Saudi Arabia BTFDs

[The beef 675] [I'm an image] “I always say, buy the f*ckin’ dip, y’all!” - Jeff Hey there carnivores, Markets were up on Monday, despite oil going off the deep end… again. And today we’re talking about Saudi Arabia going bargain hunting. Keep raging, Jeff & Jason [Image] [I'm an image] Purchase confirmed Saudi Arabia took a $500M stake in Live Nation on Monday. Presumably, to get first dibs at tickets when [The Jonas Brothers go back on tour.]( The Saudi Sovereign Wealth Fund acquired the shares on the open market, as it was reported that Live Nation management [was in the dark]( about the Kingdom's plans. Seems like that's kinda how Saudi Arabia rolls. The investment amounts to a 5.7% stake in Live Nation, which makes the Saudis the third-largest shareholder, behind Liberty Media Group and Vanguard. Two companies that scream 'rock and roll.' The 'rona boi Live Nation, which owns Ticketmaster, has been particularly affected by lockdowns, as concerts and gatherings have been canceled or postponed well into the foreseeable future. As of March 31, the event-promoter had sold 45M tickets for shows in 2020, but those tickets are about as useful as a coupon to Circuit City right about now. LN’s [latest press release]( stated that in the last two weeks of March (since 'rona kicked off its world tour), eight thousand shows have been impacted by event stoppages, with 90% "postponed" and the remaining 10% of shows canceled. The ticket-price-gouger, however, claims that it has enough cash on hand to make it through the year. Glad to see those service fees and convenience charges are being put to good use. It’s also looking to stretch its piggy bank by implementing a hiring freeze, furloughing employees and reducing top executive pay by 50%. Plus Live Nation's CEO Michael Rapino has given up his salary for the year. $LYV [has halved YTD](, but the news sent shares up 12% to $42.86. The bottom line... Saudi Arabia has taken ‘buy the dip’ to heart, opening its pocketbook to buy battered shares across industries. In April, Saudi Arabia sprung for an 8.2% stake in Carnival Cruise Lines, [making it the second-largest shareholder]( behind chairman, Micky Arison. Shares were down roughly 75% at the time of purchase but rallied 30% on the day of the announcement. The Public Fund is also in the final stages of buying an 80% stake in Newcastle's football club. [Image] [Alternate text]( We’ve Saved These Gifts For You. As Well As An Invitation The Boardroom’s Latest Event. [Claim Them Now]( [I'm an image] ☑️ Back on its bullsh*t. Different day, same old f*ckery for oil. Black gold [dropped below $13]( a barrel in Asia, thanks to June crude contracts getting dumped by the popular ETF, USO. So where's the money going? Not too far. Apparently, USO thinks that by July there will be recovery and as such is investing in July futures. Storage capacity remains an issue, as nobody is using oil during the pandemic. South Korea, the country with the world's fourth-largest commercial storage capacity is said to have run out of space. It seems as though the world is now turning to Russia to reduce its output in order to buoy prices. We are so f*cked. ☑️ Guess who’s back? “That’s right, b*tches “ - Mark Tritton, probably Bed Bath and Beyond’s [stock soared 32% on Monday]( afternoon after the struggling retailer announced its online sales surged 85% for the month of April. After a tumultuous 2019 that saw a new CEO begin a turnaround, the last thing B, B & B needed was a global pandemic. But like Jordan overcoming Isaiah, Tritton made lemonade... out of a bat-borne illness. Triple B’s stores being closed allowed the retailer to repurpose them as fulfillment centers, which helped with digital sales delivery. If Tritton keeps this up, he’s going to need a [48-hour vacation.](.. ☑️ Not there yet. Tesla is [pulling the plug]( on resuming business after previously telling furloughed workers on the production lines to come back to work tomorrow (April 29). The Fremont plant, which is based in Alameda County, is responsible for making all of Tesla’s S3XY model types for delivery to North America and Europe. Alameda, however, has ordered Tesla to operate at minimum basic levels through May 4th. Turns out the guy who thinks up cool names for stuff like ["Ludicrous"]( acceleration mode is non-essential. Tesla’s share price dropped 1% after hours but rose 10% on the day. Elon and Co. report first-quarter results on Wednesday. This should be fun... ☑️ Sneak peek. Deutsche Bank [gave investors a preview]( of its Q1 earnings call tomorrow and things aren’t as bad as you would expect for the German bank. Of course, that doesn't make it a BB. Don’t get me wrong, it's bad, but analysts thought it would be much worse, apparently. DB went with the classic bad-news-sandwich approach. Its capital buffer (cash on hand) fell below the required amount but had better-than-expected revenue that resulted in...wait for it...a pre-tax profit during Q1. And Deutsche’s expected losses on loans aren't too bad either. The bank only put aside 500M euros, compared to the $2.4B JPMorgan earmarked. DB’s stock rose 12.44% yesterday on the news. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. 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