GameStop Corp. ( GME ) announced on Tuesday that its digital trading card platform is launching to the public on April 15. The retailer described Power Packs as an online experience where collectors can purchase digital packs to unlock real, PSA-graded trading cards. Every card is securely stored in the PSA Vault and can be sold back instantly, shipped home, or added to a customer’s collection. Po...
GameStop Corp. ( GME ) announced on Tuesday that its digital trading card platform is launching to the public on April 15. The retailer described Power Packs as an online experience where collectors can purchase digital packs to unlock real, PSA-graded trading cards. Every card is securely stored in the PSA Vault and can be sold back instantly, shipped home, or added to a customer’s collection. Pokémon, football, basketball, and baseball categories are available at launch, with packs starting at $25 and ranging up to $2,500. The way it works is that a Power Packs customer pays for a pack, opens it digitally, and receives a PSA-graded trading card tied to that pack. The physical card stays stored in PSA Vault, and the customer can later ship it to itself, instantly sell it back to GameStop ( GME ), or potentially sell it through PSA’s eBay integration. For investors, Power Packs is GameStop's ( GME ) attempt to turn card collecting into a more platform-like experience. It is unclear if the business will align directly with GameStop's ( GME ) M&A ambitions. Shares of GameStop ( GME ) were up 1.3% in Tuesday morning trading to $23.70 vs. the 52-week range of $19.93 to $35.81. Short interest on GME stands at 14.0% of the total float. More on GameStop GameStop Is Fairly Valued And It's Now Focused On M&A GameStop Holiday Quarter Earnings Preview Signals Muted Numbers GameStop Is Still In Limbo Michael Burry buys JD, Alibaba shares; adds to Nvidia puts Best Buy jumps amid speculation it could be target for GameStop
Victor Golmer/iStock Editorial via Getty Images Euphoria Turning Into Fear After researching CoStar ( CSGP ) and Copart ( CPRT ) so far this month, I am now turning my attention to the Danish pharmaceutical giant Novo Nordisk ( NVO ), another stock in which market sentiment changed quite dramatically over the last few quarters. As illustrated in the chart below, Novo Nordisk reached an all-time hi...
Victor Golmer/iStock Editorial via Getty Images Euphoria Turning Into Fear After researching CoStar ( CSGP ) and Copart ( CPRT ) so far this month, I am now turning my attention to the Danish pharmaceutical giant Novo Nordisk ( NVO ), another stock in which market sentiment changed quite dramatically over the last few quarters. As illustrated in the chart below, Novo Nordisk reached an all-time high of $148.15 in June 2024, a time when market participants were widely optimistic about the prospects of NVO's new semaglutide drugs for weight management, Wegovy. After a long series of disappointments and missteps, Novo Nordisk closed at $37.98 per share as of April 13th, which is equivalent to a ~75% drawdown in less than 24 months. Novo Nordisk Historical Share Price (Questrade, David Desjardins) This is one of the largest drawdowns among the companies I have recently written about, and it becomes even more stunning when the company's market capitalization of $167.7 billion is taken into account. We are talking about one of the world's largest pharmaceutical companies here, not a penny stock. Novo Nordisk provides another tangible example of the danger of overpaying for a market favourite, as everything can change in just a few quarters. Valuation premiums can rapidly turn into discounts and euphoria into fear. I guess this is the cyclical nature of things on financial markets. Company Overview For the full year of 2025, Novo Nordisk reported net sales of DKK 309.1 billion, representing a +6% growth rate in local currency versus the total revenues of DKK 290.4 billion reported in the prior year. After adjusting for the impact of foreign currencies, top-line growth came in at +10% in calendar 2025, which is a sharp deceleration versus the +36% and +26% growth rates recorded in 2023 and 2024, respectively. Sales By Therapeutic Area (2025 Annual Report) Looking forward to 2026, Novo Nordisk expects revenues to decline between -5% and -13% on a constant currency basis, hig...
Olena Bartienieva/iStock via Getty Images Geopolitical risk, market resilience, and impact on commercial real estate Tensions in the Middle East remain top of mind for many investors, particularly given the potential implications for energy markets, global trade, and financial conditions. The recent escalation involving the United States, Israel, and Iran has heightened geopolitical uncertainty, r...
