Tag Archives: Jump

Shares of Rocket Companies, a large short target of hedge funds, jump more than 20%

The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021.

Tiffany Hagler-Geard | Bloomberg | Getty Images

Shares of Rocket Companies rallied more than 20% Tuesday in a surprising move on no apparent new news. The online mortgage provider currently has large short bets placed against it by hedge funds and appears to have garnered some bullish interest from day traders on Reddit’s infamous WallStreetBets.

Nearly 40% of its available shares are sold short and it is near the top of the list of U.S. companies in terms of size of short bet by hedge funds, according to FactSet. That makes it classic target by meme-obsessed investors, who have been storming together this year into shares and call options of heavily shorted companies in order to squeeze out short sellers. It was unclear of the size of the retail interest in Rocket at this time.

A number of popular posts on WallStreetBet chatroom featured Rocket on Tuesday. One says “I like RKT. $1.7M all-in, let’s gooo YOLO,” and it quickly drew more than 1,700 comments.

“It’s 38% short … When people see that, they think you can bust the sellers,” CNBC’s Jim Cramer said on “Squawk on the Street,” while adding he actually likes Rocket Companies’ management and business fundamentals. 

“I have been a huge fan of [CEO] Jay Farner and [Chairman] Dan Gilbert .. and frankly don’t understand why the stock did not react to what was a very good where they basically laid out a story that just said, ‘We can show how when rates go up, it has not hurt our business. When rates go down, it’s not hurt our business.'”

The surge in Rocket could be a sign that the retail trading mania seen in GameStop earlier this year is still a factor. A month ago, an army of retail investors on Reddit managed to push the brick-and-mortar video game retailer up 1,500% in two weeks, inflicting huge pain for short selling hedge funds. The broader market also experienced some spill-over impact from the frenzy as many big investors took down risk across the board.

When a stock with high short interest jumps sharply higher, it could force short sellers to cover their bearish positions in order to limit their losses. The short covering tends to fuel the stock’s rally further.

Rocket reported stronger-than-expected fourth-quarter earnings on Thursday, which impressed some Wall Street analysts. Wells Fargo raised its price target slightly and moved up its earnings estimate for Rocket following its big beat.

“We were impressed with Q4 earnings, particularly the resilience of their direct to consumer retail GOS margins,” Donald Fandetti, Wells analyst, said in a note on Monday. “RKT seems to be well positioned to take market share if the environment gets more dislocated from higher rates.”

— CNBC’s Kevin Stankiewicz contributed reporting.

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Mock Draft round up: Detroit Lions beat writers jump into the fray

With no NFL Combine in 2021, late February has become a bit of a dead news period for the league. And with free agency still a few weeks away, lots of writers have turned their attention to mock drafts—including six of the Lions beat writers.

Mock drafts in general shouldn’t be taken too seriously, but they can be used as a way for fans to familiarize themselves with some of the top players in this year’s draft class.

As we head towards the draft in late April, we will use mock draft round up articles to examine mock drafts from the week prior, discuss players, and identify patterns in how players are being connected to the Detroit Lions.

So far this offseason a few patterns have emerged. After the Lions season ended and the emptiness of their wide receiver depth chart was revealed, most mock drafts matched the Lions with one of the top-3 receivers available. When Matthew Stafford requested a trade, almost every mock draft shifted to strictly signal-callers. But now that the dust has settled on the Stafford for Jared Goff trade, prognosticators have begun to open their pairing back up and a variety of players are in play for Detroit.

Let’s take a look at the projections from this past week.

Trey Lance, QB, North Dakota State

Currently being mocked by Dave Birkett (Freep), Tyler Olsen (Pro Football Network)

Birkett: “Zach Wilson is a more polished prospect and will go ahead of (Trey) Lance. Justin Fields likely will, too. But when it comes to ceiling, when it comes to being the type of player you draft and look back at 15 years later and think how lucky you were, Lance is second only to Lawrence in his dreamy potential.”

Ja’Marr Chase, WR, LSU

Currently being mocked by Kyle Meinke (MLive), Ryan Wilson (CBS Sports), Tom Fornelli (CBS Sports), Ian Cummings (Pro Football Network), Kyle Yates (Fantasy Pros)

Wilson: “It would be a surprise if Detroit allowed Kenny Golladay to walk this offseason. However, even if he returns, the team needs to add others at the position. Ja’Marr Chase is still the best wide receiver in this draft and the Lions have the opportunity to pick him. Jared Goff begins his career in the NFC North with T.J. Hockenson, Kenny Golladay, Ja’Marr Chase and D’Andre Swift.”

DeVonta Smith, WR, Alabama

Currently being mocked by Ben Raven (MLive), Dan Kadar (Akron Beacon Journal), Vinnie Iyer (Sporting News), Brad Gagnon (Bleacher Report)

Raven: “The choice between DeVonta Smith and Alabama teammate Jaylen Waddle was more agonizing than expected. Smith enters the draft after turning in one of the most productive seasons ever for a college receiver. The Heisman winner caught 117 passes for 1,856 yards and 23 touchdowns. He torched Ohio State to the tune of 12 catches for 215 yards and three scores in two quarters in the CFP championship.”

Jaylen Waddle, WR, Alabama

Currently being mocked by Nate Davis (USA Today), Luke Easterling (Draft Wire), Ryan Wilson (CBS Sports), Doug Hyde (DraftTek)

Davis: “With new coach Dan Campbell admittedly looking beyond 2021 and maybe even 2022 as this team resets, it could make sense to be in “best player available mode” as opposed to immediately enlisting a successor for Goff. And a fair evaluation of the QB would entail having a No. 1 target on board – Waddle seems better suited to that role than slightly built Crimson Tide teammate DeVonta Smith – and Detroit could desperately need help with Kenny Golladay and Marvin Jones unsigned.”

Penei Sewell, OT, Oregon

Currently being mocked by Chris Burke and Nick Baumgardner (The Athletic)

It’s worth noting that Burke and Baumgardner are using a mock draft machine in this exercise and admitted Sewell falling to pick No. 7 would be surprising, but with him on the board…

Baumgardner: “Sewell feels like a potentially generational offensive line prospect who can potentially wear many hats. Knowing Campbell and Anthony Lynn’s desire to kick-start the run game, this would make sense. And it’d feel like a steal, if I’m honest, with how talented he is.”

