 (-0.02%)
     

  • Nasdaq Futures

    13,645.50
    +12.50 (+0.09%)
     

  • Russell 2000 Futures

    2,222.80
    +5.10 (+0.23%)
     

  • Crude Oil

    59.50
    -1.02 (-1.69%)
     

  • Gold

    1,773.30
    -1.70 (-0.10%)
     

  • Silver

    27.16
    +0.08 (+0.30%)
     

  • EUR/USD

    1.2133
    +0.0035 (+0.29%)
     

  • 10-Yr Bond

    1.2870
    0.0000 (0.00%)
     

  • Vix

    22.81
    +1.31 (+6.09%)
     

  • GBP/USD

    1.3996
    +0.0028 (+0.20%)
     

  • USD/JPY

    105.3700
    -0.3200 (-0.30%)
     

  • BTC-USD

    52,373.82
    +390.33 (+0.75%)
     

  • CMC Crypto 200

    1,080.10
    +24.99 (+2.37%)
     

  • FTSE 100

    6,615.69
    -1.46 (-0.02%)
     

  • Nikkei 225

    30,017.92
    -218.17 (-0.72%)
     

Disclosure of managers’ and closely related parties’ transactions with shares and/or linked financial instruments in North Media A/S

  • Oops!
    Something went wrong.
    Please try again later.
North Media A/S
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

Company announcement No 05-2021
19 February 2021


Pursuant to article 19 of regulation (EU) no. 596/2014 of the European Parliament and of the Council on market abuse (as amended) persons discharging managerial responsibilities in North Media A/S and/or persons closely related with them must notify the Danish Financial Supervisory Authority and notify North Media A/S of transactions related to shares and/or linked financial instruments in North Media A/S.

North Media A/S hereby makes public pursuant to article 19 of regulation (EU) no. 596/2014 of the European Parliament and of the Council on market abuse (as amended) the following information received from persons discharging managerial responsibilities in North Media A/S and/or persons closely related with them (see attached).

The transactions pertain to exercise of stock options:

Name

Holdings before transaction, no. of shares

Transaction, no. of shares

Holdings after transaction, no. of shares

Henrik Løvig Jensen (acquisition)

8,750

16,000

24,755

Jannik Bray Christensen (acquisition)

0

16,000

16,000


For further information
Kåre Wigh, Group Executive Director & CFO, mobile +45 25 65 21 45

This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.

Attachments


Latest Stories

  • Bitcoin ETF Roars in Debut With $165 Million of Trading Volume

    (Bloomberg) -- North America’s first Bitcoin ETF got off to a stellar start in its debut, with investors exchanging $165 million worth of shares.After a relentless surge in the world’s largest digital currency, the first Bitcoin product that’s officially labeled an exchange-traded fund debuted Thursday in Toronto. It’s worth noting, though, that Europe has several crypto-tracking products that function like an ETF. The new fund, called Purpose Bitcoin ETF (ticker BTCC), invests directly in “physical/digital Bitcoin,” issuer Purpose Investments Inc. said in a statement.The cryptocurrency has captivated investors from billionaire Elon Musk to hedge-fund moguls including Alan Howard and Paul Tudor Jones. It may well be “the stimulus asset,” DoubleLine Capital LP chief Jeffrey Gundlach tweeted, in a reference to Bitcoin’s rally amid a wave of cash pumped into the financial system during the pandemic. While the digital asset has already surged fivefold in the past year -- spurring concern about a speculative froth in global markets --it’s grabbing more mainstream attention, especially after Tesla Inc.’s recent $1.5 billion purchase.Read: Why a U.S. Bitcoin ETF Could Be a Real Thing in 2021: QuickTakeIt’s unclear how much of the activity in BTCC will result in inflows for the fund, but the trading volumes were well above an ETF’s typical first day in Canada, according to Bloomberg Intelligence analyst James Seyffart. Although too early to tell, ETF proponents argue that such a fund will trade without the massive premiums plaguing many current Bitcoin trusts in the U.S.“There’s sizable untapped interest for a Bitcoin investment that has the benefits of an ETF,” said Todd Rosenbluth, CFRA Research’s director of ETF research, adding it’s unlikely the fund will trade at a significant premium-to-net-asset-value. “While most ETFs come to market globally with an educational hurdle to overcome, many investors are familiar with what is inside BTCC,” he noted.The U.S. currently has several active filings for a Bitcoin ETF, including the ones from VanEck Associates Corp. and Bitwise Asset Management, but the price swings notorious in cryptocurrenies and allegations of industry manipulation remain hurdles to regulator approval. Still, with the world’s largest digital trading near all-time highs and a change of leadership at the Securities and Exchange Commission, analysts say the prospect of a first American Bitcoin ETF appears to be rising.(Adds more context, current volume.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Elon Musk On Why Tesla Invested in Bitcoin, Not Dogecoin

    Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said on Thursday gave an indication on why the electric vehicle maker invested in Bitcoin (BTC) and not Dogecoin (DOGE) — a meme cryptocurrency often at the center of his tweets., What Happened: The entrepreneur was responding to a tweet that contained comments by Changpeng Zhao, CEO of Binance where the latter said while he was “surprised that Elon's so gung-ho on Dogecoin,” it was worth noting Tesla's actual investment came in Bitcoin. Musk said Tesla's investments are not "directly reflective of my opinion." The Tesla CEO added that Bitcoin, which he describes as "simply a less dumb form of liquidity than cash," is "adventurous enough for an S&P500 company," let alone Dogecoin. To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla. However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is “almost”. — Elon Musk (@elonmusk) February 19, 2021 Reflecting on his personal stance, Musk noted he is an "engineer" and not an "investor." “I don’t even own any publicly traded stock besides Tesla,” the billionaire entrepreneur wrote. The apex cryptocurrency also came under some criticism from the executive who said “Bitcoin is almost as bs as fiat money. The key word is 'almost.'” Why It Matters: This month Tesla invested .5 billion in Bitcoin and said it expected to accept the cryptocurrency for payments in the near future. Musk said in an appearance on the Clubhouse app that he was a “supporter of Bitcoin.” Comments on Twitter by Musk have at times fueled spikes in the price of the Shiba Inu-themed DOGE. BTC hit an all-time high of $51,335.23 on Wednesday buoyed by Tesla’s purchase of the cryptocurrency and heightened institutional interest from other investors like MicroStrategy Incorporated (NASDAQ: MSTR). BTC traded 1.39% lower at $51,332.92 at press time, while DOGE traded 11.05% higher at $0.058. Price Action: Tesla shares closed 1.35% lower at $787.38 on Thursday and fell 0.54% in the after-hours session. See Also: Elon Musk Asks 'Major Dogecoin Holders' To Sell Most Of Their Coins Photo courtesy: Forbes via Wikimedia See more from BenzingaClick here for options trades from BenzingaWhy DODO Cryptocurrency Has Skyrocketed 90% TodayRobinhood To Let Users Deposit, Withdraw Dogecoin And Other Cryptos: What That Means For Investors© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Tesla Slashes Prices As Rivals Make Big Push In EV Market

    Tesla cut the price of base variants of the Model 3 sedan and Model Y sport utility vehicle as competing EV models proliferate.