Olena Bartienieva/iStock via Getty Images Geopolitical risk, market resilience, and impact on commercial real estate Tensions in the Middle East remain top of mind for many investors, particularly given the potential implications for energy markets, global trade, and financial conditions. The recent escalation involving the United States, Israel, and Iran has heightened geopolitical uncertainty, raising questions about possible spillover effects on the broader economy and risk assets, including commercial real estate. That said, it remains early, and to date the impact on financial markets has been relatively contained, characterized more by volatility and limited repricing than by a deterioration in underlying economic fundamentals. Near-term market dynamics have been driven primarily by concerns around energy prices, especially the risk of disruption to oil shipments through the Strait of Hormuz. A meaningful interruption to traffic through this critical route could result in higher oil prices for longer, with broader implications for inflation, global trade flows, and growth-sensitive assets. At present, however, the main transmission channel of geopolitical risk appears centered on commodity pricing rather than widespread supply chain or trade disruptions. The ultimate economic impact will depend on the duration, intensity, and scope of geopolitical disruptions, particularly as they relate to energy markets, global trade, and interest rates. One area we are monitoring closely is the potential for heightened geopolitical risk to feed into higher long-term interest rates via increased term or risk premia. While this remains a risk scenario rather than a base case, a sustained rise in long-term rates could tighten financial conditions and weigh more broadly on asset valuations. Against this backdrop, the overall assessment is that commercial real estate remains on a stable footing, and notably, our 2026 outlook has not materially changed. Publicly listed real estat...
With Private Credit We See The Credit Cycle Hasn't Been Repealed Authored by Jay Rogers via RealClearMarkets.com, Something cracked in private credit this month, and the men who manage systemic risk for a living are saying so. Goldman Sachs CEO David Solomon's just-released 2025 annual shareholder letter warns that concerns about private credit - including "underwriting quality or exposure to soft...
With Private Credit We See The Credit Cycle Hasn't Been Repealed Authored by Jay Rogers via RealClearMarkets.com, Something cracked in private credit this month, and the men who manage systemic risk for a living are saying so. Goldman Sachs CEO David Solomon's just-released 2025 annual shareholder letter warns that concerns about private credit - including "underwriting quality or exposure to software companies that may be negatively affected by AI" - are "a reminder that the credit cycle has not been repealed." His predecessor Lloyd Blankfein went further on Bloomberg's Big Take podcast: "I don't feel the storm, but the horses are starting to whinny in the corral." JPMorgan has already voted with its balance sheet , marking down software company loans held as collateral by private credit funds and reducing borrowing capacity for those funds, before any actual defaults. "I'm shocked that people are shocked," said JPMorgan's Troy Rohrbaugh. The backdrop is three major liquidity failures in the space of six weeks. Blackstone's $82 billion BCRED faced record redemption requests of $3.7 billion (7.9% of assets) and had to inject $400 million of its own capital to honor them. BlackRock gated its $26 billion HLEND after receiving withdrawal requests of 9.3% of NAV. Blue Owl permanently halted redemptions in OBDC II and sold $1.4 billion in loans to fund an orderly exit. Blue Owl shares have since fallen roughly 40% year-to-date. These are not random liquidity events. They are the structural consequence of a capital concentration problem I have been watching build for a decade. In 2025 alone, the ten largest private credit funds captured nearly 46% of all capital raised, the highest concentration in over a decade. That tidal wave of capital forces mega-platforms into ever-larger deals, typically companies with $200 million or more in EBITDA, where they compete head-to-head with broadly syndicated loan syndicates and public high-yield. The result is spread compression, yiel...
sharrocks/iStock Unreleased via Getty Images Joby Aviation ( JOBY ) displays a unique investment opportunity with the company's financial resources, regulatory authority, and operational readiness, which all provide the company with a sustainable competitive advantage over competitors. The recent equity financing dramatically shifted the company's financial condition. As of today , Joby has over $...
