When Ecstasy Turns To Agony

In looking at the distressed-bond market today, Marty Fridson suggests: Fasten your seatbelts. It’s going to get very bumpy. But investors who remain rational will profit extravagantly from the foreseeable disconnect between value and price in the lower-quality end of the corporate bond market.

Sell Alert: Cerence AI’s 1.5% Convertible Bond

In the Distressed Investing April 10 report, “Car Talk,” we recommended buying Cerence AI’s 1.5% convertible bond maturing July 1, 2028. Today, we recommend selling the bond. At the time of the recommendation, the bond was priced at $692, which equated to annual yield of 13.6%. We indicated that we thought it extremely unlikely that

Sell Alert: Shares of Green Plains

In the May 8 Distressed Investing report, “Cracking the Code,” we recommended the combined $1,000 purchase of one Green Plains 2.25% convertible bond, then trading at $774, and shares of Green Plain stock (Nasdaq: GPRE), then trading at $3.66. At the time this equated to one bond and 61.7 shares. Recently we recommended selling the

Venture Global Shares Drop 20% On Legal Setback

Shares of liquefied natural gas (“LNG”) exporter Venture Global (NYSE: VG), which we recommended in The Big Secret On Wall Street, fell 20% today on an adverse ruling in its arbitration case against oil giant BP.  The case deals with LNG supply contracts between the two companies during 2022, when LNG prices shot up following

Sell Alert: Half Position Of Prime Medicine

Shares of the Tech Frontiers July recommendation, Prime Medicine (Nasdaq: PRME), are trading at around $6.37 today, a gain of over 100% from our entry price of $3.07 three months ago. As a result, we recommend selling half your position. Prime is making terrific progress advancing its gene-editing platform and we have many reasons for