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To: The Ox who wrote (6220)3/18/2021 6:43:09 PM
From: Julius Wong
1 Recommendation   of 7152
Lumber up

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From: Julius Wong3/18/2021 7:58:04 PM
1 Recommendation   of 7152
Investors dumping stocks on Fed policy are making a mistake, Jim Cramer says

Key Points

CNBC’s Jim Cramer defended the Federal Reserve’s decision to leave interest rates unchanged, saying it’s a mistake to dump growth stocks out of fear of rising inflation.“Higher rates are bad for the economy. Powell doesn’t want us to take that hit if we don’t have to,” the “Mad Money” host said.“I think Jay Powell’s right to focus more on full employment than low inflation ... I bet he’ll be right about the transient nature of the commodity price increases,” he said.

watch now

Cramer breaks down how interest rates impacts stock trading
Mad Money with Jim Cramer

CNBC’s Jim Cramer said Thursday that it’s a mistake to dump stocks in reaction to the Federal Reserve’s decision to leave the interest rate unchanged.

He defended Fed Chairman Jerome Powell, who the day prior maintained the central bank’s goal to keep short-term borrowing rates low to support the U.S. economic recovery, even if inflation picks up in the near term.

“Higher rates are bad for the economy. Powell doesn’t want us to take that hit if we don’t have to,” the “ Mad Money” host said. “He doesn’t want his legacy to be botching the recovery … [not after he] acted so aggressively last year to keep the economy from crashing.”

The Fed slashed rates last year in response to the coronavirus pandemic. Now many market watchers are trying to anticipate the Fed’s next move as the economy gains traction.

Mandates put in place to slow the spread of Covid-19 upended the economy and threw the country’s unemployment rate into double-digit range. The jobless rate has since fallen to 6.2% as of February, and Powell said the Fed would prioritize giving the labor market room to recover.

“I think Jay Powell’s right to focus more on full employment than low inflation ... I bet he’ll be right about the transient nature of the commodity price increases,” Cramer said.

“Wall Street freaked out last year when Powell cut rates aggressively, and they’re freaking out again now that he’s decided to keep rates” low, he added.

While a low-interest rate environment is good for stocks, not all stocks are created equal, Cramer said.

Industrial businesses are winners when rates are low, while growth names — particularly those in tech that trade on future earnings expectations — are getting hit because those later profits are not as attractive if inflation eats into their value, he said.

The Fed now projects gross domestic product to improve by 6.5% this year, up from a 4.2% projection it made in December. As the U.S. economy reopens and more consumers venture outside of the home more, cyclical companies, such as travel, will stand to benefit greatly, Cramer said.

“The Fed’s basically saying, ‘Party on, industrials,’ which causes the hedge funds to buy them hand over fist,” the host said.

“Problem is, if they want to buy the banks or the smokestack stocks … they need to sell something else,” he said, such as “the high-growth tech stocks that they always dump, and that’s called the hedge fund playbook.”

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From: Julius Wong3/19/2021 7:06:44 AM
   of 7152
Charmin Unveils First NFT Toilet Paper Artwork

One of them is currently going for more than $2,000 USD.

Charmin has officially hopped on the non-fungible token train, launching its own toilet paper-themed NFT, or as the brand calls it NFTP (non-fungible toilet paper).

Charmin’s NFT is expected to come with a “physical display” in case owners would want to “hang your NFTP in your bathroom alongside your IRL rolls.” Charmin has five designs ready for bidding, selling only one NFT per design. The company has announced that all proceeds from the NFT sales will go directly to humanitarian aid non-profit, Direct Relief. So far, bids for the NFTP range between $500 USD to $2,100 USD.

Charmin is no stranger to jumping on trends to generate social buzz. CNN reported that just last year, Charmin “released a Bluetooth-enabled robot that delivers toilet paper straight to the bathroom when users run out.” Charmin is not the only brand to jump on the cryptocurrency trend. Just this week, news platform Quartz began selling its debut NFT news article and Pizza Hut Canada announced their “non-fungible pizza.”

Those interested can check out Charmin’s NFTPs on Rarible.

In other NFT news, Patrick Mahomes debut NFT collection rakes in $3.4 million USD in just 30 minutes.

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To: Julius Wong who wrote (6222)3/19/2021 9:13:21 AM
From: The Ox
   of 7152
Follow Cramer at your own risk... Sure, he's made some great calls but he's also been advocating bad choices at the wrong times as well.

I would be a bit cautious about reading too much into the last few days in the markets because we're at triple witching today.

1st quarter earnings are approaching and comps to last year should not be difficult for many companies.

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From: Julius Wong3/19/2021 9:18:37 AM
1 Recommendation   of 7152
Bitcoin ETF hits $1 billion AUM
Mar. 19, 2021 8:40 AM ET Bitcoin USD (BTC-USD) By: Jason Capul, SA News Editor 7 Comments

Purpose Bitcoin ETF, the first-ever launched bitcoin ( BTC-USD) exchange traded fund, has just crossed the $1b assets under management threshold. The ETF was created to help bring cryptocurrency to the mainstream.

