Power Hour 💪

Stocks shot up in the last hour of trading, and the S&P closed at a new all-time high. 🍻

Tale of the Tape

Good evening and happy freakin’ Friday, everyone! 🥳 🎊 Yet another crazy week in the books for 2021.

Stocks were flat all day… until they decided to pre-game the weekend. 🍻 The last hour of the day was a power hour with all four major indices closing strong. 💪 

The S&P closed at a new all-time high and led the small-caps by the skin of its teeth. The Nasdaq and Dow weren’t far behind, though.

Communications was the black sheep today as it was the only sector to close red (-1.09%) amidst the sea of green. 

Materials, healthcare, energy, and real estate all surged 2%+ on the day. Consumer staples and industrials led the pack up ~1.75%.

Crypto rebounded today. Bitcoin broke above $54k and Ethereum climbed to $1,667… but cryptos don’t close, so where will they go next? Remember: you can always hop on Stocktwits this weekend to feed your crypto craze. 🤪

Today, Elon tweeted that he thinks Tesla could become the world’s biggest company. Funny, because $TSLA closed down 3.39%. 🤔

Even though it’s getting warmer, $SNOW still managed to jump 8.32%. Is a second winter coming? ❄️

Here are the closing prints: 

S&P 5003,974+1.66%
Russell 20002,221+1.76%
Dow Jones33,072+1.39%

 Apple Extreme?

If you’re an Apple fan who’s either very clumsy or very adventurous, we might have some good news!

According to Bloomberg, Apple might launch a new Watch with rugged casing for “…athletes, hikers, and others who use the device in extreme environments.

Apple dubbed this new version the “Explorer Edition.” It’ll be sold alongside normal versions of the watch, like the current SE and Nike editions.  

We’re pretty extreme here at Stocktwits (fine, extreme-ly clumsy), so this sounds like something we could use. 😁

Cutting The Cable, But Not The Credit Card

When streaming first came on the scene, consumers thought it was a better and cheaper way to watch tv shows. After all, Netflix used to be just $7.99.

That’s not the case anymore. As more companies craft their own streaming plans, consumers are paying more and more each month to keep watching.

If you combine the current costs of Amazon Prime Video, AT&T Now, Netflix, and Disney+, you’re paying $92 a month. The average cost of a cable-TV subscription? $93.50. The worst part about that streaming package? It leaves out Discovery+, Apple TV+, HBO Max, Peacock, and more… 😡

Will streaming survive the surplus of services? Only time will tell… 

Burning Man Weirdness

Burning man is weird, and Alexandra Lier’s Mutant Vehicles artbook captures the essence of the desert festival’s weirdness. 🏜️

Mutant Vehicles showcases the bizarre cars at the Burning Man festival dating back to 2014. Through high-quality photography and interactive elements, you too can (kind of) relive the Burning Man experience. 

Check out some of these wacky pics: 

Here’s Designboom with the details. 🚗

Will WeWork’s SPAC Work?

The successful shared-office provider WeWork just agreed to a SPAC merger that’ll take the company public. 💰

WeWork’s merger with BowX Acquisition Corp values the real estate company at $9B. And not only that— the deal’s expected to take WeWork public after its failed IPO in 2019.

While $9B doesn’t exactly compare to WeWork’s $47B private valuation in its Softbank Group Corp funding round, you can’t be picky after a failed IPO launch and a pandemic that totally vacated office spaces. 🤷

BowX Acquisition Corp is sponsored by Bow Capital Management. Bow Capital’s run by Vivek Ranadivé, the Sacramento Kings’ owner and the founder of Tibco Software Inc. 💪 

Here’s the WSJ with more. 

Links That Don’t Suck

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