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meowmeowcat
2022-06-24
Meow
Bally's to Pursue $190 Mln Tender Offer for Its Shares
meowmeowcat
2022-06-15
Nicr
Tesla: This Split Is Different
Go to Tiger App to see more news
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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1656071189,"share":"https://ttm.financial/m/news/1142629227?lang=&edition=fundamental","pubTime":"2022-06-24 19:46","market":"us","language":"en","title":"Bally's to Pursue $190 Mln Tender Offer for Its Shares","url":"https://stock-news.laohu8.com/highlight/detail?id=1142629227","media":"Tiger Newspress","summary":"Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified \"Dutch auction\" te","content":"<html><head></head><body><p>Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified "Dutch auction" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.</p><p>Bally's shares jumped 7% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/26780c235df80db7e7a8bc1b9c4c60e3\" tg-width=\"872\" tg-height=\"616\" width=\"100%\" height=\"auto\"/></p><p>Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.</p><p>When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.</p><p>Standard RI Ltd. ("Standard General"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.</p><p>Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.</p><p>Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.</p><p>The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.</p><p>This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bally's to Pursue $190 Mln Tender Offer for Its Shares</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBally's to Pursue $190 Mln Tender Offer for Its Shares\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-24 19:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified "Dutch auction" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.</p><p>Bally's shares jumped 7% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/26780c235df80db7e7a8bc1b9c4c60e3\" tg-width=\"872\" tg-height=\"616\" width=\"100%\" height=\"auto\"/></p><p>Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.</p><p>When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.</p><p>Standard RI Ltd. ("Standard General"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.</p><p>Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.</p><p>Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.</p><p>The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.</p><p>This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BALY":"Bally Corp"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142629227","content_text":"Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified \"Dutch auction\" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.Bally's shares jumped 7% in premarket trading.Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.Standard RI Ltd. (\"Standard General\"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055966547,"gmtCreate":1655226071889,"gmtModify":1676535589717,"author":{"id":"3556189699543799","authorId":"3556189699543799","name":"meowmeowcat","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556189699543799","idStr":"3556189699543799"},"themes":[],"htmlText":"Nicr","listText":"Nicr","text":"Nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055966547","repostId":"1118010961","repostType":4,"repost":{"id":"1118010961","pubTimestamp":1655218875,"share":"https://ttm.financial/m/news/1118010961?lang=&edition=fundamental","pubTime":"2022-06-14 23:01","market":"us","language":"en","title":"Tesla: This Split Is Different","url":"https://stock-news.laohu8.com/highlight/detail?id=1118010961","media":"Seeking Alpha","summary":"Finance)Another major item to look at is where Tesla was as a company back then. The","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Company files for a 3 for 1 stock split at the annual meeting.</li><li>Investors looking for a major rally may be disappointed.</li><li>This is a very different Tesla than we saw in 2020.</li></ul><p>After the bell on Friday, electric vehicle maker Tesla (NASDAQ:TSLA) filed its preliminary proxy statement ahead of this year's annual meeting. As part of the filing, Tesla is looking to increase the number of authorized shares of common stock in an effort to execute a 3 for 1 stock split. With the stock having soared roughly two years ago around a previous stock split, investors may be hoping for large gains again. However, the situation is a lot different this time around.</p><p>Perhaps the most important item to look at here is market cap. When Tesla announced the 5 for 1 split back in August 2020, the closing market cap that day was about $256 billion. As of last Friday's close, the company was worth about $722 billion and that doesn't include the nearly 2% rally seen in the after-hours session. A market cap that's nearly three times what it was for the previous split obviously makes it harder for the stock to rally, because a given level of buying (say $1 billion) doesn't go as far this time around.</p><p>Also, the stock's float as a percentage of outstanding shares is about three percentage points higher this year than it was back in the summer of 2020. That means that there's a little more overall supply, and it's mostly due to Elon Musk's share sales from last year and earlier this year. Along the same lines, short interest in Tesla has dropped considerably over the last two years as seen in the chart below.