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On September 16 2020 09:41 LegalLord wrote:
Anyone look at real estate lately (actual properties more so than REITs and the like)? Looks like a really strange frozen market. Selling is down, prices are flat, and there's every indication that landlords are dealing with significant financial pressure. Given how absurdly dependent our economy is on maintaining rising housing prices, it's no surprise that desperate measures were taken to backstop that part of the economy. Lower interest rates, and in the US, a whole year of legislated forbearance for a wide swath of mortgages.
It doesn't look anywhere as capricious as the stock market, but very much unsettling in its own way.
Maybe people have experienced the horror of Coronavirus lockdown within the confines of a tiny apartment in a big city like New York and don't want that.Personally I'd rather lockdown somewhere with a garden and a bit more space.
We're seeing more people work from home and they can do that easily from the suburbs.
Seems like it will take a long time for places like NYC, Chicago and LA to recover, if they ever fully do.
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Investing in bitcion are profitabl now?
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To answer that question, one would require knowledge of the future. No one has that.
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Anyone been following Nikola Motors? Looks like its CEO resigned after all but admitting to securities fraud, then the stock dropped a solid 30% to a mere $10B valuation. Not bad for a company with no product to boast of!
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United States44016 Posts
On September 23 2020 22:57 LegalLord wrote:
Anyone been following Nikola Motors? Looks like its CEO resigned after all but admitting to securities fraud, then the stock dropped a solid 30% to a mere $10B valuation. Not bad for a company with no product to boast of!
Their gravity powered vehicles will be revolutionary.
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I owned a gravity powered vehicle when i was a child. It was especially fun to use in winter.
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On September 24 2020 01:41 Simberto wrote:
I owned a gravity powered vehicle when i was a child. It was especially fun to use in winter.
If it was anything like the one I owned, it did nothing at all most of the time tho. Even in winter.
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United States44016 Posts
I bought 3,300 shares of GameStop on 7/16/20 at $3.81/share. They'd be worth $10.50/share if I still had them.
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removed because no real content.
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On September 23 2020 22:57 LegalLord wrote:
Anyone been following Nikola Motors? Looks like its CEO resigned after all but admitting to securities fraud, then the stock dropped a solid 30% to a mere $10B valuation. Not bad for a company with no product to boast of!
No P/E?, it's less investing at this point and more just outright gambling.
There were many companies like this during the dot-com bubble.
Better odds at the casino.
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On September 24 2020 02:10 KwarK wrote:
I bought 3,300 shares of GameStop on 7/16/20 at $3.81/share. They'd be worth $10.50/share if I still had them.
they still are worth around that, even though you don't own them!
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On September 24 2020 02:00 Acrofales wrote:Show nested quote +On September 24 2020 01:41 Simberto wrote:
I owned a gravity powered vehicle when i was a child. It was especially fun to use in winter. If it was anything like the one I owned, it did nothing at all most of the time tho. Even in winter.
Mine were so effective that it even managed to flip me in midair and slam my leg into a tree, which let me be the cool kid with a leg in a cast for a good month.
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Should one follow biotech companies to see which one comes with the first (effective) coronavaccine and pounce on that, or is that very unwise?
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On September 24 2020 22:12 Uldridge wrote:
Should one follow biotech companies to see which one comes with the first (effective) coronavaccine and pounce on that, or is that very unwise?
Probably too late to matter. Even the questionably viable also-rans like Moderna already got a huge production contract "just in case" their vaccine is the winner. There will be a boost for being the winner, but that's pretty far off and it'll be a small boost compared to hyping up the first time an antibody response was measured in an early test.
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I recently started investing in real estate, which is super interesting but quite difficult
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Lot of fun layoff news recently. Lot of universities across the board cutting staff, Disney had a big one for Disneyland in California, many assorted companies with trouble offering in-person services, and of course airlines and oil are getting hit hard.
Airlines:
Two major American airlines are threatening to cut roughly 32,000 jobs in the coming weeks unless Congress delivers another taxpayer-funded bailout—and Speaker of the House Nancy Pelosi (D-Calif.) is preparing to clear the runway.
In a statement on Friday, Pelosi called on airlines to delay planned layoffs that were scheduled to begin after a previous round of federal support expired. Pelosi said House Democrats were working to extend another round of emergency aid to airlines in a stand-alone bill after the passage of a larger coronavirus relief package stalled in the Senate.
