The Weekend Rip: A-Rod’s SPACattack

/ Stocktwits

Tale of the Tape

Happy Super Bowl Sunday, folks!! We bet the markets are the last thing on your mind so we’ll be brief. 😉 🏈

Last week the market of stocks marched to all-time highs while the S&P 500 closed in positive territory every single day. Can the S&P continue the streak? Place your bets…  

We’re in the heart of earnings season — more than 450 companies are expected to report. Most notably, Twitter will report on Tuesday, Uber on Wednesday, and Disney on Thursday. See the calendar below.  

The cryptos went crazy over the weekend. Bitcoin briefly broke through 40K while Ethereum fell 15% from Friday’s high. Dogecoin made headlines after Elon tweeted memes of the Shiba Inu-inspired digital coin. See more below. 

Here’s the weekly S&P 500 chart:

And last week’s changes: 

S&P 5003,886+4.65%
Nasdaq13,856+6.01%
Russell 20002,233+7.70%
Dow Jones31,148+3.89%

Crypto Goes Loco

Everyone knows that the crypto markets are crazy and Dogecoin is an incredible example. $DOGE.X has ripped more than 50% since Friday as the Shiba Inu-inspired digital coin now has a market cap of ~$9.2 billion. 🤯

On Saturday, the $DOGE.X stream on Stocktwits saw ~30,000 messages with a Bullish ratio of 27:1. 

Where will Doge go? Nobody knows. 🤷‍♂️ Here’s the daily chart:

Even Elon Musk got in on the fun. The richest person in the world shared this as Dogecoin ticked an all-time high — what a time to be alive.. lol  

A-Rod’s SPACattack

First he dominated the diamond, now he hopes to leave a mark in the markets.

Alex Rodgriguez filed for a $500M SPAC last Thursday under the name Slam Corp.

A-Rod and Himanshu Gulati, the founder, Managing Partner, and CIO of Antara Capital plan to attack the sports, media, entertainment, health and wellness, and consumer technology sectors. 

Additionally, former CEO of Walmart’s eCommerce division Marc Lore will be a special advisor.

Sports SPACs have stormed the Street. Joseph Pompliano shared this in his Huddle Up newsletter last week: 

There are currently more than 40 sports-related SPACs in the market, including investment vehicles led by sports executives and athletes like Oakland A’s executive Billy Beane, Chicago Cubs owner Tom Ricketts, NBA legend Shaquille O’Neal, and many more.

Slam Corp. plans to trade under the ticker $SLAMU. 

Sunday Links:

📈 Feel like you’re the only person who’s not trading options? Here’s an infographic that covers the basics of calls, puts and more!*

🤓 I’m Happy To Be Wrong

📜 Financial Innovation & Historical Recap — Investor Amnesia

📲 Sunday Sentiment… Access To Markets Not Democratization

🙃 What The Heck Is Going On???

🎶 Immanuel Wilkins: Tiny Desk (Home) Concert

⚡️ Most Porsche Sales to Be Electric Cars by 2030

💪 Brooklyn Building With Abolitionist History Wins Landmark Status After 17-Year Fight

*sponsored

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, February 8th, 2021:

Economic Calendar:

  • 2/10 January Consumer Price Index (8:30 AM ET)
  • 2/11 Jobless Claims (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing. 

Earnings Calendar:

Be sure to know when your stocks are reporting. Here’s the earnings calendar: