2.25.2021

US stock rally drives 'ludicrous index' towards dotcom era heights - Financial Times

"Shares in 79 companies listed on the US stock exchanges have more than doubled in the past three months. These companies -- all worth more than $500m -- trade at a price-to-sales ratio higher than 10, more than three times the ratio across the benchmark S&P 500 index."

Note: This article was published on January 25 and many highflyers have seen significant corrections in recent weeks.

 

Blank-Check Buyers Set Sights on Corporate Spinouts as Next Prey - Bloomberg

"Blank-check companies, flush with cash and on the hunt for a private business to take public, have started adding corporate carveouts to their list of potential purchases."

 

GameStop Is Surging Again. And No One Can Say Why. - Barron's

"GameStop shares doubled on Wednesday with most of the gains coming in the last hour of trading. The rally carried over into after hours trading, with the stock up another 70% in the extended session. The cause of the move is up for debate."

 

Home Depot and Lowe's Shouldn't Fear Pandemic's End - WSJ

"Both Home Depot and Lowe's had strong holiday quarters ended late January, with sales up roughly 25% compared with a year earlier. Among the best selling items were lumber and outdoor living categories such as patio furniture and grills. For the year, Lowe's and Home Depot saw their revenue expand by 24.2% and 19.9%, respectively."