TD Cowen analysts lowered their price target for Strategy shares on Wednesday, citing the volatility of the Bitcoin treasury leader's stock price and incremental shareholder dilution as key factors. The investment bank now sees Strategy’s shares hitting $500 next year, as opposed to its previous $535 per share estimate, according to a note shared with Decrypt. Strategy’s shares recently changed hands around $188, per Yahoo Finance, down about 24% over the last month. Earlier this week, Strategy signaled tha ...

Core Viewpoint - Lucid Group is facing significant challenges, including lower-than-expected deliveries and ongoing cash burn, which may dilute the potential gains from the upcoming Gravity SUV launch [1][5][12] Group 1: Delivery and Production Challenges - Lucid Group reported a total of 4,078 vehicle deliveries in the last quarter, marking a nearly 47% increase year-over-year, but this figure fell short of investor expectations [5] - The company is struggling to scale production and deliveries, failing to position itself as a competitor to Tesla, which holds a 43.1% market share in the U.S. EV market [4][5] - Concerns exist that EV buyers may have rushed purchases ahead of the expiration of the U.S. EV tax credit, potentially leading to decreased sales in upcoming quarters [6] Group 2: Financial Health and Cash Burn - Lucid's cash burn remains high, with net cash used in operating activities totaling $1.25 billion in the first half of 2025 [7] - The company relies heavily on its majority owner, the Public Investment Fund (PIF) of Saudi Arabia, which owns over 60% of Lucid and has been increasing its stake by purchasing newly issued equity and debt [8] - Recent funding from Uber Technologies, amounting to $300 million, may indicate a shift away from PIF's significant investments, suggesting Lucid will need to seek additional funding sources [9][10] Group 3: Future Prospects and Catalysts - Lucid is set to begin deliveries of the Gravity SUV next year, which could target a broader market and help the company achieve consistent profitability if successful [12] - However, the potential for shareholder dilution may overshadow the benefits of the Gravity launch, as further dilution could reduce the per-share value despite any increase in total company value [13] - The interim CEO indicated that the company's cash position will only last until the second half of 2026, necessitating further capital raises to extend operational viability [11]

Core Viewpoint - Beyond Meat Inc. experienced its largest stock decline since going public in 2019, dropping as much as 58% to 84.5 cents, following the announcement that nearly all creditors accepted a debt swap leading to significant shareholder dilution [1][2]. Group 1: Financial Impact - The company plans to issue 316 million new shares as part of the debt swap strategy aimed at reducing leverage, which has already negatively impacted stock prices [2]. - If all noteholders convert their notes, they would collectively own 88% of the company's stock, indicating a substantial shift in ownership dynamics [2]. Group 2: Market Performance - Beyond Meat is facing declining consumer demand for meat alternatives in the U.S., its primary market, with sales falling approximately 20% last quarter to $75 million [2]. - The stock had already decreased by 47% year-to-date prior to the recent announcement, reflecting ongoing challenges in the market [1].

Shareholder Dilution & Liquidity - Bitmine is diluting shareholders to infinity [1] - Someone needs to sell Bitmine 4 million ETH (Ethereum) over-the-counter (OTC) [1] - OTC desks are the exit liquidity for Bitmine [1]