</p><p><img src=\"https://static.tigerbbs.com/126fd9fd7080abb1c2a2e17a77d83a5a\" tg-width=\"640\" tg-height=\"345\" referrerpolicy=\"no-referrer\"/></p><p>Tesla Short Interest (NASDAQ)</p><p>The number of shares short is down almost 54% since Tesla announced its stock split back in 2020. At the same time, the number of outstanding shares is up more than 105 million (on a split-adjusted basis), or 11.2%, while the float is up more than 15% since then. As a result, short interest as a percentage of the float has gone from more than 8% at the end of July 2020 to just 3.2% now. This significantly reduces the chances of a short squeeze happening. Back then, those betting against the stock might have been caught off guard a bit by the 2020 split, thus needing to cover which helped a little bit in the large rally.</p><p>Some investors may also be looking at the entire rally in 2020 and be attributing it to the split. As the chart below shows, Tesla shares did move nicely higher on the split news, but that wasn't the most important news item of the year. The major rally came later in 2020after Tesla gained inclusion to the S&P 500 Index, which sparked a tremendous amount of buying. As it became more clear throughout the year that Tesla was about to meet the criteria to enter the index, part of the buying that occurred around the split may have been lumped in with S&P inclusion speculation. There is no major catalyst like that this time around.</p><p><img src=\"https://static.tigerbbs.com/39c209a9acc5030c978c15f071e926ae\" tg-width=\"640\" tg-height=\"273\" referrerpolicy=\"no-referrer\"/></p><p>Tesla 2020 Chart (Yahoo! Finance)</p><p>Another major item to look at is where Tesla was as a company back then. The previous stock split was announced just a few weeks after management reported a 5% year over year revenue decline for its Q2 period. With the Fremont factory shut down for a good portion of the quarter and Shanghai in its early Model 3 ramp, Tesla's results were significantly pressured. While a new round of Covid shutdowns will hurt this year's Q2, I don't think even the most bearish person out there thinks we'll see anywhere close to a 5% year over year revenue decline. Back then, people were worried about businesses just surviving, and Tesla ended up raising $10 billion in capital later that year.</p><p>Another major reason this time is much different is in central bank and fiscal policy. Back in 2020, the Fed was expanding its balance sheet by trillions of dollars and governments were handing out stimulus checks to bolster economies. Today, central banks are now raising rates, like the Fed is expected to do again this week, with quantitative tightening about to start bringing the Fed's balance sheet down by hundreds of billions of dollars this year. Speculative stocks were skyrocketing back then, and you had firms like Ark Invest with massive inflows increasing their Tesla holdings by the day. Cathie Wood's firm has lost a significant amount of its net assets since then and its Tesla position has shrunk considerably as seen in the chart below partially due to redemptions but mostly because of allocation selling.</p><p><img src=\"https://static.tigerbbs.com/fec9c42a70c6ce80bf7fd217040b399e\" tg-width=\"640\" tg-height=\"248\" referrerpolicy=\"no-referrer\"/></p><p>Ark Invest Active ETF Tesla Holdings (Ark Invest)</p><p>The final item is one that could be a bit of a wildcard this time around. Elon Musk is trying to acquire Twitter (TWTR), although the pending deal is in question due to how many bots are actually on the social media site. Should Twitter's board try to force Elon to pay the agreed upon $54.20 price and some of Elon's backers drop out, he might need to sell millions more of his Tesla shares to finance the acquisition. This issue has provided a bit of an overhang on the EV maker in recent months, and we could be getting much closer to some real fireworks surrounding this major purchase as we get closer to the stock split.</p><p>Tesla is proposing an increase in its authorized share count, so the stock can undergo a 3 for 1 split, but this isn't the same situation as 2020. The EV maker has a much larger market cap this time around, combined with much lower short interest, and investors don't have the major S&P 500 inclusion catalyst to help out. The business is also in a much better place than the summer of 2020 when it was reporting revenue declines and in need of a capital infusion. Finally, the overall market is in a completely different spot, going from a time of extremely easy money policy to one where the Fed is tightening things up quickly in an effort to combat high inflation. While Tesla shares might respond positively if a split does occur later this year, investors looking for significant returns again due to this singular catalyst will likely be disappointed.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: This Split Is Different</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: This Split Is Different\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 23:01 GMT+8 <a href=https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryCompany files for a 3 for 1 stock split at the annual meeting.Investors looking for a major rally may be disappointed.This is a very different Tesla than we saw in 2020.After the bell on Friday...