(Bloomberg) – Iraq has devalued its currency by nearly 20% against the dollar The government is facing an economic crisis caused by low crude oil prices and cuts in oil production.
The central bank set the official course to 1 on Saturday. Reduced 450 dinars per dollar, the first devaluation since 2003. That is from about 1. 190 previously. Dollars are priced at 1. 460 dinars each sold to local banks.
The devaluation of the world’s third largest oil exporter threatens to bring some goods beyond the means of ordinary Iraqis and cause unrest in a country that is heavily importing and still surging from deadly protests against the government last year.
Finance Minister Ali Allawi said a main reason for this move was to activate the private sector and local production while avoiding a severe budget deficit.
« What has been done is a preventive step, » Allawi said in a television interview on the Iraqi state channel. Without this step, inflation will rise and “we will hit the wall. ”
Iraq is taking steps to avoid depleting its foreign exchange reserves after the coronavirus weakened energy demand and prices fell. Without the devaluation, the reserves would have been depleted within six to seven months and the budget deficit could reach 100 trillion dinars ($ 84 billion) in 2021, Allawi said.
The International Monetary Fund estimates that the Iraqi economy will contract by 12% this year, more than any other OPEC member on a production quota, and that its budget deficit will reach 22% of gross domestic product. The government last month requested advance payments in exchange for a long-term crude oil supply contract to ease the financial situation.
“The devaluation was inevitable given the collapse in oil prices and budget pressures Iraq is facing. The government says this is a one time and will not be repeated, but we’ll see if it does. It is also important to watch the population’s reaction to the resulting rise in the cost of living and the government’s austerity program. ”
The economic crisis is causing additional pain for a nation that has been in chaos for most of the time since the United States. S.. . -led invasion of 2003 that overthrew Saddam Hussein, civil war, uprising of the Islamic state and a striving for independence by the Kurds in the north, an important oil-producing region.
All of the major oil producers have been hit by the coronavirus-induced collapse in crude oil prices. But Iraq, in which oil accounts for almost all government revenues, is worse off than most of the others.
Quotas agreed with other oil exporters to stabilize the market mean that there is a limit to the number of barrels Iraq can pump. Prime Minister Mustafa Al-Kadhimi, who came to power in May, has warned that as a result, the authorities will struggle to pay officials without incurring more debt. This threatens to repeat the upheaval that toppled the government last year and killed hundreds of protesters.
Protesters at a rally in Tahrir Square in late October denounced corrupt politicians, daily power outages, run-down hospitals, crumbling streets and job shortages, and urged the government to ignore OPEC’s production cuts.
U. . S.. . President Donald Trump has signed a bill calling for the removal of foreign companies that do not adhere to the same accounting transparency standards that securities regulators impose on public U.. S.. . Companies. Why It Matters: The Foreign Company Accountability Act is aimed at Chinese companies and has rarely been endorsed by either party in the US. S.. . Congress on Trump’s desk before arrival. The law states that delisting can happen if a particular company fails to comply with audit inspections for three consecutive years. The Chinese government does not allow the board to conduct audit inspections on US-listed Chinese companies. Audit inspections are carried out on other U. S.. . Public Company Accounting Oversight Board-listed companies founded after accounting scandals such as the one that blew Enron up in the early 2000s. Chinese companies in the U. . S.. . have been involved in financial scandals in the past – including Luckin Coffee Inc – ADR (OTC: LKNCY) this year, resulting in a delisting from Nasdaq. According to a government report in October, 16 Chinese companies have delisted since February 2019. Carson Block, who has made himself a short seller through his investigations into Chinese companies, called for the delisting of Chinese companies and told Bloomberg last month, « This is China and Chinese equity promotion, tampering scam machine that is laughing at the world face of the SEC. « What’s next? The markets are now waiting for news on certain delistings. The bill could affect 217 Chinese companies, including popular stocks like Alibaba Group Holding Ltd. – ADR (NYSE: BABA), JD. Com Inc (NASDAQ: JD), Nio Inc – ADR (NYSE: NIO), Xpeng Inc – ADR (NYSE: XPEV) and Li Auto Inc. . (NASDAQ: LI). Due to the three year compliance period in the law, delistings may not be imminent. The author of this article owns shares in Luckin Coffee and an inverse ETF that tracks the downward performance of Hong Kong-listed Chinese companies. Photo credit: Xpeng Motor Technology Ltd. . For More Information From Benzinga * Click here to see Benzinga’s option trades. * Klarna Could Follow Affirm Holdings in Delaying Fintech’s Expected Initial Public Offering * FTSE Russell To Remove 8 Chinese Companies From Some Indices In Response To US Blacklist (C). 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
Bank of America just announced its top stocks for next year among the 11 S&P 500 sectors. However, the bank could hope its picks do better than 2020.
