Seeking Alpha Author Ranjit Thomas joins Cheddar to discuss why he's shorting Broadcom. The semiconductor company has a market cap of $108 billion, yet Thomas believes its share price will drop as much as 30 percent.
Thomas explains that Broadcom is disingenuous in the way it reports its GAAP profits. Reports, he says, aren't being presented to investors in a way that accurately reflects reality. He says it's not considered fraud, but it will eventually cause a collapse in the business.
Plus, Thomas doesn't believe its bid for Qualcomm will be successful. He says Broadcom has built a business on acquisitions and now that it's so big, it needs to set its sights on bigger companies. However, Qualcomm is embroiled in a legal suit with Apple, and Thomas thinks that won't bode well for Broadcom.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