Azeez Ojulari, JACK, Georgia

Currently being mocked by Chris Trapasso (CBS Sports)

Trapasso: “This is the highest you’ll probably see Ojulari. But I really believe he’s the super-explosive, bendy type of edge rusher who typically flies up boards during the pre-draft process.”

Micah Parsons, LB, Penn State

Currently being mocked by Mike O’Hara (DetroitLions.com), Mel Kiper (ESPN), Charlie Casserly (NFL.com), Brian Johannes (The Huddle Report), Anthony Treash (Pro Football Focus), Ben Rolfe (Pro Football Network)

O’Hara: “Linebacker was the Lions’ weakest position in 2020, and Parsons is a top 10 prospect with dynamic ability.”

It’s worth noting that Parsons is largely considered the best defensive player in this draft class and it’s why O’Hara, Casserly, Treash, and Rolfe had the Lions grabbing him at No. 7. But not everyone is sold on him as evidenced by Kiper and Johannes had the Lions trading down to 12 and 20 respectively as still being able to select him.

Jeremiah Owusu-Koramoah, LB, Notre Dame

Currently being mocked by Doug Farrar (Touchdown Wire)

Farrar: “You may also notice that I have a “linebacker” — Notre Dame’s Jeremiah Owusu-Koramoah — taken with the seventh overall pick. That may seem like an overdraft if you haven’t watched Owusu-Koramoah’s tape and you just go by the linebacker designation. After all, NFL teams played more dime than base in 2020, per Sports Info Solutions. But as was the case for Clemson’s Isaiah Simmons in 2020, Owusu-Koramoah transcends any positional designation. He is the very model of the modern versatile defender. Simmons was taken eighth overall by the Cardinals, and I think Owusu-Koramoah could be similarly coveted.”

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Dow Jones Today Slumps, Nasdaq Dives Ahead Of Powell Testimony; ZoomInfo, Nexstar Jump On Earnings

Tech stocks led the market into sharp early losses Tuesday, ahead of Senate testimony from Fed Chief Jerome Powell. The $1.9 trillion federal stimulus package moved forward in the House late Monday, helping to lift oil prices and some pandemic reopening plays. Earnings news ignited ZoomInfo, and sent Nexstar Media into a buy range. Meanwhile, Home Depot swung low on the Dow Jones today, following its fourth-quarter report.




X



The Nasdaq Composite unwound 3.5% at the starting bell as Baidu (BIDU) and Tesla (TSLA) dropped more than 11% each at the starting bell. The S&P 500 opened to a 1.4% loss. The Dow industrials shed more than 200 points, down 0.7%. Procter & Gamble (PG) topped the Dow Jones today, rising nearly 3%.

Etsy (ETSY), Tesla and Enphase Energy (ENPH) traded lowest among S&P 500 stocks. CBRE Group (CBRE) and Extra Storage (EXR) led, up more than 5% each on earnings news.

Earnings News: ZoomInfo Spikes, Nexstar Breaks Out

In earnings news, Nexstar Media Group (NXST) and IBD Leaderboard stock ZoomInfo (ZI) rose after reporting results late Monday.

ZoomInfo rallied more than 10% after topping analysts’ fourth-quarter revenue and earnings views late Monday. At least four analysts raised price targets on the stock early Tuesday. Piper Sandler weighed in at the top of the list with a 70 price target.  ZoomInfo stock has been volatile, reversing an 11% advance from a Feb. 3 breakout and diving back below the 53.18 buy point — as well as cutting support at its 21-day exponential moving average on Monday.

Technically, the pullback triggered a sell rule, but it stopped short of setting off the automatic stop-loss rule. Tuesday’s premarket action points to the stock retaking the buy point in early trade, a valid buy opportunity. But investors should be sure to mind the shifting status of the uptrend, especially before diving into volatile young stocks with recent initial public offerings.

Texas-based television broadcaster Nexstar Media Group popped 4.6% after its healthy fourth-quarter report. The move sent shares into a buy range above a 131.10 buy point in a 12-week ascending base. The buy range runs to 137.66.

Dow Jones Today: Home Depot Breaks Support

Home Depot (HD) crumbled 5% on the Dow Jones today, despite reporting a strong fourth-quarter earnings and revenue beat late Monday. The company also increased its quarterly dividend 10%, to $1.65 per share.


IBD Live: A New Tool For Daily Stock Market Analysis


The drop sent Home Depot stock up to cut below its 10-week moving average. The stock has been seesawing above and below the line since August, forming in the process a 26-week flat base. The base has a 293.05 buy point. Shares ended Monday 6% below that entry.

Stimulus Set For House Floor Vote

In Washington, the House Budget Committee passed President Joe Biden’s $1.9 trillion American Rescue Plan Monday after a 19-16 vote, with Republicans opposing the measure. The move sets the package up for a House floor vote later this week. House Democrats are aiming to have the package ready for the president’s signature before current supplemental unemployment benefits expire on March 14.

Federal Reserve Chairman Jerome Powell is due to address the Senate Banking, Housing and Urban Affairs Committee at 10 a.m. ET.

Bonds, Copper Flat; Oil At 13-Month High

Among other U.S. markets, bonds flattened, with the 10-year yield at 1.36%, up sharply from lows around 0.50% in August. Yields had started 2020 at around 1.8%, down from about 2.7% a year earlier.

Oil prices rose, with West Texas Intermediate crude up 0.5% to above $62 a barrel, and at its highest level since Jan. 8, 2020. Europe’s Brent crude benchmark rose to near $66. Copper also paused its rally, with futures trading flat near $4.15 a pound, the highest mark since July 2011.


Stock Market ETF Strategy And How To Invest In The Current Uptrend


Bitcoin Dips Below $46,000

Bitcoin recovered some early losses Tuesday, after sinking below $46,000 to touch its lowest level since Feb. 11, according to CoinDesk. Bitcoin had climbed to a record high above $58,000 on Sunday.

