Tale of the Tape
Good evening, folks. Welcome back to the market of stocks. š 2021 could be fun, but today was not the day.Ā
Every major index closed negative. The S&P 500 struggled in the first session of the new year for the first time in 5 years. š Should we be worried? Place your betsā¦
Energy (you heard that right) was the only sector to close higher. Real estate retreated 3.2% while utilities and industrials both tumbled more than 2%.
Crypto continues to trade like crack. Bitcoin was especially volatile today with a 6000-point range (17%) between todayās high and low. Meanwhile, Ethereum ticked its highest price since January 30, 2018. š
Gold gained and $GLD gapped up 2.2% to close at its highest price since early November.Ā
EV stocks surged despite the broad market weakness. Li Auto delivered 6,126 Li ONEs in December 2020 – ā³ 529.6% YoY. Nio also delivered a record-setting 7,007 vehicles last month.
$LI ā³ 12.59% | $NIO ā³ 9.75% | $TSLA ā³ 3.42%
The new highly-contagious coronavirus locking down the UK was just discovered in New York. Safe safe, yāall. š· Hereās the WSJ with more.Ā
Weāll begin to see Georgiaās Senate runoff results tomorrow. Where will markets run in response? Tune in to tonightās episode of After Hours to find out more.Ā
Here are the closing prints:
S&P 500 | 3,700 | -1.48% |
Nasdaq | 12,698 | -1.47% |
Russell 2000 | 1,945 | -1.47% |
Dow Jones | 30,223 | -1.25% |
Where in the World is Jack Ma?
Where is Jack Ma? We certainly donāt know. The Chinese billionaire hasnāt been seen in two months following his derogatory remarks about the Chinese government…
Not only has he missed an appearance on a TV show (that he owns, btw), he was also suspiciously removed from the showās website.
Spooky. We certainly hope heās okay, and not crushed like Ant…š„¾šĀ Ā
Googleās Unions
Today, employees of tech giant Alphabet (Googleās parent company) announced their official creation of the Alphabet Workers Union.
Thatās right, big tech employees are finally unionizing. And their complaints generally arenāt about pay, either. š¬
Employeesā complaints about workplace ethics, sexual harassment, and even allegations of administration spying on workers contributed to Alphabetās unionization.
The other sideās not too happyā Googleās Director of People Operations said:
We’ve always worked hard to create a supportive and rewarding workplace for our workforce. Of course our employees have protected labor rights that we support. But as weāve always done, weāll continue engaging directly with all our employees.
Who knows whatās going on at Google..? š¤
Venmo Cashes Checks?!
The app we all use for money management (āOh yeah, Iāll Venmo youā) now cashes checks, too!
Cash a Check with Venmo is the appās new feature that allows select users to cash checks provided photos of the checksā front and back.
The check review process generally takes a few seconds, or 3-5 minutes (max time is 1 hour). Upon approval, the checkās full amount is added to your venmo balance. 𤯠š¤©
With the new feature, you can even add your stimulus check right to your Venmo balance. Paying your friends back after Saturday night shenanigans is now that much easier! š»
Lidar SPAC
Laser-sensor startup Aeva announced a $200M investment from Sylebra Capital preceding Aevaās IPO and merger with InterPrivate Acquisition Corp., $IPV.
The deal with Sylebra includes the purchase of an additional $200M of InterPrivate common stock. The combined company should be listed on the NYSE in Q1 2021 under ticker $AEVA.
Soroush Salehian, CEO of Aeva, said:
This investment by Sylebra provides a major vote of confidence in Aeva’s business model and growth plans. Proceeds from this investment will further accelerate our ability to capitalize on customer demand for Aeva’s industry-leading 4D LiDAR on a chip technology in the automotive, consumer, and industrial markets.
$IPV increased 13% and gained another 4.5% after hours. šŖ
March Madness? More like Indiana Insanity
Today, the NCAA announced that all March Madness games will now be played in the state of Indiana. š¤
This contingency plan has been in the works since October. It emulates the ābubbleā environment that worked for the NBA last summerā to ensure safety, players will be housed in Marriott hotels with no access to the outside world.
NCAA President Mark Emmert said:
This is a historic moment for NCAA members and the state of Indiana. We have worked tirelessly to reimage a tournament structure that maintains our unique championship opportunity for college athletes.
Indiana may not be the most exciting state, but itāll definitely have our attention in March.
Earnings This Week
Be sure to know when your stocks report earnings. Hereās the earnings calendar.Ā
Links That Donāt Suck
šÆ New Year Sale: Make 2021 your most profitable year yet with IBD Digital, now only $20.21 for 2 months.*
š Fiat Chrysler, PSA Aim to Complete Trans-Atlantic Merger in Mid-January
š¦ Scotland Entering New Lockdown Until End of January
š° The Radical Architecture of Tomorrow Already Exists
š² Rever & Drage Architects Builds Modern Log Cabin in Norway
ā°ļø Wall Street Eyes Billions in the Coloradoās Water
š Have Some Fun in ’21
š° The Spectrum of Financial Dependence and Independence