Toncoin Reaches All-Time High

And, Vail's “unfavorable conditions.” 

Source: The TON Blockchain

Today is Friday, June 7, 2024.

The Early Bird Index today is 73.13.

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Toncoin Reaches All-Time High

Toncoin, the cryptocurrency that runs on the TON Blockchain, reached an all-time high on Thursday as new related features were introduced.

Price: Toncoin’s price hit $7.50 on Thursday. It is up 29% in the last 30 days. The price has tripled since the start of the new year.

Powering the Story: To coincide with the milestone, Telegram announced a new in-app currency on Thursday to enable payments for digital goods and services called Telegram Stars. Developers can withdraw Telegram Stars earned by their bots in Toncoins.

Also: The TON Blockchain introduced a new utility token tied to its feature-rich wallet called MyTonWallet.

Background: Toncoin has experienced an incredible rise to become a major altcoin in 2024. It benefited from the release of a Telegram social click game in May and higher trading volumes in June.

Final Thoughts: Toncoin is far from a safe investment, but it is impressive how Toncoin has emerged as a big deal in crypto this year.

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Notable Earnings Today: Graham (NYSE: GHM), J.Jill (NYSE: JILL).

Notable IPOs Today: Rapport Therapeutics, Inc. Common Stock (Nasdaq: RAPP), Big Tree Cloud Holdings Limited Ordinary Shares (Nasdaq: DSY).

Notable Equity Crowdfunding Campaigns Ending Today: Renoun Skis (Netcapital), beehiiv (Wefunder).

Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Labor Force Participation Rate (8:30 a.m. ET), Private Nonfarm Payrolls (8:30 a.m. ET), Consumer Credit (3:00 p.m. ET).

Vail's “Unfavorable Conditions” 

Vail Resorts (NYSE: MTN) fell 6.16% in after-hours trading on Thursday after the mountain resort company posted disappointing financial results.

Financials: Vail Resorts reported earnings of $9.54 per share in the past quarter and revenue of $1.28 billion; both were worse than expected.

Details: Pass product sales decreased 5% in the quarter. The company said that lift ticket visitation lagged.

Powering the Story: CEO Kirsten Lynch blamed “the unfavorable conditions” in North American resorts, which means there was weak snowfall during the winter season.

Yes, But: Resort net revenue grew 3.6% in the past quarter.

Stock Price: Vail Resorts was down 8% this year before these results.

Final Thoughts: Poor skiing conditions hammered the stock. It’s been a bad year for the company, although it did increase its dividend in March.

Samsara’s Results Couldn’t Impress Investors

Despite posting good financial results on Thursday, shares of the Internet of Things company Samsara (NYSE: IOT) dropped 6.71% in after-hours trading.

Financials: Samsara reported earnings of three cents per share in the past quarter and revenue of $280.7 million; both were better than expected.

Final Thoughts: Samsara’s guidance was also mostly better than expected. The stock was up 11% this year before the results.

Investigation: FTC Opens Antitrust Probe of Microsoft AI Deal (Wall Street Journal)

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