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  • IPOX  100 U.S. (ETF: FPX) most resilient; dodges most downside recorded by U.S. equity benchmarks for 2nd week.
  • IPOX Regional Exposure in focus: IPOX Nordic Core.
  • IPO Deal-flow Review & Outlook: PIMCO postpones its $1 billion Mortgage REIT (PMTG US) IPO, Private equity backed debt-heavy chemicals/materials maker Avantor (AVTR US) climbs on debut, Bicycle Therapeutics (BCYC US) lined up.

IPOX  100 U.S. (ETF: FPX) most resilient; Dodges most downside recorded by U.S. equity benchmarks for 2nd week. The key IPOX Indexes finished May options expiration week categorized by a) big news-driven sentiment swings in the generally weak U.S. equity benchmarks (VIX: -0.50%) and b) lower U.S. yields driven by trade stalemate underpinned by solid U.S. economic data on Top of the weekly equities performance rankings. E.g., amid positive weekly fund flows into the ETF, the FANG-free, diversified, large-cap centric IPOX 100 U.S. (ETF: FPX) declined by just -0.29% to +22.09% YTD, extending the YTD relative performance jump vs. the S&P 500 (SPX) – benchmark for U.S. stocks – by +47 bps. to +802 bps. YTD. Relative strength extended to other world regions with a notable jump in the IPOX Nordic Core (IPND). Here, the portfolio added +1.11% to +18.28% YTD last week, now +1179 bps. ahead of the Nordic market YTD. IPOX-held social media exposure including Snap (SNAP US: +9.53%) and Match Group (MTCH US) stood out in the U.S. Portfolio (ETF: FPX), while German battery maker Varta (VAR1 GY: +10.82%) and French vehicle services provider Ald (ALD FP: +9.36%) ranked top in the European portfolio (ETF: FPXE). Software maker Greensky (GSKY US: -15.56%), personal shopping platform operator Stitch Fix (SFIX US: -12.56%) and Spin-off Baxalta/Shire buyer big pharma Takeda (TAK US: -11.68%) weighed on IPOX portfolio returns.

IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.  

Performance Update for IPOX-linked Funds: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) fell -0.29% to finish last week at +22.42% YTD, while the IPOX International (IPXI)-linked 4-star (3-years) First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +14.64% YTD and +17.85% YTD, respectively. Amongst actively managed IPOX-linked funds, the Catalyst IPOX® Allocation Fund (OIPAX) – a 2019 Thomson Lipper Award Winner – climbed to +20.82% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) -0.61 -11.37 18.48
IPOX® International (IPXI)* (USD) -1.06 -13.41 12.60
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* -0.89 -7.59 15.89
IPOX® 100 U.S. (IPXO)* -0.29 -8.80 22.09
IPOX® 30 U.S. (IPXT) -0.43 -10.28 17.28
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) 1.68 -13.46 18.66
IPOX® Nordic (IPND) 1.11 -15.45 18.28
IPOX® 100 Europe (IPOE)* (USD) 0.18 -16.60 15.79
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -0.97 -3.21 1.67
IPOX® China (CNI) (USD) -3.36 -22.83 7.09
IPOX® Japan (IPJP)** (JPY) -1.24 -13.70 1.64

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: PIMCO postpones its $1 billion Mortgage REIT (PMTG US) IPO, Private equity backed debt-heavy chemicals/materials maker Avantor (AVTR US) climbs on debt, Peloton Therapeutics (PLTN US) lined up. At least 9 firms debuted last week, with the average (median) equally weighted stock adding (decreasing) +6.66% (-0.59%) based on the difference between the final offering price and Friday’s close. Amid the market volatility, PIMCO postponed the largest-ever Mortgage REIT IPO. Among IPOs that pushed forward, the year’s 2nd largest deal, private equity-backed chemicals/materials maker Avantor (AVTR US: +3.57%) climbed after reducing size and pricing towards the low-end. While downsized USPS REIT Postal Realty Trust (PSTL US: -0.59%) fell, select small specialty IPOs rose strongly, including BlackRock-backed Chinese coffee chain startup Luckin Coffee (LK: +19.88%) and cloud platform developer Fastly (FSLY US: +49.94%). Abroad, UAE-based foreign exchange service provider Finablr (FIN LN: -2.29%) stumbled on its below-range London debut. Ahead of the shortened U.S. trading week, IPO activity is set to slow with three biotech small-cap IPOs lined up, including Nobel Laureate Sir Greg Winter co-founded Bicycle Therapeutics (BCYC US).  More IPO talks include Volkswagen’s TRATON truck unit, cybersecurity unicorn CrowdStrike (CRWD US), Israeli freelance marketplace startup Fiverr (FVRR US), Walmart’s British supermarket unit Asda, and discounted supermarket chain Grocery Outlet (GO US). We also note that Brazilian meat exporter Minerva Foods postponed its Chilean unit Athena Foods’ IPO due to escalating trade tensions.


The post The IPOX® Week, May 20, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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Many common questions that we receive from active traders are the features that are available on the Lightspeed Trader Platform. Our support staff is always happy to answer any questions that traders may have or provide a one-on-one personalized demo.

