Post-Rosh Hashanah, Sell?

After the Jewish New Year I am taking a brief look at our stocks. They can lose traction during Jewish holidays, which are therefore bearish.

Jim Cramer is said to be leaving after 20 years. That is hard to believe.

•El Salvador's conversion to bitcoin today was a total flop, with the “legal tender” losing 17% before trading was halted. An odd rumor has it that the crypto flop was triggered by a $44 mn sales order in the Huobi exchange in the Seychelles, where there are stock markets with Jewish members. It seems unlikely that a Seychellian would have violated the Jewish New Year to kick crypto, but who knows?

•In Nuremberg at the EU auto conference Qualcomm revealed that it will supply dashboard electronic chips to Renault after it moved to acquire Veoneer, the Swedish car parts firm we sold too soon, for $4.6 bn. Qualcomm's CEO Cristiano Amon said he is aiming to cut EU dependence on chips from China and Taiwan.

Fibra Uno of Mexico, a REIT operating in office and retail sectors which fell after the earthquakes, turns out to not have suffered any damage to its properties, according to a note put out today by FBASF.

•Orbia, still trading as MXCHY, now a maker of drip feed systems, gained 22.12%. It only trades by appointment.

Nio, our electric vehicle pick in China, suffered a 6.8% loss today on the news that it is doing a secondary offering to raise $2 mn for general business purposes. Matters were not helped by a drop in Tesla stock as well. By the close NIO was only down 5.75%.


It is hard to predict, particularly about the future. Renewables energy firms like PLUG (Plug Power) gained sharply on hopes for hydrogen fuelled vehicles yesterday but fell back 3.35% today. Hyundi plans to make hydrogen fuelled cars..

•Also falling the day aftrer was Energy Fuels, UUUU, down 3.8%. Both were also boosted by a sharp rise in natural gas prices.

•However Cabot, which is doing a merger, today bought back a lot of its commercial paper debt and rose 3.66%. CBT is merging with another US energy firm, Cimarex.

The A's

•Investor's Intelligence in Britain switched its outlook for Antofagasta, ANFGF, to bullish in 0ne fell swoop today. It is one of my faves.

•Albemarle, a stock we added during my time in London, was upgraded from sell to buy today by Berenbergafter its last quarter eps beat the consensus forecast of 86 cents by 3 cents. ALB

•Aurinia jumped 5.02% after AUPH confirmed buying private drug firm Thunderbolt's immunity and kidney disease lines.

Other Letters

State Street Bank, a US back office and custody firm I own shares in, is buying Brown Brothers Harriman, an old shoe fund manager, for 3.5bn. STT fell just under 2% on the news.

Thermo Fisher Scientific today announced plans to establish a manufacturing facility in Nashville for single-use technologies (SUT) products. This investment is in addition to expansion in the bioprocessing market announced last week. The facility will be one of the world's largest SUT manufacturing sites and will more than double TMO's SUT manufacturing capacity in support of its biopharma customers. The first phase of construction will be operational by Q2 2022.

•Canadian aerospace training firm CAE gained about a half percent. It has been unexpectedly profitable.

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