00:08 Speaker A
Now, time for some of today’s trending tickers. We are watching sports betting companies Venture Global and Mosaic.
00:13 Speaker A
First up, let’s look at those sports betting companies. They’re taking a little bit of a hit today. The New York Times deal book has reported that their rival Kalshi will announce fresh funding.
00:20 Speaker A
The prediction market platform is said to have raised more than $300 million. It’s also reportedly opening up to international better.
00:27 Speaker A
The new funding would give the company a $5 billion valuation. Backers include Sequoia and Andreessen Horwitz as you see DraftKings, MGM, Flutter all under a bit of pressure.
00:36 Speaker A
Next up, Venture Global shares sliding after the LNG company lost a dispute with BP. That’s liquefied natural gas, by the way.
00:44 Speaker A
BP alleged the company had violated its long-term supply contract. They say the violation was in order to make bigger profits on the spot market.
00:52 Speaker A
Essentially the problem was BP and other companies had long-term contracts, but they weren’t getting any deliveries. The development delivers a blow to Venture Global,
01:00 Speaker A
which has become one of the largest exporters of LNG in the United States. And by the way, if you recall, this company went public this year, was one of the first back in January at 25 bucks a share,
01:07 Speaker A
and as you can see, it is now trading just over 10, down 18% today alone.
01:13 Speaker A
Finally, we have Mosaic, the fertilizer company saying that plant interruptions hit its phosphate production. Third quarter phosphate production fell below what management had expected.
01:21 Speaker A
That’s due to mechanical issues at one plant and utility interruptions at another. Preliminary sales volumes for phosphates also fell short of what analysts had predicted. Those shares down 8%.
01:30 Speaker A
As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance’s trending tickers page.
Source link