  • Is Palantir Stock a Buy Right Now? This Is What You Need to Know

    Palantir (PLTR) surprised the Street in its latest quarterly report. Unfortunately, the surprise was to the downside after the big data specialist failed to live up to expectations. Investors were left disappointed by a bottom-line miss and the company’s guidance and sent shares down 22% in the subsequent sessions. That’s not to say Palantir’s 4Q20 results were all bad. In the quarter, the company generated revenue of $322.1 million, up 40% year-over-year and beating the estimates by $22 million. However, the company delivered an unexpected loss per share of $0.08, while the Street was was anticipating EPS to be positive at $0.02. For the full year, revenue grew by 47% to $1.1 billion, while average revenue per customer reached $7.9 billion, a 41% year-over-year uptick. Looking ahead to Q1, Palantir anticipates top-line growth of 45% which should see revenue land at $348.87 million, higher than the Street’s $309.47 million forecast. For 2021, the company anticipates revenue growth to stay over 30%. In fact, Palantir believes that 30% growth is doable in each of the next 5 years, culminating in 2025 revenue passing $4 billion. In contrast to the negative reaction, overall, RBC analyst Matthew Hedberg views the latest results as “positive” and thinks the company is heading in the right direction. “Palantir delivered another strong quarter and guided up 1Q just as much. While some may lament the unchanged 2021 guidance, we view that as management balancing a relatively aggressive 5-year view with being sure to not overpromise near term,” the 5-star analyst said. “We believe the modularization of the company's offerings has helped it land more broadly, and likely will help it this year to seed future growth and look for the just announced IBM partnership to drive much stronger distribution in the Commercial space.” Investors might have sent shares down following the fourth quarter results, but it is worth remembering the massive run up the shares had prior to the report’s release. Palantir’s lofty valuation is the reason why Hedberg sticks to a Sector Perform (i.e. Hold) rating. However, the analyst boosted his price target to $27 (from $15), which implies a 7% upside from current levels. (To watch Hedberg’s track record, click here) Overall, the majority on the Street remain Palantir skeptics. The stock has a Moderate Sell consensus rating, based on 2 Buys, 1 Hold and 4 Sells. The analysts expect the share price to stay rang-bound in the coming months, given the average price target currently stands at $25.83. (See PLTR 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • 2 “Strong Buy” Penny Stocks That Could Rally Over 100%

    Bank of America has a strong reputation for keeping finger on the pulse of the financial world – and one of its key tools is the Global Fund Manager Survey, conducted monthly and seeking opinions from more than 200 hedge fund, mutual fund, and pension fund managers who hold a combined $645 billion in AUM. It’s the largest regularly conducted survey of its kind. And BofA most recent findings show that Big Money is feeling confident. More than 90% of investors surveyed believe that 2021 will show a significant recovery from 2020, that asset allocations to stocks and commodities are at their highest in 10 years, and there’s a general belief that global growth is at an all-time high. So, there is a general consensus that now is the time to invest. The only remaining question is, invest in what? Wall Street pros argue there are early-stage companies that reflect promising opportunities, with the low share prices meaning you get significantly more bang for your buck. What’s more, even what seems like minor share price appreciation can result in massive percentage gains. The bottom line? Not all risk is created equal. To this end, the pros recommend doing some due diligence before making an investment decision. With this in mind, we used TipRanks’ database to find compelling penny stocks with bargain price tags. The platform steered us towards two tickers sporting share prices under $5 and “Strong Buy” consensus ratings from the analyst community. Not to mention substantial upside potential is on the table. ObsEva SA (OBSV) First up is a clinical-state biopharma company with a sharp focus on women’s health. ObsEva is working to develop and commercialize new therapeutics for women’s reproductive health issues – up to and including pregnancy. The company’s lead drug candidate, linzagolix (branded as Yselty), is an orally