Tale of the Tape
Happy Friday, Folks!! Congrats on making it through another week. Go grab yourself a drink! 🍻
The S&P 500 and Nasdaq Composite both closed at new all-time highs, but overall, it was a pretty quiet day. The VIX closed at its lowest level since before the Corona crash. Will it finally fill its gap? Place your bets… 😉
Every sector (except real estate and utilities) finished in positive territory. Energy advanced 1.45%. Financials finished up 1% as $XLF closed at a new record high.
Bitcoin and Ethereum both buoyed at all-time highs. Ethereum encroaches on 2,000, while Bitcoin looks to break 50K. Will the cryptos crank higher? Or is it time they finally crack?
The semis and social stocks extend their streak. $SOCL hasn’t had a down-day for 10 straight days. 🤭
$CCIV soared another 27% and closed the day trending #1 on Stocktwits. 🏆 The SPAC is up nearly 300% and has yet to announce a merger.
Emerging markets marched and closed at a new all-time high. ⚡ See the weekly charts below.
The markets are closed on Monday— we hope y’all enjoy the 3-day break!!
Here are the closing prints:
| S&P 500 | 3,934 | +0.47% |
| Nasdaq | 14,095 | +0.50% |
| Russell 2000 | 2,289 | +0.18% |
| Dow Jones | 31,458 | +0.09% |
Weekly Charts
It was an insane week. 🎉 🥂 The small caps continued on their quest. The pot stocks popped, then flopped, while the financials flew to record highs. Check out these weekly charts:
The small-caps have ripped your freakin’ face off since gapping up on November 9th. The Russell 2000 has rallied 13 of the last 15 weeks. Here’s the $IWM weekly chart:
Financials followed last week’s 7% increase with another 2% week. $XLF closed at a new all-time high. Is it nothing but blue skies? ☁️ We shall see.
Crude cruised to its highest price since early January 2020. The commodity got stuffed at 65 a few times in 2019. Can crude continue to carry on? Time will tell…
Emerging markets marched to another all-time weekly high. $EEM is up more than 80% since its March low. 🤯
China tech carried on strong. $CQQQ had its second best week of the year— the ETF is up 30% in 2021.
Bitcoin broke out 23% and is off to all-time highs. The crypto is never closed, so we’ll see if it can cross 50K over the weekend. 🤞
Twitter topped 26% after reporting earnings early this week. The stock closed at 71.90, just 2.83 shy of its all-time high (74.73).
Tilray had a busy busy week. The pot stock popped from $26 to $67 in 3 days, but quickly fell back below $30. $TLRY traded an absurd 707M shares this week… that’s 240% more than its next-heaviest volume week.
Series D at an A+ Valuation
BlockFi is best known for boosting interest in cryptocurrencies. It’s reportedly raising a Series D round. 👀
The company looks to raise $150M to finance its upcoming projects, like a credit card and even a possible IPO before the end of 2021. This round values the company at ~$2.85B.
Who knew that crypto was so valuable. 😉
Spotify Leaves the Office Behind
Spotify’s done it— the company officially announced its Work From Anywhere (WFA) business model. So… who else is trying to apply? 👀
Spotify will permit its employees to select a ‘Work Mode,’ meaning Spotify workers can choose their geographic location, and whether they want to be in an office or at home.
The company cited their rationale for the WFA switch-up:
- Work isn’t something our people come to the office for, it’s something they do.
- Effectiveness can’t be measured by the number of hours people spend in an office. Instead, giving people the freedom to choose where they work will boost effectiveness.
- Giving our people more flexibility will support a better work-life balance and also help tap into new talent pools while keeping our existing band members.
- A distributed-first structure will challenge us to improve our communication and collaboration practices, processes, and tools.
What’s next, a billion-dollar company built exclusively on iPad? 😂
“Btrust” By Jay-Z Feat Jack
It’s not actually a song (Jay-Z did just release a new track last night, though). But it may be something better.
Today, in an unexpected tweet, Jack announced that he and Jay-Z are giving 500 bitcoins (~$24M ) to an endowment called “Btrust” to fund bitcoin development in Africa and India.
The trust will be blind and irrevocable, meaning that neither Jay-Z nor Jack have any say in the direction of the endowment.
Right now they’re looking for three board members. If you feel lucky, apply here! 🍀
Presidential Kicks
If you’re a fan of Nikes, former President Obama, or basketball, these might be the shoes for you.
Sotheby’s will auction off these 1 of 1 sneakers at 4:44 on President’s day (Obama was the 44th president). The shoes are estimated to fetch more than $25k. 👀 💰
The craziest part about the price tag? Obama never actually wore the Nikes— they were just designed in his honor.
All we know? If you pick this pair up, you better drop 44 points in your local pickup game. 🏀
Links That Don’t Suck
✈️ Ready for an adventure-filled 2021? Make it happen for $1. Think Hawaii from $109 or Greece from $247*
🏡 Wendell Burnette Architects Remodels 1952 ‘Haver Home’ in Phoenix, Arizona
💪 Instalimb Uses 3D Scanning and Printing to Make Prosthetic Legs More Affordable
🏈 The Houston Texas Straight Up Released JJ Watt
🦠 China Refuses to Give WHO Raw Data on Early Covid-19 Cases
🤨 Elon Musk Says He Wants New Tesla Roadster to Hover
🏝️ Foster + Partners Designs Coral Bloom Resort on Saudi Arabian Island
🎶 RÜDE CÅT – Think You’re Free | A COLORS SESSION
