Elon Musk Mixes Tesla and Dogecoin
"Tesla will make some merch..."
Today is Wednesday, December 15, 2021.
Elon Musk Mixes Tesla and Dogecoin in Tweet
The price of the cryptocurrency Dogecoin spiked over 30% at one point on Tuesday after a viral tweet from Tesla (Nasdaq: TSLA) CEO Elon Musk was posted.
Details: Early on Tuesday morning, Musk tweeted that “Tesla will make some merch buyable with Doge & see how it goes.”
Background: Musk is no stranger to Dogecoin. He’s been talking it up frequently over the past year. The digital currency, which began in 2013 as a joke, surged in 2021. In the past year, Dogecoin is up over 5,000%.
Caveat: Dogecoin is considered by some to be the ultimate meme coin, but it might be a victim of its own success. The Dogecoin craze has resulted in other meme coins jumping in price. The most notable example is Shiba Inu, which is up 57,000,000% this year.
Final Thoughts: Dogecoin is still a risky bet for some traders. Others, such as Musk, see the value in Dogecoin.
Notable Earnings Today: Lennar (LEN), Trip.com (Nasdaq: TCOM), ABM Industries (NYSE: ABM), Toro (NYSE: TTC), Nordson (Nasdaq: NDSN), REV Group (NYSE: REVG), Blue Bird (Nasdaq: BLBD), Heico (NYSE: HEI).
Notable IPOs Today: Samsara Inc. (NYSE: IOT), Valkyrie Balance Sheet Opportunities ETF (Nasdaq: VBB), Swiftmerge Acquisition Corp. Unit (Nasdaq: IVCPU), Genenta Science S.p.A. American Depositary Shares (Nasdaq: GNTA), Pearl Holdings Acquisition Corp Unit (Nasdaq: PRLHU), Ahren Acquisition Corp. Unit (Nasdaq: AHRNU)
Notable Equity Crowdfunding Campaigns Ending Today: Steel House Cycle (Honeycomb), Kickit (Wefunder).
Notable Economic Events Today: Retail Sales (8:30 a.m. ET), Export Price Index (8:30 a.m. ET), Import Price Index (8:30 a.m. ET), Empire State manufacturing index (8:30 a.m. ET), Business inventories (10:00 a.m. ET), Retail inventories (10:00 a.m. ET), Crude oil inventories (10:30 a.m. ET), Federal Reserve FOMC economic projections (2:00 p.m. ET).
Union Pacific: Buy or Not?
As we head into 2022, Union Pacific (NYSE: UNP) has come across as an attractive option for investors interested in the railroad sector.
Numbers: It’s been a good year for Union Pacific. Shares of the railroad company’s stock are up 22% in 2021.
The Good: Union Pacific has a solid balance sheet. The company is known for its strong dividend and buybacks.
The Bad: Union Pacific reduced its guidance for the full year on December 1 due to supply chain issues.
Final Thoughts: Last week, Union Pacific increased its quarterly dividend by 10%.
SeaChange Gets Bump Due to Merger Rumor
SeaChange (Nasdaq: SEAC) is up 119% in the past few days after Bloomberg reported that the video software microcap stock is in talks to merge with another company.
Details: Social video platform Triller (a competitor to TikTok), could potentially go public via a merger with SeaChange. The report says Triller could be valued at over $1 billion.
Earnings: Also on Tuesday, SeaChange reported its earnings. The company reported a net loss of 4 cents per share and 9% sequential revenue growth. The stock went up another 8.61% in after-hours trading.
Headwinds: While there seems to be a lot to like here, investors should tread lightly. SeaChange’s finances are not that good, including its cash burn rate.
Final Thoughts: Of course, if TikTok ever went public, there would be even more commotion.
Trends to Watch
Missed: China’s retail sales grow by 3.9% in November — slower than expected (CNBC)
Bad Day: Microsoft lost how much of its value on Tuesday? (Seeking Alpha)
Crypto Taxes: US Lawmakers Ask Janet Yellen to Define ‘Broker’ for Infrastructure Bill (CoinDesk)
Just Do It: Nike’s purchase of RTFKT hints at what its metaverse will look like (Quartz)
Work From Home: JPMorgan Tells Unvaccinated Workers To Stay Home (The Wall Street Journal)
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