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The stock market rally is healthy without the tech titans leading the way. Nike and JPMorgan will jump on Monday. Tesla joins the S&P 500.
The group offers good upside potential while also offering some downside protection should the stock market stall in 2021.
Traders waiting for a better moment to get into bank stocks may have got one. What happened: The U. . S.. . The Federal Reserve Board issued a statement after the markets closed on Friday clearing the way for major banks to resume share buybacks. The decision was part of the Fed’s stress test against banks amid the economic uncertainty of the pandemic. The board, which found the banks to have healthy capital reserves, passed the 33 companies tested while allowing them to resume the limited share buyback. Such purchases had been interrupted earlier in the pandemic. Why It Matters: While they haven’t done badly, bank stocks haven’t benefited as much from the 2020 bull market as other industries. The decision could change that in the New Year as share buybacks help stock prices by stimulating demand. According to Bloomberg, six largest U. . S.. . Banks could buy back shares worth up to $ 11 billion in the first quarter of next year. Trade Promotion: The Fed announcement was made on Friday at 4:30 am EST. The Financial Select Sector SPDR fund (NYSE: XLF), to which the major banks JPMorgan Chase & Co. . (NYSE: JPM), Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), Wells Fargo & Co. (NYSE: WFC), Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) closed 3% in after-hour trading from Friday’s close of $ 28. 49. Photo Credit: Joe Mabel, WikimediaSee More From Benzinga * Click Here For Benzinga Option Deals * Klarna Could Follow Affirm Holdings In Delaying Expected « Buy Now, Pay Later » Fintech IPO * Ouch. Airbnb Hosts Missed Email With Pre-IPO Offers: NPR (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
While the construction of the Gigafactory Berlin has developed rapidly, Tesla Inc (NASDAQ: TSLA) has had some setbacks, including the suspension of tree clearing due to legal proceedings against animal rights activists. According to a report from Electrek, Tesla missed a $ 100 million bond, which is causing things to be temporarily put on hold. Tesla has not received a general permit to build the Gigafactory Berlin, according to Electrek, and is working with partial permits to move the project forward faster. Click here to read the latest electric vehicle news at Benzinga’s EV Hub. The deposit is required in case the project is never completed. In that case, Tesla would be responsible for the demolition. The $ 100 million deposit covers this possibility, although it seems unlikely at this point. The payment was reportedly on Dec.. due. 17th. Photo courtesy of TeslaSee more of Benzinga * Click here for Benzinga option deals * Elon Musk hopes to visit China next month while Model Y production begins * Video shows Tesla Model Y being produced from China (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
Sometimes the best investment strategy is to follow a leader. And corporate insiders have long been popular leaders. Their combination of responsibility to their shareholders and access to information about their companies under cover gives an air of authority to their personal investment decisions. The most important thing about these insiders is that they are expected to turn their businesses into profit, whatever they do. Shareholders want a return on investment, boards of directors want accountability, and company officers adhere to both standards. So if they start buying up their own company’s stock, it is a sign that investors should do further research. To improve the playing field for information, government regulators have required insiders to publish their stock transactions regularly so that it is easy for investors to follow. Better yet, TipRanks consolidates the information on the Insiders’ Hot Stocks page, and provides tools and data filters that make it easy for you to search raw data. We picked three stocks with recent informative purchases to show how the data works for you. Del Taco Restaurants (TACO) We’re starting with the popular Del Taco, the California-based taco chain. Del Taco has a market cap of $ 344 million, over 600 restaurants, and a loyal fan base, making it a solid foundation in the fast food franchise market. Most of the company’s locations are west of the Mississippi, but the company has made its way into the eastern United States. Like