MSD

TraditionPrimary6781

Checkpoint inhibitors such as MSD’s Keytruda (pembrolizumab) and Bristol Myers Squibb’s (BMS’s) Opdivo (nivolumab) are used in lung cancer, but ImmunityBio said that clinical benefit is often transient, and effective treatment options remain limited once patients progress after first-line treatment.

CartographerNew302

Regulatory affairs is general. I was a scientific research investigator for Harvard Medical, then VP Bus Dev for Cardinal. Some RML or CSLs were pharmds that knew pharmcodynamics as well as kols and better than regional experts. Reg Affairs I dealt with from Amgen to MSD for decades. Some have zero knowledge about compound science rather they know regulatory legal guidelines rhetoric. My expertise says experts live in specifics to an ocd level of professionalism. BUY $PSTV pdufa oct 25. You have one day to buy PSTV.

Motorbarge

77 Million shares traded on September 25th and now the cost to borrow shares is 111% according to Fintel. >MSD exercises its option on vaccine candidate EVX-B3 for a cash payment of $7.5 million, which extend Evaxion’s cash runway to first half of 2027 [https://stockhouse.com/news/press-releases/2025/09/25/evaxion-out-licenses-vaccine-candidate-evx-b3-to-msd](https://stockhouse.com/news/press-releases/2025/09/25/evaxion-out-licenses-vaccine-candidate-evx-b3-to-msd) More than a year without worrying about dilution. I'm in for a year.

Physical-Squirrel-40

EVAX I don’t understand why EVAX doesn’t get more attention. I STRONGLY encourage folks to take a look, do your diligence, and thank me later. EVAX is an AI-based biotech pharmaceutical company focused on utilizing AI to create new immunology vaccines. They have three vaccines in various stages of trials: EVX-01 (treatment of metastatic melanoma; in phase 2 trials); EVX-02 (DNA-based vaccine to treat respected melanoma; completed phase 1 / 2A trials); EVX-03 (DNA-based vaccine for treatment of various cancers, including non-small cell lung cancer). They also have several pre-clinical stage vaccines in the works. Here is why I like it (in addition to the focus on utilizing AI which I think will be the future of biopharma): MERCK! Merck & Co (NYSE: MRK; one of the largest healthcare and pharmaceutical companies in the world) is their strategic partner and investor. - Merck is an investor through its venture investment vehicle (MSD Global Health Innovation Fund). They purchases shares in two private placements (December 2023 and January 2025). - Merck paid EVAX $3.2 million in September 2024 for options to license two vaccine candidates EVX-B2 and EVX-B3. If Merck chooses to exercise the option, they must pay EVAX another $10 million this year (2025), plus EVAX is entitled to development, regulatory, and sales Milestones totaling up to $592 million PER PRODUCT. Plus, EVAX would receive royalties on sales (in addition to the payments mentioned). EVAX is currently trading at a market cap of $19 million. This is essentially nothing relative to the monies they stand to make from the Merck relationship, not to mention their other vaccine candidates. The stock has been beaten down as most biopharma companies are in between PR announcements and prior to announcements of approvals. It is currently trading around $3.00 per share, down from its 52-week high of $17.20, and up from its 52-week low of $1.20. Disclosure: I am a shareholder. My average basis is $1.78. I initially bought shares in early February 2025 after reading about the relationship with Merck and the fact that Merck had just expressed continued believe via their purchase of more shares in late January 2025). My initial purchases were in the high $3’s and up to $4.09 per share. I then continued to buy throughout the market dip this spring. I hold because I believe this will scream upward on any good news announcements and/or via Merck making the next $10 million option payment. I am not a bag holder. I could sell today and make a 67% profit (nearly $50k of profit).

Prior-Preparation896

The average McDonald’s restaurant likely runs at LSD to MSD op margins. I have no idea what the impact of increased egg prices will have on the McDonald’s corporation; but if restaurants are getting squeezed at a facility level, I don’t see how that could possibly be good for the stock.

