Peter Thiel Fund Advises Companies to Exit Silicon Valley Bank (LiveMint)
Peter Thiel’s Founders Fund and several other high-profile venture capital firms advised their portfolio companies to pull money from Silicon Valley Bank on Thursday, responding to panic about the bank’s financial situation in tech startup circles. Founders Fund, a prominent VC firm co-founded by billionaire Thiel, has asked its companies to move their funds, according to one person familiar with the matter who asked not to be identified discussing private information.
These Hedge Fund Stars are Popping Champagne Corks (BreakingLatest.news)
The stock market year 2022 was a year to forget for most investors. Yet some hedge fund managers have taken home billions. Hedge funds are an industry that is shrouded in mystery because it lacks transparency. Many rumors surround the mostly publicly shy investment gurus. Some reverently call the star hedge fund managers “Masters of the Universe”, others derogatory “locusts”. For most investors, however, hedge funds are out of reach because they are aimed at institutional investors or wealthy individuals who can raise the often six- or even seven-figure minimum amounts for the initial investment.
Bed Bath & Beyond: Hudson Bay Financing, Recent Equity Offering Won’t Be Enough (Seeking Alpha)
Tough times often bring out the best and worst in people and companies. When the pandemic hit in 2020 and inflation reach historically high levels over the next couple years management teams were tested in unique ways. Some companies thrived in this difficult operating environment, while others struggled. One company that failed in every possible way during the pandemic and the subsequent rise in prices was Bed Bath & Beyond (NASDAQ:BBBY). This company now faces what likely will eventually be a chapter 7 bankruptcy and forced liquidation.
Friday 3/10 Insider Buying Report: UNIT, SMMT (Nasdaq.com)
On Thursday, Uniti Group’s CEO, Kenny Gunderman, made a $983,250 buy of UNIT, purchasing 225,000 shares at a cost of $4.37 a piece. Uniti Group is trading up about 0.9% on the day Friday. And at Summit Therapeutics, there was insider buying on Tuesday, by Chief Financial Officer Ankur Dhingra who purchased 196,362 shares at a cost of $1.05 each, for a total investment of $206,180. Before this latest buy, Dhingra made one other buy in the past year, purchasing $35,129 shares for a cost of $0.97 each. Summit Therapeutics is trading off about 3.2% on the day Friday. Dhingra was up about 35.7% on the buy at the high point of today’s trading session, with SMMT trading as high as $1.43 in trading on Friday.
Around $355M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett bought a total of 5,801,791 shares at an average price of $61.10. To acquire these shares, it cost around $354.51 million. Montrose Environmental Group: The Trade: Montrose Environmental Group, Inc. (MEG) Director James Price acquired a total of 27,636 shares an average price of $36.18. To acquire these shares, it cost around $1 million.