administered GnRH receptor antagonist that has completed two Phase 3 studies, PRIMROSE 1 in the US and PRIMROSE 2 in both the US and Europe. The clinical trials enrolled 574 and 535 patients, respectively, and used doses of 100mg or 200mg to treat heavy menstrual bleeding associated with uterine fibroids. The results from both studies were positive, supporting Linzagolix's favorable safety and efficacy profile. In an update announced last month, ObsEva reported that, pursuant to Phase 3 results, the European Medicines Agency (EMA) had validated for review the company's Marketing Authorization Application (MAA) for Yselty (100mg and 200mg). Potential MAA approval is anticipated in Q4:21. The drug is also slated to be the subject of a New Drug Application (NDA) that is due to be submitted to the FDA in Q2. With shares changing hands for $3.80 apiece, Wedbush analyst Liana Moussatos sees an attractive entry point for investors. “In our view, Linzagolix has the potential to achieve best-in class oral GnRH receptor antagonist status based on a flexible dosing regimen either with or without the add-back hormone therapy (ABT)—a key differentiator from other GnRH receptor antagonists… Based on the positive PRIMROSE 1 and PRIMROSE 2 primary endpoint results for YSELTY®/UF and additional follow-up data, we project annual sales of more than $750 million in 2027 for Linzagolix/UF,” Moussatos opined. To this end, Moussatos rates OBSV a Buy along with a $28 price target. Should her thesis play out, a potential twelve-month gain of ~643% could be in the cards. (To watch Moussatos’ track record, click here.) Overall, ObsEva has impressed its observers, as shown by the unanimous Strong Buy consensus rating on the shares, based on 3 recent Buy reviews. With a return potential of 342%, the stock’s consensus price target stands at $16.67. (See OBSV stock analysis on TipRanks) BELLUS Health (BLU) The second stock we’re looking at, BELLUS Health, is also a clinical stage biopharma research company – but the focus here is on an issue that few of us ever think about. Hypersensitivity – the state of being highly, or even excessively, sensitive to environmental or foreign stimuli – can cause a range of conditions from a chronic cough to serious disorders. Sometimes, the less severe chronic symptoms can be the worst. Chronic cough and chronic pruritus (itchy skin) are mild to moderate symptoms that can triggered by a range of factors – but when the symptoms don’t go away, they can have a disproportionately negative impact on the quality of life. BELLUS’ lead drug candidate, BLU-5937, is undergoing studies of its efficacy in the treatment of these symptoms. BLU-5937 is a highly selective PsX3 antagonist, working on the P2X3 receptor in the cough reflex pathway. The current clinical trial is a Phase 2b study, the follow-up to the Phase 2 RELIEF trial. The RELIEF trial enrolled 68 patients in the US and UK, of whom 52 completed two test periods. The trial showed a statistically significant cough count reduction in patients with a higher baseline count. The Phase 2b studies, are now enrolling and dosing patients, with interim results expected by mid-year and top line results expected to be published in the fourth quarter. Singing the healthcare name’s praises is RBC Capital analyst Gregory Renza. “With a proven MOA from the clinically successful P2X3 antagonistgefaxipant (MRK), we believe the high selectivity of BLU-5937 could lead to minimal taste effects and drive higher patient compliance and preference than gefapixant, where, if successful, we estimate revenues as early as2024 with over $900M peak global sales potential in RCC with upside from potential label expansion into indications linked to P2X3 hypersensitivity,” Renza noted. ”Despite the PE miss of the ph.II trial in RCC, we believe the stats sig reduction in awake cough frequency in patients with high baseline demonstrated POC and viability of the asset.” It should come as no surprise, then, that Renza joined the bulls. Along with an Outperform rating, the analyst gives the stock an $8 price target. This target conveys his confidence in BLU’s ability to surge ~116% in the next twelve months. (To watch Renza’s track record, click here) Turning now to the rest of the Street, other analysts also like what they’re seeing. With 3 Buys and no Holds or Sells, the word on the Street is that BLU is a Strong Buy. At $8.67, the average price target indicates ~134% upside potential. (See BLU stock analysis on TipRanks) To find good ideas for penny 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.