many stationary, traffic-dependent companies, Del Taco had a rough year. The coronavirus crisis had dampened traffic, social and economic lockdown measures have reduced income flows. However, the company has started to recover. After strong net losses at the beginning of the year, EPS has returned to positive figures, and sales in the third quarter of 120 million. USD rose more than 15% sequentially. The share price, which fell by two thirds at the height of the economic crisis last winter, has recovered from losses. TACO is now trading at 17% for the year. Insiders are optimistic about the stock. The most recent purchase, which helps steer the sentiment pin in the positive realm, is from board member Eileen Aptman, who is 88. 952 shares bought and over 650. Spent $ 000. Wedbush analyst Nick Setyan reports on Del Taco and rates the stock as an outperform (i. e. To buy). His $ 13 shows the level of his confidence, indicating 40% growth. (To see Setyan’s track record, click here. ) Setyan wrote, “We believe that TACO’s current valuation is based on an overly pessimistic view of medium to long-term fundamentals in a post-COVID QSR environment Units and margins were hit. We estimate EPS growth to be 12% by 2022. We estimate that 1% of the incremental compensation is equal to $ 0. 04-0. 06 in incremental EPS and every 10 basis points of incremental margin equals $ 0. 01 in incremental EPS in our model. “Overall, there is little work to be done right now on the road leading Del Taco’s path, and only one other analyst is interfering on the stock. An additional hold rating means that TACO qualifies as a moderate purchase. Average target price is $ 11 and implies a potential increase of ~ 19%. (See TACO stock analysis on TipRanks. ) CuriosityStream (CURI) Next up is CuriosityStream, an online video streaming channel in the education segment. CuriosityStream specializes in factual video content and offers subscription services. The channel has over 13 million subscribers worldwide. Its founder, John Hendricks, first rose to fame in 1985 with the Discovery Channel, a cable television channel devoted to similar themes. New to the public markets, CuriosityStream was floated on the stock exchange earlier this year through a merger with Software Acquisition, a Special Purpose Acquisition Company (SPAC) that started out as a blank check company. It’s no surprise that insiders are making large purchases in new stocks, but the moves on CuriosityStream deserve attention. John Hendricks made three large purchases earlier this month and bought blocks of 15 in four days. 473 shares, 26. 000 shares and 11. 684 shares. Hendricks paid 473. $ 561 for the new shares. Covering the inventory for B. . Riley, analyst Zack Silver, wrote, “We see CURI as well positioned to capitalize on the burgeoning global streaming market and establish itself as a no-nonsense programmer for the post-pay TV age. CURI’s subscription video-on-demand (SVOD) service differs not only in the sheer amount of curated factual titles available on the platform, but also in its compelling price. We anticipate CURI’s strategy of monetizing its content across multiple revenue streams will enable a more efficient way to scale… “Silver rates the stock at a buy, and its price target of $ 16 implies an uptrend of 40% for a year. (To see Silver’s track record, click here. ) CURI has a consensus rating for analysts with a moderate buy based on 2 recent buy ratings. The average target price is $ 14, which suggests this stock can grow ~ 23% from its current trading price of $ 11. 50. (See CURI stock analysis on TipRanks) Allegheny Technologies (ATI) Last but not least, Allegheny Technologies, a metallurgy company based in Pittsburgh, Pennsylvania. Allegheny has two divisions: High-Performance Materials & Components, which specializes in titanium and nickel-based alloys, and Advanced Alloys & Solutions, which includes stainless steels and special steels, electrical steels, duplex alloys as well as zirconium, hafnium and niobium alloys. The company’s metal technology is used in the electrical, automotive, aerospace, and oil & gas production industries. Allegheny’s sales and shares have declined this year as the company was hit by the corona crisis. Disruptions in supply chains, sales networks and customer orders have had just as negative an impact as social and economic shutdown measures. Quarterly sales are up 37% from 955 million. USD 598 million in the first quarter. USD down in the third quarter. Shares are down 21% since the start of the year. All of