How Low Can Crypto Go?

Tale of the Tape

Good evening, y’all, and welcome back to the grande casino! ♠️ 📈 ♦️ 📉

The market of stocks was mixed. The Nasdaq led the major indices while the small-caps struggled to stay above water. 

Technology was the only sector to gain more than 1%. $XLK advanced 1.76%. Communications was second-best— $XLC cruised 0.66%. Financials and energy flopped ~2%. The energy ETF $XLE closed at its lowest price since February 26, 2021. 

Bitcoin and Ethereum both broke lower. $BTC.X and $ETH.X flopped ~5.5%. How low will the cryptos go?? Nobody knows. 🤷

Facebook flew to $300 before settling at $293. The stock soared 8% last week— could it go again? Time will tell… ⏳

Tesla gapped up ~5%, but fell back a few %, like $FB. Will $TSLA fill its gap? Place your bets… Here’s the daily chart:

Jeep just teased the concept of an EV Wrangler. 🔋 😮 See more below. 

Canadian Pacific Railway acquired Kansas City Southern for a breezy $25B. Canada, Mexico, and the U.S. will all be connected via a 20,000-mile rail network. Hip-hip, hooray!! 🛤 

Here are the closing prints: 

S&P 5003,940+0.70%
Russell 20002,266-0.91%
Dow Jones32,731+0.32%

International Railroad X-ing 

ATTENTION, international travelers. For the first time ever, there will be one railroad connecting the US, Mexico, and Canada. 🚃 👀

Canadian Pacific (CP) and Kansas City Southern (KCS) just announced a deal to build an international railroad that will have its central station in Kansas City, MO. 

The railroad will also offer meeting points throughout Canada, the US Midwest and Northeast, and in Mexico. 

Check out the press release

Magneto Isn’t Just a Superhero 

EVs are trending, and every day it seems like a new automotive company throws its hat in the ring. 🤷‍♂️ Today, Jeep introduced an all-electric Wrangler.

The new iconic Wrangler is called ‘Magneto.’ Its specs include 273 foot-pounds of torque, 285 horsepower, a 0-60 time of 6.8 seconds, and a six-speed manual transmission. 💪

Unfortunately, ‘Magneto’ is just a concept vehicle. That means you might have to wait a few years to snag one.

What do you think? Is it worth the wait? Here’s CNET with more.

Waffles on Wheels

The only thing better than an international house of pancakes? A Waffle House! 😋

The chain known for its cheap and delicious waffles has some surprises up its sleeve. For example, did you know the ‘Waffle House Index’ is a great indicator for a region’s post-natural disaster recovery? (It’s okay, neither did we.)

Waffle House’s coolest secret, though? Its catering truck. The company commented:

The Waffle House Catering Team can Scatter, Smother & Cover your school function, birthday party, wedding, corporate gathering or any other event you can dream up. 

Need a caterer for your first post-Covid party? ✨ Check out the truck here.

Vacation, Anyone? 

The TSA reported 1.5M air passengers yesterday… the highest number of travelers since March, 2020. 🥳

Flight travel was down 60% last year, but the growing availability of Covid-19 vaccines has boosted air traffic back to levels not seen since the start of the pandemic— Sunday was the 11th consecutive day of over 1 million US air passenger screenings. 🙌 ✈️ 

International travel demand is still down 68% this year, though. The US restricts travel of non-US citizens from Brazil, South America, Africa, China, and most of Europe. 

Similarly, US citizens can’t enter many international countries. Here’s Reuters with the details. 

Earnings Round-Up

Tencent Music Entertainment Group reported unaudited earnings after the close. The Chinese music streaming service grew revenue 14% YoY, but missed earnings estimates. The company also announced a deal with Warner Music Group to create a Chinese joint-venture music label. 

Here are the numbers:

EPS: $0.12 vs $0.13 est.
Revenue: $1.2B +14.3% YoY

Mr. Cussion Pang, Chief Executive Officer of Tencent Music, shared:

In 2020, we demonstrated resilience and agility during and after the COVID-19 pandemic. We forged ahead with our operations, invested in technologies to customize services and introduced new products to meet the evolving demands of our users. Our fourth quarter results were underpinned by strong performance in online music services, which registered outstanding year-over-year revenue growth of 42% from subscriptions and over 100% from advertising. Even against the backdrop of macro-economic uncertainty and a changing competitive environment, our social entertainment services delivered steady revenue growth alongside moderation in margins as we proactively invested some profit to pave the way for future growth. By investing in various musical genres across multiple formats and enriching long-form audio content, we have further strengthened our content leadership and improved user engagement, reflected in the sequential increase in total user time spent on our platform. Our initial investment in long-form audio started to pay off with 15% long-form audio penetration of our user base in the fourth quarter of 2020, up from 6% for the same period last year.

Earnings This Week

Be sure to know when your stocks report earnings. Here’s the earnings calendar

Links That Don’t Suck

💰The Osprey Bitcoin Trust ($OBTC) offers easy access to bitcoin right from your brokerage account or IRA. Check Us Out HERE.*

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