How many stocks should you hold?
Taking Stock on Wednesday 31st November 2023
Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:
How many stocks should you hold?
What Is Diworsification?
Diworsification is the process of adding investments to a portfolio in such a way that the risk-return tradeoff is worsened. Diworsification occurs from investing in too many assets with similar correlations that add unnecessary risk to a portfolio without the benefit of higher returns.
Companies discussed on “Taking Stock” today:
Next #NXT 04:30 & 24:50
Angling Direct #ANG 06:05
Baron Oil #BOIL 13:15
Upland Resources #UPL 13:36
Cab Payments #CABP 14:07
Destiny Pharma #DEST 14:50
Oxford Metrics #OMG 15:50
Creo Medical #CREO 18:20 & 34:29
United Oil & Gas #UOG
Prospex Energy #PXEN 20:22
ASOS #ASC 21:35
McBride #MCB 28:24
Vianet #VNET 30:24
Aston Martin #AML 31:28
Atlantic Lithium #ALL 35:00
Tesla $TSLA 36:20
TOP BUSINESS STORIES
House prices in surprise October rise but still down on last year
House prices had the biggest monthly rise in October for more than a year, according to the Nationwide.
However, they were still down sharply on a year ago, the UK's biggest building society said.
The 0.9% rise in prices was most likely due to there not being enough properties to meet demand, it said.
Activity in the housing market is still "extremely weak", it added, as buyers grapple with higher mortgage rates.
UK factories struggle in October in latest downturn sign - PMI
Britain's factories suffered a worse October than previously thought, according to a survey published a day before the Bank of England is expected to restate its intent to keep interest rates high, despite widespread signs of an economic slowdown.
The final reading of the S&P Global/CIPS manufacturing Purchasing Managers' Index (PMI) stood at 44.8, down from an early estimate of 45.2.
Although the main activity index was up from 44.3 in September, the output component contracted for an eighth consecutive month, the longest such run since the global financial crisis of 2008-09.
WeWork: reports say firm is filing for bankruptcy
Troubled office-sharing firm WeWork may file for bankruptcy as early as next week, according to US media reports.
The firm was once seen as the future of the office. But it has been plagued by problems, including a disastrous attempt in 2019 to sell shares to the public and the exit of its co-founder.
The company was also hit hard by the pandemic, as more people started working from home.
WeWork is considering filing for bankruptcy in New Jersey, according to the Wall Street Journal, which first reported the story.
Earlier on Tuesday, the company told the US financial regulator it had agreed with creditors to temporarily postpone payments for some of its debt.
WeWork shares fell by more than 40% in after-hours in New York trading on Tuesday.
The firm, which was valued at roughly $47bn (£38.7bn) at its height in early 2019, has lost almost 98% of its stock market valuation in the last year.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.