Reddit: According to Bloomberg News, the social media giant aims to raise a hefty sum of up to $748 million through its forthcoming initial public offering. Reddit’s ambitious objective is to secure a valuation of $6.4 billion.
Commenting on Reddit’s potential has highlighted the significance of appealing to Redditors in the deal placement process, expressing optimism about its prospects.
The involvement of Morgan Stanley as one of the investment banks collaborating on the deal, with Cramer’s Charitable Trust, utilized by the CNBC Investing Club, being a shareholder in Morgan Stanley.
Bitcoin: Achieving a milestone, the cryptocurrency surged to a record high surpassing $72,000 per coin on Monday, further bolstering its recent rally coinciding with the debut of bitcoin exchange-traded funds in the United States.
The scarcity of natural sellers for bitcoin indicates a potential for continued upward momentum. It can be emphasized that the evolving perception of Bitcoin as an investment asset is suitable for long-term holding rather than merely a currency.
Boeing: The Wall Street Journal disclosed over the weekend that the Department of Justice had initiated a criminal inquiry into Boeing concerning the door-panel blowout incident involving Alaska Airlines.
Consequently, Boeing shares experienced a decline exceeding 3% on Monday. The typical course of action in such investigations, anticipating potential implications for the company’s leadership, including the separation of the CEO and the engagement of separate legal counsel.
Netflix: Analysts at Oppenheimer raised their price target for the streaming behemoth to $725 per share from $615, citing expectations of robust subscriber growth in the forthcoming years.
This surge is anticipated due to Netflix’s crackdown on password sharing and the introduction of a more affordable, ad-supported subscription tier.
It can be underscored the remarkable resilience of Netflix in maintaining investor favor compared to Disney, advocating for activist investor Nelson Peltz’s campaign for a board seat at Disney, a company also held in the Club’s portfolio.
EQT Corp.: Making headlines, the Pittsburgh-based natural gas producer announced an all-stock acquisition deal worth $5.5 billion to acquire Equitrans Midstream, the owner of the Mountain Valley Pipeline.
The confidence in Coterra’s growth potential projects a target price of $35 per share. Despite a slight dip of approximately 0.6% in Coterra’s shares on Monday, they remained valued at just over $26 each.
