Fanatics acquires Topps buying and selling playing cards for $500 million

Topps’ 2016 season baseball cards will be displayed during an event in New York City.

Kris Connor | Getty Images

Michael Rubin’s e-commerce company Fanatics has acquired Topps trading cards, sources close to the deal confirmed to CNBC Monday evening.

The terms of the deal weren’t available, but industry circles put the deal at around $ 500 million. It will only include Topps’ name and sports and entertainment division, not the company’s candy and gift card line, a source said.

Fanatics and Topps declined to comment, but an announcement is expected on Tuesday.

The deal comes after Fanatics acquired Major League Baseball trading card rights last august. The MLB extended its contract with Topps in 2018 and the existing contract ends in 2025. But with this agreement Fanatics immediately receives the trading card rights from MLB.

Fanatics will also receive rights to Major League Soccer, UEFA, Bundesliga and Formula 1. These leagues also have active agreements with Topps.

And last year Fanatics secured trading card licenses for the National Football League Players Association and the National Basketball Association. In order to maintain these agreements, Fanatics provided equity capital to the leagues and player unions that is guaranteed to generate at least $ 1 billion in revenue over the duration of the partnerships.

Straight to the consumer model

Fanatics who reached one Valuation of $ 18 billion in 2021, wants to further expand the trading card business via direct-to-consumer commerce. For example, when collectors buy a trading card, they can insure, value, store, and even list the asset on a marketplace for sale or trade through Fanatics.

The company plans to capitalize on a sports trading card business that is expected to reach $ 98.7 billion by 2027, according to Verified Market Research.

The Topps acquisition is also in line with Fanatics’ plans to expand its NFT collectibles sector through its Candy Digital company, which owns the exclusive rights to produce MLB digital artwork.

Last year, Topps was valued at $ 1.3 billion as part of a SPAC merger Mudrick Capital Acquisition Corp. II, which fell apart after Topps lost his MLB rights.

Topps was a publicly traded company before it was privatized in 2007 after a $ 385 million deal. Founded in 1938, the company was best known for selling trading cards, including the 1952 Mickey Mantle card, one of which sold for $ 5.2 million in January 2021.

Satellite tv for pc imagery firm Planet begins buying and selling on the NYSE

An image from one of the company’s satellites shows Lower Manhattan in New York City.

planet

Satellite imagery and data specialist planet began trading Wednesday on the New York Stock Exchange, becoming the latest space company to go public after closing a SPAC deal.

Planet trades under the ticker PL, with shares previously listed under the special purpose acquisition company dMY Technology Group IV. The company has about 190 satellites in orbit, and recently unveiled plans for a new line of satellites called Pelican to further bolster its fleet.

The stock rose 1% after opening at $ 11.25 a share.

Closing its merger nets Planet more than $ 590 million in gross proceeds, with capital from dMY as well as a PIPE round – or private investment in public equity – led by BlackRock and joined by Google, Cook, and Marc Benioff’s TIME Ventures.

Planet and dMY closed the merger with a 2% redemption ratio, which represents the percentage of shares that investors redeem prior to closing of an acquisition.

Cofounder and CEO Will Marshall

planet

Planet took the additional step of registering as a Public Benefit Corporation, or PBC, which requires the company have a specific purpose statement on how the for-profit entity is benefiting the public. Planet’s public benefit purpose is “to accelerate humanity to a more sustainable, secure and prosperous world by illuminating environmental and social change,” the company said.

The company’s imagery feeds into a data index that Planet says makes the Earth “searchable” for its more than 600 customers. Planet’s customer contracts are set up as subscriptions, with 90% of those recurring annual contracts. Its existing customers are largely split between four sectors – civil, agriculture, defense and intelligence, and mapping – and it generated $ 113 million in revenue last year.

Planet aims to be profitable on an adjusted EBITDA basis by early 2025, and grow its annual revenue to nearly $ 700 million by early 2026.

It joins a trend of space companies going public through SPAC deals, with Virgin Galactic the first of the recent generation in 2019. Several have closed and begun trading – including Astra, AST SpaceMobile, Rocket Lab, Spire Global, BlackSky, Momentus, and Redwire – with others having merger agreements in place – including Virgin Orbit , Satellogic, and Terran orbital.