sharrocks/iStock Unreleased via Getty Images Joby Aviation ( JOBY ) displays a unique investment opportunity with the company's financial resources, regulatory authority, and operational readiness, which all provide the company with a sustainable competitive advantage over competitors. The recent equity financing dramatically shifted the company's financial condition. As of today , Joby has over $2.6 billion in liquidity, equating to 2+ years of runway even with increased burn rates. This eliminates a near-term concern for investors, which is much more prevalent in peers. The terms of the convertible debt contain favorable terms, including a 0.75% interest rate and a conversion price well above current levels. This will mitigate any short-term dilutive effects for investors, allow for long-term upside potential, and allow Joby to focus on execution rather than obtaining funding. In addition to capital considerations, Joby also received an advantageous strategic benefit related to acquiring Blade's passenger business. With Joby's acquisition of Blade, the company will enter the eVTOL space with existing routes, customer demand, and logistical operations, thereby allowing them to seamlessly transition from helicopters to certified eVTOLs. This will essentially accelerate Joby's commercialization timeline while minimizing execution risks, especially when compared to competitors, who need to develop these same items from scratch. Joby is also well ahead when it comes to regulations and certifications. This is largely a result of the company's extensive historical testing efforts and advanced certification processes. In addition, Joby's involvement in multistate pilot projects and international agreements has created a strong regulatory moat that makes it difficult for competitors to replicate. In this emerging aviation market, regulatory leads can position companies with a durable and competitive advantage, which is something Joby is in a position to capture. Joby's rel...
Intel (NASDAQ:INTC) stock has climbed sharply, and Wall Street is taking notice. Susquehanna raised its price target on INTC stock to $65 from $45, keeping a Neutral rating on the shares. The move signals growing confidence in Intel’s near-term execution, even if the firm isn’t ready to go fully bullish. The timing matters. Intel reports ... Susquehanna Raises Intel’s Price Target to $65: Is the S...
Intel (NASDAQ:INTC) stock has climbed sharply, and Wall Street is taking notice. Susquehanna raised its price target on INTC stock to $65 from $45, keeping a Neutral rating on the shares. The move signals growing confidence in Intel’s near-term execution, even if the firm isn’t ready to go fully bullish. The timing matters. Intel reports ... Susquehanna Raises Intel’s Price Target to $65: Is the Struggling Chipmaker Finally Turning the Corner?
Evercore ISI is jumping on the Sandisk bandwagon, initiating coverage of the stock with an outperform rating and $1,200 price target. That implies 26% upside from Monday's close. However, its bull case has the stock surging to $2,600 — a 173% jump. The flash memory storage company has been on a tear this year, already climbing more than 290%, as demand for its chips soared on the artificial-intell...
Evercore ISI is jumping on the Sandisk bandwagon, initiating coverage of the stock with an outperform rating and $1,200 price target. That implies 26% upside from Monday's close. However, its bull case has the stock surging to $2,600 — a 173% jump. The flash memory storage company has been on a tear this year, already climbing more than 290%, as demand for its chips soared on the artificial-intelligence boom. "We believe SNDK is levered to one of the most attractive areas of the AI infrastructure stack — data storage, where demand is accelerating and supply remains constrained at minimum through CY28 if not beyond," analyst Amit Daryanani said in a note Monday. SNDK YTD mountain Sandisk year to date "Despite strong stock performance, we see further upside driven by earnings revisions, mix shift toward enterprise SSD [solid state drive], and multiple re-rating," he added. Daryanani sees room for sustained growth from average selling price tailwinds since the industry is more focused on supply-demand and return optimization rather than pure bit growth. Increased exposure to enterprise and cloud should also drive a stronger growth path and diversity for the company, he said. In addition, there is room for sustained margin and free-cash-flow expansion, he noted. Lastly, Daryanani expects the company to begin returning capital to shareholders in the form of buybacks.
The festival might feel more corporate than ever but enthusiasm remained sky high with Bieber fever, a Demon Hunters surprise and a pop takeover Even in the best of times, Coachella can be a heavy lift – long drive, perhaps longer lines and, if you do it right, extremely long days of careening between live music sets under the intense desert sun. Every year, North America’s largest music festival ...