this seems to make ATI a poor stock pick, but the company used the time to save wisely and realign its production models. Benchmark analyst Josh Sullivan pointed this out when he switched his stance from neutral to buy earlier this month. He wrote: “We are converting ATI to buy from hold after the company’s planned exit from stainless raw materials. This move changes ATI’s historical risk profile by removing the most volatile industry. Separating from ATI’s stainless steel legacy has been a long-awaited investor goal. Exiting ATI can also avoid maintenance work and possible overbuilding of the inventory during the recovery phase. Additionally, Sullivan notes that business in the aerospace industry is likely to recover soon, which is a boon to Allegheny: “With the 737-MAX back online, the upward pressure on Airbus A320 production and the availability of vaccines, the ATI core aerospace focus more closely correlate directly with an aero recovery. Sullivan’s buy rating includes a price target of $ 21, which implies room for 27% growth over the next 12 months. (To see Sullivan’s track record, click here. When we turn to insider trading, we find that the company’s CFO and SVP, Donald Newman, is on December 12th this month. 500 shares bought and over 210. Paid $ 000 for the block. Its total inventory is now 80. 042 shares valued at $ 1. 3 million. All in all, Allegheny receives a consensus rating for a moderate buy based on an even split between 4 ratings out of 2 buys and 2 holds. The shares are priced at $ 16. 32 and the $ 18. The average target price of 25 implies an upside potential of ~ 12%. (See ATI stock analysis on TipRanks. ) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.
Billionaire hedge fund investor Ray Dalio tweeted about the death of his 42-year-old son, who was killed in a car accident this week.
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Growing investor interest in eco-friendly energy games has brought FuelCell Energy (NASDAQ: FCEL) to a level it hasn’t seen in years. But even at the current level, FCEL stock is still a long way from the pre-split price of $ 25, which was last seen in 2018.
Source: Kaca Skokanova / shutterstock
Investors have very good reason to distrust management. Whenever the stock rallies sharply, the company is selling stocks. The latest fourth quarter results are also hardly inspiring.
FCEL share supply pressure
On Dec. . 2, FuelCell announced sales of 34. 518. 539 shares known for $ 6. 50. Although the stock rallied from there in the days that followed, positive sentiment for clean energy stocks helped keep the FuelCell issue looking attractive. The company said it would raise $ 128. 8 million from the sale of 19. 822. 219 shares. $ 95. 5 million or 14. 696. 320 shares from selling shareholders will not go to FuelCell. InvestorPlace – Stock Market News, Stock Advice & Trading Tips
The company will use the proceeds to repay the amounts owed under its loan agreement with Orion Energy Partners. Part of the funds will also be used to pay the capital redemption price for preference shares. One of its subsidiaries holds these shares.
Momentum fade a big risk
The clean energy boom on the stock market could end at any time. That would put an end to the buying momentum for companies like FuelCell. On Sept. . In 29, the company announced the pricing of 43. 5 million shares at $ 2. Collect $ 10.91. 35 million. The share sale followed a few weeks after the weak third quarter report.
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FuelCell had sales of $ 18. 7 million, down 17. 6% compared to the previous year. On a GAAP basis, it lost 7 cents per share. Assuming an Adjusted EBITDA of $ 5. 64 million the share should have fallen and stayed there. The main problems in the Bridgeport facility contribute to the losses. As indicated on the filing, « POSCO Energy filed a complaint with the Delaware State Chancellery (the » Court « ) allegedly enforcing its rights as a shareholder in the Company to inspect and make copies and extracts of certain books on the Company’s records. “If the case is lost, FuelCell has legal and billing costs that are a drag on cash on hand.
Speculators are betting that the change in political leadership will lead to a boom in the hydrogen economy. Pollution reduction regulations will result in increased support for companies offering zero-emission fuel solutions. FuelCell is in a good position to commercialize its three generation hydrogen technology platform. It has a new facility in the Port of Long Beach, California.
