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New York Mortgage Trust (NASDAQ:NYMTN) Stock, Option Chain

New York Mortgage Trust

New York Mortgage Trust Inc is a real estate investment trust for federal income tax purposes, in the business of acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. The company's investment portfolio consists of Structured multi-family property investments such as multi-family CMBS an preferred equity in, and mezzanine loans to owners of multi-family properties. Distressed residential assets such as residential mortgage loans sourced from distressed markets and non-Agency RMBS. Second mortgages, Agency RMBS, and certain other mortgage-related and residential housing-related assets.

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New York Mortgage Trust, Inc. - 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

New York Mortgage Trust Inc

Billionaire entrepreneur Mark Cuban believes micromanagement is a <a href="https://www.benzinga.com/general/24/02/36955564/the-moment-mark-cuban-knew-he-could-not-work-in-the-corporate-world-his-bank-boss-yelled-at-him-for">sign that something is broken</a>.
What To Know:&nbsp;Ofek Lavian, CEO of fintech company&nbsp;Forage, recently posted a thread on&nbsp;<a href="https://twitter.com/OfekLavian/status/1766950034581700697">X</a>&nbsp;focused on counterintuitive leadership principles. Cuban responded to the thread, noting that he agreed with everything except for the post on micromanaging.
"Pretty darn good list. Agree with all but micromanage," Cuban said. "Micromanage early. Trust the process or fix what's broken if you always have to micromanage."
CNBC&nbsp;<a href="https://www.cnbc.com/2024/03/22/mark-cuban-micromanaging-is-a-toxic-trait-with-one-exception.html">reported</a>&nbsp;Cuban's opinion on micromanaging was formed from personal experience with his former company Broadcast.com.
Cuban reportedly micromanaged his employees in his early days as he expected them to match his own work ethic. This created a situation in which Cuban was always focused on pushing employees to be better and work faster without thinking about how he was coming off.
"I wish somebody would have told me to be nicer,&#8221; Cuban reportedly said on the "Bio Eats World" podcast last year.
Check This Out: <a href="https://www.benzinga.com/news/24/11/42027001/mark-cuban-swings-1m-to-golf-company-despite-hating-the-sport">Mark Cuban Swings $1M To Golf Company Despite Hating The Sport</a>
Cuban's "go, go, go" mentality and micromanaging tendencies actually hurt the company in its early stages. Cuban recalled one of his business partners pulling him aside and telling him he was scaring some of the employees with his management style. Still, Cuban sold the company to Yahoo for $5.7 billion in stock in 1999.
Lavian's post included a link to a video featuring&nbsp;Shopify Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) co-founder and CEO&nbsp;Tobi Lütke,&nbsp;who argued that the idea of micromanaging is bad is "the dumbest idea on planet Earth."
Although Cuban disagreed with the take, Lavian responded to Cuban, thanking him for his input.
"I try to hire the right team so I don&#8217;t have to micromanage, but I don&#8217;t always get it right," Lavian said.
"Once I know I can trust someone to get the little things right, I know they can devote the same level of detail and attention for the big ones that truly matter."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027035/mark-cuban-planned-to-retire-by-age-35-he-says-theres-only-one-reason-he-didnt">Mark Cuban Planned To Retire By Age 35: He Says There&#8217;s Only One Reason He Didn&#8217;t</a></li>
</ul>
This story is part of a series of features on the subject of success, <a href="https://www.benzinga.com/topic/benzinga-inspire">Benzinga Inspire</a><a href="https://www.benzinga.com/topic/benzinga-inspire">.</a> Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: Shutterstock.

Social Media

General

SHOP

Mark Cuban: If You Have To Micromanage, Something Is Probably Broken — 'I Wish Somebody Would Have Told Me To Be Nicer'

