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.
Shaquille O’Neal and Allen Iverson once clashed on the court in the 2001 NBA Finals, but now the basketball legends are joining forces to revive the Reebok brand they helped make iconic.
Midea is voluntarily recalling about 1.7 million of its popular U and U+ Smart air conditioners because pooled water in the units may not drain fast enough, leading to mold growth.
Jeremy Fox-Geen, the Chief Financial Officer at Circle, joins Cheddar for a one-on-one interview as the company's stock surges on its first day of trading.
A unanimous Supreme Court has made it easier to bring lawsuits over so-called reverse discrimination, siding with an Ohio woman who claims she didn’t get a job and was demoted because she's straight.
