Tale of the Tape
Good evening, everyone. Today was a turnaround Tuesday following yesterday’s record gains. 👎
Every major index just barely closed in negative territory. The Nasdaq lost 0.05% after being up 0.50% early. The Dow Jones Industrial Average was the biggest loser— the Dow dropped 0.29%. 💔
Utilities, consumer discretionary, and consumer staples were the strongest sectors. Healthcare and tech both tumbled 0.40%.
Bitcoin continues to bounce just below 60K. Ethereum ticked a new all-time high.
Restaurant stocks were hot. Yum Brands bopped 3.11% and closed at its highest price since October 2019. Chipotle and Domino’s Pizza both popped 2.4%— Starbucks soared 1.9% and closed at a new all-time high. ☕
Coinbase reported earnings prior to next week’s IPO. 👀 See more below.
Illumina, Inc. advanced 7.88% after the company released preliminary earnings for Q1 2021. Read the press release here.
And here are the closing prints:
On Topps Of The World 🌎
If you’ve ever bought baseball, WWE, or NHL cards, you probably recognize the name ‘Topps.’ While the trading card brand primarily deals with kids’ collectibles, it’s still worth a lot of grown-up money. 😅
Today, Topps announced its public debut via SPAC ($MUDS). In a deal that values the trading card company at ~$1.163B, Topps is technically a unicorn… despite being 83-years-old.
This won’t be the first time Topps has traded publicly, though. The company was listed on the NYSE in 2007 before going private (at a $385M valuation) with an investment firm led by former Disney CEO Michael Eisner.
So why the interest in going public again? Topps is looking to capitalize on the recent NFT craze by expanding its business model to include digital editions of popular trading cards as NFTs.
We’re thinking these cards might be a bit more valuable than the ones you used to trade with the neighborhood kids. 💰
Coinbase Crushed Earnings
Coinbase reported earnings before its IPO next week. The crypto exchange has 56,000,000 verified users and 6.1M Monthly Transacting Users (MTUs).
Total revenue in Q1 2021 was $1.8B, compared to the exchange’s 2020 full-year revenue of $1.1B. 👀
Crypto markets have observed four major price cycles since 2010 which have typically had durations ranging from two to four years. On average, these price cycles have increased the overall crypto market capitalization significantly from the prior cycle and attracted new users into the cryptoeconomy. These cycles can be highly volatile, and as a result, we measure our performance over price cycles in lieu of quarterly results. We believe that we can create long-term value throughout these price cycles.
Coinbase is expected to make its trading debut on April 14 under the ticker $COIN. 🙌
Read the press release here.
Kim K Is a Queen B?
With the B standing for billionaire, of course (no disrespect to Beyoncé!).
In 2011, Kim K barely made Forbes’ footnotes for her 6.6M Twitter followers. Now, one decade later, she’s officially made history by becoming a member of the World’s Billionaire List.
The pop culture icon is now worth an estimated $1B thanks to her wildly successful companies (KKW Beauty and Skims) and cash flow from some of her other big ventures. This is craziness— she was only worth $780M in October 2020.
Kim K’s reaction? We think this tweet from her first Forbes cover debut sums it up:
Not bad for a girl with no talent!
It’s Electric 🔋
GM confirmed its plans to develop an EV Chevrolet Silverado. 👀
The all-electric pickup truck will be built at the company’s Factory ZERO assembly plant in Detroit and Hamtramck, Michigan. The GMC HUMMER EV SUV will also be built at Factory ZERO.
GM estimates more than a 400-mile range for the EV truck. 🤩 General Motors President Mark Reuss shared:
The vehicles coming from Factory ZERO will change the world, and how the world views electric vehicles. The GMC HUMMER EV SUV joins its stablemate in the realm of true supertrucks, and Chevrolet will take everything Chevy’s loyal truck buyers love about Silverado— and more— and put it into an electric pickup that will delight retail and commercial customers alike.
The company did not provide production dates, but rumors report sometime in late 2022. Here’s GM with more.
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
💰Psychedelics Is a Sector Packed With Winners. It’s Only the Beginning… FREE STOCK REPORT HERE.*
💰 Coin Metrics’ State of the Network #97— Bitcoin On-Chain Indicators Update
🍿 Momentum Tuesday…Momentum Monday Was Not Enough
🏀 Private Equity Is Coming to Professional Sports
🏡 RWM Crosses $2 Billion in AUM, A New Investable Asset Class is Born with Dallas Tanner (CEO, Invitation Homes)
☀️ Geothermal – AVC