Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Thematic (Sector/Industry)

<p>Headline Developments Coinbase (COIN) is under scrutiny from the SEC, receiving a subpoena from the regulator relating to its yield-generating product dubbed Lend (allowing users to earn double-digit yields on deposits of USDC on its platform).  According to a series of tweets from Coinbase CEO and co-founder Brian Armstrong (outlined below), he says that the SEC has refused to meet with the company, that they have complied with all requests and that the company’s door remains open for constructive discussions.</p>

Headline Developments Coinbase (COIN) is under scrutiny from the SEC, receiving a subpoena from the regulator relating to its yield-generating product dubbed Lend (allowing users to earn double-digit yields on deposits of USDC on its platform).  According to a series of tweets from Coinbase CEO and co-founder Brian Armstrong (outlined below), he says that the SEC has refused to meet with the company, that they have complied with all requests and that the company’s door remains open for constructive discussions.

<p>Headline Developments China has likened online computer games to opium, causing shares in Tencent (700.HK) and NetEase (9999.HK) to drop 10% and 15% respectively.  The article, which appeared in state-run Economic Information Daily (before being removed), said more than half of China’s children were nearsighted and online games affects their education; adding that gaming addiction is widespread and could negatively impact their growth.</p>

Headline Developments China has likened online computer games to opium, causing shares in Tencent (700.HK) and NetEase (9999.HK) to drop 10% and 15% respectively.  The article, which appeared in state-run Economic Information Daily (before being removed), said more than half of China’s children were nearsighted and online games affects their education; adding that gaming addiction is widespread and could negatively impact their growth.

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

<p>After Japan's earthquake automobile makers had a lot to worry about, since they were already faced with critical semiconductor shortages.  Now unusually bad weather has hit much of the US, and has stopped chip production in three important fabs in Austin, Texas.  This Insight explores the winners and losers in this series of events.</p>

After Japan's earthquake automobile makers had a lot to worry about, since they were already faced with critical semiconductor shortages.  Now unusually bad weather has hit much of the US, and has stopped chip production in three important fabs in Austin, Texas.  This Insight explores the winners and losers in this series of events.

Texas Weather Deals Second Blow to Automotive Chip Supply Chain

Managing Director

Elan Gore

TMI Data Science

TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade & traditional media.  Our proprietary software, TMI Machine, is a text-mining platform designed with the buy-side & capital markets professional in mind, text-mining the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income & individual equities.  TMI provides custom leading indicators and systematic trading strategies, operating at the nexus of linguistics & statistics drawing on vast experience in investment banking and hedge fund settings in senior quantitative and fundamental roles.  

TMI Data Science was founded by Elan Gore, an award-winning Senior Global Basic Materials Equity Analyst & China Economist with 15 years of experience in North American hedge funds & institutional managers; and Alessandro Porrino, Ph.D., an Algorithmic Trading Analyst and Programmer with 10 years of front-office experience ranging from complex FX option pricing to auto-hedging strategies at Bank of America Merrill Lynch and Standard Chartered.  Mr. Gore holds an MBA in Finance from New York University Stern School of Business, and Mr. Porrino holds a Ph.D. in Systems Engineering from Brunel University London.

Cross Asset Strategy

<ul>
<li>Our US Defense Composite Indicator is showing signs of bottoming following pre-election uncertainty; the indicator is strongly correlated with defense prime equity relative returns</li>
<li>The momentum of decline was arrested immediately post-elections as "Blue Wave" predictions failed to materialize, followed on by Biden's announcement of a relatively hawkish Pentagon transition team</li>
<li>Cyclical rotation and an October lull in Department of Defense contracting may have magnified the negative trend, but incoming data suggests the worst may be over</li>
<li>In October, our Hydrogen Economy Sentiment Indicator took a hit as the Nikola (NKLA) scandal unfolded and the GM/NKLA partnership was in doubt</li>
<li>Following some volatility in key hydrogen economy equities, our indicator surged in the MTD on a barrage of positive news flow from multiple auto &amp; truck players, as well as hydrogen infrastructure news; though "Blue Wave" expectations of a supercharged renewables push were initially questioned, the theme resumed its rally in November </li>
</ul><div class="content-highlight"><p>TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. </p></div>


Our US Defense Composite Indicator is showing signs of bottoming following pre-election uncertainty; the indicator is strongly correlated with defense prime equity relative returns
The momentum of decline was arrested immediately post-elections as "Blue Wave" predictions failed to materialize, followed on by Biden's announcement of a relatively hawkish Pentagon transition team
Cyclical rotation and an October lull in Department of Defense contracting may have magnified the negative trend, but incoming data suggests the worst may be over
In October, our Hydrogen Economy Sentiment Indicator took a hit as the Nikola (NKLA) scandal unfolded and the GM/NKLA partnership was in doubt
Following some volatility in key hydrogen economy equities, our indicator surged in the MTD on a barrage of positive news flow from multiple auto &amp; truck players, as well as hydrogen infrastructure news; though "Blue Wave" expectations of a supercharged renewables push were initially questioned, the theme resumed its rally in November 
TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. 