</p>\n\n<a href=\"https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118010961","content_text":"SummaryCompany files for a 3 for 1 stock split at the annual meeting.Investors looking for a major rally may be disappointed.This is a very different Tesla than we saw in 2020.After the bell on Friday, electric vehicle maker Tesla (NASDAQ:TSLA) filed its preliminary proxy statement ahead of this year's annual meeting. As part of the filing, Tesla is looking to increase the number of authorized shares of common stock in an effort to execute a 3 for 1 stock split. With the stock having soared roughly two years ago around a previous stock split, investors may be hoping for large gains again. However, the situation is a lot different this time around.Perhaps the most important item to look at here is market cap. When Tesla announced the 5 for 1 split back in August 2020, the closing market cap that day was about $256 billion. As of last Friday's close, the company was worth about $722 billion and that doesn't include the nearly 2% rally seen in the after-hours session. A market cap that's nearly three times what it was for the previous split obviously makes it harder for the stock to rally, because a given level of buying (say $1 billion) doesn't go as far this time around.Also, the stock's float as a percentage of outstanding shares is about three percentage points higher this year than it was back in the summer of 2020. That means that there's a little more overall supply, and it's mostly due to Elon Musk's share sales from last year and earlier this year. Along the same lines, short interest in Tesla has dropped considerably over the last two years as seen in the chart below.Tesla Short Interest (NASDAQ)The number of shares short is down almost 54% since Tesla announced its stock split back in 2020. At the same time, the number of outstanding shares is up more than 105 million (on a split-adjusted basis), or 11.2%, while the float is up more than 15% since then. As a result, short interest as a percentage of the float has gone from more than 8% at the end of July 2020 to just 3.2% now. This significantly reduces the chances of a short squeeze happening. Back then, those betting against the stock might have been caught off guard a bit by the 2020 split, thus needing to cover which helped a little bit in the large rally.Some investors may also be looking at the entire rally in 2020 and be attributing it to the split. As the chart below shows, Tesla shares did move nicely higher on the split news, but that wasn't the most important news item of the year. The major rally came later in 2020after Tesla gained inclusion to the S&P 500 Index, which sparked a tremendous amount of buying. As it became more clear throughout the year that Tesla was about to meet the criteria to enter the index, part of the buying that occurred around the split may have been lumped in with S&P inclusion speculation. There is no major catalyst like that this time around.Tesla 2020 Chart (Yahoo! Finance)Another major item to look at is where Tesla was as a company back then. The previous stock split was announced just a few weeks after management reported a 5% year over year revenue decline for its Q2 period. With the Fremont factory shut down for a good portion of the quarter and Shanghai in its early Model 3 ramp, Tesla's results were significantly pressured. While a new round of Covid shutdowns will hurt this year's Q2, I don't think even the most bearish person out there thinks we'll see anywhere close to a 5% year over year revenue decline. Back then, people were worried about businesses just surviving, and Tesla ended up raising $10 billion in capital later that year.Another major reason this time is much different is in central bank and fiscal policy. Back in 2020, the Fed was expanding its balance sheet by trillions of dollars and governments were handing out stimulus checks to bolster economies. Today, central banks are now raising rates, like the Fed is expected to do again this week, with quantitative tightening about to start bringing the Fed's balance sheet down by hundreds of billions of dollars this year. Speculative stocks were skyrocketing back then, and you had firms like Ark Invest with massive inflows increasing their Tesla holdings by the day. Cathie Wood's firm has lost a significant amount of its net assets since then and its Tesla position has shrunk considerably as seen in the chart below partially due to redemptions but mostly because of allocation selling.Ark Invest Active ETF Tesla Holdings (Ark Invest)The final item is one that could be a bit of a wildcard this time around. Elon Musk is trying to acquire Twitter (TWTR), although the pending deal is in question due to how many bots are actually on the social media site. Should Twitter's board try to force Elon to pay the agreed upon $54.20 price and some of Elon's backers drop out, he might need to sell millions more of his Tesla shares to finance the acquisition. This issue has provided a bit of an overhang on the EV maker in recent months, and we could be getting much closer to some real fireworks surrounding this major purchase as we get closer to the stock split.Tesla is proposing an increase in its authorized share count, so the stock can undergo a 3 for 1 split, but this isn't the same situation as 2020. The EV maker has a much larger market cap this time around, combined with much lower short interest, and investors don't have the major S&P 500 inclusion catalyst to help out. The business is also in a much better place than the summer of 2020 when it was reporting revenue declines and in need of a capital