Among Bitcoin-related stocks, Marathon Patent Group (MARA) tanked 15%, while MicroStrategy (MSTR) traded down 7.4%. The Amplify Transformational Data Sharing ETF (BLOK) slumped 10.5%.


Stock Market ETF Strategy And How To Invest In The Current Uptrend


IBD Leaderboard stock PayPal Holdings (PYPL) dropped 6.5%. PayPal stock has felt some influence from Bitcoin price swings since October, when the company launched a cryptocurrency trading service that deals in Bitcoin. The loss points PayPal stock toward a drop below its 21-day moving average, and a possible test of support at its 10-week line.

Coronavirus Update: 41-Day Decline Ends

As the cumulative death toll from the coronavirus pandemic in the U.S. climbed above 500,000 on Monday, the seven-day average for new Covid-19 cases reported daily in the U.S. and worldwide ticked higher for the first time in 41 days. New cases reported worldwide, averaged across the prior seven days, increased to 360,341 on Monday. That is more than 50% below the high of 745,985, recorded on Jan. 11.

In the U.S., the seven-day average for new reported cases rose on Monday to 69,528, still down more than 72% from the peak of 255,258 reached on Jan. 11, according to Worldometer.


Why This IBD Tool Simplifies The Search For Top Stocks


Deaths also ticked higher for a second day. The seven-day average for deaths reported daily rose to 2,042 on Monday. The daily average for deaths reported had fallen for 25 days after hitting a high of 3,447 on Jan. 26.

The Centers for Disease Control and Prevention reports that 75.2 million doses of vaccine have so far been distributed in the U.S. Some 64.177 million doses have been administered, meaning just under 20% of the U.S. population has so far received at least one shot.

Among related stocks, Co-Diagnostics (CODX) and Moderna (MRNA) were taking early hits, down 4.1% and 1.5%, respectively. No clear news was driving the moves.

Dow Jones Today: Salesforce Earnings

IBD Long-Term Leader Salesforce.com (CRM) will be the last regular-season earnings report among Dow Jones stocks. It’s due to report its fourth-quarter earnings after the close on Thursday. Salesforce shares fell 2% in early trade on the Dow Jones today.

Salesforce stock is climbing the right side of a cup base that formed after a failed November breakout from a double-bottom base. MarketSmith puts the buy point at 271.02, and Salesforce shares were about 10% below that mark at the end of trade on Friday.

Find Alan R. Elliott on Twitter @IBD_Aelliott

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NBA Power Rankings: Nets on Jazz’s heels for top spot; Lakers keep dropping; surging Raptors make big jump


1


Jazz

Utah emerged with a 2-1 record against two of the league’s best teams this week, beating the 76ers before splitting with the Clippers. The win over the Clippers came with Paul George and Kawhi Leonard on the sideline, and both were back for Friday’s rematch. Even in the loss, Donovan Mitchell’s heroic effort made things interesting down the stretch. Another silver lining is that Mike Conley returned for that game, scoring 16 points in 25 minutes following a six-game absence. Despite the loss, the Jazz have still won 20 of 22 games and occupy first place in the West. — 24-6
2


Nets

This week served as a warning shot to the league, and proved just how dangerous the Nets are. James Harden was simply phenomenal, leading Brooklyn to a comeback win over Phoenix on Tuesday without Kyrie Irving and Kevin Durant. The Nets followed that up with wins over the Lakers and Clippers to complete a perfect five-game West Coast road trip. Harden averaged nearly 32 points, 11 assists and nine rebounds on 47 percent 3-point shooting this week. 5 20-12
3


Clippers

The Clippers pulled off an impressive victory over the Heat without Paul George and Kawhi Leonard, then split a pair of games after the duo came back against the Jazz and the Nets. The loss to a Kevin Durant-less Brooklyn team on Sunday was not without controversy, as Kawhi Leonard’s late, potentially game-tying layup was wiped off due to an offensive foul. Hopefully the Clippers stay healthy so we can see exactly what they’re capable of over the next few weeks. 1 22-10
4


Suns

Blowing a 24-point lead against the Nets without Kevin Durant and Kyrie Irving was a tough way to start the week for the Suns, but they turned around to pull off a fourth-quarter comeback of their own against the Pelicans before destroying an undermanned Grizzlies squad on Saturday. Chris Paul has been a madman of late, averaging 20 points and 10.7 assists for the week on scorching 61 percent 3-point shooting to go along with Devin Booker’s 22.7 points per game, which helped the Suns to an absurd 131.5 offensive rating. 1 19-10
5


Lakers

Hey, it turns out not having Anthony Davis makes things a little more difficult for your team. Who knew? After beating the Wolves, the Lakers lost to the Nets and Heat at home to close out the week. Dennis Schroder missed the two losses as well, making offense a struggle, particularly when LeBron James was on the bench. Kyle Kuzma has stepped up, averaging 15.3 points and 5.7 rebounds on 39 percent 3-point shooting for the week, and they’ll need him to continue producing for as long as Davis is out. 1 22-9
6


Trail Blazers

Damian Lillard and the Blazers ran their win streak to six games by beating the Thunder and Pelicans before losing to the Wizards on Saturday. Lillard was his normal outstanding self this week with 36.3 points, 12.7 assists and more than six 3-pointers per game. Gary Trent Jr. kept up his strong play with 19.3 points on 41 percent 3-point shooting, while Derrick Jones Jr. has provided some solid minutes. CJ McCollum’s fractured foot is set to be reevaluated in about a week, and the Blazers have done about as well as possible without him. 1 18-11
7


Raptors

Well we knew the Raptors would eventually go on a run, and it started this week with four wins, including two in Milwaukee and one over the Sixers. Even more impressive is that Toronto did it with Kyle Lowry only playing 22 total minutes this week due to an ankle injury and OG Anunoby missing two games. Fred VanVleet and Pascal Siakam stepped up as expected, and Norman Powell came through with 29- and 30-point efforts against the Bucks and Wolves. The Raptors’ defense is flying around the court, making them a very dangerous team. 8 16-15
8


