NexOptic Technology Corp (TSXV: NXO)
You’ll Never See The World The Same Way Again
President Trump has issued an executive order looking to force China’s ByteDance (BDNCE) to divest its U.S. operations in TikTok within 90 days, in another turn of the screw to pressure the company out of America.
“There is credible evidence that leads me to believe that ByteDance … might take action that threatens to impair the national security of the United States,” Trump said in the order.
The order seems to overlap with one issued last week, which barred transactions with TikTok unless it was divested in 45 days (an order that accelerated talks to sell TikTok’s North America, Australia and New Zealand operations to Microsoft (NASDAQ:MSFT)).
But the new order is more direct about divesting the stake, and actually offers a bit more time for ByteDance to find a deal.
The order directs ByteDance to also divest any data it obtained from users of TikTok or Musical.ly in the United States. It also authorizes U.S. officials to inspect TikTok and ByteDance’s books to ensure the safety of personal data as talks are ongoing.
Appaloosa reports fund value of $5.76B as on 30th June, 2020.
Notable buy includes AT&T (NYSE:T) 9.08M shares, Sysco (NYSE:SYY) 1.88M shares, Altria (NYSE:MO) 1.55M shares, The Walt Disney (NYSE:DIS), Teeneco (NYSE:TEN), PayPal Holdings (NASDAQ:PYPL), Visa (NYSE:V), Mastercard (NYSE:MA).
Boost stakes includes The Goodyear Tire & Rubber (NASDAQ:GT) 5M from 3.37M shares, Wells Fargo (NYSE:WFC) 1.9M from 0.7M shares, Alibaba (NYSE:BABA), Western Midstream Partners (NYSE:WES).
Notable exits: Utilities Select Sector SPDR ETF (NYSEARCA:XLU) and Invesco Senior Loan ETF (NYSEARCA:BKLN).
Trim stakes includes Facebook (NASDAQ:FB) 2.23M from 2.41M shares, while among many others were UnitedHealth (NYSE:UNH).
Brazilian-US investment fund, 3G Capital’s portfolio value stands at ~$47M as of 30th June.
The filing shows notable new positions in Fastly (NYSE:FSLY), Pinduoduo (NASDAQ:PDD), Square (NYSE:SQ) and Zoom (NASDAQ:ZM), while the fund exited Alibaba (NYSE:BABA), Facebook (NASDAQ:FB), Roku (NASDAQ:ROKU), and Anaplan (NYSE:PLAN).
Increased positions in Sea (NYSE:SE), and Bill.com (NYSE:BILL)
Zhejiang, China-based Farmmi (FAMI +97.5%) zooms northward on whopping turnover of 209M shares on no readily available news.
A month ago, it announced a new order for mushrooms from an unnamed global supplier to hotel and supermarket chains.
A week before that, it announced that it was expanding its online and cloud-based platforms to drive growth.
Financial results from its most recent fiscal year (ended September 30, 2019):
Revenues: $30.8M (+3.4%); net loss: ($0.3M) (-109.4%); loss/share: ($0.03) (-110.3%).
Cash consumption: ($10.8M) (-300.0%)
Cash balance at fiscal year-end: $135K.
In the Q2 earnings report, Baidu (BIDU -6.5%) discloses board approval to increase the repurchase program from $1B to $3B, effective through Dec. 31, 2022.
The company has bought back $540M of shares under its 2020 share repurchase in Q2, with its total repurchase for the last two years now at ~$1.9B.
