China's largest online music streaming service, Tencent Music Entertainment Group (TME) is the IBD Stock Of The Day, providing an opportunity to learn important lessons about investing in IPO stocks. X A spin-off of China tech giant Tencent Holdings (TCEHY), Tencent Music began trading on Dec. 12. It priced 82 million American depositary receipts at $13, the low end of its estimated price range of $13 to $15 per share, raising $1.1 billion. The stock rose 8% on its first day of trading. But it sank quickly amid weakness in the broad market. It hit a record low of 11.81 four days after the IPO, on its way to building a first-stage IPO base. Tencent is now working on the right side of a cup-shaped base, with a buy point of 14.85. Tencent Music stock fell 2.8%, near 12.85, during afternoon trading on the stock market today. It's important to know that IPO stocks can be volatile, even those that launch a nice run from a first-time breakout. Trading IPO stocks requires following a … [Read more...] about IBD Stock Of The Day: Can This New Stock Break Out From An IPO Base?
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EDMONTON, Alberta, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce that its common shares commenced trading today on the OTCQX Best Market under the symbol “RDDTF”. Radient’s common shares will continue trading on the TSX Venture Exchange under the symbol “RTI”. Dorsey & Whitney LLP acted as the Company’s OTCQX Best Market sponsor and advisor. The OTCQX Best Market, a US trading platform operated by the OTC Markets Group in New York, is a market for established, investor-focused U.S. and international companies. Companies traded on the OTCQX Best Market are required to meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure and have been sponsored by a professional third-party advisor. The OTCQX Best Market includes real-time … [Read more...] about Radient Technologies Inc. Announces Commencement of Trading on the OTCQX, Best Market in the United States
Robinhood app is gearing to go public. The fintech startup shook up E-Trade (ETFC) and other online brokers with its free stock trading model, but faces challenges ahead as JPMorgan Chase (JPM) enters the free investing space. X CNBC quoted Robinhood CEO Baiju Bhatt saying Thursday at the TechCrunch Disrupt conference in San Francisco that his company is "thinking about" going public. He said that is likely to happen in the medium to long term, not soon. The online brokerage is on the hunt for a chief financial officer as it looks to an initial public offering (IPO). U.S. regulators are auditing Robinhood as part of the process. The Robinhood app for free stock and ETF trading launched three years ago. It now boasts 5 million brokerage accounts vs. 4 million in May, which itself marked a doubling in the past year. Robinhood outstripped E-Trade in number of users earlier this year, but not all of its accounts are funded. The average age of Robinhood app users is … [Read more...] about Robinhood App Eyes IPO As Free Trading Expansion Fuels Hot Growth, Valuation
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Today's Paper Advertisement Supported by ByNeal E. Boudette and Matt Phillips Aug. 7, 2018 Elon Musk has become one of the world’s most prominent chief executives, and a billionaire several times over, by boldly making big bets on ideas that few others thought possible. He started a private rocket company that sends materials into space, and plans to send astronauts soon. He is creating machines to bore giant tunnels through the earth. And Tesla Inc., where he serves as chief executive, has succeeded in creating an Apple-like brand of electric cars. Through it all, he has shown a maverick — some would say arrogant — management style. On Tuesday, he may have outdone himself. In a terse and cryptic Twitter post, he declared that he was ready to take Tesla private. The stock market that made his company worth over $60 … [Read more...] about Elon Musk Says Tesla May Go Private, and Its Stock Soars
The number of monthly users - a key indicator of Facebook's popularity - rose slightly, to 2.23 billion from 2.2 billion last quarter.Selling pressure accelerated when chief financial officer David Wehner warned in a call with analysts of a weaker outlook in the coming quarter.Instagram's business model is so far the most mature, and likely contributed meaningfully to the company's revenue in the quarter, analysts have said, though Facebook doesn't break out sales for the app.As part of its second quarter of 2018 earnings announcement on Wednesday, the company trumpeted a huge jump in both year-over-year revenue (42 percent) and profit (31 percent).What's more, daily active users have effectively been flat in the USA sequentially, and even declined in Europe when compared to Q1 - the first time the company has ever seen such a decline in recent quarters.Zuckerberg said Facebook lost around one million users in Europe amid the implementation of new EU data protection rules, but noted … [Read more...] about Facebook Stock Down 9% Following Q2 Revenue Miss, Slowing User Growth