BREAKING: NY/NJ/CT Governors in joint announcement say all bars, restaurants, casinos, will close in New Jersey, New York and Connecticut on Monday night. Restaurants only open for take-out and delivery.
BREAKING: NY/NJ/CT Governors in joint announcement say all bars, restaurants, casinos, will close in New Jersey, New York and Connecticut on Monday night. Restaurants only open for take-out and delivery.
"Marijuana has gone mainstream, casino gambling is everywhere and sports wagering is spreading. Could prostitution be next?" With imperfect language, the New York Times discusses decrim bills in ME, MA, NY, DC, and more.
Here on a Sunday night to give you autists some time to cross-check my info, start your RH instant deposit, and let your wife's bf know you're coming back with a vengeance. Here's an in-depth analysis on DraftKings and how to maximize profits over the foreseeable future to squeeze this for every tendie we can. Now that many states face revenue shortfalls due to the coronavirus pandemic and wider budget deficits, there needs to be a push to fill that gap and nothing is better positioned than sports betting. As you all know, $DKNG came to market through a SPAC merging with Diamond Eagle back in April, at the worst of the pandemic when live sports were dead and there was more uncertainty than ever for what was to come. Jason Robins, Draft Kings CEO, has balls of steel and knew that they needed to get to market quickly for a sports betting run-up the likes of which we've never seen. Sports are now on their way back, with a huge amount of positive catalysts coming up in the next few months to skyrocket this stock to the moon and beyond.
I want to clarify that a large amount of my conviction from this play comes from the incredible management team leading the company. CEO Jason Robins is a stand-up guy and has led the company through a huge amount of scrutiny since its founding in 2012. He comes from a data analytics background which could not be a better fit for the sports betting business. He prioritizes the high speed data that fuels the DraftKings platform as its most valuable asset and speaks often on the commitment his team has to ethical values and encouraging a trustworthy environment for its users to gamble their paychecks on the DraftKings platform. I've linked a great interview to get to know the CEO and give further insight into DraftKing's plans moving forward below and highly recommend anyone going in on this play give it a quick watch. Jason is optimistic about the future of state's legalizing mobile sports betting moving forward and says they will continue to invest boatloads of money into customer acquisition costs through TV ads and billboards on a state-by-state basis. Link: https://youtu.be/2OVFB9piEC0 Any of you who have come across DraftKings commercials, YouTube ads, billboards, know that their marketing is on point. This is a great play because DraftKing's expansion has occurred thus far on a state-by-state basis. This means that there's a large part of the nation (actually the majority) that is still ignorant to the sports betting wave that is coming in 2021. DraftKings is positioned extremely well to lead the way into the ~25 states still waiting to pass the bill.
The fact that the top 4 states in the country still have not legalized online sports betting presents a HUGE opportunity to ride this wave with little downside risk. Sports have already gone through the worst-case scenario during COVID shutdowns and survived—now we’ve got a great amount of positive catalysts coming up (NBA season, March madness, Super Bowl, etc.) that the general population is begging for some action on, paired with more money in their pocket from significantly less entertainment costs since the pandemic started. The Wuhan Virus gave DraftKings a shot in the arm to streamline its way into most (if not all) of the remaining state's ballots during Q1 and Q2 due to the huge cut in tax revenues that the lockdowns caused across the country. Governor Cuomo of New York released a statement last week stating he is now considering the passing of mobile sports betting in order to raise the state's tax revenue during a time where Congress completely skipped them over in terms of providing aid through the stimmy. New York is a huge catalyst moving forward. In my opinion, this is a make or break for how things look for DraftKings moving forward, and will largely influence how other states react. Mobile sports betting scares states as it is new and so accessible, but if you do research into the Powerball and other loterry companies, it just took a push in the right direction for states to realize how much money they are leaving on the table by not participating in these emerging markets. Sports betting has already benefited the 9 states which passed the bill (NJ leading the way) and has NY as well as every other governor, feeling major FOMO. Current states where online (mobile) sports betting laws have passed:
