from Yahoo Finance https://ift.tt/3hftQxw

The cannabis industry is one of the fastest-growing business sectors in the western world. CBD, or cannabidiol, is disrupting many traditional industries such as cosmetics, beverages, and even pharmaceuticals.

from Yahoo Finance https://ift.tt/2MGaALv

Epistrophy Capital Managing Member Cory Johnson joins Yahoo Finance’s On The Move to discuss how cryptocurrencies are faring amid the pandemic.

from Yahoo Finance https://ift.tt/3dOx2xT

(Bloomberg) — J.C. Penney Co. shareholders got a helping hand Tuesday from U.S. Bankruptcy Judge David Jones.Jones will order the retailer to pay as much as $250,000 in professional fees to support an informal group of shareholders who have been challenging the bankruptcy, he said in a hearing Tuesday. In exchange, the group of retail investors agreed to nix its attempt to have the whole case thrown out along with its request for status as an official group, which could’ve resulted in huge legal bills for J.C. Penney.Shareholders typically get no recovery in a Chapter 11 bankruptcy, but the legal fights that result from pugnacious stockholders can slow down a case and hurt recoveries for creditors. Jones said he views the compromise as a way to help educate shareholders on where the case is headed and how bankruptcy works.“I’m looking at this as a very reasonable expenditure to further education and promote discussion,” Jones said. “It’s not a war chest.”The news comes on the heels of a head-scratching surge in the stock prices of J.C. Penney and other bankrupt companies. Some of the retailer’s bonds, which rank well above shares in the repayment line, were recently preliminarily valued at just 1.375 cents on the dollar in a credit-default swap auction, implying extremely slim odds of any payout to equity investors.Still, J.C. Penney shareholders have been active participants in its bankruptcy proceedings to date. Several have asked questions during hearings, including cross-examining witnesses and pleading with Jones to prevent a wipeout of the stock. In court papers, the informal stockholder group decried recent bonus payments to executives and insisted that bankruptcy could’ve been avoided.“If there is any possible way — any way — to give a meaningful recovery to shareholders, we will fight for it,” Joshua Sussberg of Kirkland & Ellis, J.C. Penney’s bankruptcy lawyer, said in the hearing. But he added that not filing for bankruptcy “would have left the company on a desolate island without a chance for survival.”The case is J.C. Penney Company Inc., 20-20182, U.S. Bankruptcy Court for the Southern District of Texas (Corpus Christi)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

from Yahoo Finance https://ift.tt/2ATCh0y

Optimism on President Trump winning re-election may in part be fueling the stock market's latest surge, says this veteran strategist.

from Yahoo Finance https://ift.tt/2MLMYF4

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

from Yahoo Finance https://ift.tt/2zg1Gky

Nikola Executive Chairman Trevor Milton joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the company’s stock more than doubled in the past few days since its Nasdaq debut.

from Yahoo Finance https://ift.tt/3f8Timo

Diamond Hill Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Diamond Hill Small Cap Fund posted a return of -36.17% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned -30.61% in the same quarter. You should check out Diamond Hill Capital's top 5 […]

from Yahoo Finance https://ift.tt/3cNokOX

Nikola shares have been on fire since their recent debut on the Nasdaq. founder Trevor Milton tells Yahoo Finance why.

from Yahoo Finance https://ift.tt/3f8ANi0

Gold prices rose on Tuesday amid the coronavirus pandemic. George Milling-Stanley, State Street Global Advisors Chief Gold Strategist joins Yahoo Finance’s On The Move to discuss.

from Yahoo Finance https://ift.tt/3h9QiYE