Today is Thursday, September 23, 2021.
Facebook Blames Apple for Ad Woes
Shares of Facebook (Nasdaq: FB) fell 3.99% Wednesday after the social media giant warned about an advertising performance glitch.
What Happened: The company has been underreporting web conversions for Facebook advertising campaigns on Apple (Nasdaq: AAPL) devices by 15%. This was due to the recent iOS privacy changes, Facebook’s vice president of product marketing wrote in a blog on Wednesday, and said the change will have a greater impact in the current quarter.
Data: As Facebook’s stock dropped Wednesday, shares of Twitter (NYSE: TWTR) grew 2.34% and shares of Snapchat (NYSE: SNAP) increased by 3.30%.
Bigger Picture: Facebook’s stock is up 27% for the year. The advertising glitch may actually prove to be advantageous because now Facebook might be able to charge more for certain promotions.
Additionally: Facebook’s chief technology officer announced his departure from the role on Wednesday.
Final Thoughts: In recent weeks, Facebook has faced a ton of problems and controversies, yet the business is still running strong.
Notable Earnings Today: Nike (NYSE: NKE), Accenture (NYSE: ACN), Darden Restaurants (NYSE: DRI), Rite Aid (NYSE: RAD), Trip.com (Nasdaq: TCOM), Costco Wholesale (Nasdaq: COST), Progress Software (Nasdaq: PRGS), Vail Resorts (NYSE: MTN).
Notable IPOs Today: EngageSmart (NYSE: ESMT), Remitly Global. (Nasdaq: RELY), Argo Blockchain (Nasdaq: ABRK), Sovos Brands (Nasdaq: SOVO), Thorne Healthtech (Nasdaq: THRN), Brilliant Earth Group (Nasdaq: BRLT).
Notable Equity Crowdfunding Campaigns Ending Today: Blue Pizza (MainVest).
Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Manufacturing PMI (9:45 a.m. ET), Markit Composite PMI (9:45 a.m. ET).
Robinhood Finally Caves in With Crypto Wallet Addition
After months of complaints from the cryptocurrency community, trading app Robinhood (Nasdaq: Hood) announced Wednesday that crypto wallets are finally arriving on the platform in a beta test.
History: While users have been able to buy or sell certain cryptocurrencies on Robinhood, the platform lacked a wallet feature found on other platforms.
Driving the Change: Crypto traders, especially those who traded Dogecoin, reportedly have spent months on social media complaining that they wanted to own the actual coins instead of just getting price exposure. A crypto wallet allows traders to use the actual coins to make purchases.
Features: Robinhood said that its wallet will allow users to buy and sell crypto with just a few taps. There are also security features such as identity verification and multi-factor authentication.
Final Thoughts: Prices for many cryptocurrencies increased Wednesday, and shares of Robinhood increased 10.85%.
Real Estate as an Inflation Hedge
Real estate is a favorite alternative investment, especially when the prices of goods and services increase during inflation.
The Real Thing: Buying actual physical real estate is one way to invest in it. Against inflation, property values tend to rise, which means landlords can charge more for rent.
Challenges: Buying physical real estate has its complications. The cost to buy is typically too high for the average investor and the investments can’t be sold quickly like stocks.
Going to REITs: Real Estate Investment Trusts (REITs) are stocks that own real estate. REITs are often seen as a low-cost way to get real estate exposure. That means investors get the benefits of real estate during a period of inflation. While they have their own challenges, REITs are very popular.
Segments: Affordable housing is an example of a segment of real estate that typically holds up during inflation. Commercial property, such as office space, is not the best segment to own during inflation, especially now that people are still working remotely.
Final Thoughts: In addition to REITs on the stock exchange, investors have access to private market REITs through crowdfunding platforms.
Trends We Are Chirping About
3 Future Astronauts: Toast’s three co-founders are all billionaires after company’s IPO (CNBC)
The People Have Spoken: Dogecoin fans storm AMC CEO's Twitter poll asking if the theater chain should accept the joke cryptocurrency (Insider)
Another Meme Stock Victory: BlackBerry Reported Earnings. Here’s What To Know. (Barron’s)
Upstairs: Real Estate Investment Marketplace GROUNDFLOOR Announces New “Stairs App,” Aims to Generate 4-6% Consistent Returns (Crowdfund Insider)
Trouble: The European Energy Crisis Is About To Go Global (OilPrice.com)
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