Tale of the Tape
Good evening, y’all. It was a wild day in the market of stocks.
The Dow continued its drive to all-time highs while the S&P 500 followed close behind. 🚘
Every sector closed in positive territory. Financials flew 1.4%, consumer staples surged 1.3%, and communications clapped up 1.1%. Tech tumbled, nearly knocking out Tuesday’s low before it flipped and ripped. Healthcare was the weakest sector, but $XLV is within 0.5% of its all-time high.
Crypto cranked. 💪 Ethereum ticked a new all-time high above 3,600 while Bitcoin bopped between 58,400 and 55,200. Doge dove 11.45%, but the crazy crypto is still up 71% this month.
It’s nothing but blue sky for Buffett’s Berkshire. ☀️ ☁️ $BRK.A advanced 2.16%— the stock is up more than 30% since its November 7 earnings release. Here’s the daily chart:
Deere dashed to an all-time high. 🦌 The tractor manufacturer closed just $10.09 away from $400.
T-Mobile turned up another 3.5% and broke out to blue sky. Oh my! 🤭
Roku and Square reported earnings after the bell. Hear Shake’s take on tonight’s episode of After Hours. 🌌
And here are the closing prints:
Roku posted yet another impressive profit, outperforming sales forecasts. Revenue grew 79% YoY. 💪
Here are the numbers:
EPS: $0.54 vs ($0.13) est.
Revenue: $574.2M, +79% YoY
Roku said this in its shareholder letter:
Roku delivered an exceptional first quarter led by strong growth in advertising and the expansion of content distribution partnerships. We generated record revenue and gross profit growth, as well as record Adjusted EBITDA. More broadly, the overall secular shift to streaming continues, and Roku benefits as a result of our leading technology and scale.
$ROKU ripped 7% after hours. The company has closed red the last 8 days. Can it snap the streak tomorrow?? Place your bets…
Square smashed earnings and revenue expectations, thanks to Bitcoin revenue growing 11x YoY.
Here are the details:
EPS: $0.41 vs $0.16 est.
Revenue: $5.06B, +266% YoY
$SQ spiked 2.5% after hours.
GoPro fell short on earnings, but blew revenue expectations out of the water. 🧨 The action-tech company even achieved 1 million subscriptions.
Here are the stats:
EPS: ($0.07) vs $0.00 est.
Revenue: $204M, +71% YoY
GoPro CEO Nicholas Woodman shared:
This is the new GoPro. We’ve evolved from a hardware unit-sales-centric business to a successful direct-to-consumer subscription-centric business with a significant opportunity to grow margin and profitability.
$GPRO gained 8% after hours. It’s on a 6-day losing streak. We’ll see if it can hang in the green tomorrow.
No Place Like Home
Coinbase CEO Brian Armstrong must really like his home office. 😅
Last year, Armstrong announced the company’s “remote first” work model lacking an official HQ— yesterday, the executive put his money where his mouth is. Coinbase doubled down to announce the official closing of its San Francisco office in 2022.
Why close the office if it’s not the HQ? Coinbase’s News twitter account put it this way:
Closing our SF office is an important step in ensuring no office becomes an unofficial HQ and will mean career outcomes are based on capability and output rather than location.
Which makes sense. After all, everyone knows parents actually do have favorite children. 💁
$COIN closed 33% off its April 14 opening print. Here’s the daily chart:
Uganda’s Jinja City is Lit 💡
The streets of Uganda’s Jinja City are lit. Literally— with solar-powered street lamps.
In 2016, Jinja City racked up a power bill of almost $3.5M, forcing the region’s largest energy distributor to disconnect its street lamps. Not only that, many of the nation’s colonial-era streets didn’t have nighttime lighting at all.
Jinja City’s solution to its illumination crisis? Solar-powered lamps with photovoltaic panels, batteries, and mini power stations to support widespread eco-friendly lighting. 😍 ♻️
Reports show the solar-powered lamps contribute to reduced energy use, lower costs, and fewer traffic accidents. Bernard Mbayo, a Jinja City councilor, said:
The most important [thing] is the fact that now we are able to save a lot of money that would have gone into paying bills for electricity.
Maybe we take a page out of Uganda’s book and look into some sustainable lighting… 👀
Pre-Order Your Flying Car Today!
Would you pre-order your first flying car? 🤔
ASKA, Next Future Mobility’s (NFT) hybrid plane and SUV, could be ready for takeoff as soon as 2026. The vehicles are “drive and fly” aerial cars, allowing passengers to travel by road or air.
ASKA has vertical takeoff capabilities (VTOL) and lands like a regular aircraft. With a 250-mile flight range, ASKA is electric-powered and features a redundant safety system. Maki Kaplinsky, NFT’s Co-Founder and Chair/COO, said:
To build a better society and a better economy, we need better transportation solutions, and flying cars will be a part of that equation.
The best part about this new flying car? You can pre-order it now. Here’s designboom with the details.
No Merger For You!
We’ve got good news and bad news for fans of The Athletic.
The Bad: The Athletic is no longer in talks with Axios for a potential merger.
The Good: The publication is still on the hunt for a suitable partner to expand its business.
The Athletic is a premium ($7.99/mo) publication covering teams in all major US sports. Over the last few years, it’s amassed an impressive team of writers through competitive pay increases. In January 2020, the publication raised $55M at a $475M valuation. The Athletic also reportedly generated $80M in revenue during 2020.
Originally, the publication was in talks with Axios and a blank check company to go public. But now, it looks like both conversations have fallen through. Sources close to the company indicate that NYT could be The Athletic’s latest target.
Can The Athletic find a slam dunk deal? 🏀 💭 Or will it airball its attempts?
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
💰Osprey Polkadot Trust offers accredited investors access to Polkadot, the decentralized platform aiming to power the emergence of Web3. Check it HERE!*
💰 Coin Metrics Nets $15M Series B Led by Goldman Sachs
💧 Colorado Is Examining Water Speculation, And Finding It’s ‘All The Problems‘ In One
📈 Measuring Everything In Dogecoin
🐜 Tall Ventilation Towers in Kéré Architecture’s Kenyan Education Campus Mimic Termite Mounds
🔋 Salmela Designs Electric Bungalow in Minnesota for Architecture Professor