QuantAGI

Listened to NKE's entire long ass earnings call and it was bad. Net impact of actions across revenue, gross margin, and demand creation will be larger in 4Q than 3Q. Inventory probably biggest standout metric for quarter and is quite concerning. Higher than they like, particularly Nike Direct. At least partner owned inventory is down y/y. Took steps this quarter and accelerating inventory actions in 2H. Moving aggressively to reduce aged inventory. Men’s running was flat. Women’s was up LSD-MSD. Everyone makes so much noise about LULU losing share to Alo/Vuori but nobody wants to say anything at all about Nike losing share to ONON and DECK (Hoka). Elliott’s comments indicate they remain early stages to fixing issues. Sounds like his first 60 days was just meeting with everyone in the global world of sport. They dodged a lot of good questions like how long they would be willing to make long term investments at the expense of short term gains, and how long it would take to shift inventory to a pull market. Gonna remain neutral on the stock at this price level and buy if it dips to low 70s

CannaVestments

Mixed Q3 from Cresco, although better than most peers in what has proved a tough quarter for many. The margin profile remained strong and cash-flow generation continued (granted most of which due to unpaid taxes), but the top-line remains challenged, dropping again here in Q3 and a weak forecast given for Q4 as IL retail competition has continued to eat away share. Ohio, where Cresco has a max footprint of 5 stores and a Level 1 grow, turned AU in the quarter with management indicating a top 3 market share out of the gate. Looking ahead, management is hopeful Pennsylvania will finally approve AU in the legislature after the failure of A3 in FL. **Revenue:** QoQ: $184.4M to $179.8M / YoY: $190.6M to $179.8M *Down 2.5% sequentially and 5.7% YoY, short of consensus $186M as top-line growth remains an issue for the company. Q3 2021 was at $215.5M so this is 3 years of declines and management gave guidance for a MSD-decline in Q4 as the issue continues to persist.. No new stores but Cresco did have a max footprint on Ohio (5 stores but Level 1 grow) where adult-use began in the quarter so clearly losses in other markets are problematic.* **Adjusted EBIDTA**: QoQ: $53.9M to $51.3M / YoY: $49.0M to $51.3M *Drop of 4.8% QoQ, but up 4.7% YoY which is good to see given the top-line decline over the same period and right at consensus ($52M). Margin down slightly from 29.2% in Q2 to 28.5% in Q3, but up from 25.7% last year. $4.8M in one-time costs and %2.8M in SBC in this figure.* **Gross Margins:** QoQ: 51.4% to 52.0% / YoY: 49.1% to 52.0% *Increase here both QoQ and YoY and at a very strong level.* **Operating Income:** QoQ: $32.4M to $26.3M / YoY: $-107.8M to $26.3M *Small impairment here in Q3 so $28.7M in comparable, with $21.7M as the comparable figure last year with that impairment removed as well. Marginally lower gross profit combined with higher OpEx to drop OI sequentially.* **Operating Expenses:** QoQ: $62.4M to $67.1M / $201.4M to $67.1M *Relevant OpEx adjusting out impairments are $64.8M in Q3 and $79.1M last year. So an increase QoQ but a large drop YoY as Cresco has better optimized their cost structure.* **Operational Cash Flow:** QoQ: $17.2M to $49.4M / $40.6M to $49.4M *Increase here for $103M YTD, although swings due to tax-payment timing. Not entirely positive here as Cresco is accounting for their 280e challenge very differently than everyone else, but my read is tax-adjusted OCF was $20.41M in Q1, flat in Q2, and $15.2M in Q3 for $35.53M YTD. CapEx remains low at $6.1M in Q3 and $16.3M YTD.* **Cash:** QoQ: $112.3M to $156.6M / YoY: $113.0M to $156.6M *Positive OCF partially offset my modest CapEx. Interestingly, no distributions to non-controlling unit holders this quarter. Debt stands at $408M.*

PocketAces93

What does MSD decline mean?