American Airlines and United Airlines announced plans this week to slash 19,000 and 13,000 jobs, respectively, after the expiration of a $32 billion aid package passed in March. That bailout, part of the $3 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, allowed airlines to tap into federal assistance as long as they kept at least 90 percent of their staff on payroll through the end of September.
With that deadline now passed and air travel still suffering due to the COVID-19 pandemic—passenger air traffic is running at roughly 30 percent of 2019 levels, Reuters reported on Friday—airlines are expected to cut unnecessary staff. But those layoffs create a political problem for congressional leaders and the Trump administration, neither of which want to see unemployment climb again in advance of the election. The airlines are seeking another $25 billion.
"An airline bailout is bad policy and bad use of taxpayers' money," says Iain Murray, vice president of the Competitive Enterprise Institute, a free market think tank.
Source
Oil:
Suncor Energy is cutting as much as 15 percent of its workforce—a total of 2,000 jobs—as demand destruction and low prices have created an adapt or die scenario for oil companies to contend with.
Suncor notified its employees on Friday that it would make the cuts within the next 12 to 18 months, according to Bloomberg.
The Calgary-based oil company is unsure exactly what form the job cuts will take—whether it will be in the form of natural attribution, early retirements, voluntary buyouts, or another method.
Suncor’s job cuts follow Shell’s job cuts earlier this week and the suicide of a BP executive who was laid off during the oil company’s struggle to adapt to the conditions created in the oil market by the coronavirus pandemic.
They are not the only companies that have taken to cutting jobs, and cutting jobs isn’t the only method oil companies are using to conform to the new normal.
The shale patch has seen a rash of bankruptcies over the last few months. The most recent examples of shale patch bankruptcies include Oasis Petroleum and Lonestar Resources, but the number of bankruptcies are measured in the dozens.
The IEA, OPEC, BP, and Total all have issued grim forecasts of oil demand growth and industry in general, and oil companies are scrambling to make changes that will allow them to survive over the course of not just a few weeks or months or even years should these grisly forecasts turn out to be accurate.
Source
Universities (old source, but you can see individual layoffs daily):
Ahead of the coming reopening of further education, universities and colleges around America are beginning to announce massive layoffs and job cuts, citing financial difficulties caused by the coronavirus pandemic.
Public and private university systems announcing cuts to staff, pay and benefits include the University of Massachusetts, California State University, Boston University, University of Arizona and many others.
But the actions have not gone unopposed and have triggered protests, outrage and lawsuits from staff and unions in an attempt to halt, or even reverse, the layoffs.
Budget shortfalls have already resulted in steep cuts to higher education funding from state governments around the US, as state university systems are losing millions in revenue with severe gaps in federal relief to cover the losses. Private colleges are also grappling with deficits and budget shortfalls from lost revenue such as cancelled on-campus events, room and board, costs of online learning infrastructure, and declining enrollment.
Source
I guess the airlines are still technically holding out hope that they might get another big chunk of money, but at this point I think just about everyone understands that throwing more bailout money at them is throwing good money after bad. Time to let the airlines just fall of the cliff.
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Are stocks like Uber/Lyft expected to make a big shift depending on whether or not Prop 22 in California passes?
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Uber’s long term value probably lies more in if they can perfect driverless vehicles.
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On October 23 2020 09:37 RowdierBob wrote:
Uber’s long term value probably lies more in if they can perfect driverless vehicles.
Pretty much this.
Until I tried working for one of those services, I did not understand how these companies could be bleeding so much money.
But like, especially for food delivery they are trying to build the cost of delivery into the price and essentially make the food free. Free delivery sounds good and all, but what some people don't realize that the delivery costs them like $10 to make, and they can only scalp so much money from service fees, charging restaurants, having different menus in restaurants vs online, etc.
They are trying to make the service appear cheap to encourage people to use it, but the cost of delivering that service is higher than most people are willing to pay.
That said, there is a lot said for taking market share, and there's plenty more they could expand to. One day I can see them take all intracity deliveries, add trucks and whatnot for commercial routes too. So in theory it the industry could have a 500B market capitalization no problem. Too many unknowns for me to have an opinion on whether to go long or short.
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You can also get a $500B market cap by selling dollars for 90 cents directly rather than with this roundabout "business model" thing.
It's a good bubble to ride, if you get in & get out at the right time, but there's no actual path to a viable business there. The entire shtick about the self-driving cars is just a "it's not a [actual core business] company, it's a [some other shiny wildcard] company." Standard tech spin to bubble up the valuation. Of course, if you do ride the stock up the curve, you get to make some solid profits.
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EPT
