Photo credit: Chesnot, Getty Images Call it a hunch, but the story did not jibe. I scanned the headline for the umpteenth time and then read and reread the pertinent details. Something was missing. Either that or I had a screw loose. According to the
Tri-City Herald, a 14,500-acre swath of choice eastern Washington farmland in the Horse Heaven Hills of Benton County had just traded hands for almost $171 million. That’s a ginormous deal, one that pencils out to almost $12,000 per acre for a whole lot of acres. Pretty pricey dirt, right? That’s exactly what I thought. Especially when it comes to row crops like sweet corn and wheat, which were grown in rotation with potatoes on 100 Circles, which is the name of the property that changed hands.
Microsoft founder Bill Gates is now the biggest private owner of farmland in the U.S., according to The Land Report. Bill Gates (age 65), the billionaire founder of Microsoft Corporation, largest land holdings are in Louisiana, Arkansas, Arizona, and Nebraska, owning 268,984 acres of land of all kinds. Bill Gates’s largest holdings include 69,071 acres […]
WOOF! Petco Soars In First Day Trading
WASHINGTON (dpa-AFX) - Pet care retailer Petco Health and Wellness Company Inc. s shares surged around 63% in the first day trading on Thursday after the Initial Public Offering, reflecting strong demand for pets as majority of people are confined to their homes during the Covid-19 pandemic crisis.
On the Nasdaq, the shares, which are trading under the ticker symbol WOOF, opened at $26, reflecting 44% above its IPO price. The company s shares closed at $29.40 for the day, putting its market value at $6.4 billion.
On Wednesday, the animal supply chain store, which operates around 1,470 stores across the United States and Puerto Rico, sold 48 million shares for $18 each, raising about $864 million. This was higher than its initially expected price target of $14 to $17.