- GRIT
- Posts
- Big Crypto Approval
Good Morning!
Happy Friday! Have a great Memorial Day weekend:
👉 Ethereum spot ETFs approved
👉 Live Nation being sued
👉Boeing has more trouble
Memorial Day is around the corner!
To celebrate, we are offering an incredible 75% discount on our GRIT VIP yearly subscription. For a limited time, the normal price of $372 is only $93! 🤯
As a GRIT VIP subscriber, you'll gain exclusive access to expert market analyses, investment strategies, and insider tips designed to help you grow and protect your wealth. Don’t miss this chance to secure your financial future at a fraction of the cost. Celebrate Memorial Day by investing in your financial education – sign up now and save big!
What you get with GRIT VIP:
ETHEREUM: Spot ETF
The SEC has approved an Ethereum ETF, one of the largest cryptocurrencies. This follows the successful launch of bitcoin ETFs, which have attracted over $12 billion in investments.
Source: Kitco
The decision aligns with the SEC's deadline for deciding on the VanEck Ethereum ETF. Companies like BlackRock, Bitwise, and Galaxy Digital, known for their bitcoin ETFs, are now looking to launch Ethereum funds. Ether's price rose by ~3% after the announcement, following a ~20% surge earlier in the week. However, the SEC's approval doesn't guarantee all these funds will launch immediately
🎯 GRIT TAKE: This is absolutely massive for the crypto…upgrade to VIP now to read the full GRIT Take!
DOJ: Sues Live Nation
The U.S. Department of Justice is suing Live Nation, Ticketmaster's parent company, for alleged antitrust violations. Supported by 30 states, the lawsuit follows a 2022 investigation into Live Nation's monopoly in ticketing, sparked by fan complaints about Taylor Swift's Eras Tour tickets.
Source: Live Nation
Live Nation and Ticketmaster merged in 2010, creating a dominant force in live events. They manage over 400 artists, control 60% of major concert promotions, handle global ticket sales, and own over 265 North American venues. Ticketmaster controls 80% of primary ticketing for major concerts. Filed in New York, the lawsuit claims Live Nation violates the Sherman Act by using its dominance to secure exclusive contracts with artists and venues, stifling competition. The DOJ alleges Live Nation also threatens competitors and acquires smaller rivals to maintain its power.
BOEING: More Trouble
Boeing is expected to burn significant cash this year, with no improvement in plane deliveries in the second quarter due to production issues, according to CFO Brian West.
Source: Boeing
Earlier, West forecasted free cash flow in the "low single-digit billions," but new crises have increased costs. Boeing burned nearly $4 billion in cash in the first quarter, with a similar or worse outcome expected in the second quarter, and a return to positive cash flow likely in the second half of 2024. Aircraft deliveries in the first quarter were the lowest since the pandemic, causing Boeing's shares to drop over 7%. CEO Dave Calhoun will step down by the end of the year, and key executives have been replaced following complaints about delivery delays.
Chart of the Day
📊Real GDP Growth
Source: Visual Capitalist
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstbets
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply