Top Furniture Stocks to Pick
Plus, JetBlue's summer plans.
Today is Monday, April 11, 2022.
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Top Furniture Stocks to Pick
Despite some declining sales, there are still stocks in the furniture sector that investors should watch, says Michael Mills, managing director at the private investment firm Infinitary Fund, in a new episode of the Early Bird podcast.
Growth: The furniture industry witnessed incredible growth during the pandemic, according to Mills, which was attributed to more people moving and consumers getting stimulus checks.
Supply Chain: Mills says that the furniture industry is experiencing supply chain issues, which have resulted in fewer raw materials and a lack of freight capacity.
Inflation: Higher prices have hit the furniture industry, but Mills says that demand for furniture is still strong today.
Final Thoughts: Listen to a new episode of the Early Bird podcast to learn from Mills about which furniture stocks you should pick and which furniture stocks you should avoid.
Notable Earnings Today: Sigma Lithium (Nasdaq: SGML).
Notable IPOs Today: PowerUp Acquisition Corp. Class A Ordinary Shares (Nasdaq: PWUP), Pacer BlueStar Digital Entertainment ETF (Nasdaq: ODDS), Western Acquisition Ventures Corp. Common Stock (Nasdaq: WAVS).
Notable Equity Crowdfunding Campaigns Ending Today: ThinOptics (StartEngine), Hunny Bunny’s Confections (Honeycomb), AquiPor (StartEngine), Blazing Star Cafe (Mainvest), Manaia Collective (Mainvest).
Notable Economic Events Today: N/A
JetBlue Reduces Summer Schedule
JetBlue (Nasdaq: JBLU) is trimming its summer schedule for 2022 in order to prevent future cancellations similar to last summer, according to a report from CNBC.
Details: Over the weekend, the report stated that the airline will cut its capacity in May by 8%-10%, and it will do the same thing over the summer in order to avoid airline disruptions.
Background: Last summer, JetBlue and other airlines were forced to cancel many flights due to staff shortages that could not keep up with demand.
Big Picture: JetBlue is not the only airline to do this. Last week, Alaska Airlines (NYSE: ALK) also announced that it would cut its schedule by 2% through June.
Number: Shares of JetBlue are down 22% in the past six months.
Recent History: Last week, JetBlue announced that it wants to acquire Spirit Airlines (NYSE: SAVE).
Final Thoughts: Keep an eye on JetBlue’s stock on Monday to see how this news might impact the price.
A Look at Equity Crowdfunding Valuations In 2022
Here are some data points about equity crowdfunding, courtesy of ratings and analytics provider KingsCrowd, regarding valuations of startups in the first quarter of 2022.
Going In: As the year started, equity crowdfunding was at a crossroads. Historically, startup valuations in equity crowdfunding have gone up month over month. But after hitting a total valuation of $13.6 billion in October 2021, that number sunk to $12.4 billion in November and $12.8 billion in December.
Recovery: Valuations in equity crowdfunding have recovered in 2022. The total valuations of startups jumped to $13.3 billion in January and then to $13.8 billion in February.
Record: Equity crowdfunding valuations hit $14.7 billion in March, an all-time record.
Final Thoughts: Investors will be curious to see if valuations in equity crowdfunding continue to rise in the future.
Trends to Watch
Low: Tesla China Exports Slump as Local Demand Sucks Up Shipments (Bloomberg)
Sold: Cornerstone Building to sell coil coatings business in $500M deal (Seeking Alpha)
Making It Happen: Crypto Industry Helps Write, and Pass, Its Own Agenda in State Capitols (The New York Times)
Decline: Bank Deposits Could Drop for First Time Since World War II (The Wall Street Journal)
Altcoin Bullish: Solana NFT marketplace integration and DApp metrics shine even after SOL’s 20% drop (Cointelegraph)
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