Below are some common questions that we receive about the platform:

How to Link Windows

In this trading tutorial, active traders are walked through how to link windows on the Lightspeed Trader platform. This can be done for any chart or order entry window to a specific level 2 quote window on the platform. Each trader has their own personal preference, so traders have the ability to link multiple charts, with different time frames to the same window or linking to an order entry window. They can also set up multiple link groups so that they can look at multiple quotes and charts at the same time.

How to Link Windows in the Lightspeed Trader Platform - YouTube

Opening and Saving Layouts

Traders have the ability to open a few different default layouts saved within the platform. Often traders will start with a predefined layout and then make changes to suit their trading style. Once they have the layout set the way they want, it can be saved to the desktop for future use. Traders can also save multiple layouts to their computer and then move between those layouts. In this tutorial, traders will view the step by step process to open and then save a layout.

How to Open and Save Layouts on the Lightspeed Trader Platform - YouTube

Creating a Custom Stop Closeout Order

Creating a custom stop closeout order allows active traders to quickly place an order on the platform. These custom stop closeout orders can be set up  based upon a traders preference, so the tool is easily customized. Watch the video below to learn how to set up a custom stop closeout order on the platform or contact our support team with any questions.

How to Create a Custom Stop Closeout Order on Lightspeed Trader - YouTube

Locating Stock for Short Selling

Finding a security to short on the Lightspeed Trader platform can be done in just a few easy steps. When logged into the platform, active traders can do this by typing a symbol in the quote window. A code is displayed on the right side of the quote window. These codes represent the ease or ability to borrow a specific security. The video below goes into further detail about how to locate a stock for short selling on the Lightspeed Trader platform.

How to Locate Stock for Short Selling on Lightspeed Trader - YouTube

Creating a Custom Order

Lightspeed Trader has custom order functionality that allows users to create custom orders needed for their unique trading strategy. In this trading tutorial, active traders are walked through how to put in the details for an order.

How to Create Custom Orders on Lightspeed Trader - YouTube

Creating a Custom Order Using Hot Keys and Hot Buttons

Lightspeed Trader also has custom order functionality that allows the user to create custom hot keys and hot buttons that cater to a trader’s unique trading strategy. These can be set up on the Lightspeed Trader menu bar through the configuration settings. Watch the videos below as traders are walked through their step by step guide.

Creating a Custom Order Using Hot Keys on Lightspeed Trader - YouTube

Creating a Custom Order Using Hot Buttons on Lightspeed Trader - YouTube

Additional Education Opportunities

Are you looking for additional education from Lightspeed? Visit the Trading Education Center for additional videos, a glossary of terms, and upcoming webinars. Traders can also speak to a representative about the Lightspeed Trader platform by calling us at 1-888-577-3123, emailing sales@lightspeed.com, or requesting a demo.

The post Trading Tutorials Available on the Lightspeed Trader Platform appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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  • IPOX  100 U.S. (ETF: FPX) dodges most of the big downside recorded by U.S. equity benchmarks on strong earnings.
  • Big relative strength extends to IPOX 100 Europe (ETF: FPXE).
  • IPO Deal-flow Review & Outlook: Uber (UBER US) investors leave USD million 617 “on the table” by not buying on the first close. PIMCO Mortgage REIT (PMTG US), Avantor (AVTR US) set to kick off another busy week for U.S. IPOs.

IPOX  100 U.S. (ETF: FPX) dodges most of the big downside recorded by U.S. equity benchmarks on strong earnings. Ahead of May option expiration week, the key IPOX Indexes finished the week categorized by a) huge sentiment-driven swings in global equities (VIX: +24.63%) and b) lower U.S. yields driven by trade uncertainty on top of the weekly global equities performance rankings. In the U.S., e.g., the FANG-free, diversified, large-cap centric IPOX 100 U.S. (ETF: FPX) fell just -0.98% to +22.45% YTD, extending the YTD relative performance jump vs. the S&P 500 (SPX) – benchmark for U.S. stocks – by +120 bps. to a large +751 bps. YTD. Relative strength extended to the IPOX 100 Europe (ETF: FPXE) which declined by just -0.55% to +15.58% YTD, extended its YTD performance lead vs. the European market by a massive +255 bps. to +585 bps YTD.  Earnings & corporate actions drove the good relative showing, including enabled devices maker Roku (ROKU US: +27.27%), software maker Atlassian (TEAM US: +16.72%), Spin-off M&A pharma maker Takeda (TAK US: +7.79%), German real estate play Vonovia (VNA GY: +6.67%) or Italian luxury car maker Ferrari (RACE US: +5.36%). Disappointing results by mostly high-beta momentum IPOs including application software maker Sailpoint (SAIL US: -30.74%), chemicals maker Spin-off Covestro (1COV GY: -9.27%) and German chip maker Siltronic (WAF GY: -8.22%) weighted on portfolio returns.

IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.

