24 April Watchlist ๐Ÿ‘€

ย 

Today we are watching…

1. Snapย (#snap)

Snap, owner of Snapchat if you hadnโ€™t guessed, just hurt its stock by issuing convertible bonds. Convertible bonds are loans that give the lender an embedded option to turn interest payments into shares or convert the entire bondโ€™s par value into its equivalent value in shares. The announcement of some $750 million in convertible bonds threatens to dilute the value of shares already outstanding, which is why theyโ€™ve fallen 5% at the open. The companyโ€™s done these convertible offerings before to raise money, and itโ€™ll do them again. The money will be used โ€œstrategically,โ€ CEO Even Spiegel says.ย ย 

2. Gilead Sciences (#gildsci)

The markets were roaring for Gilead Sciences as its remdesivir vaccine solution was carted off to laboratories for testing this week, but the biotech industry is incredibly unforgiving. Itโ€™s nigh-impossible to predict the outcome of a medical trial, and sadly this one doesnโ€™t seem to have gone to plan. Remdesivir โ€œdid not improve Covid-19 patientsโ€™ condition or reduce the virus presence in the bloodstream,โ€ according to a leaked report, and with that, goodbye stock gains. Gilead is refuting the draft report. It says the dismissal isnโ€™t fair, inconclusive, and badly worded. The drug is still in play, but the investors behind it are out.

Share:
More Posts
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visaยฎ Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.