CannaVestments

Another strong showing from Trulieve in Q2 with results ahead of expectations, further margin expansion, and continued cash flow generation as the company has optimized operations, particularly at their Jeffco facility in Florida ahead of an adult-use initiate that is polling well. Operating margins were at a multi-year high- an impressive recovery after years of integrating the Harvest acquisition. The cash position has ballooned to $350M+, although an uncertain tax position at $300M+ at the same time as their 280e challenge continues (with the IRS recently issuing a notice that 280e still applies.) Looking ahead, Trul has 3 stores that converted to AU sales yesterday with eyes to open 3 more in the state in 2025. Most importantly remains the adult-use ballot in Florida this november, and perhaps AU legislation in Pennsylvania in 2025. Comparison to Q1: **Revenue:** Q1 $297.6M to Q2 $303.4M *1.9% sequential growth was nicely ahead of consensus ($293M) and up a strong 7.7% from 1 year ago. TRUL opened 3 FL stores during the quarter and acquired 2 OH stores, with now all 3 of their OH stores converting to adult-use. TRUL has also opened 6 new stores so far in Q3 (5-FL, 1-PA) up to 206 dispensaries overall now. Management forecasted a MSD decline in Q3 due to seasonality.* **Adjusted EBIDTA:** Q1 $105.8M to Q2 $107.0M *1.1% sequential increase and up a whopping 36% from 1 year ago- huge improvement here. Margin roughly flat qoq at 35.6% in Q1 and 35.3% in Q2, but up big from the 27.9% posted 1 year ago. $5.0M of SBC and $4.3M in one-time costs in this figure.* **Gross Margins:** Q1 58.4% to Q2 59.9% *Further expansion here to their highest mark in years, and well ahead of the 50.2% posted last year. Very strong here as their main indoor FL facility is running at full capacity.* **Operating Income:** Q1 $46.1M to Q2 $49.8M *Nice jump here as gross profit increase more than offset a slight rise in OpEx.* **Operating Expenses:** Q1 $127.7M to Q2 $131.9M *Modest rise here with new store openings, with OpEx as a % of revenue up slightly from 42.9% in Q1 to 43.5% in Q2.* **Operational Cash Flow:** Q1 $139.2M to Q2 $71.3M *Big number again but again due to not paying taxes as they continue to challenge 280e obligations. Tax-adjusted OCF dropped from $38.9M in Q1 to $23.7M in Q2 for $62.6M YTD. CapEx was $26.5M in Q2 and $42.1M YTD so FCF was $20.5M YTD when adjusting for unpaid taxes.* **Cash:** Q1 $326.9M to Q2 $355.2M *Another big jump here with the positive OCF print but now with $333.1M in an uncertain tax position along with it ($302M of which is related to their 280e challenge). Debt stands at $481.4M.*

ziqqiz

IMMP may be one to watch today. Halted on pending news (halt code T1). Announced yesterday: Immutep Announces Clinical Collaboration with MSD to Evaluate Efti in Combination with KEYTRUDA® (pembrolizumab) in Pivotal Phase III Trial https://www.immutep.com/detail/immutep-announces-clinical-collaboration-with-msd-to-evaluate-efti-in-combination-with-keytruda-r-pembrolizumab-in-pivotal-phase-iii-trial.html

tbb2121

You need to consider the context of an EPS report. The market cap doubled over 6 months into the report. So when you report MSD user growth and nominal profitability the stock is likely going to take a breather. If the stock was still at $9 into the EPS report, it probably would have gone up 30-40% on the same news it went down 15% on. Also, you need to consider what HOOD or any other business is worth. Would you buy a bond for $16 that pays 50c in coupons per year? If you think the coupon (EPS) will grow over time, how much? Will HOOD be as exciting in 5-10 years as it is today? Or will it trade at 10-15x like SCHW and TROW because it is then a stolid mature business? Throwing out speculations without considering underlying value and longterm trends will get you one of those ski slope account value screenshot posts over time. The best way to learn is to steel man why a security went against you. Thinking through the other side will help you get into better ideas in the first place.

