In today’s briefing:
- M&A Battle for TaylorMade
- HMM Tender Side Play: Targeting a Basis Squeeze Ahead of Sep Expiry
- Trading Halt on 79 NXT Stocks in Korea: Screening Key Names to Watch for Spread Plays
- CPNG Is Focusing On AI, Automation, & The Robotics Revolution; Will It Pay Off?
M&A Battle for TaylorMade
- TaylorMade is up for sale. TaylorMade is one of the most valuable, golf equipment brands globally.
- We labeled this article as Bearish due to concerns about F&F getting into this M&A battle for TaylorMade in the first place which could result in overpaying for this deal.
- We would rather have F&F take the win and provide higher returns to its shareholders.
HMM Tender Side Play: Targeting a Basis Squeeze Ahead of Sep Expiry
- Most traders are starting in September, rolling into October. Sep/Oct spread volume has picked up unusually fast, clearly reflecting hedge demand linked to the tender
- As September expiry approaches, basis-squeeze risk rises, likely pushing September cheap and October expensive, widening the spread — creating a clear side trade opportunity.
- With a basis squeeze expected near September expiry, we could enter a Sep/Oct spread (short Sep, long Oct) and also watch for spot-futures decoupling to play the cash-futures spread.
Trading Halt on 79 NXT Stocks in Korea: Screening Key Names to Watch for Spread Plays
- NXT’s halt will be live tomorrow, likely shaking local flows. With 15–20% tape share, blocked tickers spill to KRX, thinning books, widening spreads, and hitting retail-heavy liquidity.
- When NXT goes dark, books thin, fills slip, and prices swing sharply — widening spreads and creating risk (or alpha) in retail-heavy tickers for short-term or intraday trades.
- Below is a hit list of 500B+ KRW stocks where NXT takes 40%+ volume — watch these Phase 1 tickers as trading halts shake up flow and spreads.
CPNG Is Focusing On AI, Automation, & The Robotics Revolution; Will It Pay Off?
- Coupang’s second-quarter 2025 earnings highlighted several key aspects of the company’s performance, illustrating both positive developments and ongoing challenges.
- On the positive side, Coupang reported a strong revenue growth of 16% year-over-year, or 19% in constant currency, reaching $8.5 billion.
- This revenue increase was largely driven by the Product Commerce segment, which experienced a gross profit margin expansion of 230 basis points to 32.6%, alongside an 80 basis point increase in adjusted EBITDA margins to over 9%.
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