Performance Update for IPOX-linked Funds: Amid the gyrations in the global benchmarks, the IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) declined by -0.96% to close at +22.69% YTD, while the IPOX International (IPXI)-linked 4-star (3-years) First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +15.84% YTD and +18.70% YTD, respectively. Amongst actively managed IPOX-linked funds, the Catalyst IPOX® Allocation Fund (OIPAX) – a 2019 Thomson Lipper Award Winner – finished at +21.33% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) -1.37 -11.37 19.21
IPOX® International (IPXI)* (USD) -1.87 -13.41 13.81
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* -2.29 -7.59 16.93
IPOX® 100 U.S. (IPXO)* -0.98 -8.80 22.45
IPOX® 30 U.S. (IPXT) -1.18 -10.28 17.79
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) -1.31 -13.46 16.70
IPOX® Nordic (IPND) -1.27 -15.45 16.99
IPOX® 100 Europe (IPOE)* (USD) -0.55 -16.60 15.58
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 1.07 -3.21 2.66
IPOX® China (CNI) (USD) -5.85 -22.83 10.82
IPOX® Japan (IPJP)** (JPY) -1.22 -13.70 2.92

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: Uber (UBER US) investors leave USD million 617 “on the table” by not buying on the first close. Mortgage REIT (PMTG US), Avantor (AVTR US) set to kick off another busy week for U.S. IPOs. At least 18 firms debuted last week, with the average (median) equally weighted stock adding +7.38% (+3.68%) based on the difference between the final offering price and Friday’s close. Highly anticipated ride sharing platform operator Uber (UBER US: -7.16%) flopped on its debut amid investor doubts and volatile markets, leaving syndicate IPO investors with a cumulative loss of USD million 617, while Cambridge, MA-based liver diseases focused biotech Axcella (AXLA US: -30.40%) also dropped significantly. Strong gains were recorded by IT services provider Parsons (PSN US: +14.85%), Russian recruitment platform HeadHunter (HHR US: +24.07%), microcap Chinese online lending platform Jiayin (JFIN US: +53.81%) and Alzheimer’s treatment developer Cortexyme (CRTX US: +40.35%). Abroad, the largest tech IPO in Australia – U.S. family tracking app operator Life360 (360 AU: +10.86%) – also celebrated a successful first week of listing. Deals lined up for this week include REIT PIMCO Mortgage Income (PMTG US), Private Equity-backed chemical manufacturer and lab equipment supplier PA-based Avantor (AVTR US), infrastructure software maker CA-based Fastly (FSLY US), as well as Starbucks’ (SBUX US: +0.95%) Chinese rival Luckin Coffee (LK US). We note that workplace communication app Slack (SK US) is also set to commence its roadshow for its upcoming direct listing this week.


The post The IPOX® Week, May 13, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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  • IPOX 100 U.S. (ETF: FPX) outpaces S&P 500 (SPX) to close at historic weekly high. IPOX China (CNI) adds to YTD gains.
  • Visit IPOX at the Morningstar Investment Conference (MIC).
  • IPO Deal-flow Review & Outlook: Vegan meat unicorn Beyond Meat (BYND US) leaves USDm 392 on the table by “underpricing” its IPO. U.S. IPO bonanza continues with Uber (UBER US) marking historic offering.

IPOX  100 U.S. (ETF: FPX) outpaces S&P 500 (SPX) to close at historic weekly high as data underline U.S. Goldilocks economy. IPOX China (CNI) adds to YTD gains.  Amid a volatile FED week in U.S. equities (VIX: +1.10%) which ended with Markets re-focusing on the underlying economic strength and low rates, the IPOX 100 U.S. (ETF: FPX) recovered from big intra-week swings to close the week at yet another fresh historic weekly high, adding +0.88% to +23.55%, now +616 bps. ahead of the U.S. market YTD. With 34 portfolio holdings (18.63% of weight) lined up to report earnings this week, big gains in specialty holding drove the good weekly showing, including infrastructure construction firm Arcosa (ACA US: +21.29%), software maker Alteryx (AYX US: +13.38%) and online ride sharing services firm Lyft (LYFT US: +9.21%), while weakness in security software provider Tenable (TENB US: -11.12%), high-end camping goods maker Yeti (YETI US: -9.79%) or Spin-off Ingevity (NGBT US: -9.26%) capped the gains. We also note the big outsized weekly returns in the IPOX China (CNI) which rose on a jump in online credit provider Qudian (QD US: +26.86%), logistics services provider BEST (BEST US: +14.58), as well as online shopping platform operator Pinduoduo (PDD US: +9.31%).

IPOX to exhibit at this year’s MIC (May 8-10), Chicago. Come and visit the IPOX Booth (#369) to receive our latest updates.

IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.

Performance Update for IPOX-linked Funds: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) rallied to closed at +23.96% YTD, while the IPOX International (IPXI)-linked 4-star (3-years) First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +17.79% YTD and +18.88% YTD, respectively. Amongst actively managed IPOX-linked funds, the Catalyst IPOX® Allocation Fund (OIPAX), a 2019 Thomson Lipper Award Winner, finished at +22.30% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 1.26 -11.37 20.87
IPOX® International (IPXI)* (USD) 1.41 -13.41 15.98
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* 0.64 -7.59 19.67
IPOX® 100 U.S. (IPXO)* 0.88 -8.80 23.66
IPOX® 30 U.S. (IPXT) 0.98 -10.28 19.19
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) -1.05 -13.46 18.25
IPOX® Nordic (IPND) -0.11 -15.45 18.51
IPOX® 100 Europe (IPOE)* (USD) 0.20 -16.60 16.22
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -0.04 -3.21 1.58
IPOX® China (CNI) (USD) 2.21 -22.83 17.70
IPOX® Japan (IPJP)** (JPY) 0.00 -13.70 4.19