CannaVestments

Overall an in-line quarter from Verano with results as expected after reduced guidance was given in Q4, stable margins, and continued cash flow generation, but also elevated OpEx. Guidance suggests growth will largely be muted until Ohio adult-use turns on in H2 (where Verano has 5 stores and a T2 grow), so increasing wholesale penetration will be a focus as new stores in IL and NJ continue to challenge retail revenues in core states. Unlike certain peers, Verano does appear that it is continuing to pay their 280e taxes for the time-being, using current cash flow to pay down debt ($50M paid down in Q2) although highlighted it would have saved $80M in 2023 taxes had 280e been removed. Comparisons to Q4: **Revenue:** Q4 $237.2M to Q1 $221.3M *Fairly steep drop of 6.7% consecutively and 2.6% from 1 year ago, but ahead of the $216M consensus as the company had guided to a MSD yoy decline during the Q4 call. VRNO opened 2 new stores during Q1 (1-PA, 1-FL), relocated another PA dispensary, and has opened an additional partnership store in CT so far in Q2. Wholesale was flat with the sequential drop all on the retail side, particularly in FL/NJ/IL where new stores were coming online with retail:wholesale split landing at 76:24. Q2 guidance was for flat to LSD growth over Q1.* **Adjusted EBITDA:** Q4 $73.4M to Q1 $66.5M *9.4% decline was right at consensus ($66-67M), with margin down from 30.9% in Q4 to 30.0% in Q1. This was down from the $70M posted 1 year ago as well. Only minor adjustments of $1.8M in one-time costs and $3.5M in SBC.* **Gross Margins:** Q4 49.6% to Q1 51.0% *Solid showing here and a strong level relative to peers.* **Operating Income:** Q4 -$11.1M to Q1 $22.7M *Q4 had an impairment and was $31.9M without so actually a big drop here as lower gross profit combined with higher OpEx.* **Operating Expenses:** Q4 $128.8 to Q1 $90.3M *Comparable Q4 figure excluding the impairment was $85.7M so an increase here. OpEx as a % of revenue rises from 36.1% in Q4 to 40.8% in Q1, as the company highlighted costs from new store openings and prep for Ohio's adult-use market in H2 2024.* **Operational Cash Flow:** Q4 $32.3M to Q1 $31.0M *Slight drop here, although waiting in financials to look at tax-dyanmics. It does not appear that Verano is challenging 280e yet like some of their peers. CapEx was $9.7M for FCF of $21.3M.* **Cash:** Q4 $174.8M to Q1 $193.8M *Again don't have the full CF statement yet, but largely looks like positive OCF offset CapEx with only minor other adjustments. Management noted that they have subsequently paid down $50M in their senior term facility in Q2 and are looking at potentially paying down more. Debt as of Q1 was $445M.*

CannaVestments

Cresco posts their strongest quarter in a quite awhile to cap off a disciplined 2023 as a whole, with the year-of-the-core strategy continuing to take shape. Growth was muted throughout the year as the company lacked exposure to new AU markets like NJ/MD/CT, but SG&A reduction and margin improvement led to profit and cash flow improvements. Management in particular highlighted cultivation/processing improvements in core markets that led better yields and lower costs, offsetting market price compression in many states. Looking ahead, management envisions largely stead-state results for most of 2024 until Q4 when Ohio adult-use comes online (where Cresco has a max position of 5 stores/T1 grow today). CapEx for the year will be guided towards optimizing assets ahead of adult-use initiatives in Ohio and potentially later in PA/FL. Comparison to Q3: **Revenue:** Q3 $190.6M to Q4 $188.2M *1.3% sequential decline was better than expected ($182M consensus), with full year revenue landing at $771M (down 8.5% from 2022). Retail was $119M and wholesale at $69M in Q4 for a 63:37 split. Management guided to a MSD decline in Q1 24' and then flat through Q2/Q3 before returning to growth in Q4 with the onset of AU sales in Ohio later in the year. Cresco opened up 1 new store in PA in Q4, with 16 total in 2023 across PA and FL. Management noted they are now fully built out on the retail front until additional capacity comes online in FL.* **Adjusted EBIDTA**: Q3 $49.0M to Q4 $54.8M *Third consecutive quarter of significant improvement here was well ahead of consensus ($44M), with aEBITDA margin jumping from 20.5% to 25.7% in Q3 to 29.1% in Q4 (now in-line with top Tier 1 peers). Only minor adjustments here of $4.4M in one-time costs and $3.0M of SBC for actual EBITDA of $47.4M* **Gross Margins:** Q3 49.1% to Q4 51.1% *Strong results here, up significantly from the 44% posted 1 year ago. Yield improvements and cost reductions in core markets are elevating results.* **Operating Income:** Q3 -$107.8M to Q4 $27.1M *Impairment in Q3 so comparable figure was $21.7M- a nice jump up driven by higher gross profit and lower SG&A.* **Operating Expenses:** Q3 $201.4M to Q4 $69.0 *As noted, impairment in Q3 so comparable figure was $71.9M in Q3, a nice drop from 37.7% of revenue in Q3 to 36.6% in Q4. SG&A was down almost $6M consecutively.* **Operational Cash Flow:** Q3 $40.6M to Q4 -$3.3M *Don't have the full financials yet but working capital and tax payment timing a big part of the drop here with full year OCF landing at $58.6M (up more than 3x 2022's OCF). Capex spend was $4.8M in Q4 and $55M for 2023 (so about $3.6M in 23' FCF), with most going towards new stores in FL/PA as well as facility improvements in PA/IL/MA/FL.* **Cash:** Q3 $113.0M to Q4 $108.5M *As noted, waiting on 10-K here to asses flows. Debt stands at $404M.*

