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- 👉 The Investing Week Ahead: BTC's New ATH
👉 The Investing Week Ahead: BTC's New ATH
$72,008...
Welcome to your new week.
Before we jump into things, I want to ask you all for a favor — something I don’t do often!
Please listen to my episode of Mind the Business: Small Business Success Stories with Grace Wells! This is the podcast I’ve been recording alongside iHeartMedia for a over a year now, and we’re very excited to release Season 2.
In case you’re unfamiliar, here’s a post I made introducing the show.
Grace Wells is a 26-year-old solopreneur who, like myself, starting making short-form videos on TikTok during the pandemic. Except she didn’t make videos about personal finance and investing — her videos were much more entertaining!
She introduced the “Making Epic Commercials for Random Objects Series” in June of 2020, where she quite literally made epic commercials for random objects like forks, eggs, and bread crumbs. Her funny commercials quickly caught the attention of major brands like Dawn, Gain, and L’Oreal, and Maybelline.
Now this 20-something-year-old makes $100s of thousands per year working entirely for herself. If you’re looking for inspiration to start a side hustle, trying to land major clients for your small business, or just looking for a 30-minute conversation about business and entrepreneurship — please take a listen to the episode!
To explore the show in its entirety, click here.
To skip directly Grace Wells’ episode, click here for Apple and here for Spotify.
Key Earnings Announcements:
A large mix of software and retail spotlight this week.
Monday (3/11): Asana, Casey’s, Eltek, Endeavour Silver, Mission Produce, Vail Resorts
Tuesday (3/12): Allbirds, Archer-Daniels-Midland, Clover, Kohls, Manchester United, On Holding, PHX Minerals
Wednesday (3/13): Anika Therapeutics, Dollar Tree, Sentinel One, Ui Path, Williams-Sonoma, Zim Integrated Shipping Services
Thursday (3/14): Adobe, Blink Charging, Dicks, Dollar General, PagerDuty, Smartsheet, Ulta Beauty
Friday (3/15): Embraer, Jabil, Soho House, Telos, Townsquare Media
What We’re Watching:
Adobe's stock price traded down during December after reporting a +19% profit increase paired with lackluster guidance — despite +12% revenue growth to over $5 billion.
The anticipated boost from its AI tool — Firefly — didn't meet investor expectations. Also, Adobe scrapped its $20 billion Figma acquisition due to regulatory hurdles — costing them a $1 billion fee.
These setbacks have put Adobe in a tight spot — challenging the company to regain investor confidence and strategically move forward. The market will watch closely as ADBE releases Q1 ’24 earnings on Thursday — hoping to add to their streak of four straight estimate-beating quarterly reports.
Oracle is attempting to claim leadership in cloud applications by 2026 — targeting a share of the $354 billion cloud revenue opportunity.
By focusing on industry-specific automation and integrating AI / analytics — Oracle plans to outpace competitors. This includes aiming to surpass Google in cloud infrastructure.
As for earnings, forecasts suggest a +13.1% rise to $1.38 per share and a +7.2% increase in revenue — supported by the strong cloud service demand. CEO Safra Catz is expected to offer a bright outlook for 2024 — particularly with Nvidia's AI partnership bolstering confidence. Oracle's stock has climbed +6.6% YTD.
Investor Events / Global Affairs:
NYCB scrambles for a cash comeback, and BlackRock continues to pile up Bitcoin.
NYCB’s Swift Recovery
Last Wednesday, NYCB saw its shares plummet -42% and trading halted… only to bounce back with a +20% gain after securing a $1 billion cash infusion a few hours later.
This move saw the stock leap an astonishing +125% from its daily low — showcasing a remarkable recovery for a bank with assets over $100 billion.
The rescue package — pieced together from heavyweights like Liberty Strategic Capital, Hudson Bay, and Citadel — introduced stability amidst chaos. The bank also saw a quick CEO switch – with Joseph Otting stepping in after Alessandro DiNello's brief six-day tenure.
The banking sector could also feel increasing pressure when 25% of all office loans are set to mature in 2024. Many banks are significantly exposed to commercial real estate — this looming deadline adds another layer of challenge.
BlackRock’s Bitcoin Bet
Larry Fink and BlackRock (BLK) — the $9 Trillion Asset Manager — have officially said Bitcoin is “Digital Gold.”
BlackRock's iShares Bitcoin ETF (IBIT) has made waves by adding 18,000 Bitcoin last week — 21x the daily new supply and pushing its total to 195,985 Bitcoin in just two months. Surpassing MicroStrategy's accumulation over 48 months, IBIT's rapid buying spree is a key driver behind Bitcoin's +63% surge this year.
BTC soared past $70,000 this morning, hitting a new all-time high of $72,008.
We’ll be having BlackRock leadership back on the Rich Habits podcast soon to discuss further. Be sure to follow us on Spotify!
Major Economic Events:
CPI Inflation Data and Retail Sales are in focus.
Monday (3/11): N/A
Tuesday (3/12): Consumer Price Index, Monthly U.S. Federal Budget, NFIB Optimism Index
Wednesday (3/14): N/A
Thursday (3/15): Business inventories, Producer Price Index, Retail Sales
Friday (3/16): Capacity Utilization, Consumer sentiment (prelim), Empire State manufacturing survey, Import price index, Import price index minus fuel, Industrial production
What We’re Watching:
"Despite the strong start to the year, we ultimately believe the disinflation trend remains in place. We expect the February data to show that while inflation remains frustratingly high, the underlying trend is not strengthening."
Bouncing back from January's sharp dip — the deepest since March of 2023 — February's retail sales are looking up.
If you’re starting your investing journey or are interested in buying T-bills yielding 5% or more, consider visiting Public.com.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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