Tuesday, 29 January 2019

Fwd: Could Uber and Lyft's IPOs Be Delayed?

On Friday, we saw the end to a 35-day partial government shutdown for the U.S., the longest U.S. shutdown in history. But that end could be just temporary. And it's caused a slowdown in the IPO market that may struggle to regain its footing in 2019.
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Could Uber and Lyft's IPOs Be Delayed?
Monica Savaglia PhotoBy Monica Savaglia
Written Jan. 29, 2019

On Friday, we saw the end to a 35-day partial government shutdown for the U.S., the longest U.S. shutdown in history. But that end could be just temporary.

The president agreed to open the government back up, but only until February 15th. That’s the deadline for both Congress and President Trump to come to some sort of agreement. Only time will tell if it’s possible for pride to be put aside and for the two come to an agreement for the good of the country.

The president’s announcement this past Friday was good news for a lot of government workers who haven’t received the last their last two paychecks. Without a doubt, the shutdown was putting major financial and mental stress on the country and government employees. However, it’s hard to feel secure that the country won’t go back to that level of stress when we start getting closer to February 15th deadline.

The president had a decision set in his mind that if Congress didn’t accept his proposal for funding to build a wall for border security, then the government would stay shut down — a slightly stubborn stance in my opinion. Throughout those 35 days, both sides needed to put pride aside and meet to negotiate what would be best for the country, but that wasn’t happening.

Obviously, a 35-day government shutdown had a huge impact on the country. And more specifically, this shutdown played a crucial role in a slowdown in the initial public offering (IPO) market.

 

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U.S. Government Shutdown Creates an IPO Slowdown

At the end of last year, I couldn’t stop talking about how great the 2018 market was. 2018’s IPO market raised $46.9 billion, and 191 companies went public. It was a record-breaking year for IPOs!

Then there was news of highly valued and well-known companies looking to IPO in 2019 — companies like Uber, Lyft, Slack, Pinterest, CrowdStrike, and Airbnb, just to name a few. 2019 was looking to be another record-breaking year, and of course, I was more than excited about that.

During a panel on automated markets at the World Economic Forum in Davos, Switzerland, Nasdaq CEO Adena Friedman said:

[We] had 22% higher number of IPO applications at the end of [2018] as we had at the end of [2017]. So, there is a lot of demand for companies wanting to tap the public markets.

But all of that has been postponed. The shutdown meant the Securities and Exchange Commission (SEC) couldn’t review or sign off on companies that needed it to review their financials before they could go public and start selling stock to investors.

Even a temporarily opened government might not have a big of impact on the IPO market because the filing process with the SEC takes months, not days. If the government returns to being closed, that would mean IPO business would go back into a slowdown and never be able to reach full potential for 2019.

 

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Hoping for the Best, Preparing for the Worst

John Tuttle, COO of the NYSE, is hoping there will be some movement during the three-week window of the government being opened, especially for those companies that were set to IPO.

Tuttle said:

With the government reopened, we can expect several companies to launch their roadshow and complete an initial public offering. That said, the second half of February is usually a slower period for IPOs due to third-quarter financial statements going stale. We are hopeful policymakers will agree to keep the federal government open and allow companies to access our public markets to raise capital and ultimately fuel economic growth.

Investment banks collect million-dollar fees from IPOs, and if there are no IPOs happening, then those investment banks aren’t collecting money. Not to mention, the investors who stay up to date on the IPO market and who enjoying getting their hands on big companies like Uber, Lyft, Airbnb, Pinterest, and Slack are growing impatient.

Even if the government stays open past February 15th and there is a resolution, the IPO slowdown could continue for a little longer. Companies aren’t particularly attracted to the idea of IPO'ing in February because of lackluster financial statements, which will lead them to hold off until their financial statements are more attractive to potential investors and banks.

Tuttle said:

Where it’s particularly challenging is a lot of companies based on their fiscal year end their numbers in those documents [which] go stale in mid-February. So that will push them even later in the cycle.

Companies that were hoping to IPO in the first quarter of 2019 will now push their IPOs a little later. There is a lot of marketing involved with IPO'ing. A company wants to appeal to investors to earn the most from its IPO and to prove that it’s worthy of being a future investment.

Stay Informed and Know What to Expect

At this moment, we’re hoping that in the next three weeks, Congress and the president will come to an agreement about how to budget for border security. They both agree that border security is an important topic and should be budgeted for, but that main disagreement is budgeting for the border wall Trump is advocating for.

We can’t afford another government shutdown. It’s going to have an even greater impact if it continues after February 15th.

There are a lot of opportunities to be had in the IPO market. Imagine being part of a company that has the potential to be the next Apple or Amazon. Knowing and learning about a company the moment it goes public and following the company on the way to its success is one of the most rewarding experiences you can have as an investor.

Here’s your chance to be a part of that experience and begin expanding your knowledge on the IPO market and what it has to offer investors. The best thing you can do right now is know what to expect.

Until next time,

Monica Savaglia

Monica Savaglia

Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.