CannaVestments

Late posting here as I have been on vacation. A solid although more modest Q4 showing from Verano Holdings relative to their T1 counterparts so far. Results came in essentially in-line with analyst expectations, although declined from a strong Q3 showing. Management highlighted strong results out of FL (up 11% sequentially), offset by retail declines in NJ and IL as new stores come online in those states. The company maintained steady cash flow generation, finishing the year with $110M in OCF and $73.4M in FCF as Verano finished the year with $175M on the balance sheet. Management guided to $25-50M in CapEx spend in 2024, primarily towards new store openings in FL, NJ and CT, and indicated they would pay down $50M in debt in April 2024. Looking ahead, continued growth in FL ahead of a potential AU initiative, the onset of AU sales in Ohio where Verano has 5 stores currently and will open 1 more, and wholesale growth in NJ and CT. Comparison to Q3: **Revenue:** Q3 $240.1M to Q4 $237.2M *Drop here of 1.2% was slightly better than consensus ($235M), as strong FL sales partially offset sequential declines in NJ and IL. The company opened 4 new stores during the quarter (3-FL, 1- CT) and 16 for 2023 as whole, and has opened 3 so far in 2024 (1-FL, 2-PA). Revenue was up 5% from Q4 2022 and 7% vs 2022 as a whole. Note that management guided to a MSD decline in Q1 due to seasonal weakness and increased retail competition in NJ.* **Adjusted EBITDA:** Q3 $89.3M to Q4 $73.4M *Large sequential drop was just slightly worse than expectations ($74M), coming in at 30.9% of revenue in Q4 down from 37.2% in Q3. $3.3M in SBC adjustments to this figure, as well as $43M in impairments during the quarter.* **Gross Margins:** Q3 55.5% to Q4 49.6% *Fairly steep drop from a strong Q3 showing, although still at a solid level relative to peers.* **Operating Income:** Q3 $40.3M to Q4 -$11.1M *Large drop into the negative with the gross profit decline and a larger impairment taken during the quarter. Comparable OI to not include impairments would be $46.9M in Q3 and $31.9M in Q4.* **Operating Expenses:** Q3 $92.9M to Q4 $128.8 *Impairments taken in both quarters so comparable OpEx with those removed were $86.3M in Q3 and $85.7M in Q4. OpEx as a % of revenue then roughly stable at 35.9% in Q3 and 36.1% in Q4, a fairly lean figure.* **Operational Cash Flow:** Q3 $36.6M to Q4 $32.3M *Steady OCF to close out the year at $109.7M. With CapEx at $9.8M in Q4 and $36.3M for 2023, FCF was $22.5M in Q4 and $73.4M in 2023. Don't have the full annual report yet to look into tax and inventory dynamics. Management noted that they would have saved $80M in tax payments had 280e been removed during 2023.* **Cash:** Q3 $129.9M to Q4 $174.8M *Again don't have the full CF statement yet, but looks like positive OCF and some additional debt offset CapEx spend. Management noted they plan to pay down $50m in debt in Q2 2024, and guided to $25-50M in 2024 CapEx.*

DamnMyAPGoinCrazy

I’ve done a lot of work on the name. Here’s my summary fwiw: “Third party data is showing accel in revs from -MSD to +30%+ over last couple of weeks. QTD units are tracking +8% vs street at only +1% with comps getting easier the rest of the Q (the comp gets harder this week so we will see a decel in units, but then they begin to get easier after that). Supply has been an issue but yipit pointed out that CVNA is now getting Vroom inventory. You have a right sized cost-structure which was fixed while revs were declining; now revs have turned positive and are accelerating so should see a lot of fixed cost leverage, which means EBITDA #s look way too low....these next couple quarters you can get a possible "goldilocks" phase 2 of their plan with revs increasing but them not ramping up spending significantly yet. No one owns this stock, it’s seen as a shitco despite their massive turnaround”

