Tale of the Tape
Good evening, y’all! Happy Monday!! Don’t forget— today is tax day!!! 👀
The market was mellow to start the week. Every major index closed +/-0.50% on the day.
Energy was the strongest sector. 💪 $XLE flew 2.32% to close at its highest price since February 20, 2020. Basic materials bopped 0.88%, followed by financials +0.18%.
Utilities, communications, and tech all tumbled ~0.75%.
Bitcoin broke to its lowest level since February 8, 2021. Can the crypto find its footing? Or will the free fall carry on?? 🤔 Ethereum tumbled to 3100, then bounced back to ~3400.
Roblox rallied 8.4%. The company also announced its collaboration with Gucci. ✨ Read more below.
Newmont Corporation cranked 4.6% and broke out to blue sky. Check out this monstrous monthly chart:
SPDR® Gold Shares ETH $GLD gained 1.16%, settling at its highest price since January 21, 2021.
Big Box Retailers report earnings early tomorrow. 🎉 Hear Shake’s take on what to expect in tonight’s episode of After Hours. 🌌
And here are the closing prints:
A Viral Vid NFT 📺
Charlie, you bit my finger.
Do you remember the YouTube sensation Charlie Bit My Finger? Well, the video’s stars are all grown up now, and they’re planning to sell their iconic video as an NFT. 💰
But there’s a catch.
At the end of the auction, the original video will be deleted from YouTube forever. ☹️
The video’s auction begins on May 22nd, the 14th anniversary of its debut on YouTube. The auction will take place on CharlieBitMe.com.
The viral vid was made in 2007 when Harry Davies-Carr was seven years old and Charlie was one. The video is known to be the most viral ever on YouTube— as of December 2020, it had received over 881M views.
All the best, bros! Make a new record with the auction. 🥳
Purple Innovation missed earnings expectations, but grew revenue 52% year-over-year. The mattress-by-mail company also raised FY21 sales guidance to $860-900M.
Here are the stats:
EPS: $0.17 vs $0.31 est.
Revenue: $186.43M, +52% YoY
CEO Joe Megibow shared:
Importantly, our recent capacity expansion has us well positioned to take advantage of the strong wholesale momentum we are experiencing as brick-and-mortar traffic further approaches pre-pandemic levels and current consumer spending benefits from recent government stimulus.
$PRPL popped 2.6%.
The Virtual Gucci Garden
High fashion and online gaming is definitely a strange combination. But apparently, it’s trending. 🤔
Beginning May 31, Gucci will host an “artsy garden space” for the users of Roblox, the online gaming platform, so they can explore the fashion world.
Yeah, what the…? How does that even work??
When Roblox users enter Gucci’s Garden, each user becomes a “neutral mannequin” (without gender or age) to symbolize the start of one’s life as a “blank canvas.”
Users can virtually view, try on, and even purchase digital Gucci items. Neutral mannequin avatars can wear Gucci’s products, explore the garden’s different rooms and exhibitions, and (at the end of the experience) each mannequin emerges a unique individual. 🎨 😌
Here’s TechCrunch with more on the digital exhibition.
Mega Media Merger
AT&T just disclosed its $130B merger with Discovery Inc. The deal combines assets like CNN, HBO, HGTV, and Food Network to create a new mega media company. 💪
The merger awards AT&T $43B in cash, with shareholders owning 71% of the new company. AT&T CEO John Stankey said:
This agreement unites two entertainment leaders with complementary content strengths and positions the new company to be one of the leading global direct-to-consumer streaming platforms.
The merger joins AT&T’s media holdings with Discovery’s reality tv assets to compete with media giants like Netflix and Disney.
Buut… the stocks gapped and crapped on the news. $DISCA opened at $39.24, then dashed to $33.85. $T tumbled from $33.51 to $31.37. 🤷
HBD to the NYSE 🥳
Happy birthday to the G.O.A.T., the one and only New York Stock Exchange! 🥳 🎉
229 years ago today, the Buttonwood agreement established the NYSE on Wall Street. The agreement was named after a famous Buttonwood tree on Wall Street, the meeting spot for New York’s first stockbrokers.
The 2-sentence-long Buttonwood agreement (lol) designated the world’s leader for listings and investing technology. In 1967, NYSE President Keith Funston said:
It’s not in the nature of human institutions to be both successful and static. Change, careful change, is a catalyst of growth, a source of renewed vitality. At the same time, change is a result of growth, forcing refinement of traditional procedures and goals.
And we couldn’t agree more. 😊 As a centerpiece for the global economy, the NYSE has proved strength and adaptability (especially throughout the pandemic) worthy of celebration for years to come.
Check out the og Buttonwood Agreement:
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the earnings calendar.
Links That Don’t Suck
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