Vonovia's Stock Plunges Amid Nationalization Fears, Lahontan Gold Soars on Restart Plans, Coinbase Seeks Exemption Relief
Vonovia's stock price dropped after Die Linke won the Berlin House of Representatives election, gaining a significant number of seats. Lead candidate Elif Eralp wants to nationalize corporations with over 3,000 apartments in the capital, which would heavily impact Vonovia as it owns around 138,000 apartments in Berlin through its subsidiary Deutsche Wohnen.
The party is discussing compensation of only 40-60% of market value for the expropriated properties, but nothing has been finalized. However, Chancellor Merz announced a law against expropriation. The debate over nationalization and regulation is capping investor enthusiasm for Vonovia, despite its solid operating results.
Lahontan Gold is on track to become a producer, with its mineral resource base growing 22% in the past year. The company aims to restart the Santa Fe mine in Nevada by 2027 and has begun drilling at West Santa Fe. Results from previous drilling campaigns have shown promising grades of gold equivalent.
Coinbase, on the other hand, received a 5-year exemption for trading tokenized stocks from the SEC, but it's tied to strict conditions. The company is evolving into an infrastructure provider through new banking partnerships and its own Base network. However, interest rates remain a concern for Coinbase.