AluminiumCaffeine

"Nike $NKE, Under Armour ($UAA), Foot Locker ($FL), lululemon athletica ($LULU) pulling back midday on Adidas ($ADDYY) earnings and outlook Adidas AG reports prelim FY23 results, FY sales miss slightly; expects to generate profits of € 500 mln in 2024, expects sales +MSD in constant currency in 2024"

Tehbeefer

See also [MSD](https://en.wikipedia.org/wiki/Merck_%26_Co.).

forthetorino

Thanks for the conversation here, doubt I’ve talked to you on tech, I rarely call for tech help 😆. There are some dicey acquisitions but I see it as gaining market share, whether it’s through revenue or name recognition alone. Knowing the brands under the Holley umbrella helps me stay invested. You can’t swing a dead cat without hitting an MSD product at a race event.

Outside_Ad_1447

What do you mean never recover, they are continuing to grow, but the main driver of growth has become the cash cow while other segments are transitioning to the “star” from “question” going by the BCG matrix. This transition is occurring rn and it coincides with an economic downturn (unsurprisingly as that is what often sparks model shifts), so this year and likely into the next will be worse than normal, yet still solid MSD-HSD earnings growth. In regards to competition specifically, I see the main competitor on the branded checkout side being Apple Pay as they are becoming an attractive “button”, but PayPal still performs better along with having larger merchant presence. A lot of the other buttons like ShopPay even on Shopify, PayPal still performs better, one of the reasons they are a major channel partner for PPCP.

Outside_Ad_1447

Bitcoin is a very small amount of revenue btw. Its grown earnings significantly over the last 7 years with processing growing from 50B to 800B with monetization occurring rn. Also monetization of others doesn’t really matter, they have 1200 out of top 1500 merchants (80%) while apple is second at like 30% along with having 35M other merchants. I’m not throwing out acronyms those are segment names and MSD is short for mid-single digits, nothing fancy like whatever u said. I just gave all the reasons behind future growth

Outside_Ad_1447

Dude their are so many major growth drivers: Venmo monetization, PPCP, branded growth in MSD, Braintree and PPCP value added services profitability initiatives, BNPL expansion, etc.

ij70

i think i got wrong ticker first time. msd is Morgan Stanley Emerging Markets Debt Fund, Inc. Common Stock (MSD)? that msd?

diverareyouok

Robinhood is now 4.4%, MSD is still 4.35%, just fyi in case 65bps matters to you.

svt4cam46

BGRY and HLLY Berkshire Grey is robotics with Fed Ex as a customer among others still pre profit, but pounded. Holley is automotive enthusiast parts manufacture. Think Holley carbs and fuel injection, Hurst shifters, MSD ignitions, Flowmaster exhaust, Hooker etc.

VisualMod

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usDEmure

U never OWNED shit stop lying. No one wants to be like you Spoiled Beavers MSD that 😘

slammerbar

MSD investments merging with BDT banking. https://www.prnewswire.com/news-releases/bdt--company-and-msd-partners-to-combine-as-the-preeminent-advisory-and-investment-firm-serving-family--and-founder-led-business-owners-and-strategic-long-term-investors-301654544.html MSD is Michael Dell’s private family investment office. They are merging with another semi private investment bank BDT. Finally some movement from MSD, I’m holding warrants in their spac MSDA. I wonder what they are cooking?

kiwimancy

You are not getting a lot of core-bond duration, mainly just the 5% VGIT, which is sometimes the better diversifier in a market crisis. SCHO is kind of a cash replacement which won't move much or yield much, though it should be around 1.5% now. I wouldn't hold that much of it unless you have near term plans for that money. SAMBX, MSD, EDD, and VWOB are on the risky side and equity-correlated in a crisis. That doesn't mean they aren't good picks for the overall portfolio, just that your portfolio's risk level is higher than just the risk of 45% stocks. Of these, floating rate bonds will perform best in a positive-or-neutral-growth, rising-rate environment. I would not recommend adjusting your portfolio for that, both because timing the market is hard and because the ten year just hit 2% which is where it was in 2019 before the shutdowns. It's possible yields won't go much higher. It looks like you left out ~10% of the portfolio.