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: Vegan meat unicorn Beyond Meat (BYND US) leaves USDm 392 on the table by “underpricing” its IPO. U.S. IPO bonanza continues with Uber (UBER US) marking historic offering. At least 7 IPOs debuted last week, with the average (median) equally-weighted firm adding a big +44.86% (+28.64%) based on the difference between the final offering price and Friday’s close. Bill Gates/Leonardo DiCaprio-backed plant-based meat marker Beyond Meat (BYND US: +167.16%) skyrocketed to rank as the best IPO thus far this year, leaving USDm 392 “on the table”. Chinese membership-based e-commerce unicorn Yunji (YJ US: +28.64) also jumped, while casino games developer, Scientific Games (SGMS US: +1.02%) Spin-off SciPlay (SCPL US: -4.69%), fell. The U.S. bonanza is set to continue with at least 12 firms lined up to “go public” this week: Amid its reduced valuation and recent PayPal (PYPL US: +1.28%)-backing, global ride sharing operator Uber (UBER US) ranks top of the list. We also note the IPO of U.S. government contractor technology provider Parsons (PSN US), online recruitment platform, Moscow-based HeadHunter (HHR US), and Australia’s largest tech IPO since 2016, U.S. family locator app Life360 (360 AU). Moreover, the IPO of REIT Postal Reality Trust (PSTL US) ranks as the first significant IPO of a U.S. REIT YTD.

Track Priced & Upcoming IPOs on https://ipox.com

The post The IPOX® Week, May 06, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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By: Spencer Israel

All the “big tech” companies that Wall Street commonly groups together have now reported earnings for the January quarter. Let’s take a look at the results.

Apple ($AAPL)

The Good: Pretty much everything. Earnings Per Share beat estimates. Revenue beat estimates. Sales guidance beat estimates. Services revenue also beat estimates. On top of that, the company added $75 billion to its buyback program and raised the quarterly dividend from $0.73/share to $0.77/share.

The Bad: As expected, iPhone sales were light. Apple made $31.05 billion from iPhone sales last quarter, down 17% year-over-year.

The Grade: A+—Apple blew this one out of the water. Even with growth slowing in their largest segment, Tim Cook said on the conference call “We’re certainly feeling a lot better than we were 90 days ago.” The company briefly topped a $1 trillion valuation after hours.

Amazon ($AMZN)

The Good: Amazon beat expectations on both EPS and sales for the quarter. Its heavy hitter, Amazon Web Services, saw revenue rise 41% year-over-year to $7.7 billion. It continues to be Amazon’s bread and butter. The company also touted that Amazon Fire TV has 30 million active users.

The Bad: There’s not a lot you can point to as being “bad” from this report. It was pretty stellar across the board. If you want to be nitpicky, Raymond James pointed out that unit growth decelerated—but even that was due to the company’s very strong fourth quarter.

The Grade: A—CFO Brian Olsavsky saved his biggest surprise for the conference call, during which he said they are aiming to provide free one-day shipping for all Amazon Prime customers. Your move, Walmart.

Microsoft ($MSFT)

The Good: Microsoft handedly beat expectations for both EPS and sales and reported that increased demand for Azure drove cloud revenue up 41% year-over-year to $9.6 billion.

The Bad: Same story as Amazon—there just simply isn’t a lot to hate in this report. Video gaming revenue only grew 5%, but that’s such a small part of this story right now.

The Grade: A—Canaccord Genuity’s Richard Davis called the report “Boringly excellent.” Shares are up 4% as the stock continues to make new all-time highs.

Facebook ($FB)

The Good: Facebook beat expectations on revenue, generating $15.08 billion vs. a $14.98 billion estimate. Daily active users (DAUs) and Monthly Active Users (MAUs) both came in in-line, rising 8% on a year-over-year basis. Mark Zuckerberg also highlighted Facebook’s Stories feature, which have reached 500 million daily active users (take that, Snapchat).

The Bad: Facebook’s Q1 EPS number was not comparable to estimates. Why? Because of a one-time charge related to the ongoing inquiry by the Federal Trade Commission. The company said it cost them $3 billion in the first quarter, but that it could end up costing as much $5 billion.

The Grade: B+ —Privacy concerns aside, Facebook showed investors that it just keeps on growing. A 6% post-earnings rally has the stock at its highest levels since late-July.

Netflix ($NFLX)

The Good: Netflix beat Wall Street’s expectations across the board, coming in higher on EPS, revenue, domestic subscriber additions, and international subscriber additions. The company now has more than 148 million subscribers worldwide.

The Bad: If there’s anything not to like it’s the company’s Q2 guidance, which was a little light. Netflix sees Q2 EPS of $0.55, which may not compare to the $0.99 estimate, and sales of $4.928 billion vs a $4.95 billion estimate.

The Grade: B—This was a mostly good report, with the company showing continued growth and brushing off concerns about Disney+. Analysts have maintained their current ratings on the stock, showing that the report wasn’t good or bad enough to change anyone’s mind.

