The reboot

[The beef 675] [I'm an image] “We all know how this movie ends...” - Jason Hey there carnivores, Markets were mixed on Friday, but it was quite a ride. More on that below… Keep raging, Jeff & Jason [Image] [I'm an image] Mixed signals Markets had another volatile session on Friday. After starting the day up 357 points, the Dow came back down to earth and closed 200 points in the red. Things got off to a hot start when news out of China indicated that the world’s second-largest economy would be [accelerating its purchase of goods]( from US farmers. So far, China has only bought $4.5B of the $36.5B it pledged to take off of Uncle Sam’s hands as part of the phase one trade deal. Remember when that was the worst of our problems? Understandably, the purchases have slowed. Thanks, COVID. It’s doubtful that the CCP will be able to hit its quota by year-end but it’s the thought that counts… right?. Stop me if you’ve heard this before “Hold my beer.” - Volatility Apple announced that it is closing 11 stores in Florida, Arizona, North, and South Carolina… again. The stores were closed for coronavirus once before, then reopened, and now will be closed again. Which is a damn shame considering the shenanigans 'Florida Man' could get into with those 12 megapixel,ultra-wide angle iPhone 11 cameras on display at the Apple Store. Not to be outdone, major cruise lines announced that they are suspending cruises out of US ports through September 15. These aren’t exactly encouraging signs that 'rona boi is done having his way with us. Markets slid after the news, [erasing earlier gains](. The Dow and S&P closed down .8% and .5%, respectively and the Nasdaq closed up .03% The bottom line... Whether it’s a continuation of the “first” wave or the start of the “second” wave, coronavirus cases have been rising in the US as stay at home restrictions begin to lift. Dr. Fauci must have seen his shadow... 6 more weeks of coronavirus. But this time investors are looking to more than the obvious metrics (think: unemployment and new cases) to figure out what the hell is really going on out there. Savvy investors [are tracking]( restaurant reservations, increases in travel through airports, and searches for directions to tell them how the economy is truly doing. Businesses may be open, but these indicators give insight into whether people are actually getting out and spending money. [Image] Looking For A Trading Edge? [Alternate text]( Join Jason Bond On June 25 at 2 PM ET As He Reveals The “Bookie” Advantage [Register Now]( [I'm an image] ☑️ Emergency landing. American Airlines is looking for help. It’s doing so [via $3.5B]( in new financing. The airline sold $750M in shares and an equal value worth of senior convertible notes that come due in 2025. It also will dole out $1.5B in senior secured notes, and enter a $500M term loan facility. They considered a GoFundMe, but decided this path looked more “professional.” The move comes as airlines are preparing for more turbulence. Delta believes it will be at least three years before things are “back to normal,” while US air travel providers burn through a collective $45B a day due to lack of demand. Delta, the Debbie Downers of the airline industry. ☑️ New rules. Robinhood is [adjusting its options offering]( after a 20-year-old Robinhood customer took his own life last week, believing he’d lost more than $700k trading put options. The number shown in the trader’s dashboard likely would have been updated once the underlying stocks hit his account. His confusion was highlighted in his suicide note. In response, Robinhood will offer increased education on options trading, while making a $250k donation to the American Foundation for Suicide Prevention. ☑️ Postponed. Elon Musk announced that the uptick in coronavirus cases will force Tesla to [push its]( shareholder meeting scheduled for July 7th. Lonnie EV said he’s not sure when the meeting will happen, but mentioned that the issue would be revisited in about a month. In other, completely unrelated news, Institutional Shareholder Services is investigating Tesla, and urging shareholders to vote against the reelection of Tesla board chair Robyn Denholm. Since Denholm’s appointment, shareholders have taken issue with Tesla’s director compensation, and the rise in shares pledged by executives as collateral for loans and other ventures, including those by Lonnie himself. It's only a matter of time until Elon dubs ISS the "Institutional Syndicate of Sh*theads." ☑️ Talk about luck… A Credit Suisse-led group of lenders won a court order to [liquidate]( assets held by the family of Luckin Chairman Lu Zhengyao. The money is held in the Cayman Islands, because of course it is, and the court of the Caymans said Primus Investments Fund and Mayer Investments Fund must liquidate their holdings. Both companies are controlled by Lu and his family. The lenders are seeking payback of $324M in outstanding debt from Luckin. Just because some of Luckin’s lenders will get their cash doesn't mean the Starbucks' competitor is in the clear. If you recall, on April 2, Luckin revealed that as much as [$310M]( of its 2019 sales had been faked, sending executives heading for the exits and sparking investigations by the US and China. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. 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