Legislation aside, the other huge catalyst is DraftKing's unique approach to owning its own data and proprietary tech stack. I believe that this will be where DKNG separates itself from the competition that is rushing to this space and will give it the upper hand in acquiring, and retaining, a large percentage of new users across opening states. From investor presentation:"Upon close of the business combination, DraftKings will become the only vertically-integrated pure-play sports betting and online gaming company based in the United States. Through the business combination, DraftKings expects to realize synergies by transitioning its risk and trading sports betting platform to SBTech’s, instead of relying on a third-party platform. In addition to reducing costs, DraftKings will control its backend system and product roadmap, differentiating the company from other U.S. operators and giving it the ability to tailor its sports betting product to U.S. sports and users." "SBTech is a global leader in omni-channel sports betting and gaming, with more than 1,200 employees in 10 offices worldwide. Since 2007, the group has developed the industry’s most powerful online sports betting and casino platform, serving licensees in more than 15 regulated territories. SBTech’s clients include many of the world’s premier betting and gaming operators, state lotteries, land-based casinos, horse racing companies, and iGaming start-ups. The group supplies highly flexible betting and gaming solutions to clients looking for exceptional configurability and the quickest route to market, complemented by proven business intelligence and reporting capabilities. The SBTech offering includes its seamless sportsbook, Chameleon360 iGaming platform, managed services, on-property sportsbook and omni-channel solutions that provide players with constant access to sports and casino products across all online, mobile and retail channels. Supported by unrivaled expertise in trading and risk management, acquisition and CRM, and the highest standards of regulatory compliance, SBTech’s partners consistently achieve rapid growth, enhanced brand loyalty and record revenues." DraftKings prioritized OWNING their own backend technology via this merger with SBTech, making them the first, and only company in this space to own their risk and trading platform. This gives DraftKings a huge edge to the rest of the market. It forked up the cash to keep everything in house not only to provide a better customer experience, but also to widen the moat against competitors as new states come onboard. The key here is to clarify that DraftKings and SBTech combined to be the only player in the market with 100% vertical integration and control of their own backend. Jason Robins and the rest of the management team are placing their efforts on having the best technology and the best product and really going all in on owning the U.S. landscape opening up, with as little need for cross-platform interaction as possible. This acquisition of SBTech was a complete game changer because it allowed them to be independent from paying revenue share to a third-party for betting lines and risk management services. Clarification: no other sports betting/fantasy sports/casino company currently has 100% vertical integration on the level that DraftKings has established.
This is where the market is missing the mark. Take the time to read over analyst reports, news articles, and interviews and you'll quickly notice 99% of the general market is completely glazing over DraftKing's iGaming sector. This industry has been a CA$H COW in Europe for awhile now, and is only getting started in the United States. Out of the companies that occupy this space, DraftKings is the only one to create one synergistic platform for Fantasy sports/Sportsbook/iGaming. This will be a huge value proposition that will ultimately rocket DraftKings to the top of the gaming market and solidify it as THE gaming powerhouse moving forward. The infrastructure driving DraftKing's products and Tech (all in one platform) Anyone that's watched the run of Skillz and the hype pushing PaySafe, knows how much anticipation there is for iGaming to become the new norm in the world of gambling. DraftKings has emerged as the market leader in each state they've launched in, and continue to gain more and more market share. Once new users get introduced to their platform, the cross-selling opportunity is limitless and creates an extremely sticky customer acquisition cycle. Competitors like Penn and MGM are dinosaurs in this space and have been playing catch-up to DraftKings since 2012. The new age of gamblers don't want to drive to a physical casino location or buy a home desktop to gamble. Everything will be mobile and run in real-time. DraftKings has been building an incredible live-sports ecosystem (first to market) and innovates the possibilities of what you can bet on a daily basis. Just download the app for yourself and do some exploring. I believe this is going to boom in the TikTok/millennial crowd as more states start to hop onboard.