76ers

The Sixers beat the Rockets and Bulls this week while falling to the Jazz and Raptors. Joel Embiid missed the Utah game, but had a career-high 50 points in the win over Chicago in another phenomenal week. Ben Simmons dropped a career high of his own with 42 points against the Jazz, and returned from illness on Sunday to score 28 points on 9-for-11 shooting in the loss to Toronto. 1 20-11
9


Bucks

The Bucks saw their losing streak extend to five games with back-to-back losses to the Raptors to start the week, but they bounced back to beat the Thunder and Kings. The Bucks offense has struggled, and the eventual return of Jrue Holiday should help them in that department. Giannis Antetokounmpo had another monster week, averaging 31 points, 14.8 rebounds and 7.0 assists, while Khris Middleton broke out for 32 points on 13-for-22 shooting in Sunday’s win over the Kings. 1 18-13
10


Spurs

The Spurs had all three games this week postponed due to positive COVID tests within the organization. Monday’s game against the Pacers has also been postponed. 2 16-11
11


Celtics

The Celtics were on their way to a 3-1 week, but saw a 24-point lead evaporate on Sunday as the Pelicans prevailed in overtime. Kemba Walker looked to have found his shooting stroke, but then put up another 5-for-21 clunker in Sunday’s loss. Jayson Tatum averaged 28.3 points and 7.3 rebounds for the week, but shot just 31 percent from 3-point range, while Jaylen Brown added 22.8 points on 41 percent 3-pointers. It’s been hard to find consistent contributors behind Tatum, Brown and Walker with Marcus Smart out of the lineup. 3 15-15
12


Warriors

After a thrilling comeback victory over the Heat on Wednesday, the Warriors were oh so close to winning three straight games for the first time this season, but they lost to a severely depleted Magic team. They followed that up with a valiant effort without Steph Curry against the Hornets, but Draymond Green’s two technical fouls and Terry Rozier’s insane game-winner made it two losses in a row for Golden State. Kelly Oubre Jr. has really found his stride after a dreadful start, averaging 22 points on 48 percent 3-point shooting this week. 1 16-15
13


Nuggets

Jamal Murray had a week for the ages, averaging 35 points per game on 56 percent 3-point shooting, but that only translated to one win for the Nuggets, partly due to a thin rotation because of various injuries. Nikola Jokic averaged 26.8 points, 8.8 rebounds and 7.5 assists on 53 percent 3-point shooting, but Denver once again had defensive issues in losses to the Celtics, Wizards and Hawks. The Nuggets now have a bottom-10 defense, allowing 111.9 points per 100 possessions. 7 16-14
14


Mavericks

The Mavericks had their only two games postponed this week due to government closures as Texas faces severe weather conditions. Dallas has home games scheduled for Monday and Tuesday, so we’ll see if it’s able to play those. 2 13-15
15


Heat

The Heat’s losing streak extended to three games with losses to the Clippers and Warriors to start the week, but they finished strong with wins over the Kings and Lakers as a tough seven-game road trip winds down. Goran Dragic missed all four games this week, and Kendrick Nunn filled in admirably with 17 points per game on 52 percent 3-point shooting. Bam Adebayo and Jimmy Butler continue to lead the way, but Miami needs to string together some wins if it wants to get back into the upper echelon of the Eastern Conference. 3 13-17
16


Pacers

The Pacers played two overtime games, losing to the Bulls and beating the Wolves, before their final game of the week against the Rockets was postponed. Domantas Sabonis had a monster triple-double against Minnesota, putting up 36 points, 17 rebounds and 10 assists. Malcolm Brogdon seems to have returned to his early season form after a short slump, averaging 27.5 points, 12 rebounds and 6.0 assists on 50 percent 3-point shooting in the two games. 3 15-14
17


Hornets

The Hornets had two games postponed this week due to health and safety protocols, then beat the Warriors in one of the most unbelievable endings you’ll ever see in sports. With the Hornets trailing by two, Draymond Green picked up two technical fouls, which allowed Terry Rozier to tie the game at the free throw line. On the ensuing Hornets possession, Rozier hit an absolutely ridiculous fall-away jumper from the corner to beat the buzzer and give Charlotte the win. The Hornets looked out of sorts after six days off and nearly failed to capitalize against the Steph Curry-less Warriors, but Rozier absolutely took over in the fourth quarter, finishing with 36 points on 8-for-11 3-point shooting to continue his breakout season. — 14-15
18


Pelicans

Zion Williamson averaged almost 30 points on 67 percent shooting this week, to go along with 7.0 rebounds and 4.5 assists. He was an absolute monster as the Pelicans went 2-2 this week, capped off by a thrilling comeback overtime win against the Celtics on Sunday. Brandon Ingram was no slouch himself, averaging 23.5 points on 42 percent 3-point shooting, while Lonzo Ball continues to play excellent all-around basketball. 7 13-17
19


Grizzlies

Memphis was blown out by the Pelicans and Suns this week, but picked up wins over the Thunder and Pistons in between. Ja Morant struggled from 3-point range, but still put up 21 points and 7.3 assists per game, while Kyle Anderson was impressive with over 18 points per game on 60 percent 3-point shooting. Justise Winslow made his long-anticipated Grizzlies, putting up nine points and seven rebounds in 21 minutes. 3 13-13
20


Magic

Steve Clifford might deserve Coach of the Year buzz for what he did this week with the Magic. The return of Evan Fournier was apparently all the team needed, as Orlando rattled off wins over the Knicks, Warriors and Pistons for a perfect week. Nikola Vucevic is an undisputed beast, and Fournier took over the perimeter scoring duties for a team that has played consistent, disciplined defense. It’s not pretty, but the Magic are getting it done against all odds. 8 13-18
21


Knicks

The Knicks beat the Hawks and Timberwolves this week, but lost a winnable game against the short-handed Magic in Orlando. Julius Randle scored 44 points and sunk a career-high seven 3-pointers in the win over the Hawks as he continues his breakout season. RJ Barrett also had a strong week, scoring 21 points against both the Hawks and Wolves. 2 15-16
22


