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Analyst Upgrades Fitbit Ahead of Push into MedTech Space
Fitness tracker Fitbit Inc (NYSE: FIT)'s announcement it will enter the health care and medical technology space is a bullish catalyst for the stock. The Analyst Wedbush analysts led by Michael Pachter upgraded Fitbit from Neutral to Outperform with an unchanged $6.50 price target. The Thesis Fitbit on Sept. 19 launched a new connected health platform called Fitbit Care, which
Argentina and the IMF: Second Time's a Charm
Like shock therapy, Argentina’s new lending agreement with the IMF delivers immediate benefits: increased funding and front-loaded disbursements to meet the country’s budget through next year. It also comes with serious side effects, including a likely deep recession in Argentina and the risk of political resistance leading up to the country’s elections in 2019. Still, from an investment perspective, we
Seeking Alpha in Bitcoin or Ethereum? Try Cryptocurrency Hedge Funds
Cryptocurrency hedge funds are still a fairly new investment vehicle, but we’re already getting a pretty good idea of how they stack up against simple passive investments in two common underlying currencies. The bitcoin price and ethereum price have both plunged this year, leaving cryptocurrency hedge funds scrambling for cover. However, performance data shows that in a down year, investing
Facebook Says Hackers Accessed Millions of Emails and Phone Numbers
Do you want the good news first or the the bad new? Here's the good news: The security breach Facebook announced in September actually affected 20 million fewer people than initially thought. About 30 million users instead of 50 million were hacked. Here's the bad news: Facebook says that 14 million of the 30 million users who were hacked had
The Big Shorts Dig into Tesla
Tesla, Inc. (NASDAQ: TSLA) short sellers have been an obsession for CEO Elon Musk in 2018. Unfortunately for Musk, the short sellers have had the winning trade as of late, with Tesla stock down 28.9 percent in the past year and Musk being forced out of his chairman role as part of a tentative settlement with the SEC. But rather
Doubts Raised About Bloomberg's China Hacking Story
Last week Bloomberg Businessweek published a blockbuster story that detailed how manufacturing subcontractors in China allegedly carried out a complex attack on about 30 American companies, including Amazon and Apple, by implanting small microchips – “not much bigger than a grain of rice” – on the motherboard of servers used for compressing videos in a multitude of electronic devices. According
China Equity Markets: Pockets of Opportunities, Fundamental Research Is Key
Following a substantial run-up in 2017, China's stock markets experienced notable volatility in recent quarters. The MSCI China Index was down roughly -9% year to date measured in U.S. dollars as of September 30, 2018, while China's mainland, domestic A-shares were down nearly -20% measured in U.S. dollars for the same period. Valuations among A-shares in particular are reaching the
Blockchain Experts React to Roubini’s Explosive Testimony
Following up on my article earlier today about the Senate hearing on cryptocurrencies and blockchain, below are additional comments from blockchain experts about Roubini’s testimony. See their comments below Ken Lang, ndau Collective Member, the world’s first buoyant digital currency designed and optimized for a long-term store of value: “Roubini’s testimony and prepared remarks offer an incorrect characterization of the
Cryptocurrencies Saw About $13 Billion in Value Erased in Three Hours
Stop us if you've heard this one before: Cryptocurrencies suffered massive losses that has placed its record highs of 2017 further in the rearview mirror. In a year of unrelenting terrible news for digital coins, Thursday's results were a doozy: Bitcoin had dropped almost 5 percent in morning trading to $6,303, while XRP and ethereum both plunged more than 10
Report: SoftBank Could Be Making a Massive Bet on WeWork
SoftBank is in talks to make an investment in WeWork totaling between $15 and $20 billion, giving it a majority stake in the New York-based shared office space provider, the Wall Street Journal reports. The investment would likely be coming out of SoftBank's $92-billion Vision Fund, according to the Journal. In addition to SoftBank, the Vision Fund is mostly backed