<h2 class="wp-block-heading">UPS Pays $45 Million Fine For Improperly Valuing Its Worst-Performing Business&nbsp;</h2>
The Securities and Exchange Commission (SEC) announced on Friday that it <a href="https://www.sec.gov/newsroom/press-releases/2024-184">settled charges</a> against United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) when valuing one of its worst performing businesses.&nbsp;&nbsp;
The SEC found that UPS did not record a goodwill impairment for its UPS Freight business division in 2019. If UPS had properly valued Freight, its earnings and other reported items would have been materially lower, the SEC said.&nbsp;
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>
"Goodwill balances provide investors with valuable insight into whether companies are successfully operating the businesses they own," said Melissa Hodgman, Associate Director at SEC.&nbsp;
"Therefore, it is essential for companies to prepare reliable fair value estimates and impair goodwill when required. UPS fell short of these obligations, repeatedly ignoring its own well-founded sale price estimates for Freight in favor of unreliable third-party valuations," Hodgman added.&nbsp;
In addition to the $45 million civil penalty, UPS agreed to cease and desist from further violations of these provisions, adopt training requirements for certain officers, directors, and employees, and retain an independent compliance consultant to review and make recommendations about the company's fair value estimates and disclosure obligations.
<h2 class="wp-block-heading">BIT Mining To Pay $4 Million Fine For Bribery&nbsp;</h2>
The SEC announced on Monday that BIT Mining Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>), formerly known as 500.com Limited,<a href="https://www.sec.gov/newsroom/press-releases/2024-180"> agreed to pay</a> a $4 million civil penalty to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) from 2017 to 2019 by conducting a widespread bribery scheme to influence foreign officials, including members of Japan's parliament.&nbsp;
The SEC's order finds that the bribery scheme involved illicit payments of approximately $2.5 million in the form of cash bribes, entertainment and trips. The order further finds that the bribes were authorized by a 500.com senior executive in an attempt to establish an integrated resort casino in Japan.&nbsp;
"Investors must have confidence that the operations and performance of public companies reflect merit and legitimate considerations. Bribery and corruption turn that dynamic on its head, distorting the orderly operation of the markets and undermining investor confidence," said Charles E. Cain, Chief of the SEC Enforcement Division's FCPA Unit.&nbsp;
Additionally, the US Department of Justice announced on the same day that it entered into a deferred prosecution agreement in which BIT Mining agreed to pay a $10 million criminal fine, of which $4 million will be satisfied by the company's payment of a civil penalty to the SEC.&nbsp;
More Crime Stories: Here are other crime stories covered by Benzinga this week. 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42100433/archegos-capitals-bill-hwang-receives-18-year-sentence-for-fraud-market-manipulation">Archegos Capital's Bill Hwang Receives 18 Year Sentence For Fraud, Market Manipulation</a></li>
<li><a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42055570/bitfinex-bitcoin-laundering-case-lands-crocodile-of-wall-street-in-jail">Bitfinex Bitcoin Laundering Case Lands &#8216;Crocodile Of Wall Street&#8217; In Jail</a></li>
</ul>
Image: Gerd Altmann from Pixabay

Legal

BTCM

Financial Crime Weekly: UPS Pays $45M Fine, BIT Mining Pays $4M Fine For Bribery

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor has revealed that the company is minting $500 million a day as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">inches closer to $100,000</a> for the first time in its history.
What Happened: Saylor, who has been all-in on Bitcoin for years now, has revealed an insane statistic – MicroStrategy's holdings of the top cryptocurrency have appreciated by as much as $5.4 billion over the last two weeks.
In an interview with CNBC, Saylor broke down MicroStrategy's gains, saying, "We're making $500 million a day. I'm staring at my screen and we're selling dollar bills for $3, sometimes a million times a minute."
To put things into perspective, MicroStrategy's stock delivered a whopping 97% gain in the last month, while Bitcoin has gained nearly 47%.
See Also: <a href="https://www.benzinga.com/24/11/42151442/bitcoin-could-reach-180k-in-current-cycle-thanks-to-trump-victory-says-vaneck-but-has-this-warning-for-investors">Bitcoin Could Reach $180K In Current Cycle Thanks To Trump Victory, Says VanEck, But Has This Warning For Investors</a>
Year-to-date, MicroStrategy's stock has gained over 515% while Bitcoin prices have increased by 122%.
Nvidia, the AI bellwether and the world's most valuable company by market capitalization, has seen its stock rise by nearly 195% during this period.
"We may very well be the most profitable company in the U.S. growing the fastest right now. There's not many companies making $500 million a day," Saylor said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: Michael Saylor says, "We are making $500 million a day" with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and "we may very well be the most profitable company in the US growing the fastest right now." <a href="https://t.co/HeMTnebfXw">pic.twitter.com/HeMTnebfXw</a>
&mdash; Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1859966097782636791?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The surge in&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">MicroStrategy&#8217;s stock</a>&nbsp;is not just a reflection of Bitcoin&#8217;s rising value but also highlights the company&#8217;s strategic bet on the cryptocurrency.
Research from BitMEX has shown that MicroStrategy is trading at a 256% premium to the net asset value of its Bitcoin holdings, suggesting a significant valuation disparity driven by its aggressive acquisition strategy.
This premium may be influenced by financial regulations that restrict Bitcoin ETF purchases, pushing investors towards MicroStrategy for exposure.
Furthermore, Saylor&#8217;s bold prediction that Bitcoin could reach $13 million by 2045 has sparked discussions about the potential economic implications, including&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116183/michael-saylor-predicted-bitcoin-to-hit-13-million-if-it-happens-it-will-entail-massive-hyperinflation-analyst-warns">massive hyperinflation</a>.
This prediction, if realized, would elevate Bitcoin&#8217;s market cap to $250 trillion, dwarfing the current world GDP and global stock markets.
Amidst these developments,&nbsp;Warren Buffett&#8217;s decision to hold $325 billion in cash at&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42137295/as-mstrs-michael-saylor-says-warren-buffett-is-destroying-berkshire-capital-analyst-suggests-overpricedhot-stock-market-could-be-the-reason-oracle-of-omaha-is-sitting-on-325b-cash">Berkshire Hathaway</a>&nbsp;has drawn criticism from Saylor, who argues that not investing in Bitcoin is a missed opportunity.
Price Action: At the time of writing, Bitcoin was trading at $98,556, down 0.04% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42151529/chamath-palihapitiyas-suggestion-for-donald-trump-make-paying-taxes-simple-and-enforcement">Chamath Palihapitiya&#8217;s Suggestion For Donald Trump: &#8216;Make Paying Taxes Simple And Enforcement…&#8217;</a></li>
</ul>
Photo courtesy: Wikimedia

