Today is Tuesday, June 21, 2022.
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Investing in Tech Stocks Now
Investors interested in technology company stocks in 2022 should listen to Arvind Ven, CEO and Founder of Capital V Group, in a new episode of the Early Bird podcast.
Big Drop: Prices for tech stocks have been in decline this year due to issues with valuations and the U.S. Federal Reserve’s new monetary policies, Ven said.
Layoffs: While some tech companies are announcing layoffs and hiring freezes, Ven says that companies with good balance sheets should be fine.
Fintech: Ven said that the fintech sector shows a lot of promise, especially with certain companies.
Final Thoughts: How should average investors approach tech companies in the stock market for the rest of 2022? Find out what Ven has to say by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: Lennar (NYSE: LEN), La-Z-Boy (NYSE: LZB), Reservoir Media (Nasdaq: RSVR), Acasti Pharma (Nasdaq: ACST).
Notable IPOs Today: IperionX Limited American Depositary Share (Nasdaq: IPX).
Notable Equity Crowdfunding Campaigns Ending Today: Pacific Integrated Energy (StartEngine).
Notable Economic Events Today: Existing Home Sales (10:00 a.m. ET).
JetBlue Ups Offer to Buy Spirit Airlines
Photo by Lukas Souza / Unsplash
Details: The offer includes an increased price of $33.50 per Spirit share, up by $2 per share, a plus stronger divestiture commitment. Other items from the previous proposal, including an accelerated payment for Spirit shareholders, are still on the table.
Background: JetBlue has been trying to buy Spirit for months now. These acquisition talks began after Spirit previously agreed to merge with Frontier Airlines (NASDAQ: ULCC).
Recent Development: In an update last week, Spirit said that it is weighing both offers (from JetBlue and Frontier) and hopes to make a decision by June 30.
Numbers: Shares of JetBlue are down 41% this year. However, Spirit’s stock is only down about 5% in 2022.
Final Thoughts: It’s been a tough year for airline stocks. JetBlue is banking on this deal so that it can turn its business around.
Should You Short Sell Bitcoin?
Given the recent nosedive in the price of Bitcoin, some investors may be thinking about shorting, or betting against, Bitcoin.
Trend: A new exchange-traded fund (ETF) that bets against Bitcoin launches today.
Numbers: Cryptocurrency stock short-sellers are up about 126% this year, according to Reuters. Compare that to the declining price of Bitcoin.
Risks: Shorting can be incredibly risky, especially in cryptocurrency. There are forms of market manipulation, called bear traps, that may trick you into thinking that now’s a good time to short an investment.
Final Thoughts: While it is possible to make money by shorting Bitcoin, there are also plenty of risks. Consult a financial professional before shorting anything, especially Bitcoin.
Trends to Watch
Hang in There: Mondelez to buy energy bar maker Clif Bar for about $3 billion (Reuters)
Can’t Forget Macro: Solana, Ether Lead Gains in Relief Rally, but Traders Say Macroeconomic Concerns Remain (CoinDesk)
Hopefully, the Pain is Over: Bitcoin Investors Lose Record $7.3 Billion in Three Days (Decrypt)
Still Risky: China’s Long-Suffering Property Stocks Aren’t Yet a Buy (The Wall Street Journal)
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