Wizards

Well, well, well. The Wizards won all three games this week to make it four in a row overall, and beating the Nuggets and Blazers should certainly provide this group with some confidence. Bradley Beal averaged 33 points on 54 percent field goals this week, while Russell Westbrook put up 18.3 points, 13.3 assists and 12.3 rebounds per game. Davis Bertans went berserk in the win over the Nuggets, scoring 35 points on 9-for-11 3-pointers to become the first player to ever score 30 or more points without attempting a 2-point shot. 1 10-17
23


Bulls

Chicago went 3-1 this week with wins over the Pacers, Pistons and Kings, and its loss came on the road to the 76ers. The defense was much better, and Zach LaVine continued his monster season with 33.8 points per game on 42 percent 3-point shooting. He also averaged over 10 points in the fourth quarter over the three games, as he’s become one of the game’s best closers. All-Star or not, LaVine has made a huge leap this season. 1 13-16
24


Hawks

The Hawks lost to the Knicks, split with the Celtics, then finished off the week by beating the Nuggets behind 35 points and 15 assists from Trae Young. After all of their offseason moves, Atlanta’s bench unit is a hodgepodge of journeymen and rookies, as Bogdan Bogdanovic, Rajon Rondo and DeAndre Hunter all deal with injuries. If they can stay afloat while those guys recuperate, the Hawks could be poised for a second-half run. 2 13-17
25


Thunder

OKC had some offensive struggles in three losses to start the week, but it finished things off with a win over the Cavs on Sunday. Shai Gilgeous-Alexander went for 31 points and nine assists in the win, and he was one of six Thunder players to average double-figure scoring for the week. 5 12-18
26


Kings

Oof. After appearing to be on the cusp of turning their season around, the Kings lost all four games this week to make it seven straight, as the defense has regressed to its early season lows. Harrison Barnes, Richaun Holmes and Glenn Robinson III all missed time this week, necessitating more minutes for Hassan Whiteside and Nemanja Bjelica, which never helps your defense. Marvin Bagley looked good offensively as he continues to ramp up his minutes, and Tyrese Haliburton went for 23 points and eight assists in Sunday’s loss to the Bucks. 5 12-18
27


Pistons

The Pistons went back to their losing ways after three big wins last week, falling to the Bulls, Grizzlies and Magic. An injury to Delon Wright leaves Dwane Casey with a tricky situation at point guard, as Dennis Smith and rookie Saben Lee are his only options. Lee played well in Sunday’s loss to the Magic, while Jerami Grant scored a career-high 43 points in the loss to the Bulls. 5 8-22
28


Rockets

Houston dropped two games this week before the other two were postponed due to mandatory closures in Texas brought on by severe weather. John Wall had a huge game in his return to Washington, and averaged 28.5 points and 9.0 assists in the two losses this week. The big news is that Houston has cut ties with DeMarcus Cousins, possibly indicating a more concrete shift toward rebuilding amid a seven-game losing streak. 1 11-17
29


Cavaliers

The Cavs aren’t just losing — they’re not even coming close. That’s now 10 losses in a row, nine of which were by at least 16 points. On the plus side, Jarrett Allen has played well since Andre Drummond left the mix and Darius Garland has shown flashes of brilliance, but a team that can’t score and can’t get stops isn’t going to win many games. — 10-21
30


Timberwolves

If the Wolves are going to turn their season around, they’re going to have to do it with a new coach. Ryan Saunders was relieved of his duties after Sunday’s loss to the Knicks, and will reportedly be replaced by Raptors assistant Chris Finch, who will inherit the worst team in the NBA, record-wise at least. Karl-Anthony Towns is starting to get his legs under him after recovering from COVID-19, but he’s getting very little consistent help with D’Angelo Russell sidelined. — 7-24

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Viral Vegas: Deaths jump, tourism slumps amid long pandemic

LAS VEGAS — Six weeks ago, thousands of New Year’s revelers gathered beneath the neon-lit marquees on the Las Vegas Strip — even though the big annual fireworks show was called off due to the coronavirus pandemic.

The sight of the big crowd, including many people without masks, spurred fears that COVID-19 infections would skyrocket, followed by hospitalizations and then deaths. That’s exactly what happened. January was Nevada’s deadliest month since the pandemic began, with 1,132 deaths. December was second.

Now the virus is reshaping a tourist destination built for excess and known for bright lights, big crowds, indulgent meals and headline shows. Visitors arrive to find some freedoms curtailed and some familiar attractions closed, but parking and bargain prices are abundant. Big performances and conventions are still on hold.

“We have an industry that invites people from all over the world to come here, and unfortunately when they come here, they can bring disease with them,” said Brian Labus, a longtime epidemiologist at the regional Southern Nevada Health District who now teaches public health at the University of Nevada at Las Vegas. “The concern is that it spreads within our local population.”

In this Dec 31, 2020, file photo, a couple kiss as they celebrate New Year’s Eve along the Las Vegas Strip in Las Vegas. (AP Photo/David Becker, File)

HOUSE COMMITTEE APPROVES ANOTHER $14B FOR PANDEMIC-HIT AIRLINES

In mid-January, more than half of the hospitals in and around Las Vegas reported being at least 90% full. One suburban medical center declared a capacity crisis, with more patients than beds. Nearly half of its 147 beds were occupied by coronavirus patients.

Deaths in Nevada hit a single-day record of 71 on Jan. 21. On Thursday, the statewide death total from COVID-19 was 4,637 since the pandemic began.

As in other cities, some overwhelmed funeral homes have used refrigerated trailers to hold the dead, interim Coroner Michael Murphy said.

“It’s nothing like I ever experienced in my nursing career,” said Dina Armstrong, a nurse at MountainView Hospital in northwest Las Vegas. “Dealing with this disease is mind-blowing — the stress and the environment.”

On the streets, the result is many fewer tourists and “a very different experience,” said Marilinda Sepulveda, a repeat visitor, as she and her husband waited to snap photos next to the “Welcome to Las Vegas” sign.

People cross Las Vegas Boulevard near the Wynn Las Vegas in Las Vegas, Feb. 10, 2021. (AP Photo/John Locher)

COVID-19 TRAVEL SLUMP HANDS EXPEDIA BIGGER FINANCIAL LOSS THAN EXPECTED

The couple from Mission, Texas, spent two nights at the Cosmopolitan hotel in the heart of the Strip. “The nightlife is: You gamble, you walk, you go to your room,” Sepulveda said.