Pulled from the investor presentation, $DKNG has smashed every one of their 2020 assumptions listed below. For any stats guys out there, I would love to see some models at how much of this market is still up for grabs. DraftKings has positioned themselves to be at the head of this movement, and I believe that 2021 will be the year we really see them take off into triple digits share prices. The catalysts are there, and the market is ripe for the taking. Their projections are extremely conservative and management lets the numbers do the talking. In my opinion, this is a bet on the management putting the dots together to EXECUTE as state legislation starts to go their way, once NY happens this shift will occur rapidly. https://www.sec.gov/Archives/edgadata/1772757/000110465920032214/tm2012476d1_425.htm The management is incredible and truly displays a vision for wanting to prop up shareholder value in the long-term through valuable data, a fully integrated platform, and aggressive customer acquisition to take control of this market as states realize the economic deficits which they are facing going into a new year. This along with the unprecedented hype that is going to be involved with sports events this year, will skyrocket DraftKings to new heights. This is not a bet on sports betting alone, it is a play on a data-heavy and analytically driven behemoth, with strategic partnerships (league, team, and celebrity partnerships) and one of the most aggressive marketing strategies I have ever laid eyes on. The stock soared earlier this years upon news of the Michael Jordan partnership (https://www.cnn.com/2020/09/02/investing/draftkings-michael-jordan-deal/index.html) and there is many, many more big moves in the pipeline.
Long-term I am extremely bullish on people wanting risk to make up a daily part of their lives. The psychology of sports betting resembles that of the lottery and is becoming a must-have for people to have the choice to place bets from the convenience of their mobile phones. We are moving into a future where if risk and leverage are not involved, people will have little interest in dedicating their time to things. This shift can be seen with the boom in retail options trading (shoutout wsb gang) and will have a similar effect in sports, iGaming, and random prop bets/surveys that Draft Kings is innovating heavily in. This is not to mention the infrastructure that DKNG is continuing to build out to rival that of Europe in terms of live sports betting (which makes up three quarters of revenue for online sports books in the UK) and expanding their horizons to lesser betted on sports such as tennis, golf, soccer, etc. If you've gotten this far, congrats you're just a few steps away from striking gold. Any feedback, comments, rebuttals, bear scenarios, etc. please comment. Good luck.
DraftKings has state legislation action coming, incredible management, is data-driven, is vertically integrated/owns its tech stack, has exposure to the full range of new world gaming (Fantasy/Sportsbook/iGaming), and is ahead of its competition forming league, team, and celebrity partnerships. $70c 1/21/22 $90c 1/20/23
Make DKNG Great Again DraftKings is on the bill for legalization in NY and could be passed soon, potentially by the end of the year if politicians aren't cucks for once.. As states are desperate for revenue look for more and more of them to legalize sports betting, and DKNG is the market leader with projections of close to 50% market share in 2021. Disney says that sports wagering is a "key opportunity" and "important area of growth for the company". Guess who owns about 6% of DKNG? DIS. ESPN + DKNG ='s many autists. Sports ratings are down, Covid-19 still exists and it doesn't matter. $936.1 million in autist money is a record for NJ and they only have one hockey team. Upcoming events: NY bill, NBA season, NFL playoffs It's been hovering around 50 for a couple of weeks now and looks like it's ready to breakout again and hopefully retest the ATH of around 64. I'm in for a little over 5000 shares. TL;DR - politicians suck, dis owns 6%, people are betting on sports
Press briefings will be on Thursday from now on (exception of next week, which is Wednesday for Thanksgiving)
Good news: Moderna and Pfizer vaccines are 95% effective (data released Monday/Tuesday), RI will pilot Pfizer vaccine distribution - "there truly is light at the end of the tunnel"
Until the vaccine is available (hopefully some availability by the end of the year, anticipating widespread availability by Spring), we must double down on following restrictions so as to not overwhelm hospitals
See numbers above
'Targeted restrictions' have not helped the situation
Trending data is "alarming" - we have passed all three thresholds (5.9% weekly positivity, 247 hospital admissions, 535 cases per 100,000)
"I have tried to avoid a lockdown" - targeted restrictions are NOT working
"Severe restrictions" being laid out today
Intro - Rationale
With so much community spread, it's hard to pinpoint a single activity/location/group to trace source of infection
Patterns among people testing positive: At-home social gatherings, people going to restaurants/bars, people with others outside household
"Need to reduce mobility, reduce connectivity with people outside household"
"We know that schools are not major spreaders" I can already guess what's staying open...
