Manchester United Buyout Soon?

August 23, 2023

Today is Wednesday, August 23, 2023.

The Early Bird Index today is 54.77.

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Manchester United Buyout Soon?

Manchester United (NYSE: MANU) jumped 10.09% in after-hours trading on Tuesday after a report suggested a potential sale of the sports organization soon.

Details: The Sun on Tuesday reported that Qatar’s Sheikh Jassim is set to buy Manchester United for $6 billion in October, with an announcement coming as early as September. Manchester United did not comment on the report.

Final Thoughts: Manchester United is down 4% in 2023. The $6 billion rumored price tag is nearly double the current market capitalization of the company.

Notables

Notable Earnings Today: Nvidia (Nasdaq: NVDA), Peloton (Nasdaq: PTON), Advance Auto Parts (NYSE: AAP), Snowflake (NYSE: SNOW), Kohl's (NYSE: KSS), Splunk (Nasdaq: SPLK), Analog Devices (Nasdaq: ADI), Autodesk (Nasdaq: ADSK), Foot Locker (NYSE: FL), NetApp (Nasdaq: NTAP), Williams-Sonoma (NYSE: WSM), Unifi (NYSE: UFI), Dycom (NYSE: DY), Guess? (NYSE: GES), Bath & Body Works (NYS: BBWI), Ooma (NYSE: OOMA), Grab Holdings (Nasdaq: GRAB), VNET Group (Nasdaq: VNET), Abercrombie & Fitch (NYSE: ANF), Tuya (NYSE: TUYA).

Notable IPOs Today: Level Four Large Cap Growth Active ETF (Nasdaq: LGRO), Listed Funds Trust (NYSE Arca: LUXX).

Notable Equity Crowdfunding Campaigns Ending Today: N/A.

Notable Economic Events Today: Building Permits (8:00 a.m. ET), S&P Global US Services PMI (9:45 a.m. ET), S&P Global US Manufacturing PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), New Home Sales (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

Bitcoin’s $30,000 Price Level, Explained

Photo by Kanchanara / Unsplash

For all of the gains in 2023 for Bitcoin, the top cryptocurrency can’t seem to get past the $30,000 level this year.

Definition: A resistance level refers to a price that an asset can’t jump above due to various circumstances.

Price: Bitcoin is having a rebound year. It is up over 60% in 2023. Bitcoin has twice tried to move up beyond $30,000 in 2023 - once in April and another time in July - but then the price fell back down.

Optimism: Despite these problems, some analysts have speculated that $30,000 won’t be a resistance level for long.

Final Thoughts: Even if Bitcoin breaks past $30,000 this year, it will eventually face another level of resistance in the future.

Giving Dividend Stocks a Second Look

Believe it or not, 2023 might be a good time for some investors to reconsider dividend stocks.

Definition: A dividend stock pays a portion of earnings to investors.

Why Now: While not as flashy as growth stocks, dividend stocks are a great way to balance a portfolio. Many dividend-paying companies have lower price-to-earning ratios than growth stocks, which means they offer a better value. Over time, some of these companies consistently increase dividend payments.

Also: One analyst recently told CNBC that dividend stocks are currently the cheapest they’ve been since the 1990s.

But: Bond rates are higher, which is bad for all stocks - including dividend stocks.

Final Thoughts: Dividend stocks are not perfect, but in the long run, they produce a lot of income for investors.

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Trends to Watch

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