Tale of the Tape
Good evening, everyone, and happy hump day! The market of stocks crawled higher as every major index closed green. 💚
The Russell 2000 rallied 2% and the Nasdaq gained 0.6%. 💪
Consumer discretionary and energy both ripped 0.90%. Healthcare was the weakest sector, -0.60%.
Bitcoin bounced between 38k and 40k. Ethereum eased 3.2% higher to $2,800. Is $ETH.X ready to retest $3K??
Memestocks are back in full force. Gamestop gained 16% while AMC ascended 19%. 🚀 🚀 Here’s $GME’s daily chart:
Zscaler zipped 12.4% after reporting Q3 earnings. Read the round-up below. 🤠
A Dutch court ordered Shell to cut 45% of its carbon emissions by 2030— an unprecedented ruling. As the world moves away from fossil fuels, activist group Engine No. 1 gained Exxon board seats to show investors’ support for corporate transparency. 🌎
MemeStocks are back, so we made some merch. Check out the collection here to find a fit before it’s too late!! 🚀 👕
Here are the closing prints:
| S&P 500 | 4,195 | +0.19% |
| Nasdaq | 13,738 | +0.59% |
| Russell 2000 | 2,249 | +1.97% |
| Dow Jones | 34,232 | +0.03% |
The Golden Age of Amazon 🎞️
Amazon’s recent lawsuit certainly isn’t putting a damper on its spirits— the e-commerce giant just closed an $8.45B merger with MGM.
Amazon’s latest acquisition will contribute to its Amazon Studios service, offering greater access to MGM’s film catalog and storytelling talents. Mike Hopkins, Senior VP of Prime Video and Amazon Studios, commented:
MGM has a vast catalog with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys.
The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.
MGM Chairman Kevin Ulrich shared:
I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination.
Who knows… maybe Hollywood’s next Golden Age will premiere on Prime? 😅 🌟
Ford’s EV Evolution
Ford’s looking forward to an electric future!! The auto manufacturer shared its aspirations at today’s ‘Delivering Ford+’ Capital Markets Day.
The car maker plans to spend more than $25B on electrification by 2025. Ford also expects 40% of its entire global vehicle volume to be all-electric by 2030. 🤯
$F will create a Ford Ion Park in an effort to innovate battery technology. The company even established “Ford Pro” for its commercial and government customers.
We can’t wait for the electric Bronco. Soon, hopefully. 🤞 Read the company’s press release here.
$F flew 8.5% today and closed at its highest price since July 2016. Here’s the wild weekly chart:
Another Crypto Closing 🚫
It’s not just China— today Iran banned crypto mining until September 2021. To make matters worse, Iran is experiencing power blackouts in its major cities.
Today, President Hassan Rouhani blamed Iran’s blackouts on crypto mining, drought, and increased power demand. He said the country’s government can’t sustain its summer electricity needs.
Will it be a sad summer for crypto?? Who knows.
$GME & NFTs ⛓
As Memestock NFT-mania heats up, $GME is all in. 🔥
The company launched a new web-page called ‘Change The Game.’ Gamestop even dropped a help wanted sign:
$GME flew 15.8% to close at its highest price since March 12. Talk about a wild ride. 🎢
Here’s the monstrous monthly chart:
Earnings Round-Up
Nvidia dropped earnings after the bell. 🔔 The tech company hit record revenue in its first quarter as demand soars.
Here are the numbers:
EPS: $3.66 vs $3.28 est
Revenue: $5.66B, +84% YoY
Nvidia’s CEO shared this:
We had a fantastic quarter, with strong demand for our products driving record revenue. Our Data Center business continues to expand, as the world’s industries take up NVIDIA AI to process computer vision, conversational AI, natural language understanding and recommender systems. NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of NVIDIA-powered laptops. Across industries, the adoption of NVIDIA computing platforms is accelerating.
Snowflake failed to meet earnings estimates, but beat on revenue. Buffett’s software bet raised its Q1 revenue 110% YoY. ❄️ 💰
Check out the numbers:
EPS: -$0.70 vs -$0.51 est
Revenue: $228.9M, +110% YoY
Snowflake CEO Frank Slootman said:
Snowflake reported strong Q1 results with triple-digit growth in product revenue, reflecting strength in customer consumption. Remaining performance obligations showed a robust increase year-on-year, indicating strength in sales across the board.
$SNOW fell 3.55% after hours. ❄️
Zscaler beat on top and bottom lines in its Q3 earnings report. The cyber security company grew revenue 60% YoY.
Here are the stats:
EPS: $0.15 vs $0.07 est.
Revenue: $176.4M, +60% YoY
Jay Chaudhry, CEO of Zscaler, said:
We delivered outstanding results for the third quarter, with revenue growth accelerating to 60% year over year and free
cash flow reaching a new record. Our Zero Trust Exchange platform is helping customers realize their digital transformation goals and architect for the new normal of the work-from-anywhere economy.
$ZS zoomed 12.4% higher.
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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👏 Introducing Osprey Algorand Trust
🥊 A History of the Brooks Koepka-Bryson DeChambeau Beef
🏡 The Alsop House, One of Only Seven Frank Lloyd Wright Usonian Homes in Iowa, Is for Sale
🎙️ Alone and Injured in the Wild
📺 ‘Hacks’ on HBO Max: The Boomer-Gen Z Buddy Comedy Written By Millennials