High schools are more problematic than others
Path from now to end of the year
Current restrictions will be extended until the Sunday after Thanksgiving with two exceptions, effective immediately:
Social gathering limit is lowered to a single household (No social gatherings with people you don't live with)
All "big box stores" (>30,000 square ft) must have a plan for Black Friday crowds and cannot allow anyone without a mask cannot enter (stores should pass out masks)
Please do not travel
If planning to go to a restaurant, please use extreme caution
Stay at home with the people you live with
Rapid testing available at TF Green Airport Sat/Sun/Mon after Thanksgiving and Nat'l Guard to remind anyone who is returning from out-of-state to quarantine
Beginning 11/30 - "RI on Pause"
"Two week pause" in effect until 12/13
Hoping that this will ONLY be two weeks - if it does not work, total lockdown
High schools will shift to limited/hybrid plan after Thanksgiving at discretion of superintendents
Social gatherings limited to one household
Indoor dining at 33%, outdoor dining/takeout not affected
Retail at current capacity limits
Houses of worship limited to 25% capacity with a max of 125 I understand distancing but that's insanity
Colleges will have NO in-person instruction after Thanksgiving and will test all students before they leave campus for the holidays
All offices must move to remote work for everyone who can (521-HELP for technical assistance)
Bars (drinks can be delivered to tables but no bar areas open)
Bowling alleys, gyms, casinos
Indoor sports, gyms, group fitness classes, all sports except college/professional
Stimulus grants announced next week for affected businesses
Comments on "pause"
"This will only work if we do it" - threatening a full lockdown if this doesn't limit our numbers in 3 weeks
"I have been utterly ineffective in getting people to follow rules in their own homes" - jokes about memes showing her arriving at people's houses (one of the few candid moments I've seen from her lately)
Figuring out if it's working - reservation data at restaurants, test positivity, traffic data, enforcement data
Hospitals are currently at 97% of COVID beds filled - we do NOT want to ration beds/limit care
If COVID beds get filled, we may need to start cutting off other procedures incl. cancer screenings, important surgeries to make room for COVID patients
We are on track to need Cranston field hospital by week after Thanksgiving
Hospitals are working with colleges to hire medical students
There will still be greater restriction after 12/13, but cannot comment on exactly what as it depends on how this goes
Improvements to testing
2,000 daily asymptomatic tests added
300 daily symptomatic tests added
Expanding testing site at Wickford Junction
New site at McCoy opened today
New sites at Waldorf School and Stop & Shop in Greenville coming soon
Contact tracing is behind but we are continuing to hire more staff
Check results constantly and immediately isolate if positive (even if RIDOH has not called yet)
Increasing hotels available to people who need to isolate
Expanding food delivery services
Q: CDC saying that in-person learning is dangerous (I'm glad someone asked) A: "I believe that question is a mis-characterization of the data" - referencing Dr. Jha She sounds MAD about this question "we could argue about the risk, but children will suffer irreparable lifelong harm not being in school" She is trusting HS students to follow rules and "districts should keep kids in school if they can" Q: "Wasn't the idea with PPE/testing that we wouldn't have to go back? What happened?" A: "It turns out people don't follow rules very well when we have to do it for so long" Q: What is the goal in terms of ease of scheduling/getting test results and do we need to scale back asymptomatic testing? A: It isn't a perfect system (waiting to get tested) but we are working to fix it. "It's hard for me to believe you can't get a test at all" Personal note: I'm currently trying to get tested (possible exposure at work even though I have no symptoms) and I had to go online to CVS at 3:00 in the morning to get an appointment 3 days later Q: Isn't distance learning with a teacher better than in-person with a substitute? Is there a percentage (like NY) where we would switch to full distance? A: High schoolers work better with distance learning but younger kids really struggle. NY: We do not use a single metric to determine whether to shut down - "as long as schools can keep the environment safe" we will keep them open. Q: Thoughts on a possible 4-6 week lockdown or advisory to governors to do so under President Biden? A: "If congress would do their jobs" and send an appropriate stimulus, we could discuss a lockdown in RI Q: Why is