The rebound for tech stocks could still be a year out, one longtime tech analyst stated, and the recovery may even take the shape of an iconic hairstyle. “We believe in the mullet trade… where it’s kind of business in front, party in back,” Thill said on Yahoo Finance Live (video above), referring to the haircut that rose to popularity from the 1970s through the ’90s. “Hopefully that plays out. [That] it may end up just being a dragged-out, really tough 2023 is the risk, and it may end up… Source link
Read More »Target hit with ‘drastic’ cut from Jefferies for 4 reasons
Target stock could stay in the penalty box as the retailer aggressively sells slow-moving inventory and industry discounting picks up amid the economic slowdown, Jefferies analyst Stephanie Wissink warns. Wissink, citing “profit warnings from peers & suppliers and pressure on discretionary wallets,” slashed her EPS estimates on Target for the balance of 2022 and 2023 in a new note on Monday. “The cut to our model appears drastic at face value, fully discounting Target’s ability to bounce back… Source link
Read More »Jefferies Blocks Short Sells in GameStop, AMC, MicroVision
(Bloomberg) — Jefferies told clients Wednesday its prime brokerage arm will no longer allow the execution of short sells in GameStop Corp., AMC Entertainment Holdings Inc. and MicroVision Inc., according to a memo seen by Bloomberg News. “Until further notice, Jefferies Prime Brokerage will no longer offer custody on naked options in GME, AMC and MVIS,” the memo noted. The firm will no longer allow the execution of short sells of those securities, the memo continued, noting that other… Source link
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