Mattress Tub & Past shares soar greater than 80% in after-hours buying and selling

Shoppers exit a Bed Bath & Beyond store in New York.

Michael Nagel | Bloomberg | Getty Images

Bed bath in addition Shares rose more than 70% in extended trading Tuesday after the retailer released a spate of news releases.

News the company announced included the launch of a digital marketplace that will sell third-party goods in addition to working with a grocery chain Kroger. Bed Bath & Beyond also said it The share buyback program was ahead of schedule and resulted in some management changes.

But the sharp post-market surge was likely fueled by what was known as a short squeeze, which forced hedge funds that had bet against the stock to buy back their stocks and reduce their losses.

Bed Bath & Beyond was among the most heavily shorted stocks in the country, accounting for 27% of the stocks available for trading. That’s the third-highest among the 1,500 largest US stocks, according to FactSet.

There was also a huge surge in mentions on Reddit after the bell, according to Sentiment Tracker Swaggy stocks. Bed Bath & Beyond was a meme favorite earlier this year, joining people like GameStop and AMC entertainmentbefore falling out of favor as the retail movement lost some of its momentum.

Bed Bath & Beyond shares rose 9.6% to $ 16.75 during regular trading on Tuesday. Shares rose dramatically in high volume after-hours trading.

Seymour Asset Management founder Tim Seymour told CNBCs “Quick money“That Bed Bath & Beyond shares were driven by the interest of newer and non-traditional investors.

“There are a number of these broken companies out there finding ways to reinvent themselves,” he said, referring to the volatile stock trading based on Reddit messaging boards. “Whether some of these companies are [reinventing themselves] or not, the capital markets allow them to get there and find out later. And that was one of the big stories of 2021. “

What Bed Bath & Beyond announced

After years of poor sales growth, Bed Bath & Beyond seeks to revitalize its business under CEO Mark Tritton. He has tried to streamline his business, close underperforming stores, and introduce private label products in hopes of offering buyers products they can only find in his stores.

The company said Tuesday it would create a digital marketplace to build a bigger presence on the internet. It gave only a few more details about when the platform would launch and how exactly it would work.

“Marketplace is another example of how we are further redefining our business model,” Tritton said in a statement. “We are developing new ways for long-term profitable growth so that we can organically expand our existing expertise in the home and baby categories.”

Separately it said Kroger – the country’s largest supermarket chain – will begin selling some of Bed Bath and Beyond’s household and baby products on their website and in selected stores as part of a pilot project from 2022.

A Kroger spokeswoman said the number of deals will be announced at a later date, along with more details.

Bed Bath & Beyond has also named Anu Gupta as Chief Growth Officer, a newly created position. She was previously the Chief Strategy and Transformation Officer of Bed Bath & Beyond.

The company also brought on Rafeh Masood as Chief Customer Officer, another newly created position. Masood was previously Chief Digital Officer and Interim Chief Brand Officer of Bed Bath & Beyond.

Both appointments are effective immediately and will report to Tritton.

Bed Bath & Beyond also said that it is expected to a $ 1 billion share buyback plan by the end of the 2021 financial year, two years earlier than planned.

Positive developments

Neil Saunders, Managing Director of GlobalData Retail, said the Bed Bath announcements were positive developments.

“Anything to do with the terms ‘marketplace’ and ‘digital sales’ and the like tends to have a very positive effect on inflation,” he said. However, he added that the company has lagged behind its competitors and is struggling to refresh its brand.

Saunders also said household goods sales are poised to slow down after spiking during the pandemic. The sticker shock inflation inflation consumers are taking is likely to put further pressure on the category, as is the desire to get back to spending money on travel and restaurants.

“I can see why they are increasing. Why they are increasing this order of magnitude is a bit of a mystery,” he said. “But a lot of things about Wall Street and stock movements are a mystery. Sometimes it’s irrational movements.”

What model fits me finest for foreign currency trading

Finding a trading style that works for you and suits you as a retailer is important when trading any market, not just forex. Success is rarely found in trading by 100% copying what someone else is doing and not going through the process to understand which trading style suits you best. The reason for this is that there are many variables that go into a trading methodology and style, to name a few:

  • How much time do you have to trade on a given day / week / month? And when are you available for trading?

