Bitcoin's New Investing Chapter

Plus, Qualcomm's sales projections.

November 20, 2024

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Today is Wednesday, November 20, 2024.

The Early Bird Index today is 80.23.

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Bitcoin's New Investing Chapter

The price of Bitcoin reached an all-time high Tuesday after investors gained access to a new way to trade the popular cryptocurrency.

Details: Options trading on Blackrock's iShares Bitcoin Trust began Tuesday. Other Bitcoin ETFs (exchange-traded funds) will introduce options trading in the coming days.

Definition: Similar to stocks, this offering allows investors to buy options contracts for ETFs.

Early Bird’s Nest Egg Gains: Options trading on Bitcoin ETFs can be both rewarding and risky.

  • The positives include enhanced trading flexibility, leveraged returns, and protection against some price movements.

  • The negatives include higher volatility, increased premiums, and potential losses.

Final Thoughts: It’s only a matter of time before investors can access ETF options trading for other cryptos.

AI's NEXT Magnificent Seven

The Original Magnificent Seven Produced 16,894% Average Returns Over 20 Years. $1,000 in each turned into $1.18 million! But the Man Who Called Nvidia at $1.10 Says "AI's Next Magnificent Seven Could Do It Even Faster." He says $1,000 in these seven stocks could turn into $1 million+ in less than six years. The first company on his list just signed a MAJOR deal with Apple, and its tech is going to be included in the iPhone and iMac until 2040! See his breakdown of the seven stocks you should own.

Notables

Notable Earnings Today: Nvidia (Nasdaq: NVDA), Nio (NYSE: NIO), Target (NYSE: TGT), Snowflake (NYSE: SNOW), Palo Alto Networks (Nasdaq: PANW), TJX Companies (NYSE: TJX), Jack In The Box (Nasdaq: JACK), Wix.com (Nasdaq: WIX), Copa Holdings (NYSE: CPA), Dycom (NYSE: DY), Sociedad Quimica y Minera (NYSE: SQM), Berry Global (NYSE: BERY), Global-E Online (Nasdaw: GLBE), ATRene (NYSE: RERE), Euroseas (Nasdaq: ESEA), Maximus (NYSE: MMS), ZIM Integrated Shipping Services (NYSE: ZIM).

Notable IPOs Today: Creative Global Technology Holdings Limited Ordinary Shares (Nasdaq: CGTL), BrilliA Inc (NYSE American: BRIA).

Notable Equity Crowdfunding Campaigns Ending Today: Xense (StartEngine), Heartstone Farm (StartEngine).

Notable Economic Events Today: Crude Oil Inventories (10:30 a.m. ET).

Qualcomm's Sales Projections

The CEO of Qualcomm (Nasdaq: QCOM) discussed the future outlook for sales on Tuesday at the company’s investors day.

Details: Qualcomm now forecasts an additional $22 billion in sales by 2029. This includes as much as $8 billion in revenue for PC chips.

Yes, But: Investors are equally concerned that Qualcomm will lose some revenue if Apple (Nasdaq: AAPL) decides to stop buying from Qualcomm when the current contract expires in 2027. This could absolutely happen.

Final Thoughts: Qualcomm is up 17.46% this year.

La-Z-Boy Raises Dividend

La-Z-Boy (NYSE: LZB) jumped 6.36% in after-hours trading on Tuesday after reporting better-than-expected financial earnings results.

Financials: La-Z-Boy reported earnings of 71 cents per share in the past quarter and revenue of $521 million; both were better than expected.

Powering the Story: The sales were so good that the company raised its dividend by 10%.

Final Thoughts: La-Z-Boy is up 15% this year, including a 6% gain in the last 30 days.

Changing Media Landscape: Comcast Greenlights $7 Billion Spinoff of NBCUniversal Cable Channels (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.