Nike Grows, Except In China

Plus, Spot Bitcoin ETF Delays.

Steven Lerner
Steven Lerner

Today is Tuesday, March 22, 2022.

New to this newsletter? Sign up here.

Nike Grows, Except In China

Shares of Nike (NYSE: NKE) jumped 5.31% in after-hours trading on Monday after the footwear and apparel giant posted positive financial earnings.

Finances: Nike reported earnings of 87 cents per share and revenue of $10.09 billion; both were better than expected.

Digital Success: The company’s digital business soared in the quarter, with digital sales increasing 19% overall. This included a 33% increase in North America.

Be Direct: Direct-to-consumer was another bright spot for Nike. Direct sales went up 15% on a reported basis and 17% on a currency-neutral basis.

The Bad: Despite the global success, revenue in China dropped about 11% in the quarter. Nike also had ongoing supply chain disruptions.

Numbers: In the past six months, shares of Nike dropped 17%.

Final Thoughts: Nike’s business is overall solid, but is this still is a good value stock pick?


Notable Earnings Today: Carnival (NYSE: CCL), Adobe (Nasdaq: ADBE), HUYA (NYSE: HUYA), HealthEquity (Nasdaq: HQY), GDS Holdings (Nasdaq: GDS), Poshmark (Nasdaq: POSH), BuzzFeed (Nasdaq: BZFD), Paysign (Nasdaq: PAYS), iMedia Brands (Nasdaq: IMBI), GAN (Nasdaq: GAN), FreightCar America (Nasdaq: RAIL), AAR (NYSE: AIR), J.Jill (NYSE: JILL), Worthington Industries (NYSE: WOR), Star Equity Holdings (Nasdaq: STRR), Aptose Biosciences (Nasdaq: APTO), Science 37 Holdings (Nasdaq: SNCE), Snap One Holdings (Nasdaq: SNPO), Cyxtera Technologies (Nasdaq: CYXT), Zymergen (Nasdaq: ZY), Aluminum Corp. of China (NYSE: ACH), Cathay Financial Holding (OTCMKTS: CHYFF), Sunlight Financial Holdings (NYSE: SUNL).

Notable IPOs Today: Zentek Ltd. Common Stock (Nasdaq: ZTEK).

Notable Equity Crowdfunding Campaigns Ending Today: Chow420 (StartEngine), CAMDOG (Wefunder), Hercules Mulligan (StartEngine), Africa Eats (Wefunder), Peer Support Solutions (StartEngine).

Notable Economic Events Today: API Weekly Crude Oil Stock (4:30 p.m. ET).

Two More Spot Bitcoin ETF Decisions Delayed

Bitcoins fitted into round plastic covering.
Photo by Kanchanara / Unsplash

Decisions regarding the approval of two more spot bitcoin exchange-traded funds (ETFs) have been delayed until the spring, the U.S. Securities and Exchange Commission (SEC) announced Monday.

Details: A decision regarding the WisdomTree Bitcoin Trust has been delayed to May 15 and a decision for the One River Carbon Neutral Bitcoin Trust has been delayed to June 2. The SEC requested that they “designate a longer period” to review both ETFs.

Background: The SEC has either delayed or struck down applications for spot Bitcoin ETFs, which track the price of Bitcoin. However, last year the SEC approved a few Bitcoin futures ETFs, which are derivatives based on futures contracts.

Final Thoughts: Most investors prefer to own the actual cryptocurrency or would prefer a spot Bitcoin ETF. The Bitcoin futures ETFs are not that popular with the crypto crowd.

Plant-Based Meat Startups Try Equity Crowdfunding

Want to invest in the next great plant-based meat company? Check out equity crowdfunding platforms that feature investments in these types of companies.

History: There have been several plant-based meat companies that raised money on equity crowdfunding platforms in recent years, according to KingsCrowd. The list includes Akua, Lil Bucks, Billion Vegans, and Vegan Fine Foods.

Niche: There’s even an entire equity crowdfunding platform dedicated to just vegan companies called Vegan Launch. The platform officially started last year.

Final Thoughts: As with any startup, there is always the risk of an investor losing all of their money. That’s because most startups fail, but of course, there are good ones that produce really nice returns.

Choices: Rivian stock is trading at an all-time low. Should you buy the dip? (Seeking Alpha)

Environmentally-Friendly: U.S. SEC proposes companies disclose range of climate risks, emissions data (Reuters)

Many Bids: Kohl’s confirms it has received multiple preliminary buyout offers (CNBC)

Surcharge: New fees for crypto transactions on PayPal, Venmo go into effect (The Hill)

Comeback: Why Is BlackBerry Attracting High Interest From Retail Investors Today? (Benzinga)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Questions or comments? Hit reply to reach out.