Bitcoin's Market Crash 😱

And, Eggo's parent might get acquired.

August 05, 2024

Together With

Today is Monday, August 5, 2024.

The Early Bird Index today is 66.17.

New to this newsletter? Sign up here

PRESENTED BY CLICKPROFIT

How to Own a Slice of The Fastest Growing Industry… E-commerce

“It doesn't matter how hard you row, it matters which boat you get in.” - Warren Buffet

Warren Buffet understands that choosing a market is the most important decision when picking an investment vehicle. The bigger the boat (aka the market), the easier it will be to grow your business.

Details: The e-commerce industry will produce $1.2 trillion in 2024 alone, according to Statista. Five years from now, the annual e-commerce market is expected to grow from $1.2 trillion to $1.88 trillion. 

Bigger Picture: The market is growing faster than ever because big companies such as Amazon and Walmart make it easier to purchase products. Due to these marketplaces wanting as many sellers as possible, the barrier of entry to join the e-commerce space is very low, resulting in intense competition. 

Yes, But: if you don’t have the proper strategy, you will get burned by wholesalers, manufacturers, and warehouses.

Solution: Partner with ClickProfit.io, the leading e-commerce done-for-you agency to build, manage and scale your very own e-commerce portfolio.

Bitcoin's Market Crash 😱

It’s the worst week of the year for Bitcoin and cryptocurrency. The price of Bitcoin plunged 11% on Sunday and is down 21% in the last 7 days. 

Bigger Picture: Ethereum, down 14% on Sunday, is now negative for the year. Avalanche fell 17% on Sunday while Cardano dropped 15%.

Developing Details: The broader stock market selloff during the last few days has engulfed crypto. Investors are worried about a potential recession. Making matters worse was that Japan’s Nikkei index fell 7% today.

Early Bird’s Nest Egg Gains: Bitcoin is a risky investment during a recession due to its high volatility and speculative nature. During the market crash in March 2020, Bitcoin's price plummeted. Investors tend to avoid risky assets during a recession.

Final Thoughts: Bitcoin is still up 20% in 2024 despite the recent selloff. 

Notables

Notable Earnings Today: Palantir Technologies (NYSE: PLTR), Hims & Hers Health (NYSE: HIMS), Realty Income (NYSE: O), Tyson Foods (NYSE: TSN), Avis Budget (Nasdaq: CAR), Chegg (NYSE: CHGG), CSX (Nasdaq: CSX), Lucid Group (Nasdaq: LCID), Simon Properties (NYSE: SPG), Yum China (NYSE: YUMC), Krystal Biotech (Nasdaq: KRYS), Freshpet (Nasdaq: FRPT), Carlyle Group (Nasdaq: CG), Spirit Aerosystems (NYSE: SPR), Vimeo (Nasdaq: VMEO), Alpha Metallurgical Resources (NYSE: AMR), Teradata (NYSE: TDC). BioCryst Pharmaceuticals (Nasdaq: BCRX), BioNTech (Nasdaq: BNTX), ZoomInfo Technologies (Nasdaq: ZI), Ameresco (NYSE: AMRC), Axsome Therapeutics (Nasdaq: AXSM), BioMarin Pharmaceutical (Nasdaq: BMRN), BWX Technologies (NYSE: BWXT), Clover Health Investments (Nasdaq: CLOV), Diamondback Energy (Nasdaq: FANG), EverQuote (Nasdaq: EVER), Global Ship Lease (NYSE: GSL), Kemper (NYSE: KMPR), Navitas Semiconductor (Nasdaq: NVTS), Sonic Automotive (NYSE: SAH), Sotera Health (Nasdaq: SHC), TreeHouse Foods (NYSE: THS), TrueBlue (NYSE: TBI), Vornado Realty Trust (NYSE: VNO).

Notable IPOs Today: Helport AI Limited Ordinary Shares (Nasdaq: HPAI).

Notable Equity Crowdfunding Campaigns Ending Today: d’griot (Honeycomb), InSpira Performing Arts (Honeycomb), Universal Transit (Republic).

Notable Economic Events Today: S&P Global Services PMI (9:45 a.m. ET), ISM Non-Manufacturing Prices / PMI / Employment (10:00 a.m. ET).

Eggo Maker Might Get Acquired

Kellanova (NYSE: K), the parent company of products such as Eggo and Cheez-It, is reportedly being targeted for acquisition.

Details: Reuters reported Sunday that candy giant Mars, which owns M&M's and Snickers, is exploring a potential acquisition of Kellanova. The Wall Street Journal reported that the deal could come together imminently.

Background: Kellanova, which split off from WK Kellogg (NYSE: KLG) last October, is up 9.04% this year.

Final Thoughts: Kellanova’s market cap exceeds $20 billion. This could be one of the largest acquisitions in the packaged food sector.

‘Deadpool & Wolverine’ Tops Box Office Again

For the second weekend in a row, the film ‘Deadpool & Wolverine’ was the top box office picture. It took in $97 million this past weekend.

Final Thoughts: The film’s parent Walt Disney (NYSE: DIS) reports earnings on Tuesday.

Not Our Fault: CrowdStrike to Delta: Stop Pointing the Finger at Us (Wall Street Journal)

Thank you for reading!

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

Pick winning stocks: Upgrade to Early Bird Prime

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.

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.