Twin River open until 11/30? A: "If I could shut everything down immediately I would do that" but there is a need to be practical (restaurants who have increased inventory for next week will still be able to use it) Q: Crisis standards of care? A (Dr. Scott): Principles to help hospitals make difficult ethical decisions about care - we do NOT want to get here. (Gina): We cannot staff that many beds - patients may have medical students as nurses or not get checked on at all. We may have to "shut off" non-COVID procedures Q: Nursing home staffing (can people volunteer to bathe their family members, etc)? A: "Caregiver exemption" is in the works (allowing family to get certified to give care similar to CNA) Q: Is RI still independently validating vaccine data despite Pfizer pilot program? A: Yes. Q: Will you get vaccinated? A: I will not be first in line (not necessary), but yes. My apologies, I missed a few questions Q: General assembly? A: They will need to meet before 12/31 to pass a 2021 budget - a space is being set up at the Vets to allow a safe in-person meeting or they may choose to do so virtually Q: HS sports? A: Winter season cannot start until January - no practices at all during pause
Albeit a week late, I want to share my 2021 portfolio for documentation purposes and for whoever is interested. I aimed to balance risk in this portfolio with some growth names and legacy plays. Down to brass tacks, I am putting my money in the highest quality companies (in my view) across a diverse set of industries I find attractive. Some of these names are overvalued in the short term. However, I have realized I am not in the business of beating Wall Street’s pricing, but would rather hold high-quality companies that I believe will grow faster that the market in the long term. In other words, I am totally fine paying a short-term premium for growth and quality. Below is a summary of the portfolio and big picture reasoning behind each investment. I'm definitely open to any feedback.
ARK Genomic Revolution ETF
Evolution Gaming Group
ARK Genomic Revolution ETF (BATS: ARKG) - Invests in companies advancing genomics. The companies held in ARKG may develop, produce or enable: CRISPR, Targeted Therapeutics, Bioinformatics, Molecular Diagnostics, Stem Cells, Agricultural Biology.
Innovative industry. Since 2003 the cost to sequence a human genome has dropped from nearly $3bn to less than $1,000. ARK believes that as costs continue to drop, genomic sequencing will become a standard of care in oncology. It will introduce more science into healthcare decision making, enable personalized medicine, and accelerate drug discovery. ARK estimates that genomic sequencing revenues will grow 43% at an annual rate, from $3.5bn last year to $21bn in 2024.
Cathie Wood. She’s a beast stock picker. Out of all the ETFs she runs, her closest competitor trailed by 60%. Her worst ETF still doubled investors' money. Her strategy is to make investments into companies that she considers incredibly transformational and she has seen success doing it.
CrowdStrike (NASDAQ: CRWD) - Cybersecurity technology company that provides endpoint security, threat intelligence, and cyber attack response services.
Best in class technology. Remember about a week ago a bunch of Russian hackers breached SolarWinds? The same hackers also tried to hack CrowdSrike at the same time but were unsuccessful. I’ve wandered on to a bunch of cybersecurity forums, and the general consensus is CrowdStrike has developed the best cybersecurity solution by miles. CRWD is the undisputed leader in cybersecurity.
“Pick-and-shovel” investment into the world’s increasing digitization. Even in the absence of COVID, cybersecurity remains a key component of the world’s increasing digitization as cyberthreats have been an ongoing issue from the onset of the internet. In the last decade we have seen a bunch of hacks where companies have exposed sensitive customer information. It seems companies are just starting to realize the importance of cybersecurity.
Disney (NYSE: DIS) - Worldwide entertainment company that you all are probably familiar with.
Reopening trade. In 2019, parks generated 45% of total operating income for DIS. Full reopening and attendance in parks will be slow, but certainly benefit DIS when it happens. The company has been executing on several other segments in the meantime (i.e. streaming). It has proved competitive, increasing the margin of safety if parks take longer to reopen.
Fast-growing streaming division. DIS has proved agile as it successfully launched a streaming service, Disney+, that has already gained 86mn+ subscribers which was the company’s original 5 year target. This is promising as it shows management can adapt to rapidly changing technology trends.
