Economy Stock market chat v3: Tesla crashes

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Jesus. Biggest movie theater chain in world and 7% dividend

chart.ashx
 
I sold all my CVS this morning. It could rise a little but I think they are in trouble. One of the reasons drug prices are so expensive is because of managed pharmacy benefit plans or whatever. Everyone from Trump to the Democrats has railed against this. Now we got people like Amazon negotiating straight with insurers. In fact, CVS just won a lawsuit to prevent a former executive from joining Amazon.

I bolded and underlined the most important part. The percent of revenue coming from managing these plans.

In April, CVS filed a lawsuit against John Lavin, a former senior vice president in charge of CVS Caremark’s retail pharmacy network, after Lavin told the company he was leaving to take a job at Amazon’s pharmacy arm, PillPack. The judge this week ruled in CVS’ favor, preventing Lavin from taking immediate employment at PillPack.

That follows another case from January of this year, where insurance giant UnitedHealth sued one of its employees for attempting to join a different Amazon initiative. That was Haven, Amazon’s joint employer health venture with Berkshire Hathaway and J.P. Morgan.

These lawsuits suggest incumbents are more concerned than they’re letting on in public.

The underlying concern: Amazon going directly to insurers
Amazon has said almost nothing in public about its health-care strategy.

But Amazon could disrupt the space dramatically by negotiating directly with insurance companies on drug pricing, cutting out the existing pharmacy benefits managers, or PBMs. All of that could potentially lower health-care costs for consumers.

Among other functions, PBMs help insurance companies negotiate lower drug costs. Manufacturers arrange discounts, called rebates, with the benefits managers so they can fix a spot for their products on a PBM’s list of preferred drugs. It’s a huge business — CVS’ PBM business represented approximately 60% of its overall revenues in 2018, or around $116 billion, according to a person familiar with CVS’ business.
 
lol Canopy with another sketchy AF late AH earnings report.
I remember getting laughed at for calling a short @$47 last time this happened.

That makes a company look so bush league. It is unacceptable. Cramer is big on earnings call mistakes, I wonder if he will mention this. He seems to really like the executives of Canopy but somebody needs to take them to task.
 
Toy Story 4 coming out. Pixar. The original movie changed an industry. Jobs had a great eye for talent. His wife is still one of Disney's largest shareholders and Jobs obviously would be if he was alive. He would be on the Board too if he wanted.

In addition, he helped to develop the visual effects industry when he funded the computer graphics division of George Lucas's Lucasfilm in 1986. The new company was Pixar, which produced the first 3D computer animated film Toy Story (1995).

Floyd Norman, of Pixar, described Jobs as a "mature, mellow individual" who never interfered with the creative process of the filmmakers.[79] In early June 2014, Pixar cofounder and Walt Disney Animation Studios President Ed Catmull revealed that Jobs once advised him to "just explain it to them until they understand" in disagreements. Catmull released the book Creativity, Inc. in 2014, in which he recounts numerous experiences of working with Jobs. Regarding his own manner of dealing with Jobs, Catmull writes:[80][page needed]

In all the 26 years with Steve, Steve and I never had one of these loud verbal arguments and it's not my nature to do that. ... but we did disagree fairly frequently about things. ... I would say something to him and he would immediately shoot it down because he could think faster than I could. ... I would then wait a week ... I'd call him up and I give my counter argument to what he had said and he'd immediately shoot it down. So I had to wait another week, and sometimes this went on for months. But in the end one of three things happened. About a third of the time he said, 'Oh, I get it, you're right.' And that was the end of it. And it was another third of the time in which [I'd] say, 'Actually I think he is right.' The other third of the time, where we didn't reach consensus, he just let me do it my way, never said anything more about it.[81]
 
down on starbucks puts again. lol. i sold previous ones at a small loss and then bought some more yesterday near end of day, and then starbucks hits its high at end of day.

I think Starbucks is a good company and stock and I regret selling it a while ago. I plan to buy it back but god damn is it over bought.
 
went big on wow at 7.17. amc ceo coming up on cnbc
 
All the IPO stocks taking shits. I thought I was safe reentering RVLV at 40...
 
Bought some Nio at 2.63. It's a fake company but I am hoping to swing.

chart.ashx
 
i feel like i spent 90% of the day buying into dips and 10% flipping dumb shit.
 
Cobalt 27 didn't work out exactly as planned. Pala intends to acquire them and spin off some of their lesser assets. Kind of an interesting situation.

https://seekingalpha.com/article/4271103-cobalt-27-deal-looks-good-paper-reality-may-disappoint

Most shareholders got screwed. My average price was 2.80ish, so at least there is almost no way I lose money. Can either sell for a small gain or pretty much freeroll with some shares Nickel 28.

Meanwhile Syrah Resources has tanked, but fortunately I was able to sell off some shares even tho there was a trading halt on the ASX after a cash raise was announced.

Gold has gone nuts. I was so close to getting some MUX, RNC, or Ivanhoe mines about a month ago. Oh well.