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

MSTR

Michael Saylor Reveals MicroStrategy Is 'Making $500M A Day' With Bitcoin: 'May Very Well Be The Most Profitable Company In The US Growing The Fastest Right Now'

SPAC king Chamath Palihapitiya&nbsp;suggested a major overhaul of the U.S. tax system. He proposed replacing the extensive U.S. Federal Tax Code, which spans 7,000 pages, with a straightforward flat tax.
What Happened: Palihapitiya emphasized that this could be condensed&nbsp;into a few pages of&nbsp;simple English, which would make it easier to both pay taxes as well as enforce rules.
"Replace the US Federal Tax Code&#8217;s 7000 pages and millions of words with a simple flat tax. It could fit into a few pages of simple English, make paying taxes simple and enforcement even simpler."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Replace the US Federal Tax Code&#39;s 7000 pages and millions of words with a simple flat tax. It could fit into a few pages of simple english, make paying taxes simple and enforcement even simpler.
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1860139825791414640?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The proposal comes amid discussions on fiscal policies following&nbsp;Donald Trump&#8216;s recent election victory. Palihapitiya&#8217;s suggestion aligns with ongoing debates about tax reforms and government efficiency.
Palihapitiya&#8217;s post is part of a broader conversation on fiscal responsibility and simplification of tax processes, echoing sentiments expressed during Trump&#8217;s campaign.
Why It Matters: The idea of simplifying the tax code is significant in light of recent discussions about federal budget cuts and economic policies. Palihapitiya&#8217;s proposal follows his <a href="https://www.benzinga.com/24/11/41926584/chamath-palihapitiya-says-cut-the-federal-budget-by-trillions-and-then-do-this-with-a-fraction-of-the-money-to-make-america-great-again">earlier suggestion to cut trillions</a> from the federal budget to fund nationwide internet access.
Trump&#8217;s economic strategies, including tax cuts and tariffs, have been under scrutiny. Economists <a href="https://www.benzinga.com/personal-finance/24/09/40961812/economists-warn-trumps-plans-for-tax-cuts-tariffs-and-deportation-could-trigger-skyrocketing-inf">warn these could lead to inflation</a>. Palihapitiya&#8217;s flat tax proposal could be seen as a counter to these complex fiscal policies.
Furthermore, Trump&#8217;s plans to eliminate taxes on <a href="https://www.benzinga.com/news/24/09/40845900/trump-says-he-will-end-taxes-on-overtime-pay-but-economist-peter-schiff-says-there-is-a-fly-in-his-o">overtime pay</a> have been met with skepticism, highlighting the need for clear and effective tax reforms. This context underscores the relevance of Palihapitiya&#8217;s call for a simplified tax system.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s DOGE Initiative To Have &#8216;Marginal Impact&#8217; Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: The Brian Solis via Flickr

Government

Chamath Palihapitiya's Suggestion For Donald Trump: 'Make Paying Taxes Simple And Enforcement…'

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