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May 19, 2022
PENNY STOCK SURGES AFTER FIDELITY LEGEND LYNCH REVEALS STAKE
by Bloomberg News
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(Bloomberg) — Peter Lynch still gets investors’ attention.
The former Fidelity Magellan fund manager revealed on Wednesday that he had
taken a 5.2% stake in Imac Holdings Inc., a provider of alternative medical
treatments — and on Thursday the shares surged, up as much as 25% in early
trading.
Lynch tries to avoid owning more than 5% of a particular stock and didn’t
realize that his $1.2 million stake put him over that threshold, requiring him
to disclose it in a filing, he said in an interview Wednesday.
He likes small-cap stocks because “they are less well followed,” Lynch said,
declining to discuss why he invested in Imac.
At Fidelity, Lynch generated annualized returns of 29% from 1977 to 1990, making
him a Wall Street star who later wrote popular books on stock-picking.
Shares of Brentwood, Tennessee-based Imac were up 18% to $1.01 each at 9:37 a.m.
in New York Thursday. The stock is down 11% this year.
ELON MUSK’S FIXER–A FORMER WIREHOUSE BROKER–QUIETLY TENDS THE WORLD’S BIGGEST
FORTUNE
Jared Birchall, head of Musk's family office Excession, runs point for the
capricious, controversial billionaire.
May 8, 2022
In "News"
$3.5-MLN MERRILL TEAM LAUNCHES RIA, LPL PULLS FROM UBS, MORGAN STANLEY
A $3.5 million Merrill team launched a registered investment advisory firm in
Philadelphia while LPL added UBS and Morgan Stanley solo practitioners in
Washington D.C. and Iowa.
Apr 6, 2022
In "Advisor Moves"
MERRILL LOSES $536M ILLINOIS TRIO TO STIFEL, $350M NEW JERSEY DUO TO RIA
The departures come as Merrill in the last two weeks also lost two teams with
$1.6 billion combined to Rockefeller and Wells Fargo Advisors.
May 2, 2022
In "Advisor Moves"
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