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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

9/9/19

AT&T (T) worth $60 a share? Ma Bell is up 3% to a new 52 week high following a $3 billion investment from activist firm Elliott Management. Founder, Paul Singer sent a letter to AT&T asking for a bunch of changes that could unlock value, pushing the stock to a valuation closer to $60 a share or 50% above current levels. AT&T says they are looking forward to engaging with Elliott team and believe many of the actions outlined in the letter are already being executed today.

Revenge of the recent IPOs. Many of the IPOs from money losing companies are coming under pressure. The cannabis stocks have come under pressure since May. The ride sharing stocks, Uber and Lyft, are down over 30% in the last two months. Cloud security solutions company, Crowdstrike (CRWD) is down 10% today and down 30% in the last month. The company reported better than expected earnings and guidance last week, but with the comp any losing money and trading for 20 times next year's sales, investors are no longer willing to pay up for these recent IPOs.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.