Today is Wednesday, April 13, 2022.
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Equity Crowdfunding Top Sector: Health
Startups in the health space have been among the most successful to complete equity crowdfunding campaigns so far in 2022.
Detection: Koning, a tool that can be used for breast imaging and detecting cancer, raised $2.1 million on Republic in a campaign that closed in January.
Metabolic: Levels, a company that produces biowearables for metabolic health, raised $4.9 million in a campaign on Wefunder that closed in February.
Reverse: Revero, a startup that claims to reverse autoimmune and other chronic diseases, sold out its shares recently on Republic and raised $3 million.
Final Thoughts: Will health startups continue to have successful equity crowdfunding campaigns in 2022?
Notable Earnings Today: JPMorgan Chase (NYSE: JPM), Delta Air Lines (NYSE: DAL), Rent the Runway (Nasdaq: RENT), BlackRock (NYSE: BLK), Bed Bath & Beyond (Nasdaq: BBBY), Fastenal (Nasdaq: FAST), Infosys (NYSE: INFY), First Republic Bank (NYSE: FRC), Theratechnologies (Nasdaq: THTX), Shaw Communications (NYSE: SJR), Super Group (NYSE: SGHC).
Notable IPOs Today: Excelerate Energy, Inc. (NYSE: EE), Aura FAT Projects Acquisition Corp Unit (Nasdaq: AFARU), Embrace Change Acquisition Corp Unit (Nasdaq: EMCGU), Applied Blockchain, Inc. Common Stock (Nasdaq: APLD), Global X Green Building ETF (Nasdaq: GRNR).
Notable Equity Crowdfunding Campaigns Ending Today: Farm Fresh (InfraShares), OSM Shield (StartEngine), Stars on Board (StartEngine), Safe Zone Technologies (StartEngine).
Notable Economic Events Today: Producer Price Index (8:30 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).
PayPal’s CFO Leaves to Join Walmart
Shares of PayPal (Nasdaq: PYPL) dropped 1.52% in after-hours trading on Tuesday after the e-commerce giant announced that Chief Financial Officer John Rainey will leave the company to become the CFO for Walmart (NYSE: WMT).
Details: Rainey will remain at PayPal until late May and will officially become Walmart’s CFO on June 6. Brett Biggs, Walmart’s current CFO who announced his departure months ago, will remain in that role until June 6 and then become an advisor.
Next Steps: PayPal, which has had Rainey in the CFO role for nearly 7 years, has launched a formal search for a replacement. Gabrielle Rabinovitch, senior vice president, will become interim CFO when Rainey leaves.
Big Picture: It’s been a rough few months for PayPal as the e-commerce and payments industry has slowed down. Paypal’s stock dropped 24% in one day in February, the company’s worst trading day.
Final Thoughts: Walmart recently increased its truck driver pay to combat the truck driver shortage.
AMC Acquires 7 New Movie Locations
Shares of AMC Entertainment (NYSE: AMC) jumped 0.52% in after-hours trading on Tuesday after the movie theater chain expanded its presence in the Northeast with an acquisition.
Details: AMC will buy seven locations from Bow Tie Cinemas in Connecticut, upstate New York, and Annapolis, Maryland. The company will operate each location and retain all associates there.
Future: The company also said that it is in active discussions with other property owners regarding additional locations. There could be further acquisitions after all.
Numbers: Shares of AMC are down 54% in the last 6 months, but are up 28% in the last 30 days.
Final Thoughts: AMC has made some questionable investments as of late, such as its backing of an actual goldmine. But, new summer movies could boost ticket sales, which is good for AMC.
Trends to Watch
Be Positive: Crypto regulation is a ‘net positive’ for the industry (Yahoo! Finance)
Good News: The Safe Investment That Will Soon Yield Almost 10% (The Wall Street Journal)
Sky-High Prices: Airfare surged 20% over pre-pandemic levels in March as inflation hit vacations (CNBC)
Big Data: Tim Cook delivers speech railing against “data industrial complex,” sideloading (Ars Technica)
Crypto Traits: Bitcoin fans are psychopaths who don’t care about anyone, study shows (New York Post)
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