Speaking through a cloth face mask, her husband, Ozzy Benavidez, said they would have gone to magic shows and restaurants. Instead, the pair bought take-out meals and ate in their room.

Some marquee properties have been idled, including the Mirage casino and its iconic man-made volcano eruptions on the Strip.

Others, like the Wynn Resorts property Encore, are closed during the week but open on weekends. Unused convention space in the sleek curved 2,700-room tower was repurposed as a vaccination center operated by the region’s public hospital. Nearly 11,500 people have gotten shots there.

At the Las Vegas Convention Center, where a huge new wing was expected to open in time for the big Consumer Electronics gadget show in early January, officials opened a facility for people receiving their second dose of vaccine. CES was held virtually.

Up and down the Strip, from the renovated Sahara to the gleaming gold-windowed Mandalay Bay, visitors have found quiet gambling floors, shuttered showrooms and inexpensive rates.

With the ongoing coronavirus pandemic curtailing tourism, visitors have found quiet gambling floors, shuttered showrooms and inexpensive rates. (AP Photo/John Locher)

AROUND THE GLOBE, VIRUS CANCELS SPRING TRAVEL FOR MILLIONS

Daniel Pangau, pastor of an Indonesian Christian church in Brea, California, figured a three-day stay at the Delano hotel for his family of six cost less than half the price before the pandemic.

Tourists find plentiful parking and signs everywhere reminding them to wear masks. They don’t see the thousands of workers still without jobs.

When casinos closed in mid-March, 98% of the 60,000 members of the local culinary and bartenders’ unions were furloughed. Union spokeswoman Bethany Khan said only about half are back to work now.

At least 115 union members and immediate family members have died from COVID-19, and almost 2,000 have been hospitalized with the virus since March, Khan said.

Unemployment in Nevada shot up from an all-time low of 3.6% in February 2020 to a worst-in-the-nation record 30.1% in April. The figure was down to 9.2% in December.

From mid-March to Jan. 30, more than 834,000 people filed first-time claims for jobless benefits, according to the state jobless office. That figure is especially startling when weighed against the size of the entire statewide workforce a year ago — 1.4 million people.

A man walks in front of the Circus Circus hotel and casino in Las Vegas, Feb. 4, 2021. (AP Photo/John Locher)

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Visitor numbers were down by more than half in 2020 — just 19 million — compared with 42.5 million in 2019, according to data compiled by tourism, airport and gambling regulators.

Casino tax revenues, a key source of funds in a state with no personal income tax, were down 40% during the calendar year, gambling regulators reported.

Big conventions stopped completely in March and have not resumed. Democratic Gov. Steve Sisolak let casinos reopen in June with pandemic crowd restrictions. In November, he instituted what he termed a “pause” in reopenings.

Citing progress against the virus, the governor on Thursday announced that restrictions on businesses and gatherings could be loosened over the next three months.

Casinos, gyms, bars and restaurants will increase from 25% to 35% capacity beginning Monday, with seating limits, mask mandates and social distancing required. Casinos could go to 50% capacity next month. Clubs and nightclubs remain closed.

By the time shows resume, some veteran performers may be gone, said Alan Feldman, a longtime casino executive who is now a fellow at the International Gaming Institute at the University of Nevada, Las Vegas.

“One toll yet to be measured is the loss of talent,” Feldman said. “To what extent have people moved on to other careers or back to school or out of the state? That’s yet to be determined.”

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Riverdale Is a Whole New Show After a 7-Year Time Jump

Starting tonight, Riverdale‘s got a whole new vibe. 

It’s seven years after high school and seven years since Archie (KJ Apa), Betty (Lili Reinhart), Veronica (Camila Mendes) and Jughead (Cole Sprouse) have seen each other, and a whole lot has changed.

Archie went to war, Betty joined the FBI, Veronica got married and Jughead is…still a tortured writer, because not everything has changed. 

It’s a whole new Riverdale, in more ways than one. Gone are the nonsensical high school murder plots that are peppered with SATs and promposals, replaced with grown up murder plots peppered with money concerns and the ability to legally drink. Finally, the stars get to act their age now, and their character’s actions now suddenly get to make a lot more sense.

Critics have only seen one post-time jump episode so far so we can’t really speak to what’s coming, but there’s an awful lot of potential for a really great new beginning. If you’ve fallen off the show (or never got on in the first place) and are curious, now would be a great time to jump back in. 

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Bizarre Coelacanth Hasn’t Spent 65 Million Years Unchanged After All, Its Genome Reveals

In 1938, a living relic, thought 65 million years long extinct, was accidentally captured in a trawl net off the coast of South Africa.

The 2-metre (6.5-foot) long coelacanth (Latimeria chalumnae) turned out to be one of our closest fish relatives – looking largely unchanged since its most recent appearance in the fossil record back from the time of non-avian dinosaurs.

 

Now new genetic evidence shows this deep-sea predator has undergone hidden, but widespread evolution at a genetic level – by hijacking genes from other species.

While searching genetic databases for the ancestral version of a human gene involved in gene regulation, CGGBP1, University of Toronto molecular geneticist Isaac Yellan unexpectedly found coelacanth strangely has many variations of this gene.

Even more unusually, these different variations of the CGGBP genes didn’t all share a common ancestor with each other. This suggests that at some points around 10 million years ago, 62 of these genes were swiped by the coelacanth from other, unrelated species – through horizontal gene transfer.

These genes, with their ability to ‘jump’ around and even between genomes a bit like viruses, are known as transposons.

If they happen to jump into the right place in the genome, cellular machinery will copy them just like any other gene. But they can also jump into the wrong place, where they can be harmful and so are thought of as parasitic.

Occasionally though, they can end up in a position that’s useful to their host species and end up losing their ability to jump around but are conserved within their new place in the genome, which is what seems to have happened in the coelacanth, several times over.

 

“Horizontal gene transfer fuzzies up the picture of where the transposons came from but we know from other species that it can occur via parasitism,” said Yellan. “The most likely explanation is that they were introduced multiple times throughout evolutionary history.”

While it’s common to find transposons like these in many species, it’s unusual to find so many.