infusion. Finally, the overall market is in a completely different spot, going from a time of extremely easy money policy to one where the Fed is tightening things up quickly in an effort to combat high inflation. While Tesla shares might respond positively if a split does occur later this year, investors looking for significant returns again due to this singular catalyst will likely be disappointed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9041517356,"gmtCreate":1656073347175,"gmtModify":1676535762807,"author":{"id":"3556189699543799","authorId":"3556189699543799","name":"meowmeowcat","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556189699543799","idStr":"3556189699543799"},"themes":[],"htmlText":"Meow","listText":"Meow","text":"Meow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9041517356","repostId":"1142629227","repostType":4,"repost":{"id":"1142629227","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1656071189,"share":"https://ttm.financial/m/news/1142629227?lang=&edition=fundamental","pubTime":"2022-06-24 19:46","market":"us","language":"en","title":"Bally's to Pursue $190 Mln Tender Offer for Its Shares","url":"https://stock-news.laohu8.com/highlight/detail?id=1142629227","media":"Tiger Newspress","summary":"Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified \"Dutch auction\" te","content":"<html><head></head><body><p>Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified "Dutch auction" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.</p><p>Bally's shares jumped 7% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/26780c235df80db7e7a8bc1b9c4c60e3\" tg-width=\"872\" tg-height=\"616\" width=\"100%\" height=\"auto\"/></p><p>Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.</p><p>When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.</p><p>Standard RI Ltd. ("Standard General"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.</p><p>Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.</p><p>Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.</p><p>The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.</p><p>This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bally's to Pursue $190 Mln Tender Offer for Its Shares</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBally's to Pursue $190 Mln Tender Offer for Its Shares\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-24 19:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified "Dutch auction" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.</p><p>Bally's shares jumped 7% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/26780c235df80db7e7a8bc1b9c4c60e3\" tg-width=\"872\" tg-height=\"616\" width=\"100%\" height=\"auto\"/></p><p>Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.</p><p>When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.</p><p>Standard RI Ltd. ("Standard General"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.</p><p>Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.</p><p>Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.</p><p>The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.</p><p>This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BALY":"Bally Corp"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142629227","content_text":"Bally's Corporation (NYSE: BALY) today announced that it has commenced a modified \"Dutch auction\" tender offer to purchase its common shares for cash at a price per share of not less than $19.25 nor greater than $22.00 for a maximum aggregate purchase price of no more than $190 million. The tender offer begins today and will expire at 12:00 midnight, New York City time, at the end of the day on July 22, 2022, unless extended or earlier terminated by Bally's.Bally's shares jumped 7% in premarket trading.Bally's board of directors determined that Bally's should pursue a $190 million tender offer in light of recent capital markets changes. Bally's currently expects to return capital to shareholders in the future, including through its previously announced $350 million capital return program.When the tender offer expires, Bally's will determine the lowest price per share within the range specified above that will enable it to purchase the maximum number of its common shares having an aggregate purchase price not exceeding $190 million. All shares accepted in the tender offer will be purchased at the same price, which may be higher or lower than the market price immediately prior to or during the tender offer. If the tender offer is fully subscribed, then common shares representing between 16.4% to 18.8% of Bally's issued and outstanding shares will be purchased, depending on the purchase price payable in the tender offer. Bally's intends to fund the purchase of shares and to pay the fees and expenses in connection with the offer with cash on hand and existing financial resources, including, if necessary, borrowings under its revolving credit facility.Standard RI Ltd. (\"Standard General\"), which beneficially owns 21.7% of Bally's outstanding common shares, and Bally's directors and executive officers have informed Bally's that they have not determined as of the date of the offer whether or not to tender any of their shares. However, to enable greater transparency and provide other shareholders with greater influence in determining the ultimate purchase price (if Standard General, the directors or executive officers elect to participate), Standard General, the directors and executive officers have