The project will provide electricity to Toyota facilities. In addition, hydrogen generation will power Toyota’s zero-emission fuel cell trucks and consumer vehicles. By helping automakers reduce their emissions, it will enable a world that is empowered by clean energy.
Conservative investors shouldn’t ignore the various warnings about investing in FuelCell. As indicated by Stock Rover, the short percentage of its stock float is 11. 8th%.
The warnings also make it clear that the company has been posting negative cash for nearly a decade. This suggests that as long as income doesn’t exceed expenses, FuelCell will keep coming back to the stock market to sell stocks. It will raise cash while diluting existing shareholders.
Analysts are just as cautious about FuelCell’s outlook, though only three analysts cover the stock. All of them rate the stock at $ 6 as a « hold ». 75 course target (according to Tipranks).
Nobody knows when the clean energy bubble will end. The industry is full of companies like FuelCell that promise zero-emission solutions. However, the costs keep increasing and the losses keep increasing.
The stock will reward swing traders who are nimble enough to get in and out of the stock before the market. Buy and hold investors should look elsewhere. Chances are, FuelCell is moving down and not bouncing back from recent stock price spikes.
Disclosure: At the time of publication, Chris Lau held positions (neither directly nor indirectly) in the securities identified in this article.
Chris Lau is a contributing writer for InvestorPlace. com and numerous other finance sites. Chris has over 20 years of investment experience and operates the Do-It-Yourself Value Investing Marketplace for Seeking Alpha. He shares his stock picks so that readers can get original insights that will help improve investment returns.
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On CNBC’s Mad Money Lightning Round, Jim Cramer said he believes in Charlie Scharf, the CEO of Wells Fargo & Co (NYSE: WFC). . (The Federal Reserve Board gave banks the go-ahead to resume share buybacks after the market closed on Friday. ) MasTec, Inc. . (NYSE: MTZ) is a winner, said Cramer. He likes infrastructure games. Caterpillar Inc. . (NYSE: CAT) could climb to $ 200, Cramer said. He likes the Deere & Company (NYSE: DE) more. Cramer likes Velodyne Lidar Inc (NASDAQ: VLDR) for this crowded space. Tupperware Brands Corporation (NYSE: TUP) is too difficult to own, said Cramer. If he had bought it at a lower price, he would be selling it now. Cramer would stick with Freeport-McMoRan Inc (NYSE: FCX) even though it has already doubled. See More From Benzinga * Click Here For Option Trades From Benzinga * ‘Fast Money’ Picks For Dec 21. December (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
The growing global appetite for 5G phones and other high-performance technologies will drive increased demand for semiconductors, according to Wells Fargo.
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Every week Benzinga conducts a sentiment poll to find out what traders are most excited about, interested in or thinking about in managing and building their personal portfolios. We surveyed a group of over 300 investors on whether General Electric (NYSE: GE) shares would hit $ 20 by 2022. GE Stock Forecast General Electric is known for its digital industrial offerings and massive installed base spread across a wide variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment. Following the sale of GE Transportation to Wabtec and much of its stake in Baker Hughes and the sale of GE Biopharma to Danaher, the company’s focus is on aviation, legacy healthcare, power and renewable energy. See Also: The Top 10 Blue Chip StocksGE are trading around $ 11 at the time of writing, after hitting the 52-week low of $ 5. 48 and about 73% of Benzinga dealers and investors said GE will hit $ 20 per share by 2022. Our study found that investors say GE Healthcare’s presence in the healthcare industry could prove valuable given the increased demand for radiopharmaceuticals and general medical imaging. Others believe GE will kickstart its core gas turbine and jet engine businesses after the pandemic ends. This survey was conducted by Benzinga in December 2020 and included responses from a diverse population of adults ages 18 and older. Participation in the survey was entirely voluntary, with no incentives to potential respondents. The study reflects results from over 300 adults. Photo Credit: Bubba73, via Wikimedia CommonsSee more from Benzinga * Click here for Benzinga option deals * Will GE or Boeing stock grow faster through 2025? (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
Plug Power (NASDAQ: PLUG) has one year. To be precise, Plug Power stock is up more than 430% in the past six months. After five years of watching the company’s stock profile, investors in the hydrogen fuel cell maker were rightly pleased.
