Tale of the Tape
Good evening, folks. Can you believe today is only Tuesday?? 😴
The Russell 2000 kept its winning streak… the count is 7. The S&P 500 barely closed lower as its streak stopped at 6.
Real estate was today’s strongest sector. $XLRE ran 0.45% and closed at its highest price since March 6, 2020. Energy stalled 1.12%, but $XLE posted an inside day. ⚡ Which way will it break? Place your bets…
Bitcoin and Ethereum both bounced to all-time high territory. 🎈🚀
Emerging markets marched on. $EEM surged 1.06% and closed at an all-time high.
Pot stocks popped. $MJ flew another 13.4% as the marijuana ETF is up more than 100% so far this year.
Chinese tech has been on a tear— Invesco China Technology ETF $CQQQ is up more than 130% since its March low. JC Parets shared this weekly chart on Stocktwits:
Baidu broke out to all-time highs while $FUTU flew 20%.
Roku rallied 7.5% and closed at an all-time high. 📺 🔥
Buffett’s Berkshire broke out to blue skies. Check out its weekly chart:
Twitter posted earnings after the close and the stock drifted higher after hours. See the round-up below.
And here are the closing prints:
Shop Fast with Shop Pay
Shopify will expand Shop Pay, its checkout and payment processing system, to Facebook and Instagram. It’s the first time Shop Pay will be available outside the Shopify platform.
Shop Pay is now available to Instagram users! It will launch on Facebook in the coming weeks. Shop Play on social media platforms will allow faster, more efficient, and secure payments. 70% faster, in fact. 😉
Shop’s manager, Carl Rivera, said:
People are embracing social platforms not only for connection, but for commerce. Making Shop Pay available outside of Shopify for the first time means even more shoppers can use the fastest and best checkout on the Internet. And there’s more to come: we’ll continue to work with Facebook to bring a number of Shopify services and products to these platforms to make social selling so much better.
Read the press release here.
Shares of $SHOP soared 6.5% and closed at a new all-time high. Here’s the daily chart:
Canopy Growth Corporation reported quarterly losses before the bell, but the company expects to be profitable within a year.
Here are the stats:
EPS: ($0.98) vs ($0.21) est.
Revenue: $153M, +23% YoY
Mike Lee, CFO of $CGC, said:
We are executing against our cost savings program, with several initiatives already completed and more underway to build a leaner and more agile business. These cost savings, along with our top-line growth and continued cost discipline, puts Canopy firmly on a path to achieve profitability during Fiscal 2022, with further improvement anticipated beyond.
$CGC got high off its own supply and chugged 11.85% to 2-year highs. 😎 🌿
Twitter reported earnings after the close. The company beat on both top and bottom lines, but failed to meet expectations on daily active users.
Here are the numbers:
EPS: $0.38 vs $0.31 est.
Revenue: $1.29B, +27.7% YoY
Monetizable Daily Active Users: 192M vs 193.5M est.
Twitter CEO Jack Dorsey shared:
2020 was an extraordinary year for Twitter. We are more proud than ever to serve the public conversation, especially in these unprecedented times. We reported a 27% year-over-year increase in mDAU in Q4 2020, reaching an average of 192 million. Our product changes to date are promoting healthier conversations for those who use our service, including advertisers and partners, and we are excited about our plans to continue innovating in 2021.
$TWTR popped to a 7-year high after hours.
Every day seems like a good day if you’re smoking some weed. 🌈 🌿 But today was an even better day, if you invest in pot stocks.
After $CGC reported earnings this morning and $TLRY announced that it will be importing and selling medicinal marijuana in the UK, investors opened their eyes (barely, lol) and started munching on pot socks.
It’s certainly convenient that today is also National Pizza Day. If you get the munchies later tonight (don’t worry, we won’t tell), check out deals from major brands here. And here are Portnoy’s pizza reviews. 😋 🍕
Starlink to the Moon?
A metaphorical moon, of course, because Starlink satellites are designed to stay close to Earth.
In typical Elon Musk fashion, the space mogul disclosed on Twitter today that Starlink would go public in the future:
Once we can predict cash flow reasonably well, Starlink will IPO.
Starlink, a “low latency, broadband” internet service, is being developed by SpaceX to provide high-speed internet to consumers with limited access around the world.
If you’re a Starlink fan (or Tesla, or SpaceX) it’s probably a good idea to keep tweet notifications on for Elon. You never know what he’ll do next. ¯\_(ツ)_/¯
Amazonian Wind Farm
After Amazon pledged to use 100% renewable energy last December, the company just disclosed its latest joint venture with Shell and Eneco— a giant offshore wind farm. 🏝️ 🌬️
Scheduled to operate by 2024, the wind farm will be run by Crosswind Consortium and it’s the largest single-site renewable energy project ever.
The farm will power the Netherlands’ powergrid. Amazon also hopes to contribute to renewable energy transitions in Ireland, the UK, France, Germany, Spain, Italy, and Sweden.
At this rate, the entire world’s going to be powered by wind islands. 🌎
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
📈 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!*
👉 Coin Metrics’ State of the Network: Inflection Points
🏂 Natural Selection Tour 2021: Day 2
🧐 Reddit User Claiming to be Tesla Insider Appeared to Reveal Bitcoin Buy a Month Ago
🧼 From Tiny Bubbles To Frothy McBubbles
🛰 The (Present) State of Starlink’s Network
🇺🇸 Off-Road, Off-Grid: The Modern Nomads Wandering America’s Back Country
🎶 GIVĒON: Tiny Desk (Home) Concert