  • How much capital do you have and what is your position on risk?

  • What is your experience and which approach makes sense for you?

  • What markets do you trade in?

  • What are your goals?

  • Where are you in the world and what is the regulation?

The answers to these questions will be different for most traders, and so their style and approach must be different too. If you are trading a style that works for someone who has 2 hours to trade at the beginning of each day and you only have 30 minutes at the end of the day, then the approach probably won’t work for you. If you are trading a style that works for someone who has more than $ 25,000 in their account and you have a lot less than that, then the approach probably won’t work for you. But that doesn’t mean that other approaches may not work for you.

The beauty of trading is that there are so many ways to be profitable. You can combine the variables that work for you in the right way and still find an approach that can work with them. The mistake most forex traders (and traders in general) make is trying to adapt to a style they have learned rather than finding the style that already suits them.

When we speak of “style” when trading, we usually refer to the following:

  • Day trading.

  • Swing trading.

  • Position trading.

  • Invest.

No style is better than the other, no style is “more profitable” than the other, they work for different people based on the lifestyle, capital and personality of each person. It can be helpful to have a brief idea of ​​what the different trading styles can mean:

Different asset classes are better suited to specific styles. Forex is by far the largest asset class in the world – this makes it very diverse and allows us to leverage the moves in small to larger time frames and capitalize on almost any style. It also offers decent leverage, making it easier to trade with smaller accounts, which makes short-term trading more efficient (if you have a profitable strategy, of course!).

However, when thinking of day trading forex, here are some things to keep in mind:

  • There will always be a spread that can be small or large depending on the broker, and it can change depending on what is happening in the market.
    This means that if you are using very small time frames the spread could be detrimental to you as the smallest movement can mean the difference between a profit and a loss for you. This is less true when using larger time frames and therefore longer term styles.

  • Billions of dollars move through the currency markets every day and there are many players – from retail speculators to institutional traders to the governments, corporations and individuals involved in currency transactions. This means that there are many buy and sell orders going through these markets every day for many, many different reasons.
    This can make it harder to get right on smaller moves, and you have less leeway to go wrong.

  • The forex markets are open 5 days a week, so there is little or no risk of overnight gapping.
    This means that unlike stocks for example, you don’t have to get out at the end of the day, so there is nothing in forex mechanics that means you need to be day trading.

Of course there are profitable forex traders who are day trading, but in my experience it can be a little more difficult than having someone swing or position the trade or even invest in the forex markets.

By weighing your availability of time, how often you can act and how strict you can be with your timing, what your goals are and who you are as a person, this should guide you towards the style that works best for you. Then you have to adapt your methodology accordingly, be it through changed time frames, different risk management rules, etc.

Ultimately, it is not the trading style alone that determines the likelihood of success, but how it relates to you as an individual and a trader. Pursuing the style that suits you best, whatever style is most likely to bring you the success you want in your trading.

MLB will finish 70-year cope with buying and selling card firm Topps

Major League Baseball will abandon Topps as a trading card partner, ending a relationship that has existed since 1952.

Fanatics, the sportswear company, is set to get the trading card deal instead, according to two people familiar with the matter. Fanatics and MLB declined to comment.

The MLB extended their deal with Topps in 2018, and the existing deal ends in 2025. The MLB Players Association’s deal also aligns with the league, so the deal would end too.

The 1952 Topps Mickey Mantle Rookie Card from the Marshall Fogel collection arrives at the Rally Hotel in McGregor Square.

Matt Dirksen | Colorado Rockies | Getty Images Sports | Getty Images

In the agreement with Topps, MLB receives a license fee for products that are sold with its intellectual property. Baseball’s exit is a blow to Topps as the powerhouse announced last April that it would go public. The trading card company went with a SPAC merger. a Mudrick Capital Acquisition Corp. II, which is listed on the Nasdaq and valued Topps at $ 1.3 billion.

Topps was a publicly traded company before it was privatized in 2007 after a $ 385 million deal. Founded in 1938, the company became known for selling trading cards, including the 1952 Mickey Mantle card, which sold for $ 5.2 million last January. With the departure of the MLB, Topps is left with license agreements with leagues such as the Major League Soccer and the National Hockey League.