Though traders initially hit the stock down to $326, shares have rallied back to where they’ve spent most of the year.

Alphabet ($GOOGL)

The Good: This report was…not great. The best thing you can do is to put things in perspective. This was an objectively bad quarter, but the company is still a behemoth and Google is still one of the two dominant players in the digital advertising space. Plus, as CNBC pointed out, they will stand to profit significantly from their 5% stakes in both Uber and Lyft.

The Bad: Alphabet reported EPS and sales lower than analysts were expecting. Growth slowed across several major metrics, most notably ad sales, which rose 15% compared to 24% in 2018. All of this on top of a $1.7 billion fine the company paid to the European Union.

The Grade: C—This marks the second straight disappointing quarter for Alphabet. The stock closed down 7.5% in the first day after the report.

The author holds no positions in any of the stocks mentioned.

Active Trading with Lightspeed

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For more information on a professional trading platform with Lightspeed, please call us at 1-888-577-3123, request a demo or to open an account.

The post Big Tech Earnings Report Card: The Good, The Bad, And the Grades appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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  • IPOX Indexes rise toward month-end. IPOX 100 U.S. (ETF: FPX) closes at fresh all-time high. Select IPO M&A in focus.
  • 32% of IPOX 100 U.S. Index weight set to report this week.
  • IPO Deal-flow Review & Outlook: Chinese brokerage veteran Shenwan Hongyuan (6806 HK) slipped after H.K. debut. U.S. set for busy IPO week. Ahead of Uber and Slack, Beyond Meat (BYND US) IPO lined up.

IPOX Indexes rise toward month-end. IPOX 100 U.S. (ETF: FPX) closes at fresh all-time high. Select IPO MA& in focus.  Amid solid U.S. economic data, a firm US Dollar supporting U.S. yields and mixed earnings for select U.S. large caps elevating (Nasdaq) risk (VIX: +5.29%), the IPOX Indexes closed the week with strong gains.  Most upside focus was on IPOX Developed Markets exposure, which rose and outperformed respective benchmarks. In the U.S., e.g., the IPOX 100 U.S. (ETF: FPX) added +2.32% to +22.58% YTD to finish the week at an all-time high, ranking as the best performing diversified U.S. equity benchmark last week, and reversing weakness during April option expiration week. In the IPOX 100 U.S. (ETF: FPX), 76% of portfolio holdings rose on the week, with most upside focus on specialty holdings including biotech Allogene Therapeutics (ALLO US: +15.03%), cloud storage provider Dropbox (DBX US: +14.59%) or application software maker Coupa Software (COUP US: +13.31%). We note another fresh all-time high in IPO M&A chocolate maker Hershey (HSY US: +7.03%) after blockbuster results. The firm had entered the IPOX 100 U.S. (ETF: FPX) portfolio through its acquisition of IPOX U.S. holding Amplify Snack Brands (BETR US).  Driven by significant outsized earnings surprises by portfolio holdings, including casino and gaming solutions provider Evolution Gaming Group (EVO SS: +25.26%), we continue to note big absolute and relative upside in the innovation-focused IPOX Nordic (IPND).

IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.

Performance Update for IPOX-linked Funds: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) closed at a fresh record, up +22.79% YTD, while the IPOX International (IPXI)-linked 5-star First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +15.35% YTD and +17.49% YTD, respectively. Amongst actively managed IPOX-linked funds, the Catalyst IPOX® Allocation Fund (OIPAX), a 2019 Thomson Lipper Award Winner, climbed to +21.16% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 1.25 -11.37 19.37
IPOX® International (IPXI)* (USD) 0.30 -13.41 14.36
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* 1.26 -7.59 18.91
IPOX® 100 U.S. (IPXO)* 2.32 -8.80 22.58
IPOX® 30 U.S. (IPXT) 1.60 -10.28 18.04
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) 1.69 -13.46 19.50
IPOX® Nordic (IPND) 1.57 -15.45 18.64
IPOX® 100 Europe (IPOE)* (USD) 1.24 -16.60 15.99
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 1.37 -3.21 1.61
IPOX® China (CNI) (USD) -2.14 -22.83 15.16
IPOX® Japan (IPJP)** (JPY) 0.99 -13.70 4.19

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: Chinese brokerage veteran Shenwan Hongyuan (6806 HK) slipped after H.K. debut. U.S. set for busy IPO week. Ahead of Uber and Slack, Beyond Meat (BYND US) IPO lined up. 2 firms debuted across global regions last week, with the average equally-weighted firm declining by -3.42% based on the difference between the final offer price and Friday’s close. The largest offering in Asia this year, the H-share listing of Chines broker Shenwan Hongyuan (6806 HK: -11.85%) finished below offer. Meanwhile, amid solid demand, the very first IT firm listed in Saudi Arabia, Al Moammar Information Systems (MIS AB: +5.00%) rose. IPOs in the U.S. are set to gain center-stage with at least seven firms seeking to go public. Top of the list ranks Bill Gates backed plant-based meat producer Beyond Meat (BYND US), followed by Las Vegas-based Scientific Games (SGMS US: -4.85%) spin-off, casino game developer SciPlay (SCPL US) and Chinese startup membership-based e-commerce platform operator Yunji (YJ US). Last week, Uber (UBER US) updated its IPO filing, adding key IPOX 100 U.S. (ETF: FPX) holding payment processor PayPal (PYPL US: +2.79%) as a cornerstone investor, and valuing the firm at $84.0 billion. Office collaboration app Slack (SK US) also updated its schedule to list, following the direct listing path pursued by Spotify (SPOT US: -0.92%), while Starbucks’ (SBUX US: +1.87%) Chinese rival Luckin Coffee (LK US) also disclosed its U.S. IPO plan.

