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
We are recommending investors sell their position in offshore driller Sable Offshore (NYSE: SOC), which we recommended in December 2024 as part of the “Trump’s Secret Stocks” basket in The Big Secret On Wall Street portfolio.
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
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
We recommend investors sell their position in the Saba Capital Income & Opportunities Fund (NYSE: BRW), to realize a gain of 29% since we first reported on it in 2023.
In the May 9 Distressed Investing report “Cracking The Code,” we recommended purchasing Green Plains’ 2.25% bonds maturing March 15, 2027. We now recommend selling those bonds. In May, when we recommended them, the bonds were trading at $785, which equated to an annual return of just over 16%. We suggested pairing each bond with
Yesterday, aTyr Pharma (Nasdaq: ATYR) reported that its Phase 3 trial of efzofitimod in pulmonary sarcoidosis failed to meet its primary endpoint. The study’s results were doomed by a much higher-than-expected placebo effect, making it impossible for efzofitimod to attain the statistically significant differentiation relative to placebo needed for the trial’s success. Shares of aTyr
Yesterday, August 27, Green Plains (Nasdaq: GPRE) announced that it had agreed to sell its 120 million gallon per year ethanol plant in Obion, Tennessee, for $190 million. This equates to an impressive valuation of $1.58 per gallon of capacity. Shares of GPRE rose 12% to $11.18 per share following the news. We recommend selling half
On February 13, we issued our Distressed Investing report A New Burst Of Life, in which we recommended purchasing Herbalife’s 4.25% convertible bonds due June 15, 2028. Today, we are recommending selling the bonds, to realize a return of 35% from our entry price. Our thesis for recommending the bonds less than five months ago
Over the last several years, the U.S. jobs market has gradually transitioned from red hot to lukewarm. But in the last several months, the labor market has gone from lukewarm to ice cold. In this issue, we look at five companies that we feel will be resilient to any economic downturn that might result from this.