Test tube experiments and computer modelling demonstrated at least eight of the proteins that these genes code for bind to distinct repeated sequences of DNA, suggesting that – like the human version – they are involved in gene regulation. Some of them are only expressed in specific tissues.

“We don’t know what these 62 genes are doing, but many of them encode DNA binding proteins and probably have a role in gene regulation, where even subtle changes are important in evolution,” explained University of Toronto molecular geneticist Tim Hughes.

Coelacanth have leg-like lobed fins and are more closely related to us and our closest fishy relatives, the lungfish, than other types of fish. Our very distant shared ancestor means the coelacanth’s genome has the potential to help us unravel many mysteries about our own evolution.

 

Unfortunately, these fish are rarely seen and endangered, so opportunities to study them are limited. But the information we have from them is already proving fruitful.

A recent study on their genes suggests our bitter receptors may have roles beyond protecting us from toxic substances, like metabolic regulation and hormone sensing. Now coelacanth genes have demonstrated transposons potentially play a larger role than we realise in tetrapod evolution.

“Our findings provide a rather striking example of this phenomenon of transposons contributing to the host genome,” said Hughe.

This research was published in Molecular Biology and Evolution.

 

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Bulls teammates jump to Coby White’s defense as struggles continue

Thankfully for Coby White, his teammates played better defense sticking up for him than White did Monday night in a brutal loss to the lowly Washington Wizards.

Shorthanded or not, the Bulls lost to a Wizards team that was finishing a back-to-back, playing without Russell Westbrook and entered as one of the worst defensive teams in the league.

When Raul Neto scored two easy layups in the first 1 minute, 32 seconds of the second half, coach Billy Donovan pulled the plug. Out came White, who failed to score in the first half, missing all five shots. In came Tomáš Satoranský, who said he’s feeling 100 percent following his bout with COVID-19.

“I gave up two layups, so I wasn’t expecting to stay in,” White said.

To White’s credit, he rallied to finish with 8 points, 8 rebounds, 3 assists and just one turnover in his 30 minutes, sinking a huge, 8-foot jumper with 29.2 seconds to play on a nifty out-of-bounds play from Donovan. The shot pulled the Bulls within one and left enough time for them to regain possession.

But White shot 3-for-10, missed all four 3-pointers and struggled too often defensively on another inconsistent night.

Last year I went through the same thing, up and downs shooting the ball,” said White, who is now at 40 percent from the field. “Just try to stay consistent, getting up more shots in the gym.”

Donovan has consistently stated he’s going to stick with White, who is in his first season as a full-time starter and playing on the ball more than he did last season. But with the number of possessions where Zach LaVine is playing point guard growing and Satoranský playing strong of late — including 9 points, 7 rebounds and 3 assists on Monday — more quick hooks could be in White’s future.

 

“Everybody has bad games and has low points. I think Coby, his effort, first off, is always there. He’s always upbeat and looking to help guys out even if he’s not having the best shooting night or best game,” LaVine said. “So help him find some easy ones, get him in a rhythm. And once he gets into a rhythm, I think it’s going to take off from there.”

Satoranský, while acknowledging White’s inconsistent play, had his teammate’s back, too.

“I think this is the toughest transition for someone coming from college and being at the point guard position. I can say that from my own experience, and I was 25 years old when I came to the States and tried to be a point guard of an NBA team,” Satoranský said. “I think his aggressiveness is the best we can get from him, of him really playing in a rhythm. Sometimes he’s trying from that point guard position to be a facilitator a lot. And I always tell him, when he’s aggressive, he’s the best Coby I know. And I think that’s the best for the team.”

This is the price the Bulls are paying by trying to force feed White at the point guard position. Too often, he seems to defer, trying to get his five-man unit playing in rhythm. He hasn’t posted a 20-point game since Jan. 30 and only has one 30-point game after registering three straight off the bench down the stretch of last season.

“He’s got to play the game,” Donovan said. “Just to start hunting shots, he’s going to have to play the game… He didn’t get a lot of shots, but I think he stayed pretty aggressive. I thought he tried to play downhill early. He didn’t really try to leave his feet early in terms of finishing at the rim. But I’ve always told him: Stay aggressive.

“We’re relying on him to run the team and get us in and out of offenses and I’ve seen a lot of growth in that from him. But I just think the shooting piece of it, it’s got to be: Is it benefitting and helping the team in terms of are people involved?”

Speaking of questions, did we mention White’s teammates defended and supported him?

It’s tough on him, for sure. There’s big pressure. But he’s up to that pressure,” Satoranský said. “He’s been an unbelievable learner and he’s been doing everything right in practices and doing all the hard work. So I have confidence in him.”

 

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When Is the ‘Riverdale’ Season 5 Time Jump? Here’s What to Expect in the Next Few Episodes

Riverdale Season 5 is finally here, which means the time jump is just around the corner. But, when can fans expect the big leap? Here’s everything viewers need to know about the next few episodes.

Cole Sprouse reveals when the ‘Riverdale’ Season 5 time jump will happen

https://www.youtube.com/watch?v=FqWiIWJCzwk

RELATED: ‘Riverdale’ and ‘Chilling Adventures of Sabrina’ Creator Teases Crossover, But It’s Too Late Now

After the Riverdale Season 4 finale, creator Roberto Aguirre-Sacasa confirmed the time jump in season 5. That said, the fourth season was cut short when production shut down early amid the coronavirus (COVID-19) pandemic. So, the Riverdale team chose to complete their storylines as planned before moving on with the time jump.

“The one thing we decided on is that, rather than doing a time jump between season 4 and 5, we thought that things like prom and things like graduation [are important],” Aguirre-Sacasa told Entertainment Tonight in May 2020. “After spending four years with these characters in high school, you don’t want to lose that. So, the first three episodes back are kind of a direct continuation.”

He later added, “Usually, time jumps happen in between seasons. But this is an extraordinary year and these are extraordinary circumstances. So, we’re trying to figure out if we are doing a time jump, how quickly we can do it.”

RELATED: Why Cole Sprouse Won’t Be Leaving ‘Riverdale’ Anytime Soon

Ahead of the Riverdale Season 5 premiere, Cole Sprouse (who plays Jughead Jones) revealed when the time jump will happen and how long it will be.