  • When the next stimulus checks go out, how much will your family get?

    Speaker Nancy Pelosi and other congressional leaders have created a formula for the IRS.

  • Stocks To Watch: Square Among 7 Stocks Expecting Up To 128% Growth In 2021

    What are the fastest-growing stocks to watch in 2021? Here's a list featuring DocuSign, Square, Daqo and four other stocks expecting up to 128% growth.

  • Dow Jones Futures: Stress Test Your Portfolio; Apple, Nio Flash Sell Signals; Roku Leads Earnings Movers

    As the market fights a pullback, it's time to stress test your portfolio. Apple and Nio flashed sell signals. Roku rose on earnings.

  • Biden’s $2 Trillion Green Plan Could Send This Stock Soaring

    One massive project changed the face of America in 1935. But now, Biden’s set to continue this plan 85 years later, creating sweeping changes across the nation

  • Palantir Slides With Nearly All Shares Unlocked for Trading

    (Bloomberg) -- Palantir Technologies Inc. declined 7% on Thursday after a flood of shares became eligible to sell for the first time.Nearly all shares are now unlocked for trading, the result of an unusual restriction placed on stockholders when the data software company went public. Such lockups are common after initial public offerings but less so for companies that list their shares directly on an exchange, as Palantir did on the New York Stock Exchange in September.Two longtime investors said in interviews that they will hold, but at least one other, billionaire George Soros, has publicly signaled his plans to exit.Palantir has amassed a long list of shareholders in the nearly two decades since it was founded. But starting in September, only a fifth of their shares could be traded. On Thursday, almost all stockholders got the option to sell as much as they’d like for the first time.The expiration of a lockup is a volatile time for any company but could be especially so for Palantir, which was privately held for an exceptionally long time and which courts a great deal of controversy. Its co-founder and chairman is Peter Thiel, the venture capitalist who backed Donald Trump’s successful bid for the U.S. presidency and became a pariah in Silicon Valley. Palantir, which relocated from the Valley to Denver, works with the military, immigration enforcement and intelligence agencies, all of which draw public scrutiny and howls for surveillance overreach.Soros Fund Management, which revealed in November it began investing in Palantir in 2012 and owned 18.46 million shares, has said it will sell for ethical reasons. The firm said at the time that it had sold all it was able to and “will continue to sell shares as permitted.”“SFM does not approve of Palantir’s business practices,” the firm said in a statement last year. “SFM made this investment at a time when the negative social consequences of big data were less understood. SFM would not make an investment in Palantir today.”Palantir still has plenty of believers. Its tools are used by corporate titans like BP Plc and Merck KGaA as well as governments around the world, nearly a dozen of which are using Palantir to battle Covid-19 and power vaccine distribution. Adit Ventures, which said it holds about $270 million worth of Palantir, told Bloomberg it will sell few, if any, shares on Thursday. Ditto for PHX Financial, which said it holds more than $10 million. Ark Invest has also indicated its support.Palantir’s stock has more than tripled since going public. But the lockup loomed over the company’s quarterly financial report on Tuesday. Despite exceeding analysts’ expectations on revenue and other measures, concerns about growth prospects and the lockup expiration sent the stock falling.Speaking in a prerecorded video shown to investors Tuesday, Chief Executive Officer Alex Karp walks through snowy woods and discusses the perils of technology companies managing for quarterly expectations and “near-term myopism.”Cathie Wood, CEO of Ark Invest, backs that philosophy. “Palantir’s attitude is refreshing,” she said in an interview on CNBC. “It’s exactly how we invest. We want our companies to invest aggressively. We don’t want profits now.”Palantir has now fallen for six consecutive trading days, the longest streak since its September debut(Updates shares in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • GameStop shares jumped as Keith ‘Roaring Kitty’ Gill presented bullish thesis to House committee

    GameStop's stock price jumped on Thursday as Keith 'RoaringKitty' Gill provided testimony before the House Financial Services Committee.

  • Nvidia's New Ethereum Mining Chip: What You Need To Know

    In a bid to capitalize on the run in cryptocurrencies, graphics chip giant NVIDIA Corporation (NASDAQ: NVDA) unveiled Thursday a new chip to be used exclusively for mining. What Happened: Nvidia unveiled the Nvidia cryptocurrency mining processor, or CMP, product line for Ethereum mining, the company said in a blog post. Ethereum is the second-largest cryptocurrency after Bitcoin and is currently perched at a record high above $1,900. The GMP products are meant for professional mining and do not meet the specifications required of a GeForce gaming GPU, Nvidia said. They will be available for sale through authorized partners. These chips, the company said, are optimized for the best mining performance. They lack display outputs, allowing improved airflow and the scope for dense packing. Additionally, they have a lower peak core voltage frequency to improve mining efficiency. "With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers," the company said. As part of the initiative, Nvidia said it has taken measures to downgrade the performance of its GeForce RTX 3060 graphic chips, due for launch Feb. 25, so that it's less viable for mining. "RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent," the company said. Related Link: What is Cryptocurrency Mining? Why It's Important: Not too long ago, chipmakers such as Nvidia and Advanced Micro Devices, Inc. (NASDAQ: AMD) derived a substantial amount of revenues from mining chips. A lawsuit filed in 2017 alleged that about 60% to 70% of Nvidia's GeForce revenues in China were from sales to crypto miners and not gamers. As these digital currencies fell out of favor with investors in the subsequent years, mining revenues of the chipmakers tapered off. A logical extension of the resumption in crypto rally is increased mining — a term used to refer to adding transactions to blockchain, which entails verifying and securing transactions. It requires a computer with superior processing power and a special program for solving complicated mathematical problems to validate transactions. At last check, Nvidia shares were down 1.35% to $588.19. See more from BenzingaClick here for options trades from BenzingaWhat Palantir's Lock-Up Period Expiration Means For InvestorsTesla Bear Gordon Johnson: EV Price Cuts Point To Softening Demand© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Why some SPAC investors may get burned

    SPACs raised a record $45 billion in the first two months of the year but investment advisors warn individual investors to be careful they don't get burned.

