Shares of technology giant Microsoft (NASDAQ:MSFT) jumped 5.1% in the afternoon session after the technology sector rallied, pushing the Nasdaq near all-time highs, as investors cheered a potential de-escalation of geopolitical tensions in the Middle East amid a flurry of positive news in the artificial intelligence space.
Shares of technology giant Microsoft (NASDAQ:MSFT) jumped 5.1% in the afternoon session after the technology sector rallied, pushing the Nasdaq near all-time highs, as investors cheered a potential de-escalation of geopolitical tensions in the Middle East amid a flurry of positive news in the artificial intelligence space.
Alistair Berg/DigitalVision via Getty Images WeShop Holdings Limited ( WSHP ) is a bit of a meme stock, and its gimmick, which has given it a bit of traction, is that as a loyalty programme, instead of giving some redeemable points for a future purchase or something to that effect, there are shares reserved that can be redeemed by users of the platform with their loyalty points. The cost of these ...
Alistair Berg/DigitalVision via Getty Images WeShop Holdings Limited ( WSHP ) is a bit of a meme stock, and its gimmick, which has given it a bit of traction, is that as a loyalty programme, instead of giving some redeemable points for a future purchase or something to that effect, there are shares reserved that can be redeemed by users of the platform with their loyalty points. The cost of these contingent shares goes into the COGS as they are granted for free to users. The rate of loyalty points granted for a transaction will depend on the retailer and the listing but is communicated very clearly in advance of purchase. The shares destined to users for the shareback have already been issued, and there isn't a dilution risk imminently associated with that. However, they have 102k GBP in cash as of June. They are not at all profitable (perhaps yet), and they did a direct listing to our understanding and therefore wouldn't have raised money since then. But the 6-month cash burn was almost 2 million GBP, so we expect to see some action to shore up funds very soon, particularly as the business is transitioning from its pilot to its more all-out commercial phase, including its US expansion, with the direct listing now concluded. This is also why we cannot usefully comment further on cash burn and runways; available data is also quite stale from the prospectus. The main thing is that the cash position is small relative to the last recorded cash burn figure. Cash flows (Prospectus) But beyond dilution from operations on top of the 35% or so from outstanding options and convertibles, we see considerable competitive challenges with other ecommerce platforms and search engines leveraging LLM and other LLM shopping tools. On valuation, ignoring for the moment dilutions that will come at the cost of today's shareholders, P/S is around 70x using the FY 2024 data, which is the last FY data available and represents a year when the pilot was underway. A combination of high valuati...
Goldman Sachs Group Inc.’s global head of alternatives for wealth expects private credit firms to keep drawing capital despite recent redemption episodes, due to the premium illiquid investments command. The Wall Street investment bank advises ultra‑high‑net‑worth clients and family offices in its wealth business to allocate about a quarter of a moderate‑risk portfolio to alternative investments, ...
Goldman Sachs Group Inc.’s global head of alternatives for wealth expects private credit firms to keep drawing capital despite recent redemption episodes, due to the premium illiquid investments command. The Wall Street investment bank advises ultra‑high‑net‑worth clients and family offices in its wealth business to allocate about a quarter of a moderate‑risk portfolio to alternative investments, an asset class that includes private credit, Kristin Olson said in a Bloomberg Television interview Thursday. “If you can bear the illiquid, which obviously the ultra-high-net-worth clients can, we do think there is real alpha to be generated in that private markets part of your portfolio,” Olson said. “So we liked that risk-adjusted return, if you can weather the illiquidity.” Her remarks come amid a wave of redemption requests from at least a dozen funds, with the likes of Apollo Global Management Inc. and Ares Management Corp. limiting withdrawals, as concerns grow over exposure to software companies threatened by artificial intelligence. Private credit firms have spent years courting retail investors, and some are still launching new funds in the current environment. Read: Trapped in Private Credit, Investors Wait to Pull Out $5 Billion Current private credit conditions represent an “education moment” that will benefit investors over time, she said. “You’re going to continue to see the asset class grow,” she added. “What you had was a bit of misinformation that sort of led to some concerns and then people started testing that redemption window.” Goldman Sachs is pushing to grow its asset and wealth management unit, which oversees $3.6 trillion of assets and includes its private equity and private credit groups, as well as public investing.
Victor Golmer Elon Musk’s lieutenants have reportedly reached out to chip industry suppliers including Applied Materials ( AMAT ), Tokyo Electron Ltd. and Lam Research Corp. ( LRCX ) for his envisioned Terafab , early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla ( TSLA ) and SpaceX ( SPACE ) h...
Victor Golmer Elon Musk’s lieutenants have reportedly reached out to chip industry suppliers including Applied Materials ( AMAT ), Tokyo Electron Ltd. and Lam Research Corp. ( LRCX ) for his envisioned Terafab , early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla ( TSLA ) and SpaceX ( SPACE ) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers, and other tools, according to the people. The goal is to begin silicon manufacturing by 2029 and then scale up, Bloomberg added. Musk's representatives have asked for speedy price estimates while providing minimal information about the products, and Musk wants to move at "light speed," according to the report. Musk launched Terafab in March, and Intel ( INTC ) last week joined the Terafab project alongside the billionaire's companies SpaceX ( SPACE ), xAI ( X.AI ), and Tesla ( TSLA ) to "help refactor silicon fab technology." More on Tesla, Applied Materials Tesla's Deliveries Reinforce How It Has Further To Decline Tesla: Don't Worry About Inventory (Rating Upgrade) Tesla: Brutal Sell-Off Opens A Dip-Buying Window Tesla jumps 8%, putting it on track for its best day in nine months China weighs curbs on exports of solar manufacturing equipment to U.S. - Reuters
BlackRock Inc. said South Korean equities are a key driver behind its latest upgrade of emerging-market stocks, citing sharp earnings growth and leverage to global semiconductor demand. The world’s largest asset manager turned overweight on US and emerging-market shares this week, saying both cohorts offer earnings upside. Corporate profit expectations have been climbing in 2026 despite the Iran w...
BlackRock Inc. said South Korean equities are a key driver behind its latest upgrade of emerging-market stocks, citing sharp earnings growth and leverage to global semiconductor demand. The world’s largest asset manager turned overweight on US and emerging-market shares this week, saying both cohorts offer earnings upside. Corporate profit expectations have been climbing in 2026 despite the Iran war, partly buoyed by artificial intelligence themes. “Korea is a big reason for our emerging market upgrade,” said Wei Li , global chief investment strategist at the firm. “Specifically, Korea being part of the tech supply chain ecosystem is showing incredible momentum,” she said, pointing to strong appetite for AI-related hardware. “We definitely like it.” The projected forward earnings growth for the benchmark Kospi stood at 43% in the beginning of the year, and has now jumped to around 170%, according to Bloomberg-compiled data. Despite experiencing huge volatility in the wake of Middle East tensions, the gauge is on the cusp of erasing the loss and has topped most global peers in 2026 with a 47% surge. Although a handful of large-cap chipmakers may create concentration risks, Li remains upbeat on South Korea’s stock market. “People look at concentration as a problem, but actually, at times of technological transformation, it’s really a feature of this environment,” she said. “We’re not particularly concerned by the fact that it’s concentrated at this point.”