“We have a big time jump,” Sprouse said on The Tonight Show Starring Jimmy Fallon. “We had to shut down, obviously, because of the COVID lockdown at the final three episodes of last season. So, the first three episodes of this new season are us finishing those ones. Then in episode 4, we do a big time jump.”

He continued, “We all leave Riverdale at the end of episode 3 and come back seven years later. So I actually get to play, roughly, my age, which is wonderful.”

[Spoiler alert: Spoilers about what happens after the Riverdale Season 5 time jump.]

What to expect from Betty, Archie, Veronica, and Jughead after the ‘Riverdale’ Season 5 time jump

KJ Apa from ‘Riverdale’ | Albert L. Ortega/Getty Images

RELATED: ‘Riverdale’ Season 5: Is Hermione Lodge Leaving? Marisol Nichols Has Exciting News for Fans

While the start of Riverdale Season 5 will bid farewell to high school, the seven-year leap means plenty of change is coming after the third episode. In an interview with Entertainment Tonight from January 2021, KJ Apa (who plays Archie Andrews) teased what happens to the Core Four. 

For one, Veronica Lodge (Camila Mendes) is married to a “jealous guy” named Chad Gekko (Chris Mason). Meanwhile, Betty Cooper (Lili Reinhart) is apparently in the FBI. “I, uhh, I don’t know how she did that,” Apa said. 

The actor also revealed that Jughead becomes an author and a “somewhat homeless” drunk. “Jughead is a — I believe he is an author and a drunk and somewhat homeless after the time jump,” Apa said. “I’m exaggerating a little bit, but technically I’m right.”

Meanwhile, when speaking with TVLine, Apa confirmed that Archie joins the army after graduation. But, he returns to Riverdale after he learns what Hiram Lodge (Mark Consuelos) does to the town.

“[Archie] discovers the town is on the verge of becoming a ghost town, thanks to Hiram,” Apa said. “So, he wrangles the whole team in, and they figure out ways to revive the town.”

RELATED: ‘Riverdale’ Season 5: Will Toni Topaz Finally Get the Backstory She Deserves?

The actor shared that the best way to revive the town is through Riverdale High. Then in the above interview with Entertainment Tonight, Apa revealed the characters will become teachers at the school.

“The time jump will be a catalyst for what all brings us all back to Riverdale, and we all become teachers at Riverdale High,” he said.

Clearly, there’s a lot going on after the time jump in Riverdale Season 5. But, even so, Apa promised fans that the show will still be the same at its core.

“Although there is a certain level of maturity to the characters now, it’s still Riverdale,” Apa said. “There’s still a lot of drama. But at the end of the day, it’s not like it has aged up the show by any means.”

Riverdale Season 5 airs Wednesday nights on The CW.



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Angry ‘Reddit Mob’ and Shortsellers Clash Over Gamestop’s Ridiculous Stock Market Jump

Photo: Photo by JIM WATSON (Getty Images)

Video game retailer GameStop, that store you stumble into at the mall while trying to figure out why you’re at a mall, is having quite a moment on Wall Street. The company went on a rollicking market run Friday, skyrocketing nearly 70 percent before trading was briefly halted due to online drama involving its stock.

The gaming store has been on a roll ever since recent shifts within the company’s board of directors “sparked a rally” of its stock. Since then the GameStop’s value has continued to climb. Bloomberg reports:

GameStop is up 245% in January to date, with its average daily rolling 10-day volatility peaking at the highest level in the nearly two decades the stock has been trading, data compiled by Bloomberg show. Friday’s eye-popping surge fueled its market value above $4.5 billion at its peak.

This surge has been partially fueled by a controversial band of online proponents, day traders on a reddit thread: r/wallstreetbets. The r/wallstreetbets traders have been vociferously rallying behind GameStop’s stock, ginning up interest via social media, with The Street noting that the redditors are “responsible for pushing the stock to levels it hasn’t seen in years.”

This is where the drama part comes in. Critics claim that the online supporters are having an undue influence on the stock’s trajectory. The Verge, for instance, notes that the “hype generated by r/wallstreetbets helped create what’s known as a “short squeeze” on GameStop’s stock.” A short squeeze, explains Yahoo Finance, is essentially a pumping up of the stock that “forces short sellers to buy in order to forestall bigger losses, sending the stock price much higher.”

Image: Screenshot: Reddit

One of the more vociferous critics of GameStop has been well-known short-seller, Andrew Left, who runs Citron Research, a newsletter critical of companies Left deems “fraudulent” or doomed to fail. Contrary to the redditors, Left has been predicting the gaming company’s imminent downfall.

On Thursday, he released a Youtube video in which he called the company a “failing mall-based retailer” and listed the reasons why he believed that the company would soon fall to $20 per share (instead, it closed at $43.03 later that day and rose to $65 by end of day Friday).

The drama between the redditors and Left reached a boiling point Friday, however, with Left claiming there had been attempts to hack into his Twitter account and also implying that his family had been somehow harassed. On Twitter he wrote: “We will no longer be commenting on GameStop, not because we do not believe our investment thesis but rather the angry mob who owns this stock has spent the past 48 hours committing multiple crimes that I will be turning over to the FBI, SEC, and other governmental agencies.”

Left doesn’t exactly have a spotless track record himself. After a controversial report on a Chinese real estate developer in 2012 (short-sellers made a bundle while the company was left reeling), Left was ultimately banned from the Hong Kong financial market for allegedly making “false and/or misleading” statements. Earlier in his career, in 1994, he was also sanctioned by the National Futures Association, the self-regulatory body committed to overseeing the country’s derivatives market, as “part of a wider probe” into a firm he was employed with at the time.

Markets Insider writes:

While it remains to be seen who will win out, some indicators have suggested the bulls’ party is ending. The Relative Strength Index for GameStop shares – a measure of the stock’s momentum – sat just below 80 following Thursday’s 10% climb. Readings above 70 suggest the stock is overbought, and the index hasn’t landed below that threshold since January 12.

Right now, it’s not totally clear where the stock is headed.

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