Tale of the Tape
Good evening everyone and welcome back to el mercado grande.
The Nasdaq closed at all time highs and the S&P 500 closed at its highest level since February 21, 2020.
For the first time in a bit, the Russell 2000 led the way.
Trump gave Bytedance 45 days to sell Tik-Tok to a US-based company. Microsoft appears to be the front runner of the deal, $MSFT was up 5.62%.
Eastman Kodak, the serial shape-shifting company, puked back gains giving up 31% today. That didn’t take long. See more on this below.
Here are the closing numbers:
Bitcoin Social Interest Exploding
Over the past 10 days, message volume on the Stocktwits Bitcoin stream has increased 500%.
Ticker-specific Stocktwits message volume can be viewed as a measure of social interest and so, by this measure, attention is exploding along with the price of the asset.
Over the same period, Bitcoin price has increased by 20% – and that’s after the $1000 slide yesterday. lol.
Yep, volatility is spiking and so is social interest.
Here’s the Stocktwits One-Month Message Volume Chart for the $BTC.X stream:
Chegg reported strong numbers, beating on both the top and bottom lines. Subscribers grew 67% to 3.7 million as students are in need for off-campus help.
Guidance for Q3 was up, maybe the most telling news of the report.
EPS: $0.37 vs $0.34 est
Revenue: $153M vs $137M est.
$CHGG traded up 6% during today’s session and looks down 2% in after-hours on the number.
Virgin Galactic also dropped earnings after the close. The company reported $0 revenue and a loss of 30 cents/share in Q2.
$SPCE was down 7% after-hours after closing up 7% on the day.
This morning, the company announced that it was teaming up with Rolls Royce for its Mach 3 Aircraft.
Flying Space Chariots are exactly what we need to move high speed travel into a new dimension. This is sick.
Twitter Needs More Evil
If Zuck was running Twitter, he would have relaunched Vine, renamed it ShmikShmok, dropped the six second rule, added editing tools, and stolen viral algos from the Chinese via Klingon cyber-espionage by now.
All while windsurfing and kicking puppies.
Twitter needs more evil in their DNA and maybe more hustle. Yep, evil and hustle….
@Jack, ‘sup bro?’ 🤙
(Here’s more on Vine for those who might not recall. It had 200 million Monthly Active Users IN 2015.)
Eastman Kodak 🙄
Everyone’s favorite camera/crypto/pharmaceutical company, Eastman Kodak, had a rough day. $KODK dropped 31.62% and now the stock is down 75% from its high last Wednesday. Idk, maybe the SEC should look into this.
Kodak CEO Got Stock Options Day Before News of Loan Sent Stock Soaring
Here’s the crazy 30-min chart. Wowza. 🤷♂️
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🔊 Stocktwits After-Hours: Nasdaq Composite, New All-Time Highs.
🎪Two years ago, ‘Astroworld’ turned Travis Scott into a superstar
🏈 Dwayne “The Rock” Johnson, Dany Garcia, and RedBird Capital Buy XFL for $15 Million
⚡️ Electric truck maker Lordstown Motors is going public
🥘 Can a Better Grocery Store Save a Neighborhood?
👻 New Snapchat (SNAP) Feature Adds Popular Music to Videos