Enphase Energy (NASDAQ: ENPH) - Designs and manufactures software-driven home energy solutions that span solar generation, home energy storage and web-based monitoring and control.
Shift to clean energy; ENPH emerging as market leader. Going into 2021, sentiments towards solar have been at an all time high. This trend is expected to continue, especially after the Georgia run-off results. Solar firms are expected to benefit from extended tax incentives on both the consumer and producer ends.
Technological advantage. ENPH has developed the industry leading solution and is rapidly taking market share from its primary competitor, SolarEdge. Pricing reflects this, but it's expected to continue. Among key competitors, Enphase has been one of the lowest cost producers. Its low-cost structure is a major contributing factor to its improving margins.
Evolution Gaming Group (OTC: EVVTY) - Swedish company that develops, produces, markets and licenses integrated B2B live casino solutions for gaming operators.
Early mover advantage. Evolution’s lack of competition enables it to rapidly grow in new markets and create a loyal customer base, with high switching costs. The company has effectively grown EBITA margins from 41.6% in 1Q18 to 64.8% in 3Q20. Margin expansion is expected to continue.
Massive untapped markets. Europe is estimated to be around $2.5bn (EVVTY has 50% market share), Asian market is ~15x the size of Europe (150% YoY growth for EVVTY in Asia). North America’s market is ~$210mn, a 42% increase YoY, with NJ and PA the only states currently operating (NY looks promising). Management thinks the US will be the largest in the long-term.
Undetected from Wall Street. Evolution has almost no analyst coverage in the US and very minimal coverage in Europe, presenting opportunity for additional growth as institutional money managers recognize this opportunity and draw attention to the stock. Additionally, Evolution has a founder-led management team that is highly aligned with shareholders (mgmt owns over 30% of the stock).
Facebook (NASDAQ: FB) - Enables people to connect through devices. It’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus.
Zuck. It’s not a question of who is the next Jobs/Bezos/Gates/Zuck, because Zuck is super young. He has a history of being able to execute: IG acquisition / transition from desktop to mobile / denying multiple acquisition opportunities in his twenties.
Undervalued. FB is the cheapest among the FAANG stocks, yet has some of the highest growth rates. This is mainly because of its continuous political scandals. With Trump out of office, I think FB has a chance to stay out of trouble and start to realize higher multiples. The antitrust lawsuit is not a threat imo, it is actually an opportunity. If the govt forces FB to break up, we would get shares in the spin-offs, which would be valued at a higher multiple than FB. For example, if Instagram spun off from FB and traded at the same multiple as SNAP, Instagram’s market cap would be larger than FB’s.
Digitization of Real Estate (i.e. “iBuying”). Technology in RE is moving from being informational to transactional. Redfin’s iBuying service is dubbed “RedfinNow.” The service basically buys homes from sellers looking for a quick and convenient sale (close deals within 10-30 days). This segment isn’t profitable yet as it is just getting started, but promising as the management adapts to technology trends.
Inter-US Migration and housing outlook. People are moving out of the cities because of COVID / trying to avoid taxes / etc. which increases demand for Redfin’s services. With interest rates extremely low (and no expectation for them to increase), homebuying demand should continue to grow.
RDFN most attractively valued compared to Z and OPEN, with the most upside potential given its market cap ~$7bn. Some are predicting RDFN might start offering rental services as well. RDFN has the best LT margin potential.
Teladoc Health (NYSE: TDOC) - Provides virtual healthcare services on a B2B basis to its clients and provides services to consumers directly and through channel partners.
Competitive positioning in industry ripe for disruption. Healthcare is a huge market yet to be significantly disrupted. COVID has accelerated this disruption. Providers who were once opposed to telemedicine now realize its benefits and several regulatory changes are promising for telemedicines growth potential. Medicare and other government-sponsored coverage is expected to include telemedicine benefits, increasing TDOC’s TAM.
Livongo acquisition. From the consumer POV, this will increase access to healthcare at a lower cost. Teladoc will have access to a larger amount of data it can interpret to refine its services and monetization strategies.
Sea Ltd (NYSE: SE) - Digital entertainment, electronic commerce, and digital financial services. The Company operates three business segments: Garena, Shopee, and SeaMonkey. The Company’s digital entertainment business, Garena, is a global game developer and publisher with a presence in Southeast Asia, Taiwan, and Latin America. Garena provides access to mobile and personal computer online games. Shopee provides users with a shopping environment that is supported by integrated payment, logistics, fulfillment, and other value-added services. SeaMonkey business is a digital financial services provider. SeaMonkey offers e-wallet services, payment processing, credit related digital financial offerings, and other financial products.
Diversified consumer internet company with market-leading position. Sea caters to Southeast Asia and Taiwan, providing its online gaming, e-commerce, and payment platforms. Shopee has overtaken competitors, it is widening its market share lead. ESports is a rapidly growing market (15.7% YoY to $1.1bn in 2020) and Sea is outpacing market growth.
Pay for quality. The best companies keep going up for years in a row, and I think Sea is in the early stages of being classified as such a company. It’s worth $100bn but has effectively proved its ability to identify opportunities and expand business lines.
Still early stages of developing its consumer banking business, so we get the security of a bigger, established company with upside for an additional, lucrative business line such as fintech.
Waste Connections Inc. (NYSE: WCN) - Waste services company that provides non-hazardous waste collection, transfer, disposal and recycling services.
Recession resilient; re-opening trade. The waste management industry is recession resilient, it will always be around.
Non-hazardous waste collection. With a progressive government likely to push climate initiatives, recycling and non-hazardous waste collection are likely to benefit on the back end.
WCN has a large moat; there isn’t much of a competitive threat the way the industry operates. Management’s strategy is to generally only spend what FCF is available. This enables the company to make acquisitions while handling its debt load. Great for stable growth.
P.S. I have two other accounts - one with about 40 growth stocks and another with about 10 big names / ETFs. However, this portfolio has the largest allocation for 2021. My first time trying a more concentrated approach.
Here is a Market Recap for today Friday, November 20, 2020. Please enjoy!
PsychoMarket Recap - Friday, November 20, 2020 Stocks fell Friday with market participants concerned at the lack of fiscal stimulus and the surge in coronavirus the last three weeks will make states reimpose restrictions that threaten to stall business activity in an already tenuous economy. An apparent dispute between the US Treasury and the Federal Reserve also weighed on the minds of market participants. In Washington, Senate Minority Leader Chuck Schumer (D-NY) said during a press conference that Senate Majority Leader Mitch McConnel (R-KY) agreed to pick back up stimulus negotiations. However, given the tenuous political situation surrounding the presidential election and the gridlock that exists in the Senate (majority for the Senate is still undecided), it is highly unlikely that any form of stimulus is passed. For months, Congress and the White House went back and forth regarding stimulus but were unable to come to an agreement. In our opinion, it is highly unlikely that additional fiscal stimulus is granted until the presidential and senate elections are resolved conclusively. Unfortunately, the surge in coronavirus cases shows no signs of slowing down. Yesterday, the US once again set another record high for new infections, hospitalizations. According to data compiled by Johns Hopkins University, there were 187,800 new cases. That’s up 27% compared to last week and by far the most since the pandemic began. Data is trending in the wrong direction, with 44 out of 50 states reporting a 10% increase in new cases compared to last week. According to the COVID Tracking Project, there are around 80,700 people hospitalized with coronavirus in the US, also a new record. That’s an increase of 19.13% compared to last week. Saddest of all, there were more than 2,000 deaths due to the virus yesterday, the highest number since early May, according to Johns Hopkins University. In an effort to combat the surge in cases, governors from both sides of the aisle have announced a variety of new restrictions. California’s governor Gavin Newsom announced that the state is “pulling the emergency brake” on reopening and reinstated broad restrictions throughout the state. In Iowa, Republican Governor Kim Reynolds, who once dismissed coronavirus restrictions as "feel-good" measures, has abruptly reversed course, issuing the state's first mask mandate and limiting indoor gatherings. Illinois, Michigan, and New Jersey announced additional restrictions that limit gatherings to household members. Indoor event spaces are also being ordered to shut-down or move outdoors. In Massachusetts, the governor announced a stay-at-home advisory. Mississippi, Montana, North Dakota are under state-wide mask mandate. These are just some of the examples, there are too many examples to list. Despite the positive vaccine news from companies like Pfizer (PFE) and Moderna (MRNA) it is important to note that it takes time to establish global distribution networks. Widespread availability of a vaccine likely won’t happen until 2021, according to the estimates of experts. In the short-term, the surge in coronavirus cases and the fear of new restriction is driving volatility. Highlights
Had a great day, closed out our BABA alert for 100% this morning.
