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Market Snapshot

What's Ripe

Peloton Interactive ($PTON) – Peloton is making gangster moves, pushing the stock up up 6.7% yesterday. The exercise equipment company may need to find a new way to describe itself after announcing plans to enter the video gaming industry through an in-app game called Lanebreak. You read that right, exercise + gaming, a combo rarely seen in human history. Oh yeah, and they’re giving 4 million UnitedHealthcare customers free one-year subscriptions, in what I think is the first-ever win-win-win-win situation for Peloton, United, their users, and society.

Square ($SQ) – There are four right angles in a square. After yesterday we may need to add another, as Square clearly took the “right angle” in the release of Square Banking, rising 5.5% on the news. The new feature made for small businesses allows owners to manage cash flows and other finances more conveniently.

Norwegian Cruise Line Holdings ($NCLH) – Norwegian seems to be digging themselves out of the grave. As a favorite reopening trade, Norwegian pretty much lives and dies by virus fears at this point. After everyone sh*t their pants over the Delta variant on Monday, nobody seemed to care anymore yesterday, thus allowing Norwegian to rebound 8.3%, the most of any cruise stock.

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What's Rotten

Ardelyx ($ARDX) – If you make a promise and get everyone hyped up for it, you better deliver. Unfortunately, delivering is exactly what this biotech did not do, leading to a 74% collapse yesterday. The company attempted to release a drug aimed at relieving a specific symptom of kidney disease, and the FDA, in their review, officially labeled it as “pure cap.”

Philip Morris International ($PM) – Tobacco product manufacturer and infamous cancer giver, Phillip Morris, took a dive yesterday following their earnings release. Despite beating on this past quarter’s earnings, the firm corrected full-year guidance by cutting expected earnings by 17 cents per share. Fortunately for Phillip Morris (unfortunately for everyone else) cigarette sales continued to rise, up 3.2%, but investors couldn’t get over that 17 cent/share cut.

BTC – Everyone have their drinks ready? Good, now let’s pour one out for BTC. The King has fallen sub-30k for the second time in 2021. What else can we say? After China’s crackdown and traders choosing real jobs over gambling, winter is in full swing for digital currency. But then again, no one can be sure what the future holds and we could very well see BTC in What’s Ripe tomorrow.

Macro Monkey Says

GeoBeef Sizzles – They say everything’s bigger in Texas, but really everything’s bigger in China. Since the financial crisis, China has held Simone Biles-level dominance of the global trade market. While economic ties do not necessarily represent political allyship, Uncle Joe’s recent statement towards Chinese government-sponsored cyber attacks, such as the one against Microsoft, could be a foreshadowing of a less friendly future. As with other non-allies such as Russia, economic sanctions could be looming, throwing a Great Wall-sized wrench in the global trade market.

Food for Thought:

Bezos Blast Off – Bo Burnham was right. The CEO, entrepreneur, born in 1964, Jefferey Bezos, really can do it. This was proven true yesterday as The Sultan of Seattle alongside his brother, an elderly person, and an 18 year old blasted 65 miles above West Texas reaching speeds of 2,233mph. They crossed the Karman Line and entered (actual) space. Whatever you want to call it; the most expensive midlife crisis in history, an evil rich man in space, or the early days of a new space age, it was undeniably pretty cool (even if it did only last 10 minutes and 10 seconds).

Meme Meditation

Wise Investor Says

“With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” - Carlos Slim Helu

Happy Investing,

Patrick & The Daily Peel Team

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