Tale of the Tape
Good evening, everyone. It was another turnaround Tuesday in the markets today. 🌪️
After pulling in during the first two trading hours, the market made a switcheroo. Three of the four major indices traded higher, and the Dow only fell 0.09%.
Clover Health was WSB’s latest target. 🚀 Shares of the medicare insurance company more than doubled intraday before closing +86%. Here’s $CLOV’s daily chart:
Energy closed at new 52-week highs. Consumer discretionary climbed 0.81%, and utilities urched 0.90% lower.
The Bitcoin bear flag came to fruition. 🐻 $BTC.X dropped 6% yesterday, falling to $31K in the am before rallying to $33K.
Here are the closing prints:
| S&P 500 | 4,227 | +0.02% |
| Nasdaq | 13,924 | +0.31% |
| Russell 2000 | 2,343 | +1.06% |
| Dow Jones | 34,599 | -0.09% |
All Publicity Is Good Publicity
If you made the mistake of waking up early, you probably noticed some of your favorite sites were down.
A global failure of Fastly’s content delivery network (CDN) this morning caused outages on sites like Twitch, Pinterest, Reddit, Spotify, Twitter, and Google. Thankfully, the outages were resolved within three hours.
Anyone else feel like widespread outages have become more frequent? Yeah, us too. Global brands increasingly rely on internet infrastructure like Fastly and Cloudflare. Cloudflare’s DNS platform went down last July and it took a chunk of the internet with it.
Despite the bad publicity, though, $FSLY actually had a good day. 🤷 The stock rose 10.85% to (mostly) fill the gap from its May 6 earnings report.
Bitcoin’s Bleeding
Bitcoin’s horrific run isn’t over yet. 😭 The cryptocurrency plummeted 10% and tanked to its lowest point in weeks.
News of the DOJ seizing $2.3M in Bitcoin triggered the plunge. The department cited its investigation of Colonial Pipeline’s cyber attack (the ransomware was paid in BTC.X) as the reason for interference.
This is bad news for crypto fans— there’s now controversy about whether or not crypto is beyond government control.
The news also affected altcoins like Ethereum and Dogecoin, which fell ~8% or more. Oh, and the IRS chief asked Congress for authority to collect cryptocurrency transfer data.
Bitcoin dipped more than 40% over the last month. Will Bitcoin hit bear territory? 🐻 Time will tell…
Become a ‘‘DogeFather’’
Good news for Doge lovers!! You too can become a “DogeFather” like Elon Musk.
Doge fans can now buy their favorite meme in NFT form. The iconic image of the Kabosu the Shiba Inu will be auctioned on Zora, an NFT auction site, and it’ll be curated/certified by the internet meme database Know Your Meme.
Want to be a dog parent without actual responsibility? Now’s your chance. 😅
The FBI’s Virtual Trojan Horse
The FBI just pulled off a Trojan Horse… 21st century style.
“Operation Trojan Shield” is an encrypted communications platform known as ‘Anom.’ Anom was used by criminals to coordinate illegal activity, but the platform was actually run by the FBI. 😅
Yeah, bad news for users.
“Operation Trojan Horse” oversaw 27 million encrypted messages from 12,000 users in 100 different countries. The international op started in 2008 and required cooperation between 9,000+ law enforcement offices. FBI Special Agent Suzanne Turner commented:
The immense and unprecedented success of Operation Trojan Shield should be a warning to international criminal organizations—your criminal communications may not be secure; and you can count on law enforcement world-wide working together to combat dangerous crime that crosses international borders.
Anom was programmed to secretly intercept and decrypt users’ messages. Thanks to the platform, police have conducted 800+ arrests in 16 different countries. And officials have seized 8 tons of cocaine, 2 tons of synthetic drugs, 250 firearms, 55 luxury cars, and $48M in currency.
Think about the Trojan Horse before doing something illegal online. 💀 🐴
Links That Don’t Suck
💉 FDA Approves Popular Diabetes Medication for Use as Weight Loss Drug
📸 Apple’s RealityKit2 Allows Developers to Create 3D Models for AR Using iPhone Photos
🦖 New Dinosaur Species Found in Australia Was as Long as a Basketball Court
🚢 The World’s Last Turntable Ferry Has a Really Clever Design
🏌 Swiss Golfer Shatters World Record for Most Holes Played in a Day
🚀 Richard Branson May Have a Surprise for Jeff Bezos