Source: Halfpoint / ShutterStock. com
And if you’ve been on the sidelines during this preroll, you may be afraid of missing out. Before indulging in this fear, it is important to take an inventory (no pun intended) of both good and bad surrounding Plug Power stocks.
The race has started
I am not referring to the numerous companies trying to bring a novel coronavirus vaccine to market. This race also continues. InvestorPlace – Stock Market News, Stock Advice & Trading Tips
I am referring to the race for supremacy in renewable energy. Are you team batteries or fuel cells? I know it’s not necessarily a binary choice. But dynamism is growing on both sides.
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The electric vehicle (EV) bubble is expanding with improvements in battery technology. This is a critical contribution to enabling an EV future. Batteries are currently dominating the transport space for clean energy. And Tesla (NASDAQ: TSLA) poses a significant threat to fuel cell technology in general with its lithium-ion batteries.
Fuel cell technology is lagging behind in passenger cars. Nevertheless, fuel cell technology is finding its way into niche markets. One of the reasons for the recent surge in Plug Power stock was the expansion of its ongoing contract with Walmart (NYSE: WMT). . Walmart has used plug-power fuel cells in its forklifts for years and now may be expanding the applications for the technology.
I chose the analogy to a Covid-19 vaccine because, as with the vaccine, the debate between fuel cells and electric batteries will likely not be an “either or”, but rather a “both and” situation. However, the fact that fuel cells are entering the debate is optimistic for Plug Power.
However, participation in the debate will not be enough. Plug Power currently sees an addressable market of around 30 billion US dollars. But as Faizan Farooque recently wrote, $ 30 billion is a drop in the ocean compared to the broader EV market, which is projected to grow to over $ 800 billion by 2027.
In the company’s latest earnings report, net sales increased 89% year over year. And Matt McCall recently told InvestorPlace readers that analysts are optimistic about the company’s future earnings:
Analysts expect revenue this year to be around $ 324 million, up nearly 37% from 2019. In addition, analysts expect another strong year of growth of almost 36% to $ 440 million in 2021.
In the same article, McCall noted that the outlook for 2022 is in revenue of more than $ 567 million.
Profit remains elusive
There are several warnings about the Plug Power inventory. Perhaps the biggest caution about the stock at current levels, however, is the company’s lack of profitability.
Of course the needle goes in the right direction. The company expects a profitable EBITDA by the end of 2024.
As Mark Hake points out, EBITDA profit is not equal to net profit or cash flow. Still, it would be the beginning. And since Plug Power is forecasting greater revenues in the years to come, it could reach that goal sooner.
An inexpensive way to test the power plug
What goes up often goes down. And when the reality of renewable energy development collides with the expectation of renewable energy stocks, things may not end well. Even so, it is difficult not to take a position in hydrogen fuel cells. But it is not a sector that you can enter without your eyes open. There are currently no safe things.
I think for my money you can look into one of the many clean energy Exchange Traded Funds (ETFs) to get exposure to the sector without investing all of your chips with a handful of stocks. One ETF that offers significant exposure to Plug Power stocks is the iShares Global Clean Energy ETF (NASDAQ: ICLN). .
At the time of this writing, Chris Markoch held positions (neither directly nor indirectly) in the securities identified in this article.
Chris Markoch is a freelance finance copywriter who has covered the market for over six years. He has been writing for Investor Place since 2019.