In the meantime, MLB will in some way turn to Fanatics to make physical trading cards. Fanatics plans to start a new trading card company and will give MLB and the MLB Players Association holdings in the company.

MLB already owns shares in Fanatics and recently sold its NFT rights to Candy Digital, which is owned by Fanatics. In addition, Fanatics already owns all of MLB’s e-commerce rights and is looking to expand its business outside of sports merchandising, including sports betting.

Earlier this month, Fanatics secured a $ 325 million raise to expand and is now valued at $ 18 billion.

House firm Momentus MNTS begins buying and selling on Nasdaq after SPAC

Artist’s impression of a Momentus Vigoride transfer vehicle sending satellites in orbit.

Momentum

Space company Momentum Debuted on the Nasdaq on Friday, completing an almost year-long and turbulent merger process that resulted in a new CEO and the departure of the founders.

“In terms of value to investors, I think we are well positioned to meet some big market trends,” Momentus CEO John Rood, who led the company on Aug. 1, told CNBC. “There is a need for what we offer.”

Momentus stock fell as much as 9% in trading from its previous closing price of $ 10.97 per share.

The company has its this week Merger with Stable Road Capital, a Purpose Acquisition Company, or SPAC. A SPAC raises money from investors through an IPO and then uses the money to buy a private company and take it public.

Momentus’ path to the public market has been fought on several fronts, with missions now being postponed until mid-2022 at the earliest. National security concerns over Russian co-founders, former CEOs Mikhail Kokorich and Lev Khasis, led both of them to sell their stake – in exchange for “about $ 40 million,” Rood said – and leave the company.

Momentus’ valuation was then cut in half, from $ 1.1 billion to $ 567 million. And then, last month, the firm and Stable Road settled the Securities and Exchange Commission’s charges that the companies misled investors and falsified the results of a 2019 prototype test, paying about $ 8 million in civil fines.

The company expected to have $ 310 million on its books after the SPAC merger to grow, but the complications of the process reduced that cash to about $ 150 million “to fund our operations,” Rood said .

“We think that gives us enough runway to do our extra development work, add staff and some of the other things we need to do,” said Rood.

Rood described Momentus as an “early stage technology company” as it is now testing a new variant of its water-based plasma motors called the Microwave Electrothermal Thruster. The company told CNBC that the longest single fire on any of these engines took 9.7 hours in a vacuum chamber during ground tests, “significantly longer than what we would expect for a single fire in orbit.”

The thruster is critical to Momentus’ business plan, which involves launching satellites from rockets into specific orbits using a spacecraft called the Vigoride. Consisting of a frame, a thruster, solar panels, avionics, and a series of satellite booms, the spacecraft is specifically designed for satellites that carry large rockets, an increasingly popular industry practice called ride sharing.

The company had planned to launch its first Vigoride mission earlier this year, but ongoing national security reviews resulted in the spacecraft being removed from SpaceX carpool launches. The delay has also caused Momentus to lose customers and its backlog to drop from $ 90 million to $ 66 million.

Kokorich

The former CEO Kokorich did allegedly left the country, and did not resolve the SEC’s charges against him.

“We have no business relationships with Mikhail Kokorich or the other founders of the company. In fact, our national security agreement with the Department of Defense prohibits that,” said Rood.

When asked if Momentus or anyone on his team has been communicating with Kokorich since he left, Rood said the conversations weren’t professional or technological.

“If they are [talking to Kokorich]”It’s social and we need to keep a record of it,” said Rood.

looking ahead

Artist’s impression of a Momentus Vigoride transfer vehicle deploying a satellite in orbit.

Momentum

While Momentus has revised its financial guidance, the company still has an ambitious target of more than $ 2 billion.

The company expects to be profitable on an EBITDA basis by 2024, a goal that Momentus will have to fly 26 missions this year. Rood said that while Momentus works to address the Pentagon’s concerns and acquire a launch license, it has built two Vigoride starships and will work on more once testing is complete.

“We are in the process of assembling, testing and qualifying additional Vigoride vehicles,” said Rood.

Momentus’ early missions will serve as both tests of Vigoride and transportation of satellites from paying customers, he noted. The company is reducing its prices for these customers.

“We’re trying to make it more attractive to customers early on,” said Rood.

