. Top 5 Stock To Trade Today 17 May 2021 | Capital Street Fx

Top 5 Stock To Trade Today 18 May 2021 | Capital Street Fx

Top 5 Stock To Trade Today 18 May 2021 | Capital Street Fx

18 May 2021


1. TESLA: – The family office run by “Big Short” investor Michael Burry has disclosed a short position against Tesla (NASDAQ:TSLA) Inc worth more than half a billion.

Scion Asset Management said in a regulatory filing on Monday that it had bearish put options on 800,100 shares in Tesla as of the end of the first quarter that were worth $534 million.

Put options give investors the right to sell shares at certain price in the future.

One of the investors profiled in the book “The Big Short’ and the film of the same name for betting more than a billion dollars against the U.S. housing bubble, Burry has been skeptical of Tesla’s sky-high valuations.

In February, he tweeted “my last Big Short got bigger and Bigger and BIGGER,” referring to Tesla’s surge in market capitalization. “Enjoy it while it lasts,” he said.

2. AT&T: – AT&T (NYSE:T), owner of HBO and Warner Bros studios, and Discovery (NASDAQ:DISCA), home to lifestyle TV networks such as HGTV and TLC, said they will combine their content to form a standalone global entertainment and media business.

Discovery Chief Executive David Zaslav will lead the proposed new company, which will comprise one of Hollywood’s most powerful studios, including the Harry Potter and Batman franchises, news network CNN, sports programming and Discovery’s unscripted home, cooking and nature and science shows.

Monday’s move marks the unwinding of AT&T’s ambitious plan to forge a telecoms and media powerhouse through a flurry of deals including the 2018 $108.7 billion acquisition of U.S. media conglomerate Time Warner and the 2015 purchase of satellite TV service DirecTV for $68 billion.

3. EXXON MOBIL: – Advisory firm Glass Lewis recommended on Monday that Exxon Mobil (NYSE:XOM) shareholders elect two of hedge fund Engine No. 1’s four board nominees in a proxy contest at the largest U.S. oil producer.

Tiny activist fund Engine No. 1 has taken aim at Exxon’s board and its future direction in the first major shareholder contest to make climate change a top issue. The fund has criticized Exxon for poor financial returns and a lagging approach to the transition to lower-carbon energy.

Glass Lewis recommended that shareholders vote for Gregory Goff, former chief executive at oil refiner Andeavor, and Alexander Karsner, a former U.S. Assistant Secretary of Energy for efficiency and renewable energy.

4. APPLE: – Parler, a social media app popular with U.S. conservatives, returned to Apple Inc (NASDAQ:AAPL)’s App Store on Monday, after the iPhone maker dropped it following the deadly Jan. 6 riot at the U.S. Capitol.

Parler also named George Farmer, the company’s chief operating officer since March, as its new chief executive and said interim CEO Mark Meckler would be leaving.

Apple said last month it would readmit Parler into its iOS App Store, after Parler proposed updates to its app and content moderation policies.

“The entire Parler team has worked hard to address Apple’s concerns without compromising our core mission,” said Meckler in an emailed statement.

“Anything allowed on the Parler network but not in the iOS app will remain accessible through our web-based and Android versions. This is a win-win for Parler, its users, and free speech.”

5. AMAZON: – Amazon.com Inc (NASDAQ:AMZN) is in talks to acquire the iconic U.S. movie studio MGM, The Information reported on Monday, citing a person familiar with the matter.

The status of Amazon’s discussions with MGM is unclear and it is possible no deal may result, the report said.

The movie studio behind the “James Bond” franchise, also owns the Epix cable channel and makes TV shows, including popular shows like The Handmaid’s Tale, Fargo, Vikings and Shark Tank.

Amazon declined to comment on the report, saying it “doesn’t comment on rumors or speculation”.