Tale of the Tape
Good evening, everyone.
Today was a red day. The major indices all closed lower.
The Nasdaq 100 ETF, $QQQ bounced off $266.5 once again. Will this act as support or will it fail? Time will tell.
Materials were the strongest sector. $XLI gained 0.7%.
Industrials and energy barely closed green. Real estate lost 2%.
$SNOW fell. It closed $92 off its $319 high from yesterday. 😬
Gambling stocks were a source of strength. $PENN jumped 8%, $DKNG +4%.
GE was the 3rd best stock in the S&P.
Here are the closing prints:
S&P 500 | 3,357 | -0.84% |
Nasdaq | 10,910 | -1.27% |
Russell 2000 | 1,542 | -0.63% |
Dow Jones | 27,901 | -0.47% |
$PLAYTime Is Over?
Dave and Buster’s had its second worst day of all time.
The adult version of Chuck-E-Cheese lost 26% after news hit that the company could go bankrupt.
Dave and Buster’s said it may file if it can’t reach a deal with its lenders.
Nothing is official yet, but these conversations are never fun.
Here’s Dave & Buster’s monthly chart since inception. The stock is trading below its IPO price. oof
Is GE a Leader?
Today, General Electric was the 3rd best stock in the S&P 500.
The rally comes after $GE CEO Larry Culp announced that he expects cash flow to turn positive in the second half of 2020.
Larry is determined to turn $GE around. Here’s what he said on Wednesday:
We are really not waiting for the markets to come back and put the wind we had in our sails. We know this is going to be a self-help story for a little bit longer.
He’s got some work to do.
In the last 20 years, $GE is down 77% while the S&P 500 ETF, $SPY, is up 233%. 😬
Here’s the 20-year monthly $GE chart:
Richard Branson Wants A SPAC
Richard Branson, founder of Virgin Galactic wants to raise half a billion for a SPAC of his own.
On Wednesday, VG Acquisition Corp filed with the SEC saying it intends to sell 46 million units at $10 each.
VG hasn’t decided on a business to buy yet, but it will look for a company operating in either the travel, financial services, health, tech, music, media, mobile, or renewables sector.
So pretty much anything will do. Lol
Highway Robbery
7 years ago today, Rockstar Games dropped the fastest selling entertainment product in history– Grand Theft Auto V.
GTA V grossed $800M on its first day, making it the second most popular videogame of all time.
Rockstar Games is a subsidiary of Take-Two Interactive.
$TTWO appreciates GTA’s success. Since the game was released $TTWO is up 837%. Five stars. ⭐️⭐️⭐️⭐️⭐️
Here’s the $TTWO monthly chart since July 2013.
The Pac is Back

Last night, California and Oregon approved PAC-12 football practices.
Pac-12 commissioner Larry Scott announced the conference’s decision to play following the Big Ten. Scott said:
Our California and Oregon universities will now each individually and immediately reach out to their relevant county public health officials to seek clarification on what is required to achieve the same clearance to resume contact practice and competition.
The conference will host a meeting Friday to discuss scheduling.
Forks Up. 😈 🔱
HBD, Howard 🥳
Howard Lindzon, one of Stocktwits’ original founders, celebrates his birthday today.
He still tries to be hip and we love him for it.
HBD, Howard. 🥳
We’ll see ya on the links soon. 🏌🏼♂️
Links That Don’t Suck
🌌 Stocktwits After Hours: Dave & Buster’s Is Dead?
🕵️♂️ Russia’s Space Agency Chief Declares Venus a “Russian Planet”
🏎 Bugatti May Be Sold to EV Maker Rimac of Croatia
🌳 Urban Forest is a Plant-Covered High Rise by Koichi Takada Architects
🎡 Berkshire in Techland
🏌How Tiger Woods Was Consistently Inconsistent to Start the US Open
💸 How Cash Transfers Fight Poverty At Home and In Developing Nations