Pfizer and BioNTech have formally submitted a request for emergency use authorization for their vaccine to the Food and Drug Administration (FDA). It is now up to the FDA to decide whether the vaccine is safe enough for distribution.
Sports betting and online gaming could eventually become a $40 billion business as more people take to their phones to wager on their favorite sports teams and play online casino and fantasy games, according to one analyst at Piper Sandler. We agree.
General Electric Co.'s healthcare business didn't disclose financial terms of the deal agreement to buy the company, called Prismatic Sensors AB. GE Healthcare said Friday it is buying a Swedish start-up that focuses on photon counting detectors.
William-Sonoma (WSM) with two very bullish target increases. Stock currently around $101.
Wedbush from $115 to $130
Barclays from $112 to $144 (wow)
Workday (WDAY) target raised by Piper Sandler from $275 to $285 OUTPEPRFORM.
(UBER) target raised by Needham & Co. from $50 to $60 at BUY. Stock currently around $49.
uniQure (QURE) target rasied by Credit Suisse from $76 to $78 OUTPERFORM. Stock currently around $46 so very bullish.
OneWater Marine (ONEW) target raised by Raymond James from $24 to $26 OUTPERFORM. Sotck currently around $22.5
Mesoblast (MESO) target raise by HC Wainwright from $19 to $20. Stock currently around $12 so very bullish.
Intuit (INTU) with too many target increases to list each one. Average price target around $420 with rating of OUTPERFORM. Stock around $360 currently.
GrowGeneration (GRWG) target raised by Oppenheimer from $25 to $40. We love this stock and have been posting consistently about it the past 2-3 weeks.
Fiverr Int (FVR) target raised by Needham & Co. from $180 to $210. Stock currently around $180.
Canadian Solar (CSIQ) with two bullish target increases. Stock currently around $37.
Oppenheimer from $33 to $48
Roth Capital from $32 to $50.
Berry Global Group (BERY) target raised by Deutsche Bank (DB) from $62 to $70. Stock currently around $55 so very bullish.
Agios Pharma (AGIO) target raised by Barclays from $46 to $50. Stock currently around $41.
Overnight News Heading into Tuesday December 15th 2020
(News Yet to be Traded 8:00 PM - 4:00 AM EST) It is up to you to judge the accuracy and veracity of the below before trading. I take no responsibility for the accuracy of the information in this thread.
TSLA Tesla To See $1.1B In 'Deferred Software Revenue' In 2021, Munster Estimates
TSLA Elon Musk's SpaceX Seeks To Double Valuation At $92B In New Funding Round: Report
TSEM Tower Semiconductor and OPIX Announce the Successful Development of a World Class iToF Technology Platform for 3D Imaging and Face Recognition Applications
AAPL Apple Supplier's iPhone Factory Suffers $7M In Damages During Violent Worker Protests
EAF GrafTech Announces Upsizing and Pricing of Secondary Offering of Common Stock by Existing Stockholders
ATA.U Americas Technology Acquisition CORP. Announces Pricing of $100 M IPO
UBER Uber Fined $59M In California Over Refusal To Share Information On Sexual Assaults
BNR Burning Rock Announces an Exclusive in-Licensing of a Risk Stratification Test for Early Stage Lung-Cancer Patients from Oncocyte in China
BCDA ($4.48) BioCardia, Inc. Announces $8.5 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules [Revised]
UBER DASH LYFT GRUB Uber and DoorDash are hiking food delivery and rideshare prices for Californians to pay for new driver benefits
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