Track Priced & Upcoming IPOs on https://ipox.com


The post The IPOX® Week, April 29, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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By: Spencer Israel

The number of big-name IPOs have grabbed headlines and investor attention in the past few weeks.

As of April 23, there have been 34 IPO pricings in 2019. And while that number is down slightly from last year, the fact that a significant portion of the unicorns expected to go public have either done so or at least begun the process has Wall Street buzzing.

Three unicorns—Lyft ($LYFT), Pinterest ($PINS), and Tradeweb Markets ($TW)-have completed the IPO process so far this year, and another three—Uber, Slack, and Postmates—are expected to do the same in the near future. For context, 2018 had only five unicorn IPOs.

This relative influx of large IPOs makes this a good time to remember the two most important dates to be aware of after a company goes public: the quiet period expiration and lockup expiration.

Quiet Period

In the context of IPOs, companies are subject to a quiet period both before and after the IPO date. For company executives, this is an SEC-mandated period of 40 days in which they are prohibited from offering new information that isn’t already available to the public via the S-1 filing.

There’s also a quiet period in terms of research reports that can be released about an IPO. While there is no set deadline, sell-side analysts whose firms participated in the IPO underwriting process typically do not publish anything for 20-30 days after the IPO date. The purpose of this is to prevent the potential conflict of interest of a bank disseminating positive opinions about a stock having just been allocated a piece of the IPO.

Once this analyst quiet period is up, it’s not unusual for most major underwriters to come out with research reports and ratings on the same day. In the case of the largest IPOs, like Lyft below, some of the largest banks on Wall Street helped underwrite the offering. Oftentimes, the influence that these banks carry on Wall Street, combined with the sheer quantity of research being made public can drive a stock higher or lower.

On the morning that Lyft’s analyst quiet period ended, the stock opened up nearly 2% on no other news.

Lyft’s quiet period ended on April 23, 2019, after which 11 underwriters-initiated sell-side coverage of the stock.

Lockup Expiration

We’ve written before about lock-up expirations and how to trade them. Lock-ups are the period in which company insiders (including executives and those that were allocated shares of the IPO) are forbidden from selling their shares on the public markets.

Most IPOs have a lock-up period ranging anywhere from 90-180 days after the offering date, though the exact date can be found in the company’s S-1.

While there’s no guarantee that any insider will sell once the lock-up expires, the fact that they can is enough of a catalyst that entire trading strategies are centered around this. Some companies, like Alibaba ($BABA) and Facebook ($FB), saw added volatility in the days leading up to and after their lock-ups.

The SEC’s Edgar site is a great source to track upcoming lockup expirations.

The author holds no positions in any of the stocks mentioned.

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Lightspeed provides active traders with all the tools required to help them find success in stock trading, and we have been developing and honing our active trader platform to offer the best possible user experience in the marketplace. With the intuitive interface layouts and institutional quality stock and option scanners, we aim to help traders reach their goals, no matter what their strategy is. We also offer our clients some of the lowest trading fees in the industry.

For more information on a professional trading platform with Lightspeed, please call us at 1-888-577-3123, request a demo or to open an account.

The post IPO Investors: Beware the Quiet Period and Lockup Expirations appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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  • Most Indexes fall ahead of earnings as health care stocks, high-beta decline; IPOX China (CNI) gains against trend. 15.39% of IPOX 100 U.S. (ETF: FPX) market cap set to report.
  • IPO Deal-flow Review & Outlook: Euphoric U.S. IPO market faced the busiest week YTD as global IPOs leave USD billion 1.07 “on the table”. Hong Kong to launch the largest IPO YTD – Chinese brokerage veteran Shenwan Hongyuan (6806 HK).

Most Indexes fall ahead of earnings as health care stocks, high-beta decline; IPOX China (CNI) gains against trend. 15.39% of IPOX 100 U.S. (ETF: FPX) market cap set to report. Trading in the global equity indexes was characterized by a big divergence in equity index spreads last week: Trade optimism, stable risk (VIX: +0.67%) & yields – which supported the broad-based large-cap centric indexes (SPX: -0.08%) – did little to support the IPOX Indexes which followed the weak sentiment in U.S. small-caps (RTY: -1.20%) weighed by weakness in U.S. health care on political fears and declines in high-beta exposure on profit taking and analyst caution ahead of earnings. After hitting a fresh all-time high above the key 3400 level mid-week, e.g., the IPOX 100 U.S. (ETF: FPX) consolidated, shedding -1.93% to +19.80% YTD, ranking towards the bottom of the weekly U.S. equity indexes performance rankings. With the exception of the IPOX China (CNI), broad-based declines last week extended to other IPOX Indexes. Notable losses amongst individual portfolio holdings in the IPOX Universe concerned firms including Latin American payments processor StoneCo (STNE US: -24.79%), tech enabled health care services platform operator HealthEquity (HYQ US: -12.17%) or biotech Guardant Health (GH US: -9.07%), while specialty stocks including infrastructure software maker Greensky (GSKY US: +8.71%) and camping goods maker Yeti (YETI US: +5.11%) bucked the weakness.

