Malls Are Not Dead
Photo by Heidi Fin / Unsplash

Malls Are Not Dead

And, "Squid Game" cryptocurrency.

Steven Lerner
Steven Lerner

Today is Tuesday, November 2, 2021.

Malls Are Not Dead, Based on Simon Property's Earnings

Shares of real estate investment trust Simon Property Group (NYSE: SPG), which focuses on shopping malls and outlets, jumped 4.21% in after-hours trading on Monday after posting good third-quarter results.

Numbers: Simon Property achieved a $2.07 earnings per share, which was nearly double the estimate from analysts. Revenue reached $1.29 billion, which was also better than expected.

Aiming Higher: On top of the impressive earnings, Simon Property announced Monday that it is increasing its full-year 2021 guidance and raising its quarterly dividend by 15% year-over-year.

Quote: “Demand for our space from a broad spectrum of tenants is growing. Occupancy gains continued, retailer sales accelerated, including our owned brands, and cash flow increased.” - CEO and Chairman David Simon.

Deeper Dive: While an occupancy rate of 90% is good for Simon Property, there are still some challenges, including higher expenses.

Final Thoughts: The results suggest that the mall industry has survived the worst of the pandemic. We’ll see how the mall industry performs in the upcoming holiday season.


Notable Earnings Today: Pfizer (NYSE: PFE), BP (NYSE: BP), ConocoPhillips (NYSE: COP), Under Armour (NYSE: UAA), T-Mobile US (Nasdaq: TMUS), Amgen (Nasdaq: AMGN), Activision Blizzard (Nasdaq: ATVI), Lyft (Nasdaq: LYFT), XPO Logistics (NYSE: XPO), Zillow (Nasdaq: Z), Ralph Lauren (NYSE: RL), Mondelez International (Nasdaq: MDLZ), Estee Lauder (NYSE: EL).

Notable IPOs Today: SurgePays, Inc. Common Stock (Nasdaq: SURG), Fortune Rise Acquisition Corporation Units (Nasdaq: FRLAU), Compass Therapeutics, Inc. Common Stock (Nasdaq: CMPX).

Notable Equity Crowdfunding Campaigns Ending Today: TomBot (StartEngine), BeerMKR (StartEngine).

Notable Economic Events Today: N/A

The Incredible Rise and Fall of the “Squid Game” Cryptocurrency

A cryptocurrency that was inspired by the hit Netflix (Nasdaq: NFLX) show “Squid Game” skyrocketed by more than 2,000% in a few days. On Monday, the coin's price plummeted with its creators closing the project and making off with $2.1 million from investors.

History: The “Squid Game” coin, which was not affiliated with the show, launched on October 26.

Red Flags: Despite the hype, there were plenty of red flags that pointed to the coin being a scam. This includes a website filled with spelling and grammatical errors, social media pages that prohibited responses, and an inability for traders to sell the coins, according to Gizmodo.

Collapse: After shooting up to a price of $2,800 in the early morning hours on Monday, the price quickly fell to less than 1 cent in a matter of minutes. This type of market manipulation is referred to as a “rug pull” in cryptocurrency.

Aftermath: The creators of the coin have since left and all social media accounts appear to be disconnected.

Final Thoughts: Hopefully, this serves as a lesson on why you should research before jumping on the next big meme coin.

Legacy Healthcare Companies Exploring Telehealth

Want to get exposure to the telehealth industry in a safe way? Consider investing in a legacy healthcare company that is also dipping its toes into telehealth.

Humana: Since the start of the pandemic, health insurance company Humana (NYSE: HUM) has been pushing its telehealth services for patients. The stock is up 12% this year.

Anthem: Another insurance company that has also invested in its telehealth services is Anthem (NYSE: ANTM). The stock is up 36% this year.

Big Picture: Many healthcare companies are investing in telehealth, which makes them a safer bet for investors given their long track record.

Final Thoughts: The stock prices for legacy companies in healthcare are usually higher than many young companies.

Start Your Engines: Amazon-backed EV start-up Rivian plans to price shares up to $62, putting valuation near $55 billion (CNBC)

Meme World: Welcome to the Stonk Market (The Verge)

Growth: Obscure altcoin mana spikes 400% as Facebook's metaverse pivot spurs bet on virtual property token (Insider)

October Surprise: 5 Technology ETFs At the Forefront of October's Market Rally (Nasdaq)

Falling Down: Chegg stock plummets as CEO says ‘the education industry is experiencing a slowdown’ (MarketWatch)

Thank you for reading! Please email any feedback to