The festival might feel more corporate than ever but enthusiasm remained sky high with Bieber fever, a Demon Hunters surprise and a pop takeover Even in the best of times, Coachella can be a heavy lift – long drive, perhaps longer lines and, if you do it right, extremely long days of careening between live music sets under the intense desert sun. Every year, North America’s largest music festival generates a round of buzz and scorn in near equal measure for good reason – the sky-high prices, the deluge of cringey social media boasts, the overwhelming vibes of influencer culture. Yet the faithful keep returning (and the agnostics keep tuning in online), forking over a minimum of $649 for a three-day pass or securing a brand deal to witness what continues to be the most expansive and comprehensive music slate in the country, a genuinely exciting mix of up-and-comers gunning for a breakout set and you-had-to-be there moments such as, say, the return of Justin Bieber … While Bieberchella dominated much of the conversation on the ground this year – his low-key but sufficient Saturday headliner set drew perhaps the biggest crowd in festival history – Coachella 2026 offered plenty of range for those not interested in the comeback of the millennial icon. Coachella may be the one thing in American currently safe from actual inflation – there was no rise in ticket prices this year, though I have to imagine that, like last year, over half of attendees are on payment plans. But the inflation mindset prevails. Following its so-called flop era two years ago, when underwhelming headliner billing led to the slowest ticket sales in over a decade, the festival has returned to conversation-dominating form with a more is more approach: more international artists catering to more potential attendees; more infrastructure (a new underground movie theater, the Bunker, was tailor-made for Radiohead’s Kid A Mnesia audiovisual experience); more investment in an impressive livestream operation...
The war in Iran may be ongoing, but traders have largely moved on , as a number of bullish catalysts in the coming months are poised to propel the S&P 500 Index to new highs, according to Wells Fargo Securities. The broad US stock market benchmark could rise to as high as 7,300 by July, a 6% jump from Monday’s closing level , the firm’s equities strategists led by Ohsung Kwon wrote in a note to cl...
The war in Iran may be ongoing, but traders have largely moved on , as a number of bullish catalysts in the coming months are poised to propel the S&P 500 Index to new highs, according to Wells Fargo Securities. The broad US stock market benchmark could rise to as high as 7,300 by July, a 6% jump from Monday’s closing level , the firm’s equities strategists led by Ohsung Kwon wrote in a note to clients dated Monday. The “three months of sugar high” will be driven by the Trump administration’s tax program, an expected pickup in manufacturing activity, technology companies monetizing their artificial intelligence investments and the World Cup being hosted in the US, according to the team. “We remain structural bulls, and our ‘tactically cautious’ call didn’t play out,” they wrote, predicting a “potential growth” surprise in the second quarter. US stocks have erased all of the losses since the war in Iran began, with President Donald Trump dangling hopes of an agreement to end the conflict even as the US blockades the Strait of Hormuz. The S&P 500 tumbled as much as 9% from its January peak to its March 30 trough as oil posted its quickest surge in history. Wells Fargo expects heftier tax refunds to exceed the higher cost of living over the next six months. Lower tariffs are also on track to drive an acceleration in growth. In addition, the firm sees the AI cycle maturing to a monetization-led bull market, and says the World Cup should drive increased consumption in June and July, further stimulating the economy. Enthusiasm within the equity market is already building, with the Nasdaq 100 Index on track for its 10th straight session in the green, its longest winning streak since November 2021 and something that has occurred only 10 times this century, according to data compiled by Bloomberg. Citigroup Strategists Upgrade US Stocks on ‘Defensive Tilt’ BlackRock Pivots Back to US Stocks With Iran War ‘Contained’ Warning Sign for Stocks Seen in Surging Inflation Expectati...
Lucid and Nuro executives hailing an Uber robotaxi. | Image: Nuro Lucid is making some changes. The luxury EV company said Tuesday that it was expanding its robotaxi deal with Uber - and nabbing some additional investment cash in the process. And it's naming a new CEO who hails not from the world of electric vehicles, but from a company that manufactures a different kind of mobility device: elevat...
Lucid and Nuro executives hailing an Uber robotaxi. | Image: Nuro Lucid is making some changes. The luxury EV company said Tuesday that it was expanding its robotaxi deal with Uber - and nabbing some additional investment cash in the process. And it's naming a new CEO who hails not from the world of electric vehicles, but from a company that manufactures a different kind of mobility device: elevators, escalators, and moving walkways. First, Lucid said that Uber is increasing the number of Lucid Gravity SUVs it is purchasing, from 20,000 to 35,000, for its robotaxi fleet. If you'll recall, last year, Lucid, Uber, and autonomous delivery startup. Nuro announced a massive robotaxi deal that would see the de … Read the full story at The Verge.