I be back like I never left! [“I never freeze” in our favorite Black Panther’s accent]… and I come bearing a bag of nuggets for ya.
But first, how are you doing? How did you feel about the pretty decent earning reports? Did you see any (hopefully) upward movement in your portfolio at all, or perhaps are we still trusting God?
BTW I’m thinking we should organize a webinar on “How To Rebalance Your Portfolio During Steep Volatility”… You like? Tweet/Ping/Email me if you will be interested, and we can make it happen!
Now, let’s geek it out! You know how we do!
We All Feel the Heat!!
It’s no longer news that the market has been [you know] comme ci comme ça over the past three months or so. If you’re not seated with your seatbelt fastened, the volatile swings from this market may knock your socks off. Yea mehn, literally! However, one would think many institutional investors may not be as badly hit as retail investors, like you and I — but just like a rising tide raises all boats, the opposite is the case in this current landscape. One of the largest actively managed ETFs in the world with $21 Billion in assets, the ARK Innovation ETF, is heating up from market losses. Although the ETF delivered a whopping 153% return in 2020, it has suffered a loss of 27% in the past three months, including a 13% decline just in the past week.
FYI: The ETF focuses on “disruptive innovation” stocks and its top 10 holding include Tesla, Square, Teladoc Health, Roku, Shopify, Spotify Technology and many more.
It’s HOT in here, y’all!
These Analysts are Not God, las las
Unlike many tech companies where most analysts were expecting a profit of some kind, ROKU was casted to be down and out – (in my voice) “not a chance they’ll turn a profit”, if you’d asked the analysts. Most analysts had expected a loss per share of 14 cents on revenue of $492 million for ROKU in the first quarter of 2021 but the company reported a shocker. [Let me gently close up your jaw]. Roku rose by a stunning 16% to a profit of 54 cents [its best on record], on sales of $574 million, up 79% year-on-year. The company continues to benefit from the boom in streaming amid the global pandemic. Second quarter sales are expected to reach $615 million. ROKU says it has streamed 27.7billion hours of content since its inception in 2008.
The GOD of ROKU!!! Shame those who testify against me!!!
Doge to the Moon, Literally!
Self acclaimed Dogefather, Elon Musk, couldn’t deliver the anticipation of many doge lovers to get the coin to $1 during the last Saturday Night Live. At the time he went live, the coin had dropped by 26% or 56 cents, against the ride up most hoped for. However, Elon delivered more shocking news during the program, saying that SpaceX will accept Dogecoin as payment to launch ‘DOGE-1 mission to the Moon’ next year, which pretty much means Doge is LITERALLY going to the Moon!!! The plan is to have this mission executed in the first quarter of 2022, with the company accepting the meme-inspired cryptocurrency as payment. SpaceX’s vice president of commercial sales, Tom Ochinero, said “DOGE-1 will demonstrate the application of cryptocurrency beyond earth orbit and set the foundation for interplanetary commerce.”
What started as a joke, could be a major part in the space exploration industry. What a time to be alive!
Cyber Attack on Oil
Gasoline futures rise as much of vital pipeline remains shutdown following cyberattack. Futures for fuel prices have risen since the recent cyber attack on a major U.S. pipeline. You’re probably like Tomi, what are you talking about?! Ok, quick one: Colonial Pipeline fell victim to a cybersecurity attack that involved ransomware, forcing it to temporarily shut down all pipeline operations. Sadly, colonial transports nearly half of the United States’ East Coast’s fuel supply through a system that spans over 5,500 miles between Texas and New Jersey. The pipeline is a crucial part of U.S. petroleum infrastructure, transporting around 2.5 million barrels per day of gasoline, diesel fuel, heating oil and jet fuel. The system also provides fuel for airports, including in Atlanta and Baltimore and supplies the military. The company said that some of its smaller lateral lines are now online, but that its mainlines are still shut down until it is safe and in full compliance with the approval of all federal regulations to restore operations. The catch though is that although tank farms typically have a few days of stored fuel supply, a prolonged outage could lead to a spike in fuel prices.
Let’s all sing kumbaya in hopes of quick restoration.
Follow us on all social media platforms: @TroveFinance
If wishes were horses, beggars would ride.
XOXO