  • Retirement Balances Hit Records, So Do Ranks Of Fidelity 401(k) And IRA Millionaires

    Millions of retirement savings accounts hit record balances in the fourth quarter. The number of IRA and 401(k) millionaires also set records.

  • Gold Goes From Commodity Leader to Laggard in Shocking Reversal

    (Bloomberg) -- Gold entered 2021 with lofty expectations on the back of a record high and its biggest annual gain in a decade. Instead, the precious metal is off to its worst start in 30 years.Bullion for immediate delivery dropped to a seven-month low on Friday, and futures also declined, deepening a slump and falling through a support level that analysts say could portend further losses.The metal, which surged last year on pandemic-induced haven buying, low interest rates and stimulus spending, has dropped more than 6% in 2021, the worst performance on the Bloomberg Commodity Index. It’s suddenly facing a host of unexpected stumbling blocks. Chief among those are the surprising resilience in the dollar and a rally in U.S. Treasury yields as economic indicators show recovery from the pandemic is well under way.With “rates going higher and inflation expectations peaking out, we’re seeing a lot of profit-taking in gold and people are going from gold into industrial metals such as copper,” said Peter Thomas, senior vice president at Zaner Group in Chicago. “It’s a perfect storm.”The 6.7% decline in spot gold in 2021 is the worst start to a year since 1991, according to data compiled by Bloomberg. A gain in 10-year Treasury yields is weighing on demand for non-interest-bearing bullion, with the metal extending losses after forming a so-called death-cross pattern earlier this week. Yields on 10-year Treasuries climbed to the highest levels in about a year this week.“Gold appears now to be taking notice of what bond markets have been saying for a number of weeks, that is that the interplay of better growth and monetary policy probably means higher interest rates at some stage this year,” said Michael McCarthy, chief market strategist at CMC Markets. “And of course, for a non-yielding asset like gold, that’s particularly bad news.”“If gold does move strongly through $1,765, the downside potential is very, very large,” said McCarthy. “That would break the seven-month trading range and potentially see gold moving into a new, lower trading range.”Spot gold dropped as much as 0.8% to $1,760.67 an ounce, the lowest intraday level since July 2, and was at $1,772.68 at 6:45 a.m. in London. Silver, platinum and palladium all declined. The Bloomberg Dollar Spot Index was flat.Jeffrey Gundlach, the veteran investor and chief executive officer of DoubleLine Capital LP, who has been neutral on gold for over six months, said in a Twitter post Bitcoin may be benefiting from stimulus rather than bullion.Gold could still mount a comeback. Goldman Sachs Group Inc. analysts led by Jeffrey Currie said in a Jan. 27 note that with prospects for additional stimulus and Federal Reserve interest rates on hold, the metal “remains a compelling investment for the medium-to long-term investor.” That’s even as near-term dollar strength could present a hurdle, the bank said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Why Grayscale And Mark Cuban Bullish On Ethereum At $1,900

