Bullish Picks Podcast

Black Owned Companies In Wall Street Part 3 (GBT, PING)

March 14, 2023 Ken "Blanks" Harrell Episode 44
Bullish Picks Podcast
Black Owned Companies In Wall Street Part 3 (GBT, PING)
Show Notes Transcript

We continue our Black Owned Companies In Wall Street series. This episode "Blanks" covers Global Blood Therapeutics (GBT) and ping identity holding (PING). 

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Great day family you are tapped into the bullish picks Podcast with your main man 100 grand Ken blanks Terrell right here streaming on your favorite podcasting platform. We give you everything you need from Main Street to Wall Street so that you can navigate these choppy waters. You got stock market questions, I've got stock market answers, tap in catch me on IG at Ask blank and we are back on the bullish picks podcast but your main man hunter grant Ken blanks a rail we are covering black owned companies on Wall Street black all companies on Wall Street what a couple of updates real quick, because some of the ones we want to talk about. It's been some movement, just top of our research, where there's also been some acquisitions. The global blood therapeutics, who was listed as the best black black stock in medicine has actually been acquired. They've been recently acquired and close it was article came out from pfizer.com released the article on October 5 2022. So within the last, what six months nine for about four months, Pfizer completed acquisition of global blood therapeutics. So this came out in the New York Business Wire, Pfizer ticker P Fe announced today the completion of his acquisition of global blood therapeutics Inc, whose ticker was GBT, a biopharmaceutical company dedicated to the discovery, development and delivery of life changing treatments that provide hope to underserved patient communities, starting with sickle cell disease, the acquisition and reinforces fighters commitment to sed and on a 30 year legacy in the rare hematology space.
It says quote, with global blood therapeutics, talent portfolio pipeline part of Pfizer, we look forward to accelerating innovation, and expeditiously bringing multiple potential best in class treatments to people living with sickle cell disease, says Amir Malik, Chief Business Innovation Officer and Executive Vice President of Pfizer, quote in line with our value of equity, Pfizer is committed to addressing the underserved needs of the sickle cell disease community, we are excited about these potential breakthroughs and opportunity to transform the lives of these patients. And as we know, sickle cell disease is highly prominent in the African American community. And so this company was doing marvelous things and got acquired by Pfizer. So if you want to still benefit from the technology from the treatment and all the wonderful things that came from this originally black owned company, global blood therapeutics, then you would look at consider Pfizer because now that they own them, then those revenues and earnings and profits all bubbled up to Pfizer, whose ticker is  P F, E. So if you're interested in still getting exposure to that, then that's where you will look. Alright, so I just wanted to bring that to the table and to the attention. And also while we're on it. Another company here that was on our list, really pink identity holding, who's black own stock, founded by Andre Duran in 2002. So over 20 years ago, they specialize in a wide variety of identity protection services. They're publicly traded, they were publicly traded on the New York Stock Exchange under the ticker p i n g. However, they've taken their company back private. So it was a private company now, but they do report revenue, just above three, just at $300 million as of 2021. And they have total assets of $1.18 billion. They have 11 locations and still doing their thing. They're headquartered in Denver, Colorado. So they 
They're still out here, right? And they're still doing their thing. But they're private now and some companies do that they may buy back all their stuff, or they may sell it. So it says here, the ping identity holding Corp was initially listed on your stock exchange with 12,500,000 shares of common stock at $15 per share the value of the stock rolls $5 In his first day, and jump to a 30% increase in market debut. This was the first organization that VISTA holdings took public. VISTA retained earnings 80% ownership of the company says here August 2022. Thoma Bravo, agree, which is an American private equity firm, they agreed to buy ping identity for $2.8 billion in an all cash transaction. And this acquisition was completed in October of 2022. They made the offer in August. So August, September, October, through not so within 90 day, they were to complete that transaction, they bought it for 2.8 billion all cash. And now it's a privately held company, and you can no longer invest in it. But just know that that happens. Sometimes if you think about Twitter, right? If you go and look up TW T R, which was Twitter's ticker symbol, you can't buy it no more. Why? Because Elon Musk came in and did an all cash deal. They bought Twitter. And so you can't the public, the people, we can't invest in it no more, because he took it back private. So he owns it outright.
The Wall Street don't own Twitter no more, just like Wall Street don't own Ping Identity anymore. So those type of things do happen. Those type of things do happen. Companies go public companies go private, and you got to stay on top of it because that's just how the game goes sometimes. So we still got a couple more companies left on our list to cover for our black owned companies on Wall Street. All right, for Black History Month 2023 giving it to you recorded live, and we want you to come back for more we still got two more to go on our list. So tap in tell a friend text a friend tweet a friend. Have them join in to the Bullish picks podcast, with your main man 100 grand can blink surreal. We'll be right back with a little bit more. And one more thing. If any of you would like a free consultation. Do not hesitate to book your free consultation today. You can book a free consultation just call it 313-744-3489 Call or text through 137443489 to book your free consultation with your main man hunter grant can blink surreal. We could take a look at any doctor made it to your watch list. Your Wish List is on your radar. We could talk industries we could talk sectors, we could talk portfolio. It could be cryptocurrencies, it could be stock indices. It could be REITs real estate investment trust. We could talk about ETFs exchange traded funds. We could talk stock options, whatever you want to talk about. You got stock market questions. We got stock market answers don't hesitate to participate 313-744-3489