Today is Monday, August 29, 2022.
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Space Stocks to Pick in 2022
There are reasonable ways to invest in space stocks, said Pinnacle Associates portfolio manager Randy Baron in a new episode of the Early Bird podcast.
Current State: Baron said that space may not be an investor’s core holding at this time, but there is a “satellite” approach to adding some space stocks to a diverse investment portfolio.
Winners: Look for space stocks with good cash flow because those companies are less likely to declare bankruptcy, according to Baron.
Mainstream: The space industry will grow and become more mature with more players by the end of the decade, Baron said.
Final Thoughts: What specific space stocks does Baron suggest investing in? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: Pinduoduo (Nasdaq: PDD), Prospect Capital (Nasdaq: PSEC), Catalent (NYSE: CTLT), Gambling.com Group (Nasdaq: GAMB), SelectQuote (NYSE: SLQT), Ituran Location and Control (Nasdaq: ITRN), Joyy (), NAPCO Security Technologies (Nasdaq: NSSC), Tuya (NYSE: TUYA), H World Group (Nasdsq; HTHT).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: Steiner’s Coffee Cake of New York (StartEngine), Battle Approved Motors (StartEngine), TradeAlgo (StartEngine), Oscilla Power (StartEngine), Bone Haus Brewing by Skullenwink (StartEngine), AquiPor (StartEngine), Retina Technologies (StartEngine), RimTech by Project Overlord (StartEngine), Evren Technologies (StartEngine).
Notable Economic Events Today: N/A.
Cardano Hard Fork: Coming Soon
Update: Cardano founder Charles Hoskinson said in a video on Friday that testing is being done on an upgrade known as the Vasil hard fork for September, according to Decrypt.
Background: Ethereum recently announced that it would initiate a big upgrade from the way it validates transactions to make it more energy efficient. This has done wonders for the price of Ethereum and now this newly announced update on Friday is helping Cardano.
Numbers: Cardano's price was up about 3% between Friday and Saturday, before losing those gains on Sunday. It has lost over 65% of its value in 2022.
Final Thoughts: More details on Cardano’s hard fork will be needed, but this is positive news so far.
Dollars Hits 20-Year High
By late Sunday, the value of the U.S. dollar hit a 20-year high against other currencies, according to Reuters.
Catalyst: On Friday, Federal Reserve Chair Jerome Powell warned that interest rates will stay high to fight inflation. This is impacting the price of the dollar.
Final Thoughts: Why does this matter to investors? Because many stocks are facing foreign currency headwinds due to the dollar's strength.
Trends to Watch
Opportunities: Rocky road lies ahead, but here’s 5 altcoins that still look bullish (Cointelegraph)
Protection: Inflation Hedge or Not, Bitcoin's True Value Is Separation of Money and State (CoinDesk)
Buying Frenzy: Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties (The Wall Street Journal)
Still Too Much: ‘Inflation Fever’ Is Finally Breaking — But Central Banks Won’t Stop Hiking Rates (Bloomberg)
Successful: Netcapital Funding Portal Enables $1.4M Capital Raise by Avadain (Crowdfund Insider)
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