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Sunday, 27 January 2019

BBRY's buyback program

https://www.google.com/search?q=what+is+blackberry+stock+buy+back+program&rlz=1C1AWFB_enIL749IL749&oq=what+is+blackberry+stock+buy+back+program&aqs=chrome..69i57.10955j0j9&sourceid=chrome&ie=UTF-8

some articles that you might find interesting about what the company is doing to hold it's own foot in the share table

last I checked the stock price is back to about $8.10 

Love,
Kfir.


Monday, 21 January 2019

Fwd: Ontario retail cannabis lottery sparks feeding frenzy: "Most people who put their hat in the ring just wanted a golden ticket"




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From: Financial Post & The Growth Op <newsletters@lists.financialpost.com>
To: rightbuy18 <rightbuy18@aol.com>
Sent: Mon, Jan 21, 2019 1:05 pm
Subject: Ontario retail cannabis lottery sparks feeding frenzy: "Most people who put their hat in the ring just wanted a golden ticket"

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What you need to know for the week of Jan. 21, 2019
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  • A live webinar on the Cannabis Act including the proposed edible, extracts and topicals amendments will be held on Jan. 24 by Academy of Applied Pharmaceutical Sciences.
  • Van der Pop will organize a 'Women & Weed' summit in Toronto on Jan. 26.
  • Ellementa will host a meet-up discussing cannabis as a wellness tool on Jan. 26 in Alberta.
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Deal makers scramble to woo the winners of
Ontario's retail cannabis lottery
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BY VANMALA SUBRAMANIAM
 
A web of lawyers, consultants, investors and entrepreneurs are working around the clock to design and facilitate complex deals between many of the 25 largely unknown winners of the Ontario retail cannabis lottery and entities that consider themselves veterans of the cannabis industry who are intent on participating in the province's cannabis retail system. 
 
But structuring these deals is proving to be more complicated than first believed, given stringent ownership requirements laid out by the Alcohol and Gaming Commission of Ontario (AGCO) that prevent lottery holders from ceding any kind of control over the future ownership of a cannabis retail store at least until the lottery period is over in December 2019.
 
"There are lawyers that are contacting us saying they have clients looking to do a deal, and if we might know a lottery winner. And then you have lottery winners who want to sell their licence, but now realize they can't just do that, they have to have a role in running the business," said Rami Chalabi, a partner at McCarthy Tétrault's cannabis group.
 
"So we are trying to figure out ways to help where we are onside with regulations," Chalabi explained.
On Jan. 12, Ontario announced the 25 winners of its cannabis retail lottery, who had until Jan. 18 to submit an application for a retail licence, which upon receipt would allow them to begin setting up a bricks-and-mortar store in a designated region of the province.
 
A vast majority of the lottery winners were sole proprietors, but the AGCO's rule of ownership effectively means that these individuals will not be allowed to either sell their licences (once received), enter into a franchise agreement that would see someone else run the cannabis shop, or enter into any kind of partnership that would see them share or hand over control to another entity.
 
"The AGCO has specified three things that I think many people were not prepared for: you cannot change the name of your business, the structure of your business and who controls your business," explained Brenna Boonstra, who oversees the retail licensing group at Cannabis Compliance Inc., a cannabis consultancy. "If you're a sole proprietor, no one can buy equity in your business, so you cannot take on partners."
 
 
 
 
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Tuesday, 15 January 2019

Fwd: 30 Swiggy Delivery Executives Arrested, Kerala Launches India’s Largest Startup Hub And More

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Swiggy Delivery Execs Clash With Hotel Empire Employees, 30 Arrested
Foodtech unicorn Swiggy came into the spotlight for the wrong reasons after some of its disgruntled delivery executives got involved in a skirmish with the staff of Bengaluru-based Empire Hotel and allegedly vandalised the latter’s property on Saturday.
 
 
Kerala has launched the country’s largest startup hub with a 1,000-seat capacity on January 13 in Kalamassery, Kochi. Named ‘Integrated Startup Complex,’ the facility is built to provide top quality infrastructure for incubation and acceleration for the state’s startups.
 
The Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) along with Bari Brahmna Industrial Association (BBIA) is rooting to create an angel and venture capital network in the state. The two organisations held a meeting on Saturday (January 12) to further promote innovation-based startups in the State of Jammu and Kashmir under the J&K Startup Policy 2018.
 
Online payment and ecommerce platform Paytm is reportedly looking to foray into the video content space and plans to launch over-the-top (OTT) services. The company has also begun the hiring process for the service, according to media reports.
 
Last week, the National Association of Software and Services Companies (NASSCOM) successfully hosted the NASSCOM International SME Conclave. The event was aimed at understanding the latest innovations and exploring ideas to utilise their power in future. Without further delay, let us take a look at the startup events in the coming week. Mark your calendars!
 
 
Bio Lifesciences
 
The panellists during Inc42’s The Ecosystem Summit, held in New Delhi on November 16, discussed their experiences in assisting Indian startups to achieve their goals, the changes they have observed in the ecosystem, their views on the role of a mentor, and, most importantly, explored the unique relationship between startups and the enablers of the ecosystem.
 
Talwar said the US has been doing late-stage deals for 60-70 years now, and in comparison to that, the Indian startup ecosystem is just about 10 years old and has a lot to develop. “We are no were close to scratching the surface of what the venture community needs to develop and become,” said Talwar.
 
 
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