There is ‘More Pain’ for Bitcoin Ahead, Says Billionaire Ex-Hedge Fund Manager (Finbold.com)
Mike Novogratz, a well-known American investor and the current CEO of Galaxy Investment Partners, has predicted that cryptocurrencies will continue to be associated with the Nasdaq in the meantime. In an interview with CNBC’s Squawk Box, Novogratz expressed his thoughts on the present situation of the cryptocurrency sector, which is now experiencing a bearish sentiment in the market. When asked what he thinks would happen to Bitcoin in the future, the investor said that cryptocurrency would continue to be associated with the Nasdaq stock market index.
Chelsea FC Deal is Rare Window on US Hedge Fund Movers and Shakers (Proactive Investors)
Clearlake Capital’s Chelsea consortium, which is spearheaded by American tycoon Todd Boehly, is expected shortly to complete the biggest sporting takeover in history. Chelsea announced in the early hours of Saturday morning it would be submitting the £4.25bn proposed deal to the UK government and Premier League for approval, with reports claiming the deal could be finalised before the month-end.
Loeb’s Third Point Net Equity Exposure Lowest in a Decade, Adding to Oil and Gas Names (Investing.com)
In his first quarter letter to investors, Dan Loeb said his Third Point LLC flagship Offshore Fund fell 11.5% during the quarter and the fund adopted a significantly more defensive posture. However, in April, the fund performed strongly versus the market, falling just 1% versus drops of 8% and 13% for the S&P 500 and Nasdaq, respectively. Loeb is adding to Oil and Gas stocks and initiating short positions. Loeb said the firm’s net exposure is lower and buying power higher than at any time during the last ten years. Their beta-adjusted net equity exposure is down to 41% at the end of Q1 from 75% at the start of the year.
Insider Trading: May 9, 2022 (BIV)
Insider Justin Blanchet, officer. Company: K92 mining Inc. (TSX:KNT). Shares owned: 100,000. Trade date: Apr 22. Trade total: $785,600. Trade: Sale of 80,000 shares at a price of $9.82 per share. Insider Harry Sloan, director. Company: Lions Gate Entertainment Corp. (NYSE:LGF). Shares owned: 150,488. Trade date: Apr 22. Trade total: US$636,000. Trade: Sale of 50,000 shares at a price of US$12.72 per share.
Monday 5/9 Insider Buying Report: TFC, SAGE (Nasdaq.com)
At Truist Financial, a filing with the SEC revealed that on Wednesday, Steven C. Voorhees bought 20,000 shares of TFC, at a cost of $49.82 each, for a total investment of $996,320. Investors are able to bag TFC at a price even lower than Voorhees did, with shares changing hands as low as $48.23 in trading on Monday which is 3.2% below Voorhees’s purchase price. Truist Financial is trading down about 0.8% on the day Monday. Before this latest buy, Voorhees made one other purchase in the past year, buying $592,080 shares for a cost of $59.21 a piece. And at Sage Therapeutics, there was insider buying on Thursday, by George Golumbeski who purchased 8,000 shares at a cost of $31.45 each, for a trade totaling $251,563. This buy marks the first one filed by Golumbeski in the past year.
Insider Weekends: “Adjusted” Insider Buying Increased Last Week With Insiders Purchasing $176.54 Million Of Stock (Benzinga)
Notable Insider Buys: 1. B. Riley Financial, Inc. (RILY) $51.02: Shares of B. Riley Financial were acquired by 6 insiders: Chairman and Co-CEO Bryant R. Riley acquired 241,343 shares, paying $47.23 per share for a total amount of $11.39 million. Mr. Riley increased his stake by 4.42% to 5,698,313 shares with this purchase. 2. General Electric Company (GE) $78.23: Shares of General Electric were acquired by 3 insiders: Chairman and CEO Lawrence H. Culp Jr. acquired 65,000 shares, paying $74.53 per share for a total amount of $4.84 million. These shares were purchased indirectly by a holding company.