Another key to Momentus’ success is the availability and cost of launches, with the former steadily increasing and the latter decreasing in recent years – largely due to the ridesharing Elon Musk’s SpaceX offers on its Falcon 9 rockets.

“We have an agreement with SpaceX and are at a stage … where we can get the go-ahead from the federal government for our launch licenses, then we can book a manifest on a SpaceX rocket and go with them. Said Rood.

The partnership with SpaceX is “very valuable and something we value,” added Rood. But Momentus can’t rely on just one means of getting into space, so Vigoride is designed to be “launch vehicle independent,” Rood said, and “there are other vendors we speak to.”

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Dave & Buster’s Leisure Inc. inventory outperforms market on sturdy buying and selling day

Dave & Buster’s Entertainment Inc.
PLAY, + 3.09%
rose 3.09% to $ 41.99 on Thursday in what turned out to be an all-round positive trading session for the stock market on the NASDAQ Composite Index
COMP, + 0.69%
Up 0.69% to 14,369.71 and the Dow Jones Industrial Average
DJIA, + 0.95%
increased by 0.95% to 34,196.82. Dave & Buster’s Entertainment Inc. closed $ 9.74 below its 52-week high ($ 51.73) the company hit on March 26th.

The stock outperformed some of its competitors on Thursday, including McDonald’s Corp.
MCD, + 0.04%
up 0.04% to $ 233.33, Chipotle Mexican Grill Inc.
CMG, + 2.33%
rose 2.33% to $ 1,489.22 and Starbucks Corp.
SBUX, + 0.39%
rose 0.39% to $ 111.99. The trading volume (1.2 million) remained 189,048 below its 50-day average volume of 1.4 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.

Dwell Nation Leisure Inc. inventory outperforms market on sturdy buying and selling day

Live Nation Entertainment Inc.
LYV, + 1.47%
rose 1.47% to $ 87.22 on Wednesday in what turned out to be an all-round gloomy trading session for the stock market, on the S&P 500 index
SPX, -0.54%
Down 0.54% to 4,223.70 and the Dow Jones Industrial Average
DJIA, -0.77%
Decrease of 0.77% to 34,033.67. The rise in the stock broke a two-day losing streak. Live Nation Entertainment Inc. closed $ 7.41 off its 52-week high ($ 94.63) the company hit on March 3.

The stock outperformed some of its competitors on Wednesday, including eBay Inc.
EBAY, + 0.20%
rose 0.20% to $ 66.09, World Wrestling Entertainment Inc. Cl A
WWE, -3.18%
fell 3.18% to $ 59.73 and MSG Networks Inc. Cl A
MSGN, + 0.71%
rose 0.71% to $ 15.66. The trading volume (996,805) remained 1.0 million below its 50-day average volume of 2.0 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.

Dave & Buster’s Leisure Inc. inventory outperforms market on sturdy buying and selling day

Dave & Buster’s Entertainment Inc.
PLAY, + 2.15%
rose 2.15% to $ 42.21 on Monday in what turned out to be an all-round mixed trading session for the stock market, on the NASDAQ Composite Index
COMP, + 0.49%
Up 0.49% to 13,881.72 and the Dow Jones Industrial Average
DJIA, -0.36%
Decrease by 0.36% to 34,630.24. This was the second consecutive day of earnings for the stock. Dave & Buster’s Entertainment Inc. closed $ 9.52 below its 52-week high ($ 51.73) the company hit on March 26th.

The stock outperformed some of its competitors on Monday, including McDonald’s Corp.
MCD, -0.72%
fell 0.72% to $ 231.69, Chipotle Mexican Grill Inc.
CMG, -0.23%
fell 0.23% to $ 1,323.26, and Starbucks Corp.
SBUX, -0.59%
fell 0.59% to $ 111.33. The trading volume (1.6 million) exceeded its 50-day average volume of 1.3 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.

Enthusiastic about buying and selling choices or inventory in AMC Leisure, Pfizer, Visa, Nio, or Normal Electrical?

NEW YORK, June 7, 2021 / PRNewswire / – InvestorsObserver issues critical PriceWatch Alerts for AMC, PFE, V, NIO, and GE.

Click a link below, then choose between a detailed options trading ideas report or a stock valuation report.

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