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Market Moves Yesterday
S&P 500 @ 6,115.07 ( ⬆️ 1.04%)
Nasdaq Composite @ 19,945.64 ( ⬆️ 1.50%)
Bitcoin @ $96,856.18 ( ⬆️ 0.16%)
Hey Scoopers,
Happy Friday! Are you ready for an exciting newsletter today?
👉 Cypto bull run drives Coinbase revenue
👉 HIMS stock is on the move (again!)
👉 Airbnb’s Q4 earnings beat
So, let’s go 🚀
Market Wrap
Hey, Scoopers!
Let me break down Thursday's Wall Street action in a way that'll make you smile!
Picture this: stocks decided to party despite spicy inflation news, with our tech buddies stealing the spotlight.
Speaking of tech stars, Nvidia's stock jumped 3.2% after Hewlett Packard Enterprise announced some exciting news: They're the first to ship products featuring Nvidia's shiny new Blackwell chip.
Not to be outdone, AppLovin (last year's tech superstar) crushed it with a jaw-dropping 24% jump, while Tesla joined the fun, zooming up nearly 6%!
Now, here's where it gets interesting. Remember when Trump had everyone on the edge of their seats about tariffs?
Well, he signed some paperwork to "look into" them but didn't drop any bombshells. Talk about a plot twist!
Meanwhile, the inflation story is like a perfectly balanced sandwich—slightly toastier on top (the PPI came in at 0.4%, a tiny bit higher than expected) but with the right amount of filling (the core PPI matched predictions at 0.3%).
This had traders breathing a sigh of relief about the Fed's favorite inflation measure coming up in February.
The cherry on top? The 10-year Treasury yield took a chill pill, dropping to 4.531%. As one market guru said, if it dips below 4.5%, we might be in for an even better party.
However, I should mention that we're still dealing with those pesky trade tensions and Wednesday's surprise consumer price jump.
If you're frustrated by one-sided reporting, our 5-minute newsletter is the missing piece. We sift through 100+ sources to bring you comprehensive, unbiased news—free from political agendas. Stay informed with factual coverage on the topics that matter.
Trending Stocks 🔥
GameStop - The video game retailer and meme-stock favorite jumped 7% in pre-market after it disclosed plans to invest in Bitcoin and other cryptocurrencies.
Reddit - The social media platform slumped 5% after user numbers fell short of Wall Street’s estimates.
The Trade Desk - The ad-tech stock plunged 33% as Q4 revenue and guidance was weaker than estimates.
Coinbase Doubles Revenue in Q4
Hold onto your crypto wallets, folks! Coinbase dropped its Q4 results, and they knocked it out of the park! 🚀
The crypto exchange reported revenue of $2.27 billion and adjusted earnings of $4.68 per share, compared to estimates of $1.88 billion and $1.81 per share, respectively.
The secret sauce? A post-election crypto rally that had traders clicking "buy" faster than you can say "blockchain."
Trading volume skyrocketed 185% year over year to $439 billion, with retail traders leading the charge (up 224%!). The institutional investors weren't far behind, with a 176% jump.
Coinbase already pocketed $750 million in trading revenue through mid-February. Plus, with Congress potentially passing a stablecoin bill this year, CFO Alesia Haas is practically rubbing her hands together at the growth possibilities.
Coinbase said it is trying to diversify its revenue streams by moving away from trading. As of the fourth quarter, trading makes up 68.5% of its total revenue, mostly from retail traders.
Revenue from its subscription and services business, which includes stablecoins, staking, custody, and its Coinbase One product, is expected to be between $685 million and $765 million for the current quarter.
Who said finance had to be boring? Coinbase is turning crypto trading into an art form, and Wall Street loves the show—its stock jumped 2% after hours!
Hims & Hers Gains Over 25%
Shares of Hims & Hers Health, the telehealth provider that has found a niche in the obesity-drug boom, surged 28% on Thursday as the company’s controversial Super Bowl ad on Sunday continued to gain traction.
According to EDO Inc., a market research firm, the company’s ad ranked fifth among all Super Bowl ads in terms of how well it pushed consumers to seek more information about a brand.
Retail investors appear to be riding the stock’s momentum, but the company might also have a friend in newly confirmed Health and Human Services Secretary Robert F. Kennedy Jr., said Jared Holz, a Mizuho analyst, in a note to clients.
“Our sense (reading in-between the lines) is that the RFK-led HHS will take a fairly lenient stance with respect to” compounders when it comes to weight-loss drugs, Holz wrote, “provided the drugs are seen as safe.”
Hims & Hers sells a compounded version of semaglutide, the active component in Novo Nordisk’s Wegovy and Ozempic.
Shortages of the two have allowed cheaper compounded versions to proliferate on the market.
Over the past 12 months, Hims & Hers shares have risen more than sixfold, adding about $9.9 billion to their market value.
Airbnb Beats Q4 Estimates
Airbnb reported its Q4 numbers, and they're looking more luxurious than a beachfront villa! 🏖️
The home-sharing giant crushed expectations, sending its shares soaring in after hours.
Earnings were $0.73 per share (analysts expected $0.58 per share), and revenue hit a sweet $2.48 billion (beating the predicted $2.42 billion) in Q4.
Remember when Airbnb was in the red last year, with a $349 million loss? It has reversed course and reported a net income of over $450 million.
Guests love it, too - they booked 111 million nights and experiences (up 12% from last year), proving that wanderlust is alive and well!
The average daily rate remained steady at $158 (just 1% up from last year). With over 5 million hosts and 8 million active listings worldwide, finding your dream stay is easier than ever.
Their nonprofit arm, Airbnb.org, also showed some heart by housing 19,000 people and 2,300 pets after those nasty LA wildfires.
Looking ahead to Q1, they're playing it cool with a forecast slightly below expectations. Plus, they're teasing some mysterious new offerings coming in May.
Headlines You Can't Miss!
Sony shares surge after guidance beats estimates
U.S. and India to double bilateral trade in five years
TikTok returns to Apple and Google app stores
Apple to integrate Alibaba AI into iPhones in China
Crypto scams touch an all-time high in 2024
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DISCLAIMER: None of this is financial advice. The newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.