    What happened: The second-largest cryptocurrency by market cap, Ethereum (ETH), reached a new all-time high of $1,900 earlier today. This new high means that ETH is officially up 2000% since March 2020, while Bitcoin (BTC) is up by 1200%. Why it matters: In the wake of Bitcoin’s disruption, the second-largest cryptocurrency might have been overlooked by newer investors in the crypto space. However, many analysts and crypto industry proponents believe that at current levels, ETH is undervalued. Institutions are currently choosing to buy more $ETH than $BTC. Couldn't be more clear that they see $ETH as undervalued. https://t.co/7E4dV8lLc6 — James Spediacci ⟠ (@JamesSpediacci) February 12, 2021 Leading digital asset manager Grayscale recently opened its Ethereum trust to accredited investors and has since been buying large amounts of ETH each day. On February 12, the asset management firm bought 52,730 Ethereum, which over $94 million worth of ETH, or $8 million worth of BTC. Institutional buying and the belief of industry proponents aside, the asset did receive some new backing from popular investors. Billionaire tech investor Mark Cuban recently stated that “ETH has an advantage over BTC as a store of value.” The Dallas Mavericks owner is most excited about smart contracts that are developed on the Ethereum blockchain, powering decentralized applications (dApps) and decentralized finance (DeFi). According to Cuban, most of this innovation is happening on Ethereum, which leads him to believe ETH is becoming a better store of value than BTC. See more from BenzingaClick here for options trades from BenzingaEthereum Surpasses Bitcoin To Become Largest Network For 'Trustless' Money Settlement© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Ark Invest Backs SPAC Merger For Quantum-Si, A Company Founded By Butterfly Network's Jonathan Rothberg

    A SPAC deal announced Thursday will see a company working on a new protein sequencing on a chip go public. The SPAC Deal: Semiconductor company Quantum-Si is going public in a SPAC merger with HighCape Capital Acquisition Corp (NASDAQ: CAPA). The deal values Quantum-Si at $925 million. An oversubscribed PIPE of $425 million included investment from accounts advised by Ark Invest, the firm led by Cathie Wood. PIPE investors will own 29.1% of the company after the merger. Shares will trade as "QSI" on the Nasdaq if the merger is approved. Current HighCape Capital Acquisition shareholders will own 7.9% of the new company. About Quantum-Si: Planning to launch a chip-based proteomics solution, Quantum-Si believes it can change the protein and genomics markets. Quantum-Si created the first next-gen protein sequencing platform with the goal of revolutionizing the field of proteomics. The company will start by decoding the molecules of life starting with proteins with the potential to expand the scale to genomics. The company is led by Dr. Jonathan Rothberg, who is also the founder of Butterfly Network Inc (NYSE: BFLY). Rothberg founded over 10 companies and is an award winner in the technology and medical fields. Butterfly Network, which is backed by Bill Gates, recently completed its SPAC merger. Related Link: Cathie Wood Adds Longview Acquisition SPAC Ahead Of Deal With Butterfly Network Growth Ahead: A commercial launch for Quantum-Si is scheduled for 2022 beginning with research use. The company is targeting a $21 billion market. Applications for the chips from Quantum-Si could include diagnostic applications and drug discovery. Quantum-Si uses protein to show what is happening instead of DNA which shows what could happen, according to the company’s presentation. The company believes it has a scalable semiconductor chip that could expand to home testing sometime after the year 2024. Financials: Quantum-Si is a pre-revenue company with no revenue anticipated until 2022. The company sees revenue of $17 million in fiscal 2022. The fiscal years of 2023, 2024 and 2025 have respective revenue projections of $49 million, $104 million and $186 million. By 2025, Quantum-Si anticipates it can have over 5,000 devices installed. Price Action: Shares of HighCape Capital Acquisition are up 51% to $15.70 in early Thursday trading. See more from BenzingaClick here for options trades from BenzingaNo 'Zelda: Breath Of The Wild' Sequel Reveal At Nintendo DirectCathie Wood Talks Tesla, Bitcoin, SPACs And More On CNBC: Here Are The Highlights© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • What Palantir's Lock-Up Period Expiration Means For Investors

