Cathie Wood sold COIN on 7/26. It's up 81% since. Jesus, she is just burning money. Apparently there's been an announced partnership with BlackRock or something.
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She sold it? That's hilarious. Here I was being impressed that she'd made a good call and might be getting back on track.
I have to believe there's a massive group of investors going against everything she does just to spite her.
Did it pop because she sold. Someone in here was teasing they were going to do the opposite of her to make money. I wonder if others thought that, too?xc_hide_links_from_guests_guests_error_hide_media
Apparently she still has 5 million shares and has a 3% position now. But selling 1.4 million shares literally right before it pops has got to hurt.
Folster, did you sort out everything that's supposed to happen with MMM at the end of the month? We get an opportunity to buy (or exchange into?) shares of some other thing at a discount, but then, if not all of the new holding sells, MMM owners who sat tight will get their slice of what's left over. I read it only once, didn't understand it, and planned to come back to it, but now I can't find it.
Yeah, here it is, for (my) future reference:Is this the Spinco and Neogen spin-off/merger? I didn't see a corporate action for it. I'll have to take a closer look, but I don't plan to exchange shares of MMM for the spin-off that is being acquired by Neogen.
Yeah, here it is, for (my) future reference:
3M Company ("3M") (NYSE: MMM) announced today the commencement of an exchange offer to effect the separation of its food safety business (the "Food Safety Business"), in furtherance of the...www.streetinsider.com
So, if I understand correctly:
* On the final days of August, MMM shareholders will have the option of exchanging their MMM for SpinCo, which is destined to become (get absorbed by) Neogen. MMM shareholders will get a 7% discount on any SpinCo/Neogen shares they acquire through this transaction, the discount being figured with respect to Neogen's market-weighted average price over the three trading days 25, 26, and 29 August.
* 108.3M shares of SpinCo/Neogen will be available, which works out to $2.33B worth. Since MMM's market cap is $83.6B, only a small percentage of MMM shares can be exchanged. In the event that the exchange order is oversubscribed, everyone's allowable exchange will be prorated.
* If the exchange is undersubscribed, the remaining shares of SpinCo/Neogen will be distributed pro rata to all MMM shareholders. If no one accepts the exchange offer, leaving all of the SpinCo/Neogen up for grabs, then each $100 of MMM will be entitled to $2.79 of SpinCo/Neogen.
Neogen is down 52.8% YTD, so if you think it can bounce back, this could be a useful opportunity to get in at an even steeper discount than the market price. If you could freeze the prices, you'd hop over quickly to NEOG, cash out at face value, and then move back into MMM. But I'm probably not the only one who has thought of that, so I expect the prices of NEOG (and maybe also MMM) to go haywire right around the time of the merger.
It's crazy too considering their products have been the best scaling items for the last couple years. The market was bonkers for awhile. It's most likely tied to the crypto crash and China cracking down on the mining operations there.Saw that. They felt the need to come out weeks ahead of earnings to brace investors for a miss. That's not good.
It's crazy too considering their products have been the best scaling items for the last couple years. The market was bonkers for awhile. It's most likely tied to the crypto crash and China cracking down on the mining operations there.
I saw them also blame a slow gaming quarter. Their CEO is legit and their grip on the industries speaks for itself so I'm still confident regardlessIt's crazy too considering their products have been the best scaling items for the last couple years. The market was bonkers for awhile. It's most likely tied to the crypto crash and China cracking down on the mining operations there.