Tale of the Tape
Good evening, everybody, and welcome back to the grande casino!! 🥳 💰
The market was mixed on Monday. The small-caps struggled as the Russell 2000 tumbled 2.83%. The Dow Jones Industrial Average was the only major index to finish in positive territory.
Utilities, communications, and consumer staples all advanced more than 1%. Financials flopped 0.87%, while energy fell 1.19%.
The cryptos cruised north. ⤴️ Bitcoin bounced ~3.1% while Ethereum surged 7%.
DraftKings dropped 8.4%. The company announced a historic partnership with WWE, and the stock still couldn’t catch a bid. 🤷♂️
RH ripped, then dipped. The stock ticked a high of $610 before reversing and finishing at $565.
The FAANG gang all gained as the NYSE FANG+ Index inched 0.88%. Facebook flew 2.76%. Netflix and Google both galloped at least 1%. 🚀 See the charts below.
Here are the closing prints:
S&P 500 | 3,971 | -0.09% |
Nasdaq | 13,059 | -0.60% |
Russell 2000 | 2,158 | -2.83% |
Dow Jones | 33,171 | +0.30% |
Was That A Double Bottom?? 🍑
The FAANG Gang tried to follow through after last Friday’s freaky reversal. The NYSE FANG+ Index advanced 0.88%. Here’s the daily chart:
Facebook was the strongest stock in the bunch. $FB flew 2.76%.
Netflix nudged up 1.16%.

Google gained 1% and continues to hold its earnings gap. Where will $GOOGL drift next?? 🤔 Place your bets…
Amazon accelerated 0.78%.
Apple lagged and only advanced 0.15%.
Was Friday a double bottom for the FAANG Gang?? Time will tell… ⌚️
An Electric Leak ⚡
Earlier today, someone scrolling through Volkswagen’s website noticed something— a press release scheduled for April 29, 2021.
The release exposed VW’s future name change to ‘Voltswagen.’ The move comes in the US as part of a larger effort to promote national EV efforts. Although the company declined to comment on the release (which has since been taken down), close sources authenticated it, saying the plans have been circulating internally.
The release also included a plan to incorporate light blue branding in EV logos to “differentiate new, EV-centric branding.” This was talked about in VW’s ‘Power Day’ earlier this month when Volkwagen disclosed its future plans for EV technology.
We think the new name is pretty shock-ing. 😉 ⚡
Oopsy Daisy 🐯
Archegos Capital Management, the private hedge fund overseen by billionaire Bill Hwang, sold truckloads of shares and triggered some market chaos. Oops… 🤦
Who’s Bill Hwang? He’s the successor of hedge-fund guru Julian Robertson. Hwang currently manages Archegos, which is also known as the ‘Tiger Cub.’ 🐯 Archegos’ predecessor is Tiger Management— the 1980 hedge fund famous for turning its initial $8.8M investment into a cool $22B.
Anyway, Archegos handles an estimated $10B. The fund’s high net worth prompted a $30B liquidation spiral that has its investors (like Credit Suisse and Nomura Holdings) feeling the heat. Credit Suisse commented:
A significant U.S.-based hedge fund defaulted on margin calls made last week by Credit Suisse and certain other banks. Following the failure of the fund to meet these margin commitments, Credit Suisse and a number of other banks are in the process of exiting these positions.
Nomura fell 16% and Credit Suisse flopped 13%, drops not seen since last March.
Here’s the WSJ with more on the hedge-fund drama.
Spinning in Space
What’s your favorite place for a relaxing vacation? Hawaii? The Maldives? How about… outer space???
According to Tim Alatorre, the project’s chief architect, a commercial space hotel could be ready to host you and your squad as early as 2027.
Alatorre claims the project could be completed as soon as one year after he finds enough rockets capable of soaring 2,000 km (~1,243 mi) above Earth’s surface. He also said the hotel “…will be rotating at approximately 1.2 revolutions per minute, which is slightly faster than the second hand of a clock.”
What do you think? Would you vacation in the void of space? 🎡 👽 Here’s Dezeen with the full story.
“What the hell is an NFT”
If you still don’t understand what the hell an NFT is and you’re scared to ask… let SNL help.
SNL’s rendition isn’t exactly refined, but where else can you find Robin (Pete Davidson), Morpheus (Chris Redd), and a janitor (Jack Harlow) parody an Eminem song that explains NFTs to Janet Yellen (Kate McKinnon)?
Here are some of the video’s high-quality lyrics:
Hey, here’s the thing about NFTs. It’s a Non-Fungible Token, you see. Non-Fungible means it’s unique. There can only be one, like you and me.
Now we just wait for this heat to drop on Spotify… 🔥 🔥
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
🌙 D.LIM Architects Blends Crescent Moon-Shaped Rest Area into Korean Mountains
🤷 Anything Can Happen
💸 Everyone Is an Investor
🍿 Sunday Reads….WTF Is Bitcoin Anyway and The Excess of Everything
☀️ What Went Into Building Europe’s Largest Floating Solar Park
🎙️ The Episode of Everything: Balaji on Bitcoin and Ethereum, Media Self-Defense, Drone Warfare…
🤝 Adam Neumann’s Final WeWork Act – Helping SoftBank’s SPAC Deal