AxemanFromMA

[broke resistance, so should v shape and retest 470 after panic sellers sell](https://ibb.co/MSD52RP)

OogdayAyday

Did the Korean traders pile in on IONQ again? Massive [volume](https://www.barchart.com/stocks/quotes/IONQ/options?expiration=2021-11-19-m) on calls expiring this week. Idk what this is all about, but remember that there are weird early lockup termination clauses for MSD Capital and BEV if IONQ hits $40 and $65 within 3-6 months post deSPAC, lol.

depido

Im actually not sure why. Have looked around for an answer but couldn't fint any other that what happenned lately with the MSD-partnership.

slammerbar

You know.. I really like MSDA it is Michael Dell’s SPAC; obviously looking at tech. $575mm size. The management team at MSD consists of CEO Gregg Lemkau (Ex Goldman Sachs investment banker), CFO John Cardoso (Ex Davidson Kemper Capital Management and ex Clearwater Capital Partners), and Chairman John Phelan (founding partner at Dell’s family firm). MSD Partners and MSD Capital manage over $19 billion and employ around 110 people. The firm has also committed to a forward purchasing agreement of $5mm units at $10 once they close on the merger deal. I just think Dell and Co. know what they are doing, and they could find a good target. It’s still a pretty low-key SPAC. 🤷‍♀️

Pikaea

PIPE are >Hyundai Motor Company and Kia Corporation, MSD Partners, Bill Gates’ Breakthrough Energy Ventures, Marc Benioff’s TIME Ventures, Silver Lake, and Fidelity Doesn't seem like short term investors.

Cantos

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that the independent members of the Merck Board of Directors have appointed Thomas H. Glocer as independent lead director effective immediately. Mr. Glocer has served on the Merck Board of Directors since 2007. He has extensive management, operational, technology and international business expertise, including his history of accomplishment and executive leadership while chief executive officer and a director of Thomson Reuters Corporation. Mr. Glocer also serves as independent lead director at Morgan Stanley. “Since Tom joined our board in 2007, his expertise, counsel and guidance have been invaluable to our company,” said Rob Davis, chief executive officer and president, Merck. “Tom is a strategic, insightful and accomplished corporate leader, and I look forward to our continued collaboration and partnership as we continue to deliver value to our stakeholders and ensure the short- and long-term success of our company.”

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preachermansgun

I'll post a link later. It was actually featured on a YouTube car channel last year. It's a dream cruiser GT with a manual transmission. Ported turbo with oversized impeller, limited slip differential, oversized intercooler, hard charge piping, Mopar stage 3 ECU, ebiach sway bars, tien lowering springs, Gabriel ultra shocks and struts, MSD ignition, TSW rims, and a few other things I'm sure I'm forgetting. It's a dark burnt orange (factory 1 year only color) with black rims, light window tint, and light smoking on all the lights.

big3n05

Hooker Headers, Weiand, Nitrous Oxide Systems, Flowtech Exhaust, Demon Carburetion, Earl's Performance Plumbing, Diablosport, MSD, Mr. Gasket, Accel, Superchips, Edge, Racepak, Mallory, Hays, Quicktime, Lakewood, Flowmaster, Hurst, B&M, APR, Dinan

CD_Johanna

IonQ is merging with dMY Technology Group III. Will shares of DMYI be converted into IONQ shares? https://ionq.com/news/march-08-2021-ionq-to-become-first-public-quantum-computer-company **Transaction Overview** *The transaction has been unanimously approved by the Board of Directors of dMY III, as well as the Board of Directors of IonQ, and is subject to the satisfaction of customary closing conditions, including the approval of the stockholders of dMY III.* *The combined entity will receive approximately $300 million from dMY III’s trust account, assuming no redemptions by dMY III’s public stockholders, as well as $350 million in gross proceeds from a group of strategic and institutional investors participating in the transaction via a committed private placement investment (“PIPE”). In addition to Fidelity Management & Research Company LLC, Breakthrough Energy Ventures, Hyundai Motor Company and Kia Corporation, new investors include Silver Lake, MSD Partners, L.P., and TIME Ventures, the investment fund for Marc Benioff. The PIPE includes additional investment by existing investors including, New Enterprise Associates, GV, and Mubadala Capital.* *Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K and in dMY III’s registration statement on Form S-4, which will include a document that serves as a prospectus and proxy statement of dMY III, referred to as a proxy statement/prospectus, each of which will be filed by dMY III with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov.* So I would like to buy shares of IONQ. If I buy shares of DMYI, will I automatically convert over to IONQ when the merger is complete?

