Tesla Taunts Short-Sellers by Selling ‘Short Shorts’ (Fox Business)
Tesla Inc. CEO Elon Musk took a swipe at short-sellers by listing “short shorts” on the company’s website. Musk has from time to time expressed dismay with investors who bet against his company. In 2018, he sent a box of short shorts to hedge fund manager David Einhorn and last November offered to send him more. The red satin shorts with gold trim, available for $69.42, feature a Tesla logo on the front left side and have “S3XY” written across the back. The 420 is a possible reference to the share price at which Musk said he had secured funding to take the company private, leading to a lawsuit from the U.S. Securities and Exchange Commission.
Thriving on COVID-19 Challenges (Hedge Nordic)
Stockholm (HedgeNordic) – Digitalization has certainly mitigated the impact of COVID-19 on businesses, economies and personal lives. After all, digitalization offers the vital infrastructure for many of us to continue working from home and see our families, friends and colleagues even during lockdown. To a certain extent, we can count ourselves lucky that COVID-19 has struck us in a digitalized world. “COVID-19 has acted as a catalyst for digitalization, both in people’s daily lives and at work,” says Pasi Havia, the fund manager of highly concentrated long-only hedge fund HCP Focus. To see the long-term picture through the short-term fog of uncertainty stemming from COVID-19 is difficult. But one thing is certain. “We will not return to the world before COVID-19,” reckons Havia. “A lockdown is not the same as pressing a pause button and later pressing play again,” he adds. “Some things change for good.”
Monday 7/6 Insider Buying Report: NOVA, FLXS (Nasdaq.com)
At Sunnova Energy International, a filing with the SEC revealed that on Monday, Robert Lawrence Lane purchased 3,000 shares of NOVA, for a cost of $16.50 each, for a total investment of $49,500. So far Lane is in the green, up about 16.8% on their buy based on today’s trading high of $19.27. Sunnova Energy International is trading up about 7.9% on the day Monday. Before this latest buy, Lane purchased NOVA at 2 other times during the past year, for a total cost of $160,000 at an average of $10.67 per share. And at Flexsteel Industries, there was insider buying on Wednesday, by CEO Jerald K. Dittmer who purchased 1,000 shares for a cost of $12.72 each, for a total investment of $12,720. Before this latest buy, Dittmer purchased FLXS on 8 other occasions during the past twelve months, for a total cost of $291,319 at an average of $14.94 per share. Flexsteel Industries is trading up about 5.6% on the day Monday. So far Dittmer is in the green, up about 7.9% on their purchase based on today’s trading high of $13.73.
Insider Trading: July 6, 2020 (BIV.com)
Insider James A. Pattison, 10% owner. Company: Terminals Investment Corp. (TSX:WTE). Shares owned: 3,122,433. Trade date: June 26. Trade total: $2,181,816. Trade: Acquisition of 133,200 shares at a price of $16.38 per share.. Insider James Anderson, director. Company: Orestone Mining Corp. (TSX:ORS). Shares owned: 100,000. Trade date: June 30. Trade total: $18,000. Trade: Sale of 100,000 shares at a price of $0.18 per share.
Marvell Technology Group (MRVL) EVP, CALO Mitchell Gaynor Sold $562,326 of Shares (Guru Focus)
EVP, CALO of Marvell Technology Group, Mitchell Gaynor, sold 16,007 shares of MRVL on 07/02/2020 at an average price of $35.13 a share. The total sale was $562,326. Marvell Technology Group Ltd and its subsidiaries is a fabless semiconductor provider of application-specific standard products. The company’s product portfolio includes devices for storage, networking and connectivity.
SEBI Orders To Disgorge Rs 2.3 Crore In Insider Trading Case (Bloomberg Quint)
Markets regulator SEBI on Monday asked Fourth Dimension Solutions Managing Director Amalendu Mukherjee to disgorge an amount worth over Rs 2.3 crore for insider trading in the scrip of Ricoh India Ltd. The amount has to be paid along with 12% interest within 45 days, the regulator said in its final order. In addition, Mukherjee has been restrained from accessing securities markets for a period of seven years, SEBI said in its order.
Notable Insider Buys: Novartis, T-Mobile And More (Benzinga)
Insiders continued to add shares despite overall market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week. Continental Resources: Continental Resources, Inc. (CLR) saw its founder and executive chair Harold Hamm return and purchase more than 3.13 million additional shares. At per-share prices between $15.18 and $17.92, that totaled more than $52.37 million. His stake is up to 9.61 million shares. The total float is about 74.5 million shares. T-Mobile: Softbank Executive Chair Ron Fisher, a recently resigned T-Mobile Us Inc (TMUS) director, also stepped up to the buy window last week. He indirectly picked up 350,000 shares of this wireless services provider for $103 each. That cost him $36.05 million.
