fog, forest, conifers-1535201.jpg

Today in the Market (2/3/2023)

Good Evening! U.S. equities fell on Friday as official employment statistics revealed that more than half a million jobs were created in January, undermining expectations for a halt in rate hikes.

The S&P 500 declined by 1.04%, but the Dow Jones dipped by 0.38%. The Nasdaq Composite closed 1.59% down.

ANOTHER STAKE, ANOTHER MEME STOCK?

The department store giant Nordstrom’s (JWN) stock soared on news that activist investor Ryan Cohen had acquired a position in the firm. A little refresher, Cohen is the co-founder of Chewy, and he may be most remembered for helping to send GameStop stock soaring in 2021 after he invested in the firm and pushed for a board reshuffle and other reforms.

How big is the stake? Cohen has accumulated a big enough stake making him one of the five largest stockholders outside of the Nordstrom family, according to The Wall Street Journal. Similar to what he did at GameStop, Cohen intends to pressure the failing department store company to make board changes.

How does he play his hands? As the company’s revenues decrease and it confronts secular headwinds, he feels that cutting expenses is the best solution. Nevertheless, investors should be wary because Cohen also maintained a position in Bed Bath & Beyond, contributing to the stock’s growth before “pulling the rug out” of other stockholders and making an estimated $60 million profit.

DOES ANYONE WANT TO BUY A FOREST?

phone wallpaper, forest, nature-6589852.jpg

The wealth management division of JPMorgan said that it bought 250,000 acres of forests in the Southeastern United States for $500 million. 

Why? In this era of corporate sustainability commitments, businesses are eagerly purchasing carbon offsets to offset their own carbon emissions. One of the most common methods of carbon offsets involves paying lumberjacks to temporarily lay down their chainsaws and conserve naturally CO2-absorbing trees.

“Rather than waiting to be paid, they can now be paid to wait,” the global head of alternative investments for JPMorgan stated in a September blog post. However, the bank aims to utilize its new forest for both wood production and carbon offsets.

It is not only them… Investors are placing massive wagers on the carbon offsets market. A group headed by a T. Rowe Price company spent $1.8 billion for 1.7 million acres of forest in 17 states last October.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?