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Trump's New Memecoin Boom 🕵️‍♂️

Plus, TSMC evacuates some factories.

January 21, 2025

Today is Tuesday, January 21, 2025.

The Early Bird Index today is 81.01.

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Trump's New Memecoin Boom 🕵️‍♂️

The new meme cryptocurrency linked to Donald Trump surged as the 47th U.S. president entered his first day in office on Monday.

Details: Trump launched his new memecoin, $TRUMP, on Friday. Since then, the price surged over 400%.

  • World Liberty Financial, the crypto project linked to Trump, also announced it raised money through token sales this weekend.

Zooming Out: Solana, the blockchain on which Trump’s cryptocurrency was created, reached an all-time high price on Sunday.

Yes, But: There are reportedly dozens of fake Trump memecoins also launching at the same time, according to Cointelegraph.

Early Bird’s Nest Egg Gains: The release of Trump’s memecoin has raised ethical concerns, accusations of market manipulation, and questions about potential conflicts of interest.

  • Some view the memecoin as a way for Trump to profit from loyal supporters, who might be purchasing tokens with little intrinsic value.

  • Crypto leaders fear that high-profile memecoins could harm the industry's reputation.

Final Thoughts: It is too risky to buy a memecoin from a sitting president.

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Notables

Notable Earnings Today: Netflix (Nasdaq: NFLX), Charles Schwab (NYSE: SCHW), 3M (NYSE: MMM), United Airlines (Nasdaq: UAL), Interactive Brokers (Nasdaq: IBKR), D.R. Horton (NYSE: DHI), Capital One Financial (NYSE: COF), Seagate Technology (Nasdaq: STX), FB Financial (NYSE: FBK), Fulton Financial (Nasdaq: FULT), Pinnacle Financial Partners (Nasdaq: PNFP), Fifth Third Bancorp (Nasdaq: FITB), Progress Software (Nasdaq: PRGS), Prologis (NYSE: PLD), KeyCorp (NYSE: KEY), Zions Bancorp (Nasdaq: ZION), New Oriental Education & Technology (NYSE: EDU), Wintrust Financial (Nasdaq: WTFC), Agilysys (Nasdaq: AGYS), Community Financial System (NYSE: CBU), Forestar Group (NYSE: FOR), Great Southern Bancorp (Nasdaq: GSBC), Guaranty Bancshares (NYSE: GNTY), Hancock Whitney (Nasdaq: HWC), Old National Bancorp (Nasdaq: ONB), Pathward Financial (Nasaq: CASH), Peoples Bancorp (Nasdaq: PEBO), Simmons First National (Nasdaq: SFNC).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Juan Pistolas (Honeycomb), PVpallet (StartEngine), BuildClub (StartEngine).

Notable Economic Events Today: N/A.

TSMC Evacuates Some Factories

Taiwan Semiconductor (NYSE: TSM) reportedly evacuated some of its factories in Tainan following a 6.4 magnitude earthquake, according to Nikkei Asia.

  • The company has not commented on the report.

Final Thoughts: The stock has started 2025 well, with a 4.92% gain.

Redwire Makes Splashy Acquisition

Aerospace manufacturer and space infrastructure company Redwire (NYSE: RDW) acquired Edge Autonomy, an airborne system technology business, on Monday for $925 million.

Final Thoughts: Redwire’s stock is up over 400% (wow!) in the last 12 months.

Welcome, Oligarchy: Tech Elites Take Center Stage at Trump Inauguration (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.