TMI Snapshots: US Defense Equity Sentiment Bottoming; Hydrogen Economy Sentiment Surges Again

<ul>
<li>Our text-mined Hydrogen Economy Sentiment Indicator has trended down to negative territory recently, primarily driven by negative <a href="https://www.smartkarma.com/entities/nikola-corp" target="_blank" data-smartkarma-citation="entities:29029:1" rel="noopener">Nikola Corp (NKLA US)</a>  news flow since the September 10 short-seller report, subsequent CEO resignation and uncertainty on the GM partnership</li>
<li>As the hydrogen economy theme gathered momentum this year, platinum prices rallied along as the platinum story was reframed from "death of diesel" to "birth of hydrogen" despite uncertainties on timeframe and ultimate fuel cell platinum demand</li>
<li>Given the strong performance of pure-play hydrogen fuel cell names (such as <a href="https://www.smartkarma.com/entities/ballard-power-systems-inc" target="_blank" data-smartkarma-citation="entities:25813:1" rel="noopener">Ballard Power Systems (BLDP CN)</a> , <a href="https://www.smartkarma.com/entities/plug-power-inc" target="_blank" data-smartkarma-citation="entities:18244:1" rel="noopener">Plug Power Inc (PLUG US)</a> and Bloom Energy (BE US), we cannot argue that the theme has suffered overall from NKLA's crisis; but in the past 90 days, elevated correlations between platinum and NKLA (78%) are hard to ignore</li>
<li>We suspect closure on the GM/Nikola partnership may provide a jolt to the platinum price in either direction; as the platinum market is thin, key alternatives to the commodity include the Aberdeen Standard Platinum Shares ETF (PPLT US), Sibanye-Stillwater (SBSW US) and AngloPlats (AMS SJ)</li>
</ul><div class="content-highlight"><p>TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. </p></div>


Our text-mined Hydrogen Economy Sentiment Indicator has trended down to negative territory recently, primarily driven by negative Nikola Corp (NKLA US)  news flow since the September 10 short-seller report, subsequent CEO resignation and uncertainty on the GM partnership
As the hydrogen economy theme gathered momentum this year, platinum prices rallied along as the platinum story was reframed from "death of diesel" to "birth of hydrogen" despite uncertainties on timeframe and ultimate fuel cell platinum demand
Given the strong performance of pure-play hydrogen fuel cell names (such as Ballard Power Systems (BLDP CN) , Plug Power Inc (PLUG US) and Bloom Energy (BE US), we cannot argue that the theme has suffered overall from NKLA's crisis; but in the past 90 days, elevated correlations between platinum and NKLA (78%) are hard to ignore
We suspect closure on the GM/Nikola partnership may provide a jolt to the platinum price in either direction; as the platinum market is thin, key alternatives to the commodity include the Aberdeen Standard Platinum Shares ETF (PPLT US), Sibanye-Stillwater (SBSW US) and AngloPlats (AMS SJ)
TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. 

TMI Snapshot:  Platinum Price Hostage to Nikola?

United States

Nikola Corporation operates as a zero-emissions transportation and infrastructure solution provider. The Company is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

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Nikola Corp (NKLA US)

Weekly Innovation Review (WIRE) #48

Headline Developments Coinbase (COIN) is under scrutiny from the SEC, receiving a subpoena from the regulator relating to its yield-generating...

Granite Bay Capital

Weekly Innovation Review (WIRE) #43

Headline Developments: China has likened online computer games to opium, causing shares in Tencent (700.HK) and NetEase (9999.HK) to drop 10% and...

Granite Bay Capital

Texas Weather Deals Second Blow to Automotive Chip Supply Chain

A chip shortage is preventing the automotive industry from returning to full volume. Meanwhile Japan's earthquake and bad weather in Texas are...

Jim Handy

TMI Snapshots: US Defense Equity Sentiment Bottoming; Hydrogen Economy Sentiment Surges Again

We see clear signs of a bottom forming in US defense equities with a split government and hawkish Biden Pentagon transition team. In addition, our...

Elan Gore

TMI Snapshot: Platinum Price Hostage to Nikola?

A key driver of the 2020 platinum rally has been increased optimism on hydrogen fuel cell technology. We observe outsized correlations between...

Elan Gore

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