informed Bally's that they will notify Bally's whether or not they intend to tender shares into the offer no later than six business days prior to the expiration time of the offer. Bally's will make a public announcement of such notification.Bally's board of directors has authorized the tender offer, but none of the board of directors, Bally's, the dealer managers, the information agent or the depositary or any of their affiliates have made, and they are not making, any recommendation to shareholders as to whether shareholders should tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. Bally's has also not authorized any person to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which they will tender their shares. In so doing, shareholders should read carefully the information in, or incorporated by reference in, the offer to purchase and in the letter of transmittal, including the purpose and effects of the tender offer. Shareholders are urged to discuss their decision with their own tax, financial and legal advisors.Goldman Sachs & Co. LLC is acting as the lead dealer manager for the tender offer and Capital One Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as the co-dealer managers. MacKenzie Partners, Inc. is serving as the information agent and American Stock Transfer & Trust Company, LLC is acting as the depositary.The offer to purchase, the related letter of transmittal and the other tender offer materials will be mailed to Bally's shareholders shortly after commencement of the tender offer. Shareholders should read these materials carefully when they become available because they will contain important information, including the terms and conditions of the tender offer. Shareholders of Bally's may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase and other documents that Bally's is filing with the SEC from the SEC's website atwww.sec.gov. Requests for documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll free) ortenderoffer@mackenziepartners.com. Questions regarding the tender offer may be directed to Goldman Sachs & Co. LLC at (800) 323-5678 (toll free), Capital One Securities, Inc. at (646) 927-5128, Truist Securities, Inc. at (855) 382-6151 (toll free) or Wells Fargo Securities, LLC at (833) 690-2713.This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is only being made pursuant to the terms of the offer to purchase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055966547,"gmtCreate":1655226071889,"gmtModify":1676535589717,"author":{"id":"3556189699543799","authorId":"3556189699543799","name":"meowmeowcat","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556189699543799","idStr":"3556189699543799"},"themes":[],"htmlText":"Nicr","listText":"Nicr","text":"Nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055966547","repostId":"1118010961","repostType":4,"repost":{"id":"1118010961","pubTimestamp":1655218875,"share":"https://ttm.financial/m/news/1118010961?lang=&edition=fundamental","pubTime":"2022-06-14 23:01","market":"us","language":"en","title":"Tesla: This Split Is Different","url":"https://stock-news.laohu8.com/highlight/detail?id=1118010961","media":"Seeking Alpha","summary":"Finance)Another major item to look at is where Tesla was as a company back then. The","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Company files for a 3 for 1 stock split at the annual meeting.</li><li>Investors looking for a major rally may be disappointed.</li><li>This is a very different Tesla than we saw in 2020.</li></ul><p>After the bell on Friday, electric vehicle maker Tesla (NASDAQ:TSLA) filed its preliminary proxy statement ahead of this year's annual meeting. As part of the filing, Tesla is looking to increase the number of authorized shares of common stock in an effort to execute a 3 for 1 stock split. With the stock having soared roughly two years ago around a previous stock split, investors may be hoping for large gains again. However, the situation is a lot different this time around.</p><p>Perhaps the most important item to look at here is market cap. When Tesla announced the 5 for 1 split back in August 2020, the closing market cap that day was about $256 billion. As of last Friday's close, the company was worth about $722 billion and that doesn't include the nearly 2% rally seen in the after-hours session. A market cap that's nearly three times what it was for the previous split obviously makes it harder for the stock to rally, because a given level of buying (say $1 billion) doesn't go as far this time around.</p><p>Also, the stock's float as a percentage of outstanding shares is about three percentage points higher this year than it was back in the summer of 2020. That means that there's a little more overall supply, and it's mostly due to Elon Musk's share sales from last year and earlier this year. Along the same lines, short interest in Tesla has dropped considerably over the last two years as seen in the chart below.</p><p><img src=\"https://static.tigerbbs.com/126fd9fd7080abb1c2a2e17a77d83a5a\" tg-width=\"640\" tg-height=\"345\" referrerpolicy=\"no-referrer\"/></p><p>Tesla Short Interest (NASDAQ)</p><p>The number of shares short is down almost 54% since Tesla announced its stock split back in 2020. At the same time, the number of outstanding shares is up more than 105 million (on a split-adjusted basis), or 11.2%, while the float is up more than 15% since then. As a result, short interest as a percentage of the float has gone from more than 8% at the end of July 2020 to just 3.2% now. This significantly reduces the chances of a short squeeze happening. Back then, those betting against the stock might have been caught off guard a bit by the 2020 split, thus needing to cover which helped a little bit in the large rally.