Dogecoin Futures Trading

And, GM’s China partnership shakeup.

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Today is Monday, April 1, 2024.

The Early Bird Index today is 73.90.

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Dogecoin Futures Trading

Amid a surge in interest for meme coins, the cryptocurrency Dogecoin jumped 10% on Sunday and is up 20% in the last week.

Background: Meme coins are up big in the last few weeks, and in some cases are overtaking more established cryptos such as Bitcoin. This includes the growing meme coin Dogwifhat, up nearly 500% in the last month.

Price: Dogecoin, the granddaddy of all meme coins, is already up 130% in 2024.

Recent Events: In March, the Commodities and Futures Trading Commission approved a Coinbase Derivatives Exchange’s application to list futures contracts tied to Dogecoin. That listing goes live today and users are ready to trade them.

Future Events: The growth in Dogecoin’s price comes weeks before the annual Doge Day on April 20. The date was chosen to coincide with…well…the unofficial marijuana holiday on the same day.

Final Thoughts: Despite the momentum surrounding Dogecoin, it’s still just a meme coin to some investors.

Invest before this company becomes a household name

What if you had the opportunity to invest in the biggest electronics products before they launched into big box retail, would you?

Ring changed doorbells and Nest changed thermostats. Early investors in these companies earned massive returns, but the opportunity to invest was limited to a select, wealthy few. Not anymore. RYSE has just launched in 100+ Best Buy stores, and you're in luck — you can still invest at only $1.50/share before their name becomes known nationwide.

They have patented the only mass market shade automation device, and their exclusive deal with Best Buy resembles that which led Ring and Nest to their billion-dollar buyouts.


Notable Earnings Today: PVH (NYSE: PVH), American Strategic Investment (NYSE: NYC), Canoo (Nasdaq: GOEV), DecisionPoint Systems (NYSE America: DPSI), Duos Technologies Group (Nasdaq: DUOT), Jaguar Health (Nasdaq: JAGX), LM Funding America (Nasdaq: LMFA), Mach Natural Resources (NYSE: MNR), Microvast Holdings (Nasdaq: MVST), Nano-X Imaging (Nasdaq: NNOX), Omeros (Nasdaq: OMER), Ondas Networks (Nasdaq: ONDS), Pioneer Power Solutions (Nasdaq: PPSI), Sigma Lithium (Nasdaq: SGML), Terran Orbital (NYSE: LLAP), Venus Concept (Nasdaq: VERO), Virtra (Nasdaq: VTSI), Zomedica (NYSE American: ZOM).

Notable IPOs Today: Zapata Computing Holdings Inc. Common Stock (Nasdaq: ZPTA).

Notable Equity Crowdfunding Campaigns Ending Today: Choose Your Horizon (StartEngine).

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

GM’s SAIC Motor Partnership Job Cuts

General Motors’ (NYSE: GM) and Volkswagen's (OTCMKTS: VWAGY) partnership with China’s SAIC Motor might be changing.

Details: Reuters reported on Sunday that SAIC Motor plans to cut thousands of jobs in 2024 in its joint ventures with General Motors, Volkswagen, and another electric car unit.

Background: Volkswagen’s business with the state-owned SAIC Motor began in 1984. GM’s relationship started in 1997. 

Stock Price: GM’s stock is up 25% in 2024. Volkwagen’s stock is up 17%.

Final Thoughts: This news reflects increased competition in China’s vehicle market, especially electric vehicles.

Kia’s Big SUV Recall

Keep an eye on the stock price of Kia (KRX: 000270) today. The company recently announced a recall of more than 427,000 of its Telluride SUVs due to a parking defect.

Stock Price: Kia’s stock is up 11% in 2024, but has dropped 13% in the last 30 days.

Final Thoughts: The stock dropped recently because of the recall news. The stock price could continue to fall.

Meme Stock Comeback: Market strategist explains the 3 hallmarks of meme stocks (Yahoo! Finance)

Big Influence: What are Bitcoin whales and how to spot them? (Cointelegraph)

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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.