NotMe357

I got a little less than you but ya I think this one is a very good long-term hold. Just look at at how many company involved in this: "*The Transaction will result in $650 million in gross proceeds, including a $350 million fully committed PIPE with participation from Fidelity Management & Research Company LLC, Silver Lake, Breakthrough Energy Ventures, MSD Partners, L.P., Hyundai Motor Company and Kia Corporation, and key institutional investors"* and QS CEO also work with them. Now I just need to wait until the market is "normal" again...

Dramatic_Importance4

Too big to move due to vaccine income. MSD is a behemoth. It may mine a dollar or two, that’s it.

WittyDependent2255

Haven't had the time to do proper diligence on this but I can confirm that the CEO and Director of the SPAC - Gregg Lemkau, is an absolute beast and has contacts pretty much everywhere. From the S1: >Prior to joining MSD Partners, Mr.Lemkau spent 28 years at Goldman Sachs, where he was most recently Co-Headof the Investment Banking Division. While at Goldman Sachs, Mr.Lemkau advised on hundreds of transactions accounting for over $1 trillion of deal value across sectors globally and spent significant time in high-growthsectors such as Technology, Media, and Healthcare Also this piece is pretty interesting: [https://www.ft.com/content/d8284847-9ed7-4cdf-889b-d323ac56332b](https://www.ft.com/content/d8284847-9ed7-4cdf-889b-d323ac56332b) "Gregg Lemkau: the go-to adviser for the bad boys of Silicon Valley" >When Tesla’s Elon Musk was facing a backlash for his now infamous “funding secured” tweet, he turned to Mr Lemkau to help untangle a potentially career-ending mess. Uber’s board also sought the investment banker’s advice when the transportation company had to negotiate the exit of co-founder and former chief executive Travis Kalanick after a series of scandals. I wouldn't simply write this off first glance.

DecorumAficionado

The CEO, President, and CFO of AJAX are "deal makers" and "bankers". CEO Daniel Och > Mr. Och began his career at Goldman Sachs in 1982 in the Risk Arbitrage Department. Mr. Och was later named Head of Proprietary Trading in the Equities Division and Co-Head of U.S. Equities Trading. In 1994, Mr. Och left Goldman Sachs and founded the asset management firm, Och-Ziff, where he served as Chief Executive Officer for 24 years until February 2018 and Chairman of the Board of Directors until March 2019. Mr. Och focuses on investment activities through Willoughby Capital Holdings, LLC (“Willoughby Capital”) his family office which was established in 2009. President Glenn Fuhrman > Mr. Fuhrman spent the first ten years of his career at Goldman Sachs, where he rose to the position of Managing Director and Head of the Special Investments Group. While at Goldman Sachs, Mr. Fuhrman served on the Investment Committees of three of Goldman Sachs’ Private Equity Partners’ funds, a series of multi-manager private equity funds, and on the Boards of Directors of several other private investment funds for the partners and employees of Goldman Sachs. In 1998, Mr. Fuhrman left Goldman Sachs and co-founded MSD Capital (“MSD”), the private investment firm of Michael Dell, the founder and Chief Executive Officer of Dell Technologies. During Mr. Fuhrman’s 22 year tenure at MSD, he served as Co-Managing Partner and Co-Head of the Investment Committee, overseeing a diverse array of investments, including venture capital, growth equity, minority investments in large public and private companies and significant investments for control in corporate buyouts and real estate. Mr. Fuhrman also served as the Co-Managing Partner of MSDC Management, L.P., an SEC-registered investment adviser that raised billions of dollars from a select group of outside investors, which focused on strategies initially developed by MSD. Mr. Fuhrman currently serves as the Chief Executive Officer and Founder of his family office, Virtru Investment Partners. CFO J. Morgan Rutman > Mr. Rutman currently serves as the President of Willoughby Capital. Mr. Rutman began his investment career in 1985 at Dillon Read as an analyst in its merger arbitrage department. Mr. Rutman moved to Steinhardt Partners in 1986 to co-manage their merger arbitrage portfolio. Mr. Rutman co-founded Farallon Partners in 1990 and Harvest Management LLC in 1993, which he managed until early 2008.