</p><p>Some investors may also be looking at the entire rally in 2020 and be attributing it to the split. As the chart below shows, Tesla shares did move nicely higher on the split news, but that wasn't the most important news item of the year. The major rally came later in 2020after Tesla gained inclusion to the S&P 500 Index, which sparked a tremendous amount of buying. As it became more clear throughout the year that Tesla was about to meet the criteria to enter the index, part of the buying that occurred around the split may have been lumped in with S&P inclusion speculation. There is no major catalyst like that this time around.</p><p><img src=\"https://static.tigerbbs.com/39c209a9acc5030c978c15f071e926ae\" tg-width=\"640\" tg-height=\"273\" referrerpolicy=\"no-referrer\"/></p><p>Tesla 2020 Chart (Yahoo! Finance)</p><p>Another major item to look at is where Tesla was as a company back then. The previous stock split was announced just a few weeks after management reported a 5% year over year revenue decline for its Q2 period. With the Fremont factory shut down for a good portion of the quarter and Shanghai in its early Model 3 ramp, Tesla's results were significantly pressured. While a new round of Covid shutdowns will hurt this year's Q2, I don't think even the most bearish person out there thinks we'll see anywhere close to a 5% year over year revenue decline. Back then, people were worried about businesses just surviving, and Tesla ended up raising $10 billion in capital later that year.</p><p>Another major reason this time is much different is in central bank and fiscal policy. Back in 2020, the Fed was expanding its balance sheet by trillions of dollars and governments were handing out stimulus checks to bolster economies. Today, central banks are now raising rates, like the Fed is expected to do again this week, with quantitative tightening about to start bringing the Fed's balance sheet down by hundreds of billions of dollars this year. Speculative stocks were skyrocketing back then, and you had firms like Ark Invest with massive inflows increasing their Tesla holdings by the day. Cathie Wood's firm has lost a significant amount of its net assets since then and its Tesla position has shrunk considerably as seen in the chart below partially due to redemptions but mostly because of allocation selling.</p><p><img src=\"https://static.tigerbbs.com/fec9c42a70c6ce80bf7fd217040b399e\" tg-width=\"640\" tg-height=\"248\" referrerpolicy=\"no-referrer\"/></p><p>Ark Invest Active ETF Tesla Holdings (Ark Invest)</p><p>The final item is one that could be a bit of a wildcard this time around. Elon Musk is trying to acquire Twitter (TWTR), although the pending deal is in question due to how many bots are actually on the social media site. Should Twitter's board try to force Elon to pay the agreed upon $54.20 price and some of Elon's backers drop out, he might need to sell millions more of his Tesla shares to finance the acquisition. This issue has provided a bit of an overhang on the EV maker in recent months, and we could be getting much closer to some real fireworks surrounding this major purchase as we get closer to the stock split.</p><p>Tesla is proposing an increase in its authorized share count, so the stock can undergo a 3 for 1 split, but this isn't the same situation as 2020. The EV maker has a much larger market cap this time around, combined with much lower short interest, and investors don't have the major S&P 500 inclusion catalyst to help out. The business is also in a much better place than the summer of 2020 when it was reporting revenue declines and in need of a capital infusion. Finally, the overall market is in a completely different spot, going from a time of extremely easy money policy to one where the Fed is tightening things up quickly in an effort to combat high inflation. While Tesla shares might respond positively if a split does occur later this year, investors looking for significant returns again due to this singular catalyst will likely be disappointed.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: This Split Is Different</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: This Split Is Different\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 23:01 GMT+8 <a href=https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryCompany files for a 3 for 1 stock split at the annual meeting.Investors looking for a major rally may be disappointed.This is a very different Tesla than we saw in 2020.After the bell on Friday...