Why Pershing Square Tontine Could Be Put In the Penalty Box (Investor Place)
SPAC hysteria has died down of late, to say the least. Investors in Pershing Square Tontine Holdings (NYSE:PSTH) stock appears to be bellwethers of this environment. Indeed, PSTH is one high-profile SPAC which has been in the spotlight of late. Put forward by acclaimed billionaire hedge fund manager Bill Ackman, this SPAC is one of the largest ever. The SPAC’s $4 billion IPO actually had to be capped. Ackman had found investors with $12 billion in their tuxedo pants ready to put into his fund. A couple days of marketing via a road show was all it took to have a 3x-oversubscribed SPAC.
Hedge Fund Fights to Halt $506M Claim in New York Federal Court (EUReporter)
A hedge fund has cited an underlying arbitration agreement as the basis for removing to federal court a lawsuit against it by Kazakhstan. The lawsuit accusing it of conspiring with Moldovan oil and gas investors to secure an allegedly fraudulent half-billion dollar arbitral award against the country, Argentem Creek Partners and its founder and CEO, Daniel Chapman, told the New York federal court on Monday that the dispute relates to an arbitration clause contained in a “sharing agreement” with Moldovan investors Anatolie Stati and his son Gabriel Stati.
Insider Trading: April 26, 2021 (BIV.com)
Insider Barbara Hislop, director. Company: Canfor Corp. (TSX:CFP). Shares owned: 784,061. Trade date: April 8, 9. Trade total: $4,900,808. Trade: Sale of 161,000 shares at prices from $29.82 to $30.71 per share. Insider George Leslie Brack, other. Company: Capstone Mining Corp. (TSX:CS). Shares owned: 1,200,000. Trade date: April 8, 9. Trade total: $2,930,481. Trade: Sale of 678,900 shares at prices from $4.29 to $4.38 per share.
Monday 4/26 Insider Buying Report: NPCE, ODC (Nasdaq.com)
On Wednesday, Neuropace’s Director, Frank M. Fischer, made a $850,000 buy of NPCE, purchasing 50,000 shares at a cost of $17.00 each. Fischer was up about 55.9% on the purchase at the high point of today’s trading session, with NPCE trading as high as $26.50 in trading on Monday. Neuropace is trading up about 3% on the day Monday. And at Oil-Dri Corp. of America, there was insider buying on Wednesday, by Director Allan H. Selig who purchased 1,000 shares at a cost of $35.16 each, for a trade totaling $35,160. Before this latest buy, Selig purchased ODC on 3 other occasions during the past twelve months, for a total cost of $104,449 at an average of $34.82 per share. Oil-Dri Corp. of America is trading up about 0.1% on the day Monday. Bargain hunters have the opportunity to pick up ODC at a price even lower than Selig did, with shares changing hands as low as $34.51 in trading on Monday which is 1.8% below Selig’s purchase price.
U.S. Bancorp (USB) Chairman, President and CEO Andrew Cecere Sold $10.4 million of Shares (Guru Focus)
Chairman, President and CEO of U.S. Bancorp, Andrew Cecere, sold 184,187 shares of USB on 04/22/2021 at an average price of $56.48 a share. The total sale was $10.4 million.
The Chief Executive & Co-Founder of Columbia Care (Other OTC: CCHWF) is Selling Shares (Analyst Ratings)
Today, the Chief Executive & Co-Founder of Columbia Care (CCHWF), Nicholas Keane Vita, sold shares of CCHWF for $78.81K. In addition to Nicholas Keane Vita, one other CCHWF executive reported Sell trades in the last month. Based on Columbia Care’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $76.06 million and GAAP net loss of -$55,677,000. In comparison, last year the company earned revenue of $23.17 million and had a GAAP net loss of $25.82 million. The company has a one-year high of $7.89 and a one-year low of $1.50. Currently, Columbia Care has an average volume of 135.72K.
