Tale of the Tape
Good evening, folks, and welcome back to the grand casino!! 🎰 💸
The market of stocks was mixed on Monday. The Nasdaq Composite closed at its lowest price since December 15, 2020 while the Dow dashed to an intraday all-time high.
Here’s today’s S&P 500 heat map for your viewing pleasure:
Crypto continues to creep higher. $BTC.X bounced 1.5% while $ETH.X inched 3.3%
Chinese tech collapsed 7.1% as $CQQQ closed 22% off its February 16th all-time high. 📉 💥
Disney ripped 6% and finished above $200 for the first time ever. 👀
Berkshire broke out to blue skies while Burlington bounced 8.88%.
The MemeStocks marched on. 🚀 $GME flew 41% and ticked an intraday high of $210.87. $AMC advanced 15.4%. 🍿
Tesla tumbled 5.8%. The stock is now down 12% since its inclusion in the S&P 500 last December.
StitchFix reported earnings after the close. 🧵 🧷 The stock dropped ~22% after hours. See the round-up below.
Here are the closing prints:
Who Is Hetty Green?
Happy International Women’s Day! Show the ladies in your life some love today. 💞
In honor of the holiday, we’re highlighting Hetty Green— the 19th-century’s ‘Witch of Wall Street.’
Hetty was the wealthiest woman in America in the 1800s. Dressed all in black (how she earned her nickname), Ms. Green oversaw real estate deals, bought and sold railroads, gave loans to banks and cities, traded stocks, and even foreclosed properties.
Hetty Green was a mysterious character, but she was undoubtedly a brilliant financier. She pioneered value investing (Warren Buffet can thank her for that) and amassed a giant fortune during the women’s suffrage movement. 💪 💰
Here’s a book about her. In honor of today, check it out!!
Stimulus Status 💰
Your $1,400 stimulus checks could be delivered as early this week, assuming the House passes the $1.9T relief package on Tuesday. 🙌 Unlike last year, you shouldn’t have to wait weeks (and weeks, and weeks) to get your check.
In 2021, Americans with non-citizen spouses, relatives of those who died in 2020, and incarcerated people will all be eligible for stimulus checks.
A US Treasury spokeswoman said:
Treasury stands ready to implement the direct payment check program as soon as the American Rescue Plan is passed.
One of the House’s foreseeable challenges is the child tax credit— taxpayers earning less than $200,000 will receive an additional $3,000 per child in stimulus. With almost 160M households eligible for relief, the government’s definitely got some work to do. 💪
Stitch Fix Earnings
Stitch Fix reported earnings after the close. The online retailer grew revenue 12% YoY and beat earnings estimates, but reduced its forward-looking guidance. The stock dropped ~20% after hours.
Here are the numbers:
EPS: ($0.20) vs ($0.21) est.
Revenue: $504.08M +11.6% YoY
Net Revenue Per Active Client: -7% YoY
Stitch Fix Founder and CEO Katrina Lake shared:
In our first two quarters we had more net active client additions than in our entire past fiscal year, and we delivered one of our strongest Januarys on record. This level of demand for our model of personalized discovery and radical convenience positions us well to continue to capture share amidst the ongoing shift in the retail landscape, and gives us confidence in our long-term opportunity. The fundamentals of our business are strong, we continue to expand our service in innovative new ways, and we are excited to continue to deliver on our strategy.
Starlinked SUVs (And Other Vehicles Too)
SpaceX has a way of setting crazy goals, and today was no exception. Elon’s company sent a request to the FCC stating:
This application would serve the public interest by authorizing a new class of ground-based components for SpaceX’s satellite system that will expand the range of broadband capabilities available to moving vehicles throughout the United States and to moving vessels and aircraft worldwide.
Soo… what does this mean? SpaceX wants to connect its Starlink satellite network to moving vehicles, from cars, to jets, to ships— anything that transports people or things. This connection would allow for high-speed internet anywhere in the world, a massive benefit for transportation in rural areas.
If you want to check it out for yourself, the public (home) version of Starlink is currently in beta. You’ll get speeds of 50-150 mb/s for $99/mo (plus a $499 starter package that includes a satellite dish and router).
This reminds us of one of the most annoying ads of all time: your Buick has wifi? 🤣
An NFT So Good, You’ll Want To Taste It
You’ll either hate or love this story, depending on how you feel about NFTs. 🤷
Today, Taco Bell (yes, the fast food chain) released a series of NFTs in a tweet. The sale’s proceeds will go towards the Taco Bell Foundation, a not-for-profit that awards scholarships and grants throughout the country.
The gif above, entitled “Ever-Crunching Tacos,” was released as 1 of 5 NFTs in a series. One person even paid $8500 to own it.
What do you think? 🤔 Is this a smart investment, or would they have been better off purchasing 472 taco 12-packs?
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
📈 Use symbol: GDLC for an efficient way to get diversified crypto exposure in your brokerage account*
🙏 This Unique Hokkaido Retreat Was Designed Using an Algorithm
🧐 Is There A CRACK In Your SPAC…
🌵 Tesla Is Plugging a Secret Mega-Battery Into the Texas Grid
💬 A Word on NFTs
🇨🇳 Chinese Beauty App Becomes First Major Company to Buy Ether
🍿 Stimulus (Sentiment) Sunday – The America Rescue Plan
🙅♀️ Excel Never Dies
⚡️ NASA’s First All-Electric Airplane Moves One Step Closer To Take-Off