Stock Success Amid Inflation
And, Chainlink surges before launch.
Today is Monday, November 20, 2023.
The Early Bird Index today is 59.51.
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Stock Success Amid Inflation
There are ways that investors can get rich from the stock market during a recession or high inflation, said Jason Brown, host of the Brown Report, in a new episode of the Early Bird podcast.
Background: While we are not in a recession (yet), inflation is still somewhat high. Brown said that investors need to adjust their strategies to thrive in these types of markets.
Advice: Brown suggests that investors learn how options trading works, specifically put options, which allows the owner of equity to sell some of the security at a certain price. Brown claims that put options can protect a stock portfolio during a market downturn.
Sectors: During a recession, stocks in the consumer staples sector are seen as safer. But Brown said that investors should also look at technology companies because tech is often the first sector to rebound after a downturn.
Avoid: While dividend stocks are great for income, Brown warns that dividend stocks only work when an investor has a lot of money.
Final Thoughts: Are we approaching a market downturn soon, and how will stocks respond? Listen to Brown’s answer in a new episode of the Early Bird podcast.
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Notable Earnings Today: Zoom Video Communications (Nasdaq: ZM), Agilent (NYSE: A), Keysight Technologies (NYSE: KEYS), BellRing Brands (NYSE: BRBR), Niu Technologies (Nasdaq: NIU), Trip.com (Nasdaq: TCOM), Enanta Pharmaceuticals (Nasdaq: ENTA), Legend Biotech (Nasdaq: LEGN), BioLine RX (Nasdaq: BLRX), Renew Energ Global (Nasaq: RNW), Central Garden & Pet (Nasdaq: CENT), XCel Brands (Nasdaq: XELB), Symbotic (Nasdaq: SYM), Full Truck Alliance (NYSE: YMM), Enlight Renewable Energy (TLV: ENLT).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: N/A.
Notable Economic Events Today: N/A.
Chainlink Surges Before Launch
Chainlink jumped 7% on Sunday, beating the rest of the cryptocurrency market before a big launch next week.
Details: Anticipation is building for Chainlink Staking V0.2, which is set to launch priority migration next week on November 28th. (A post-Thanksgiving launch!)
Definition: Huh? What exactly is Staking V0.2? It is an upgrade that reportedly includes benefits for the Chainlink blockchain, including increased “cryptoeconomic security.”
Price: Chainlink’s price has doubled in the last 30 days. In fact, Chainlink is currently up 140% this year.
Final Thoughts: The Staking V0.2 upgrade is slated to last until general access opens on December 11. For crypto investors, Chainlink is down about 2% overall in the last week, showing that it can be a volatile asset.
Goldman Sachs to Get New Leadership in Japan
Happy retirement! The longtime president of Goldman Sachs (NYSE: GS) in Japan, Masanori Mochida, will retire at the end of this year, according to a report from Reuters on Sunday, which cited an internal company memo.
Final Thoughts: Goldman Sachs may want to find new leaders in Japan soon. The stock is down 2% this year, so any ounce of leadership instability on the international level can be rough.
Trends to Watch
You Cruise, You Lose: Cruise CEO Kyle Vogt resigns from GM-owned robotaxi unit (CNBC)
Bitcoin Bounce: Javier Milei Wins Argentine Presidency; Bitcoin Gains Nearly 3% (CoinDesk)
Price Cut: Signature Bank’s Apartment Loans Selling at a Steep Discount (Wall Street Journal)
Dropping: Short Seller Target Ebix Sinks Deeper With Loan Payment Delays (Bloomberg)
Fed Up: Some experts balk at talk that Fed must cut rates soon if inflation keeps coming down (MarketWatch)
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