</p>\n\n<a href=\"https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4518154-tesla-tsla-split-is-different","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118010961","content_text":"SummaryCompany files for a 3 for 1 stock split at the annual meeting.Investors looking for a major rally may be disappointed.This is a very different Tesla than we saw in 2020.After the bell on Friday, electric vehicle maker Tesla (NASDAQ:TSLA) filed its preliminary proxy statement ahead of this year's annual meeting. As part of the filing, Tesla is looking to increase the number of authorized shares of common stock in an effort to execute a 3 for 1 stock split. With the stock having soared roughly two years ago around a previous stock split, investors may be hoping for large gains again. However, the situation is a lot different this time around.Perhaps the most important item to look at here is market cap. When Tesla announced the 5 for 1 split back in August 2020, the closing market cap that day was about $256 billion. As of last Friday's close, the company was worth about $722 billion and that doesn't include the nearly 2% rally seen in the after-hours session. A market cap that's nearly three times what it was for the previous split obviously makes it harder for the stock to rally, because a given level of buying (say $1 billion) doesn't go as far this time around.Also, the stock's float as a percentage of outstanding shares is about three percentage points higher this year than it was back in the summer of 2020. That means that there's a little more overall supply, and it's mostly due to Elon Musk's share sales from last year and earlier this year. Along the same lines, short interest in Tesla has dropped considerably over the last two years as seen in the chart below.Tesla Short Interest (NASDAQ)The number of shares short is down almost 54% since Tesla announced its stock split back in 2020. At the same time, the number of outstanding shares is up more than 105 million (on a split-adjusted basis), or 11.2%, while the float is up more than 15% since then. As a result, short interest as a percentage of the float has gone from more than 8% at the end of July 2020 to just 3.2% now. This significantly reduces the chances of a short squeeze happening. Back then, those betting against the stock might have been caught off guard a bit by the 2020 split, thus needing to cover which helped a little bit in the large rally.Some investors may also be looking at the entire rally in 2020 and be attributing it to the split. As the chart below shows, Tesla shares did move nicely higher on the split news, but that wasn't the most important news item of the year. The major rally came later in 2020after Tesla gained inclusion to the S&P 500 Index, which sparked a tremendous amount of buying. As it became more clear throughout the year that Tesla was about to meet the criteria to enter the index, part of the buying that occurred around the split may have been lumped in with S&P inclusion speculation. There is no major catalyst like that this time around.Tesla 2020 Chart (Yahoo! Finance)Another major item to look at is where Tesla was as a company back then. The previous stock split was announced just a few weeks after management reported a 5% year over year revenue decline for its Q2 period. With the Fremont factory shut down for a good portion of the quarter and Shanghai in its early Model 3 ramp, Tesla's results were significantly pressured. While a new round of Covid shutdowns will hurt this year's Q2, I don't think even the most bearish person out there thinks we'll see anywhere close to a 5% year over year revenue decline. Back then, people were worried about businesses just surviving, and Tesla ended up raising $10 billion in capital later that year.Another major reason this time is much different is in central bank and fiscal policy. Back in 2020, the Fed was expanding its balance sheet by trillions of dollars and governments were handing out stimulus checks to bolster economies. Today, central banks are now raising rates, like the Fed is expected to do again this week, with quantitative tightening about to start bringing the Fed's balance sheet down by hundreds of billions of dollars this year. Speculative stocks were skyrocketing back then, and you had firms like Ark Invest with massive inflows increasing their Tesla holdings by the day. Cathie Wood's firm has lost a significant amount of its net assets since then and its Tesla position has shrunk considerably as seen in the chart below partially due to redemptions but mostly because of allocation selling.Ark Invest Active ETF Tesla Holdings (Ark Invest)The final item is one that could be a bit of a wildcard this time around. Elon Musk is trying to acquire Twitter (TWTR), although the pending deal is in question due to how many bots are actually on the social media site. Should Twitter's board try to force Elon to pay the agreed upon $54.20 price and some of Elon's backers drop out, he might need to sell millions more of his Tesla shares to finance the acquisition. This issue has provided a bit of an overhang on the EV maker in recent months, and we could be getting much closer to some real fireworks surrounding this major purchase as we get closer to the stock split.Tesla is proposing an increase in its authorized share count, so the stock can undergo a 3 for 1 split, but this isn't the same situation as 2020. The EV maker has a much larger market cap this time around, combined with much lower short interest, and investors don't have the major S&P 500 inclusion catalyst to help out. The business is also in a much better place than the summer of 2020 when it was reporting revenue declines and in need of a capital infusion. Finally, the overall market is in a completely different spot, going from a time of extremely easy money policy to one where the Fed is tightening things up quickly in an effort to combat high inflation. While Tesla shares might respond positively if a split does occur later this year, investors looking for significant returns again due to this singular catalyst will likely be disappointed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