Most of my other stocks have been doing alright. Thinking of selling Dollar General. It's had a good run.
 
I decided Wayfarer sunglasses are cooler than aviators. Both made by Ray Ban, whose parent company owns all sunglasses. lol. European stock I can't buy.


be5aa3cf-4870-4631-b64f-291393f9eba1


main-qimg-c8c1c11d846d6d5e4e3dfe8568e856b5


Luxottica Group S.p.A. is an Italian eyewear company and the world's largest company in the eyewear industry.[3][4] It is based in Milan, Italy.[5]

As a vertically integrated company, Luxottica designs, manufactures, distributes and retails its eyewear brands, including LensCrafters, Sunglass Hut, Apex by Sunglass Hut, Pearle Vision, Sears Optical, Target Optical, Eyemed vision care plan, and Glasses.com. Its best known brands are Ray-Ban, Persol, and Oakley.

Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu and Tory Burch.[6][7][8][5]
 
@brackis1 I've been saying this for years and it is something that most pissed me off about Musk. It so pissed me off I ended up getting banned from a Discord chat because I said I hope Musk dies in a Tesla. lol. What was I mad about? Him constantly telling people how safe the autopilot was, and that people who are saying not to rely on it so much are being dangerous. I guessed the exact opposite was true of course, that the autopilot was overrated and the dependence on it was the danger. I was right.

The public thinks Tesla’s Autopilot is safer than it is, an insurance group says


The assumption that Tesla’s Autopilot was more capable of handling intrinsically unsafe behavior didn’t surprise Harkey.

“The name implies something to the consumer about automation, that the vehicle is designed with automated capabilities that allows them to take on other tasks,” he said.

“We’ve seen a number of unfortunate fatal crashes involving Tesla Autopilot,” Harkey said. “It’s apparent from crashes that have happened that people are improperly using the system and improperly inferring the system does more than it is designed to.”


https://www.latimes.com/business/au...t-safety-survey-insurance-20190620-story.html


“His board of directors needs to slap him upside the head,” says Missy Cummings, who researches human and autonomous vehicle interaction at Duke University. “One of the biggest problems with Tesla is something called mode confusion—people don’t realize when a car is in one automated mode versus not.”

https://www.wired.com/story/elon-musk-tesla-autopilot-60-minutes-interview/

I have seen him Tweet in the past bitching about people making autopilot more dangerous by not trusting it. I can't find the tweet, though I didn't look very hard. He has too many tweets.
 
She also studied brand names at Utah and found that people overestimated Autopilot’s capabilities but underestimated the capabilities of Cadillac’s Super Cruise, whose abilities are similar to Autopilot’s but which uses an eye tracker instead of steering-wheel torque measurement to monitor driver attention. (Autopilot won’t notice a driver is sleeping if he or she keeps a hand on the wheel, Funkhouser noted, but the Cadillac with its eye tracker would register a problem and the car would move to the side of the road.)

It’s important for people to see beyond marketing hype, Funkhouser said. “A lot of people with a lot of money are promising things that aren’t real or haven’t even been invented yet.”
 
@brackis1 I've been saying this for years and it is something that most pissed me off about Musk. It so pissed me off I ended up getting banned from a Discord chat because I said I hope Musk dies in a Tesla. lol. What was I mad about? Him constantly telling people how safe the autopilot was, and that people who are saying not to rely on it so much are being dangerous. I guessed the exact opposite was true of course, that the autopilot was overrated and the dependence on it was the danger. I was right.

The public thinks Tesla’s Autopilot is safer than it is, an insurance group says


The assumption that Tesla’s Autopilot was more capable of handling intrinsically unsafe behavior didn’t surprise Harkey.

“The name implies something to the consumer about automation, that the vehicle is designed with automated capabilities that allows them to take on other tasks,” he said.

“We’ve seen a number of unfortunate fatal crashes involving Tesla Autopilot,” Harkey said. “It’s apparent from crashes that have happened that people are improperly using the system and improperly inferring the system does more than it is designed to.”


https://www.latimes.com/business/au...t-safety-survey-insurance-20190620-story.html


“His board of directors needs to slap him upside the head,” says Missy Cummings, who researches human and autonomous vehicle interaction at Duke University. “One of the biggest problems with Tesla is something called mode confusion—people don’t realize when a car is in one automated mode versus not.”

https://www.wired.com/story/elon-musk-tesla-autopilot-60-minutes-interview/

I have seen him Tweet in the past bitching about people making autopilot more dangerous by not trusting it. I can't find the tweet, though I didn't look very hard. He has too many tweets.
Yeah he knows this and doesn't care because its all publicity for him lol
 
Big options activity on PCG. Bill call volume on Target as well. CZR with big volume too, puts over calls. Big call volume on TJX too.

Ranked by implied move/volatility:

Screenshot_20190623-162914.png



Ranked by volume:



Screenshot_20190623-163215.png
 
Boom CZR getting sold for just about $13 a share! 30% gain for my huge bet!
 
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