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Every week Benzinga conducts a sentiment poll to find out what traders are most excited about, interested in or thinking about in managing and building their personal portfolios. We asked a group of over 300 Benzinga investors whether AT&T Inc. . (NYSE: T) or Verizon Communications Inc. . The stock (NYSE: VZ) would grow the fastest through 2022. AT&T Vs. Verizon Stock In 2020, wireless communications remains AT&T’s largest business, contributing nearly 40% to sales. As the second largest U. . S.. . AT&T, a mobile communications provider, connects more than 100 million devices, including 63 million regular customers and 16 million prepaid customers. The Consumer and Entertainment segment, the company’s second largest source of revenue, includes its fixed line consumer and DirecTV satellite television businesses, which serve 20 million television and 14 million Internet access customers. Verizon is now primarily a cellular company (70% of sales and almost all operating income). . The company serves around 89 million regular customers and 4 million prepaid customers. Verizon connects an additional 24 million data devices, such as tablets, across its nationwide network, making it the largest U. . S.. . Cellular provider. With AT&T and Verizon being the largest cellular operators in the country, they are expected to be the most profitable companies competing for the largest market share of 5G cellular technology in the years to come. Many respondents said they see Verizon leading the way in providing the most reliable 5G coverage in the short term, and also embraced the company’s current video streaming partnership with Walt Disney Co (NYSE: DIS) and the streaming music Partnership with Apple Inc. (NYSE: AAPL) as reasons Verizon will be even more appealing in 2021. 62% of respondents said Verizon will continue to grow over the next year, while 38% believe AT&T will see bigger gains by the end of 2022. This survey was conducted by Benzinga in December 2020 and included responses from a diverse population of adults ages 18 and older. Participation in the survey was entirely voluntary, with no incentives to potential respondents. The study reflects results from over 300 adults. Photo from Pixabay. See More From Benzinga * Click Here For Benzinga Option Deals * Will GE’s Stock Reach By 2022? * Will Xpeng or Li Auto Stock grow faster by 2022? (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
Bitcoin prices rose from their all-time highs above 23 on Friday. $ 000 withdrawn, but the Grayscale Bitcoin Trust (OTC: GBTC) traded 1 higher. 7% due to investor optimism that the huge Bitcoin rally will continue in 2020 to 2021. The former hedge fund manager Whitney Tilson predicted the bursting of the Bitcoin bubble in 2017, but this time Tilson sees the cryptocurrency differently. On Friday, Tilson said he doesn’t recommend shorting Bitcoin or any other cryptocurrency, even at all-time highs. Related Link: Will Bitcoin Rise 50% in 2021 and Possibly Double It? Those pros think SoBack in 2017, Tilson said, Bitcoin is showing signs of a classic market bubble. One of the biggest red flags at the time was the type of investors who asked questions about Bitcoin. Tilson noted that Bitcoin investors were among the « least knowledgeable investors imaginable » in 2017. « This time around, Tilson said there were a lot more mainstream investors and companies involved in the Bitcoin rally, which suggests gains for 2020 are more likely to continue. How to Play It: While 2021 may not burst another 2018-style bitcoin bubble, Tilson is still not recommending investors buy bitcoin. « I would never short-circuit a cryptocurrency – ironically, for the exact same reason I would never own one: there is no intrinsic value, » said Tilson. With no intrinsic value, Tilson said, the price of Bitcoin could literally be between $ 100 million and $ 1 million and anywhere in between. Tilson said it is never a good idea to shorten such an open situation, but there is nothing to support Bitcoin’s valuation on the downside either. « In summary, I think that you will live happier and more successful lives if you avoid cryptocurrencies altogether, » said Tilson. Gasoline Gas Take: Stocks, bonds, real estate, and even gold have a long, well-established track record in terms of investment performance, but Bitcoin and other cryptocurrencies have only been around for a little over a decade. The offering of a cryptocurrency is firm, it does not have the intrinsic value of an equity stake or property, and it does not have the yield of a bond or a certificate of deposit. Therefore, in the long term, the prices for cryptocurrencies are only determined by changes in long-term demand from investors and users. Latest Reviews for GBTC DateFirmActionFromTo Feb 2018BuckinghamInitiates Coverage OnSell Jul 2015WedbushInitiates Coverage onOutperform See more analyst reviews for GBTC See latest analyst reviewsSee more from Benzinga * Click here for Benzinga options deals * Will Bitcoin rise 50%, potentially doubling in 2021? These professionals think so * Bitcoin crosses K for the first time. Is this rally a repeat of 2017? (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
Iraq, Iraqi Dinar, Central Bank, Finance, Devaluation
World News – CA – Iraq devalues its currency by a record as the economy develops
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