    Palantir Technologies Inc (NYSE: PLTR) shares came under pressure Thursday, extending the stock's losses for a sixth straight session. Lock-Up Expiration Floods Market With Palantir Shares: Data analytics company Palantir went public Sept. 30 through a direct listing, a relatively inexpensive method of going public. It's facilitated by the bypassing of intermediaries and directly selling to the public. The offering was priced at $7.25 per share. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. However, Palantir opted to impose a restriction and allowed insiders to cash in on only 20% of their holdings on the day of the listing. The remaining 80% was not to be freed up for liquidation until after the release of Palantir's fourth-quarter results. "This will make approximately 1.8 billion shares available for sale, representing roughly 80% of outstanding shares," William Blair analyst Kamil Mielczarek said in a note. The number appears mammoth when compared to the average three-month trading volume of 74.33 million shares. Palantir shares, which ended their debut session at $9.50, began a leg up in late October. Thanks to a steady rally, the stock hit a record high of $45 Jan. 27, a gain of about 375% from the stock's debut. The stock has since then pulled back, with the impending lock-up expiry on the mind of investors. The downward spiral was also abetted by an uninspiring fourth-quarter print, with some on the sell-side questioning the achievability of the long-term targets provided by the company. Related Link: Palantir To Debut New Software, Apps At Inaugural Demo Day Mixed Stance On Palantir From Funds: Soros Fund Management, which was among the earliest investors in Palantir, said following the listing it had sold all the shares it was permitted to sell and will continue to sell. The fund's 13F filing for the fourth quarter revealed it held 18.458 million shares of Palantir valued at $434.68 million. On the other hand, others, including Adit Ventures, PHX Financial, and Cathie Wood's Ark Invest, have signaled they will hold Palantir shares, Bloomberg reported. PLTR Price Action: At last check, Palantir shares were down 7.61% to $25.02. Related Link: Morgan Stanley Downgrades Palantir, Says Risk/Reward Paradigm Shifts Decidedly Negative Photo courtesy of Palantir. See more from BenzingaClick here for options trades from Benzinga4 Palantir Analysts Debate Data Analytics Company's Mixed Q4, Eye End Of Lockup PeriodPalantir Investors Pull Back After Q4 Print: What You Need To Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Why SunPower Stock Is Falling by Double Digits

    (SPWR) stock was dropping by more than 11% on Thursday as Wall Street’s expectations for the solar-power installer have shifted. It’s gone from a company with strong potential whose stock rose 400% last year despite losing money, to one that’s now expected to produce consistent profits. Its fourth-quarter earnings report, released late Wednesday, didn’t quite match those expectations on the revenue side.

  • Cassava: Potential Alzheimer Treatment Opens Door for Lucrative Licensing Deal

    There has been a lot of buzz around Cassava Sciences (SAVA) recently; The biotech is on a quest to achieve what so many others have failed to do - bring a viable Alzheimer’s treatment to market. According to H.C. Wainwright analyst Vernon Bernardino, the company has the potential to deliver on its promise. Driving the bull case for Cassava is simufilam, its Alzheiemr’s disease (AD) candidate for which the company recently released encouraging data from an open-label clinical trial. Following 6 months of treatment, simufilam was found to improve cognitive functions and patients’ behavior. “Importantly,” Bernardino says, “As simufilam works by targeting filamin A (FLNA), a scaffolding protein found in altered form in the neuronal cells of AD patients, we now look for Cassava Sciences to sign a lucrative licensing deal for ex U.S. rights to simufilam’s clinical development and commercialization in the second-half of 2021.” The AD drug development field has been ruled by the targeting of β-amyloid and tau protein, which has led to “failed clinical programs and no approved drugs that change the course of AD progression.” Bernardino thinks simufilam’s target, altered FLNA, “represents a scarcity in AD drug development,” which will only enhance simufilam’s value. The 5-star analyst believes the company could nab an upfront licensing deal of over $1.5 billion, with regulatory and milestone-driven payments, and “mid-double digit royalty payments from a prospective partner.” Moreover, recent financing has boosted the company coffers by $200 million. The strengthened balance sheet “significantly de-risks completion of simufilam’s clinical development and future commercialization.” It will also mean Cassava can approach the negotiating table in a strong position, so it can keep the full rights to simufilam in the U.S. and Canada. Bernardino expects simufilam to advance through a pivotal study and anticipates approval by 2026. The analyst also now believes it can achieve 20% peak penetration of the AD market, compared to his prior 12% penetration estimate. This figure, he says, “leaves ample room for additional innovative therapies for AD to move forward and gain regulatory approval, as well as upside to our models.” In addition to reiterating a bullish call, Rusch gives SAVA a $66 price price, which shows his confidence in ~29% upside for the next 12 months. (To watch Bernardino’s track record, click here) 2 other analysts are currently following Cassava’s progress, and both are also Buyers. The Strong Buy consensus rating is backed by a $56.67 average price target, implying upside of 11% over the next 12 months. (See SAVA stock analysis on TipRanks) To find good ideas for healthcare 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.