CEO of Purpose Investments, Som Seif, stated, “When we launched Purpose Bitcoin ETF, we knew we were filling a void in the market. Hitting this milestone so quickly proves that investors are seeking convenient, safe access to cryptocurrencies and shows their confidence in our ETF as the premier vehicle for that exposure.”

Bitcoin, which has been on a tear this year, is currently trading just over $59,000 and is up over 100% YTD. See below a chart of bitcoin’s performance against the S&P 500 over a one-year period.

The Canadian exchange traded fund was the first launched bitcoin ETF, and it’s the only ETF that invests in and holds 100% physically settled Bitcoin.

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From: Julius Wong3/20/2021 7:52:25 AM
   of 7152
CIIG Merger Corp. Announces Stockholder Approval of Business Combination With Arrival S.à r.l;

Ordinary Shares of the Combined Company Expected to Begin Trading on Nasdaq Under the Symbol “ARVL” on March 25, 2021

NEW YORK & LONDON--(BUSINESS WIRE)--CIIG Merger Corp. (“CIIG”) (NASDAQ: CIIC), a US publicly-traded special purpose acquisition company, today announced that its stockholders voted to approve the previously announced business combination with Arrival S.à r.l. (“Arrival”), the global company creating electric vehicles with its game-changing technologies. The vote took place during a Special Meeting today, and a Form 8-K disclosing the final voting results is expected to be filed with the Securities and Exchange Commission today.

The closing of the business combination is anticipated to take place on March 24, 2021. Following this, the combined company will be renamed Arrival and its ordinary shares and warrants will trade on the Nasdaq Global Select Market beginning on March 25, 2021 under the ticker symbols “ARVL” and “ARVLW” respectively.

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To: The Ox who wrote (6224)3/21/2021 12:59:09 PM
From: Cogito Ergo Sum
   of 7152
There is a fear of rates divide between the younger set and I mean 40-50 year olds and younger that never really encountered actual HIGH rates.. There is an initial blowback.. then a realisation .. Just do not panic at the wrong time :)

Boomer.. first Mortgage 10.,25.. upped to 12.75 after one year for 3 year term.. then dropped like a stone...

Tech is such a HEAVY weight on rising rates.. it cannot be discounted.. and is only getting stronger...

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From: Julius Wong3/22/2021 3:30:27 PM
   of 7152
Longview Acquisition Corp. II inches up after IPO even as sister SPAC’s gains top 80% (update)
Mar. 19, 2021 11:30 AM ET Butterfly Network Inc - Class A (BFLY) By: Jerry Kronenberg, SA News Editor 1 Comment

Hedge fund Glenview Capital Management’s second SPAC inched up Friday on its first trading day since going public even as the firm’s first special purpose acquisition company continued to enjoy 80%+ gains.

Longview Acquisition Corp. II (LGV.U) rose 0.1% to close at $10.01 on the New York Stock Exchange after raising an upsized $600M through an initial public offering.

The IPO comes as Butterfly Network (NYSE: BFLY), a medical-imaging company that sister SPAC Longview Acquisition Corp. I bought in February, gained as much as 5.4% intraday before closing at $18.12, up 1.1% on the day.

BFLY, which took over Longview Acquisition Corp. I’s New York Stock Exchange listing when the deal closed, has risen more than 80% since the companies announced their merger in November.

Butterfly jumped 16.9% in a single session on Feb. 17 after Ark Investment Management's Cathie Wood said in an interview that she liked the stock.

As for Longview Acquisition Corp. II, the new SPAC sold investors 60M investment units at $10 apiece, each consisting of one Class A share and 0.2 warrants* entitling holders to a buy a second share in future at $11.50.

Glenview upsized the IPO from the 50M units that the SPAC originally planned to offer.

The SPAC wrote in an S-1 filing with the U.S. Securities and Exchange Commission that “while we may pursue an acquisition opportunity in any business … we intend to focus on the industries that align with the background of the sponsor, with a particular emphasis placed on the healthcare sector.”

Other possible target areas include industrials, consumer, media, technology and technology services, according to the S-1.

The new SPAC’s units are trading on the New York Stock Exchange under the symbol "LGV.U." Its shares and warrants will also eventually list separately as “LGV” and “LGV.WS,” respectively.

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From: Sun Tzu3/22/2021 7:45:22 PM
   of 7152
Does anyone here know if there are any public companies in the NFT space?

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To: Sun Tzu who wrote (6229)3/22/2021 10:31:01 PM
From: Sultan
   of 7152
I know of only one.. TKAT .. That too I am not 100% sure but look at the trading and draw your conclusion..

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