Come Through Robinhood!! You Bett’r!!!👏🏽👏🏽

Hi there! 

HAPPIEST EASTERRRRRR, from your fav of course!!!

Hope you’re having a wonderful Easter. I know you’re probably busy with all the celebration, but I just want to check in as usual and see how things are going on your end. 😉

Alright! Let’s dive into today’s gist.Are you ready?!!

Robinhood Leveling Up, Huh?

Guess what?!

Robinhood’s making some serious waves in the finance world! they just dropped announced their new credit card, and its called the Robinhood Gold Card. Wow!

And you know what? The card is exclusively for their top-tier Robinhood Gold customers. But, here is another interesting part, the card has zero annual fees and no foreign transaction fees! Plus, you’ll be racking up 3% cash back on all your spending, with a sweet 5% cash back for bookings made through their travel portal! No way! 

Yes, way buddy! 😁 

So, apparently, they acquired X1, a credit card startup, last year to make this happen. And now, they’re taking it to the next level by offering this juicy card to their premier Robinhood Gold customers with plans to roll it out to everyone else later. Robinhood’s really leveling up, huh? 

Well, according to Vlad Tenev, the CEO, the new credit card will bring the company one step closer to the goal of giving everyone better access to the financial system. Robinhood Gold members will get broader access by the end of the year to the card, which is currently only available for those on a waitlist. So, the card is their way of getting more people into the financial game, especially the younger ones and those new to the workforce. Smart move! 

Vlad claims they’re setting a new standard with that 3% cash back – way above what others are offering. He even called it a “no-brainer value proposition”!

The best of this story is that after the announcement, Robinhood’s shares were up 2.5% to $19.77 as of 10:20 a.m. ET Wednesday. They have gained about 60% year to date. 

GameStop, What’s the Plan B?

GameStop Shares declined after announcing its quarterly earnings that missed the Street’s expectations. Ouch!! 😬 

Adjusted earnings per share were like 22 cents, which wasn’t up to the 30 cents the street was expecting. And its revenue? It went from $2.23 billion last year to just $1.79 billion this time around.

The company’s hardware and accessories sales were $1.09 billion, which is a 12% year-over-year (YOY) decrease, while software sales slumped 31% to $465 million. 😐

Michael Pachter, a Wedbush analyst stated that as more and more people download games digitally, there is less incentive for them to visit physical stores like GameStop. This is a problem for the company, as it relies on foot traffic to drive sales. 👀

Also, they’ve been slashing jobs left and right, amid increasing online competition and softening consumer spending. At the start of February, the company had approximately 8,000 full-time salaried and hourly associates and between 13,000 and 18,000 part-time hourly associates globally, according to its annual 10-K report.  Wow! From 11,000 full-time employees to just 8,000 now! That’s a lot!

And they’re closing up shop in Ireland, Switzerland, and Austria too. Really? 
Yea! But man, GameStop has got to figure out how to get customers back in those stores.

Make sure to spread the joy by sharing this news with your friends. 🤗 
Don’t forget to inform them to download the trove app – to enjoy a journey to wealth just like you.

Merck is on a Winning Streak

Have you ever heard of pulmonary arterial hypertension or PAH? 🤔 It’s a potentially deadly condition that can cause major problems for the heart and lungs. But luckily, Merck has just won FDA approval for a new drug to treat the disease. Wow! Nice one

I mean, it feels like the company just hit a huge milestone. you know what I’m saying?!

Also it’s been said that Winrevair’s price tag is a whopping $14,000 per dose, but hey, when it comes to beating PAH, I’m sure people are willing to pay the huge amount. It has also been recorded that patients take the injection once every three weeks to treat the disease, which affects nearly 40,000 people in the U.S. Merck. This is huge!! 

In 2021, Merck paid the sum of $11.5 billion when it bought Acceleron Pharma, the company that developed Sotatercept and now it generates more than 40% of its revenue from cancer treatment Keytruda, the world’s top-selling drug.

But hey! This is not all about Merck, after the announcement regarding the approval, the company shares went up a solid 3.9% to $130.46, hitting a record-high of $133.10. 

C’mon?! Up nearly 20% for the year? That’s what I call a winning streak, my friend!

Concentrix, Not so Bad!

Concentrix Corporation just dropped its latest earnings report.

Well! it’s a bit of a mixed bag, the company’s earnings per share were lower than analysts had predicted. Oh boy!

Yeah! Its quarterly earnings were $2.57 per share, less than the expected $2.58. Last year, they were at $2.56 per share, so not much movement there. This quarterly report actually represents an earnings surprise of -0.39%. A quarter ago, The Street expected that Concentrix would post earnings of $3.09 per share but it produced earnings of $3.36, delivering a surprise of 8.74%. Nice!

But hold up! *whispers* I heard out of the last four quarters, they’ve only beaten those EPS estimates once.  

Anyway, let’s go back to the recent report.

Concentrix pulled in a cool $2.4 billion this quarter, topping Analyst estimates by 0.96%, and last year, they were cruising at $1.64 billion, so that’s some solid growth. And guess what? They’ve beaten revenue expectations two times out of the last four quarters.

Not so bad, huh?

And It’s a wrappppp!

What are you waiting for?!?!

Forget not this ministry of yours: Tell a friend to tell a friend to download the Trove