“FPX” ETF celebrates 13-year Listings Anniversary!

Performance Update for IPOX-linked Funds: Amid the shortened trading week, the IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.1 billion First Trust U.S. Equity Opportunities ETF (FPX) slipped to +19.99% YTD, while the IPOX International (IPXI)-linked 5-star First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +15.68% YTD and +18.03% YTD, respectively. Amongst actively managed funds, the Catalyst IPOX Allocation Fund (OIPAX), a 2019 Thomson Lipper Award Winner, stumbled to +17.61% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) -1.11 -11.37 17.89
IPOX® International (IPXI)* (USD) -1.09 -13.41 14.03
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* -1.57 -7.59 17.43
IPOX® 100 U.S. (IPXO)* -1.93 -8.80 19.80
IPOX® 30 U.S. (IPXT) -1.91 -10.28 16.17
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) -0.41 -13.46 17.51
IPOX® Nordic (IPND) -0.65 -15.45 16.79
IPOX® 100 Europe (IPOE)* (USD) -1.70 -16.60 14.47
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -2.51 -3.21 0.21
IPOX® China (CNI) (USD) 1.43 -22.83 17.67
IPOX® Japan (IPJP)** (JPY) -0.99 -13.70 3.17

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: Euphoric U.S. IPO market faced the busiest week YTD as global IPOs leave USD billion 1.07 “on the table”. Hong Kong to launch the largest IPO YTD – Chinese brokerage veteran Shenwan Hongyuan (6806 HK). At least 12 firms debuted across accessible global regions in this holiday-shortened week, with the average (median) equally-weighted company adding +18.44% (+12.62%) based on the difference between the final offer price and Thursday’s close, leaving a combined USD billion 1.07 “on the table” by underpricing their deals, respectively. Top of the list ranked profitable Silicon Valley unicorn cloud video conferencing software provider Zoom (ZM US: +72.22%) which skyrocketed on its priced above elevated range IPO. Another highly anticipated tech unicorn, digital advertising social network platform Pinterest (PINS US: +28.42%) also lived up to its hype, while Europe’s biggest IPO YTD, Italian payment processor Nexi (NEXI IM: -7.78%), had a rather disappointing start, closing the week below final offer. After a busy week for U.S. IPOs, the U.S. market is set to cool, preparing for the upcoming mega IPO of ride sharing operator Uber (UBER). Focus this week is on the Hong Kong IPO of Chinese securities firm Shenwan Hongyuan (6806 HK), the largest Chinese IPO YTD.

Track Priced & Upcoming IPOs on https://ipox.com


The post The IPOX® Week, April 22, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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By: Spencer Israel

This will go down as the decade where cannabis went from the frontier to the mainstream.

It was only in 2012 that Colorado and Washington became the first two states to legalize recreational marijuana. By 2014, so had Alaska, Oregon, and Washington D.C. By 2016, five more states had done so.

Today, 46 states have some form of cannabis legalization, whether it’s for medicinal or recreational use, and another 8 states are expected to take the issue up this year.

On the federal level however, things remain murky. While there is growing support for the U.S. to join Canada and Uruguay in fully decriminalizing cannabis, a change to the federal law is not imminent. And until that happens, there remains a key issue that is standing in the way of the industry’s growth: banking.

Naturally, as the cannabis market has bloomed over the past few years, so has investor interest. But aside from the legalization question, banking, or lack of it, remains the biggest outstanding issue for the industry right now.

As it stands, most U.S. financial institutions are unwilling to work with cannabis-based businesses due to the federal prohibition. Banks have consistently made this known.

These lack of financial services—and institutional capital that comes with it—has essentially tied the industry down, and forced license producers, operators, and retailers to turn to alternatives like banking in other countries or only accepting cash.

But there is hope.

The 2018 Farm Bill that decriminalized hemp was a major stepping stone for the industry, and there are two key pieces of legislation on the table that could change the game even further.

One, the Strengthening the Tenth Amendment Through Entrusting States Act (or STATES Act), introduced last year in both the House and Senate, would protect businesses operating in states with legal cannabis from federal enforcement. The bill has some bipartisan support, including from Attorney General William Barr, but it’s unclear when it would come up for a vote.

And then there’s the Secure and Fair Enforcement Banking Act, or SAFE Banking Act which would protect financial institutions who work with state-approved cannabis businesses from federal penalties. The House Financial Services Committee voted with bipartisan support on March 28 to approve the bill for a full-body vote, which is likely to take place in the coming weeks. This marks the furthest a cannabis banking bill has ever made it through Congress. A corresponding bill was also introduced in the Senate last week.

