[DECODE Market] Palantir, Ant Group and Altice Europe: 3 very different destinies on the stock markets
In Decode Market, a monthly meeting with our eToro partner, we take stock of stock market news in the digital ecosystem with Antoine Fraysse-Soulier, head of market analysis at eToro.
While November was generally positive for stock markets around the world, reassured by Joe Biden’s victory against Donald Trump in the US election and the announcement of promising results for several anti-Covid-19 vaccines, the last few weeks have not been the same for all listed companies. Among them, Palantir, Ant Group and Altice Europe thus experienced various penalties during the month of November.
For Palantir, an enigmatic data analysis company accused of participating in mass surveillance and criticized for its close ties to law enforcement, all is well. After a remarkable entry on Wall Street in direct listing at the end of September, the company whose largest shareholder is Peter Thiel, a controversial figure in the tech sector who was one of the first investors in Facebook and supported Donald Trump in 2016, has saw its action soar during the last weeks. Because if the company is not yet making money (it lost 580 million dollars last year for a turnover of 743 million dollars), it arouses the lust and the wildest fantasies in Tech American and global.
Happiness at Palantir, misfortune at Ant Group
If it’s time to party at Palantir, it really isn’t at Ant Group. And for good reason, the financial arm of Alibaba, which has 731 million monthly active users on its Alipay payment platform, saw its IPO, which was to be the biggest IPO of all time (34.4 billion of dollars, or 27.4 billion euros), interrupted at the last minute. An unexpected thunderclap behind which the Chinese Communist Party (CCP) hides to cut the wings of a private group, with ever-growing influence. One way to cool the ardor of Jack Ma, the iconic founder of Alibaba who appeared to accuse Chinese regulators of not understanding the needs of consumers and of hampering innovation in the FinTech sector, and the ambitions of Chinese tech giants with inordinate appetites.
While Ant Group is struggling to make its debut on the stock market, Altice Europe is moving away from it. Billionaire Patrick Drahi, founder and majority shareholder of Altice Europe, has indeed officially launched the public offer he announced in September to buy the remainder of the telecoms and media group and withdraw it from the Amsterdam Stock Exchange. where it is currently listed. Altice Europe, which controls the operator SFR, radio RMC and the BFM group in particular, announced in September a “conditional agreement»With Patrick Drahi. Following the operation, for a total planned amount of 2.5 billion euros, the group’s share must be withdrawn from the Stock Exchange ” as soon as possible“. Patrick Drahi, who currently holds 77.6% of the group’s capital, will thus remain the sole master on board.
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