Of course, momentum is one thing. Laws are another. More and more companies may be lobbying Congress to make it easier for banks to enter the marijuana market, but whether any legislation can actually get through Washington’s pipes is a whole other issue.

For now, the industry will have to settle for small victories, like Fed Chair Jerome Powell saying he wants more clarity, and Treasury Secretary Steve Mnuchin saying he supports a change.

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The post Cannabis Has A Banking Problem, But A Solution May Be On The Horizon appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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  • “FPX” ETF celebrates 13th listing anniversary with market-beating returns, underlying IPOX 100 U.S. (IPXO) closes out trading week at fresh All-Time High.
  • Takeover announcements for IPOX Holdings continue to roll in.
  • IPO Deal-flow Review & Outlook: U.S. & European IPOs surge on strong demand for specialty firms. Ride-hailing giant Uber officially files to list on the NYSE.

“FPX” ETF celebrates 13th listing anniversary with market-beating returns, underlying IPOX 100 U.S. (IPXO) closes out trading week at fresh all-time high. Ahead of U.S. options expiration week, most IPOX Strategies remained buoyed, as supportive trade & global economic news drove up U.S. yields while a good start to U.S. earning season pushed risk lower (VIX: -6.32%). In the U.S., e.g., the IPOX 100 U.S.  (ETF: FPX) – underlying for the “FPX” ETF – outpaced all other main equity benchmarks to close the week at a fresh All-Time High, gaining +0.50% to +22.16% YTD, in line with the S&P 500 (SPX), yardstick for U.S. stocks. Strength extended to other regions, particularly Europe, with the IPOX 100 Europe (ETF: FPXE) adding +0.69% to +16.28% YTD, outpacing the regional benchmarks as well. Big gains in specialty holdings contributed to the strong showing anew, including Softbank-held biotech Guardant Health (GH US: +10.77%), software maker Okta (OKTA US: +9.69%) or car vending machine operator Carvana (CVNA US: +9.07%), while weakness in U.S. healthcare & biotech stocks, including Regenxbio (RGNX US: -10.51%), Akzea Therapeutics (AKCA US: -9.19%) or Takeda (TAK US: -5.27%) weighed heavily on portfolio returns. Takeover announcements for IPOX Holdings continued to roll in as IPOX 100 Europe (ETF: FPXE) Holding Helsinki-based cable TV services provider DNA (DNA FH: +8.56%) announced a buy-out offer from Norway’s Telecom carrier Telenor (TEL NO: -0.55%).

“FPX” ETF celebrates 13-year Listings Anniversary!

Performance Update for IPOX-linked Funds: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) added to +22.24% YTD, while the IPOX International (IPXI)-linked 5-star First Trust International Equity Opportunities ETF (FPXI) and the IPOX 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) closed the week at +17.10% YTD and +17.25% YTD, respectively. Amongst actively managed funds, the Catalyst IPOX Allocation Fund (OIPAX), a 2019 Thomson Lipper Award Winner, gained to +19.77% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 0.84 -11.37 19.19
IPOX® International (IPXI)* (USD) 0.49 -13.41 15.22
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* -0.02 -7.59 19.31
IPOX® 100 U.S. (IPXO)* 0.50 -8.80 22.16
IPOX® 30 U.S. (IPXT) 0.11 -10.28 18.44
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) 0.70 -13.46 17.98
IPOX® Nordic (IPND) 0.43 -15.45 17.56
IPOX® 100 Europe (IPOE)* (USD) 0.69 -16.60 16.28
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -0.57 -3.21 2.77
IPOX® China (CNI) (USD) 1.32 -22.83 16.01
IPOX® Japan (IPJP)** (JPY) -1.13 -13.70 4.21

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM9). ** Live since 07/18. Please contact info@ipox.com  for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: U.S. & European IPOs surge on strong demand for specialty firms. Ride-hailing giant Uber officially files to list on the NYSE. 7 firms debuted across accessible global regions, with the average (median) equally-weighted company adding +32.68% (+16.09%) based on the difference between the final offer price and Friday’s close. Software unicorn PagerDuty (PD US: 63.75%), Israeli cybersecurity firm Tufin (TUFN US: +50.00%) and African e-commerce platform operator Jumia (JMIA US: +74.48%) all surged. The European IPO market also showed signs of life with London-listed Middle Eastern payment processor Network International (NETW LN: +16.09%) and Swiss train maker Stadler (SRAIL SW: + 13.42%) debuting successfully. More U.S. unicorns are set to go public this week, including discovery platform Pinterest (PINS US), profitable cloud video conferencing software maker Zoom (ZM US), while Italy’s Nexi (NEXI IM) joins other global payment processors to become the biggest IPO in Europe YTD. Amid frenzied media coverage and weakness in incumbents Lyft (LYFT: -19.22%) and GrubHub (GRUB US: -8.13%), Uber released its long-awaited IPO prospectus Thursday. While Uber did not disclose the valuation its seeking, the company is reportedly seeking a valuation between $100 billion to $120 billion.

Track Priced & Upcoming IPOs on https://ipox.com


The post The IPOX® Week, April 15, 2019 appeared first on Low Cost Stock & Options Trading | Best Online Stock Trading | Lightspeed |.

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