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Advertisement March 23, 2022 Good morning traders, Welcome back to The Daily Setup. Markets were up yesterday. Here’s what’s on the docket today: - Gamestop sees gains - Evergrande needs some cash - Alphabet’s SandboxAQ is flying the nest Nick How'd the markets look? Market Outlook Return of the Moon Apes Biggest Mover [Activision Blizzard, Inc. ]( [GME $123.14 (▲30.86%) GameStop Corp. | Google Finance]( The [Reddit apes are back]( and they’re coming for Gamestop again. Shares of GME were up 30% during trading and jumped another 16% after hours after it was announced that [Ryan Cohen bought 100k more shares](. According to research firms that track WallStreetBets mentions (yes, those actually exist) GME was mentioned more than 400 times during trading and there was a surge in out of the money call buying (just don’t ask us to repeat what the subreddit calls were). - Short interest in Gamestop is currently hovering around 18%, well below levels that caused the initial short squeeze but still sizable enough to keep an eye on. - But this time GME actually has some fundamentals [contributing to the story](, as Q4 revenue beat estimates by two percentage points and grew 6%. - Enthusiasm driven momentum could trigger some FOMO as well, so this rocket may still have some fuel. Gamestop’s [shareholder makeup is quite interesting](, with only 27% of shares owned by institutions and 56% held by individual investors. With such a large block held by individuals, if the apes hivemind and simply hold their shares, more gamma squeezes could be on tap. Company insider Ryan Cohen owns over 12% of shares, and index fund giant Vanguard owns almost 8%, so there just may not be enough float to go around in the near term, providing another upside catalyst. A Ground Floor Opportunity Street Stories [Cycling Downhill] Stop me if you’ve heard this one before, but a real estate developer is looking for fresh capital after a default, but is still excited about its projects. Chinese firm Evergrande is running the institutional real estate playbook and trying to find a fresh crop of suckers investors after [banks seized $2B from a subsidiary](. Not to worry though, the company said construction has resumed on 80% of current projects and 353 additional projects have been added to the pipeline in 2022. How reassuring. - This “major incident” came to light during the restructuring talks Evergrande has been holding with creditors for the past few months, ever since the initial default announcement. - The $2B represents almost the entirety of the 14B yuan of cash and bank deposits the Evergrande subsidiary in question reported in Q2 2021, which doesn’t seem ideal. - The company also warned that there may be additional pledges among related entities that could reduce funds available for creditors to recover, but have no fear because they will [unveil a debt restructuring proposal]( by the end of July. George Strait warned us about the dangers of commercial real estate speculation when he sang about [Ocean Front Property]( in Arizona but perhaps he should add a new verse about Class A office space in Shenzhen. There are probably former Enron employees blown away at the hidden liabilities in Chinese real estate firms. This entire sector should probably be treated like Russian equities these days. Advertisement Get your FREE LMNT Sample Pack TODAY! Active traders leading active lifestyles need a hydration and electrolyte replenishment strategy. When you sweat, either from a long run or an options collar strategy gone south, you can lose sodium, up to 7 grams a day leading to cramps and fatigue. [LMNT]( (pronounced "Element") is an electrolyte drink mix that aims to get you back to peak performance with none of the junk that drags you down. No sugar, no gluten, nothing artificial, no-nonsense. With 1000 mg of sodium, 200 mg of potassium, and 60 mg of magnesium, LMNT is the right mix for high-energy traders and athletes, and works with keto, paleo, and low-carb lifestyles. [Trading may be risky but trying LMNT isn’t risky for your wallet. LMNT is so sure you will love their product and come back for more they are offering you a free LMNT Sample Pack.]( That’s 8 single serving packets FREE - Just cover the cost of shipping ($5 for US customers). [GET YOUR FREE DRINKS TODAY!]( This is an advertisement by a party that is unaffiliated with Raging Bull. Raging Bull does not in any manner recommend or endorse any product, service or statement that is the subject of this advertisement. Coincheck Brings Back the SPAC Token Talk [Token Talk] You may have thought that the reign of the SPAC merger had gone extinct in 2022, but Japanese digital asset marketplace [Coincheck]( is rejecting that reality. Taking a page out of Jurassic Park, the exchange service is resurrecting the IPO strategy, but instead of merging Dinosaur and Frog DNA, they’ll be combining themselves with Special Acquisition Company [Thunder Bridge Capital Partners IV](. In a year where market volatility and inflation have been off the chain, it begs the question: were they so preoccupied with whether or not they could, [did they stop to think if they should](? - Shares in Thunder Bridge Capital Partners IV (THCPU) were up +1% at the end of day Tuesday, while shares in Coincheck parent Monex Group grew +2.61% in Tokyo trading. - The deal is valued at [$1.25B]( and is expected to close by end of year 2022, with Coincheck being listed on the Nasdaq as CNCK. Monex will own 82% of the combined company. Domestic SPACs and IPOs may be in a bit of a rut domestically in the US but there’s a slightly different sentiment overseas. Hong Kong just had their first SPAC success story in [Aquila](, and with nine similar deals in the pipeline it seems the trend is likely to continue. The age of the SPAC may have concluded (for now) in the US but if you’re seeking some juicy IPOs, Coincheck might be an indicator to turn my eyes towards Asia. SandboxAQ to Find a New Playground Deals and Rumors [Deals and Rumors] There comes a time in the life of a parent company when they must let their kids to spin off and find their own path. Such is the case with Alphabet’s quantum computing software venture, SandboxAQ who [announced on Tuesday]( that it would be leaving the nest to start its own company. Sandbox fell under the Alphabet umbrella in 2016 but news had been quiet up until now as they have begun to detail their strategy as an independent venture. Alphabet reportedly packed them lunch and warned Sandbox to “be careful of strangers offering you startup capital”. - SandboxAQ CEO Jack Hidary claims that the company had raised investor funds in the “[nine figures](” range. Notable investors include: Breyer Capital, TIME Ventures, and former Google CEO Eric Schmidt (who is to become chairman of the board). - Hidary disclosed that Sandbox sees its software having broad implications in the [cybersecurity, drug development, and clean energy]( sectors. Their current clientele includes: Softbank Mobile, Vodafone, Mount Sinai Health Systems. We all know how big of a deal cloud-computing has become in the tech market and there’s a good chance that the same will happen in the realm of quantum computing. While SandboxAQ is not responsible for the design of quantum computers themselves they are positioned to be leaders in the realm of quantum software, bridging the gap between the hardware and its use cases. The technology is still costly and inefficient but this play shows signs that things will be heating up and it's certainly an industry to keep watching. Link Roundup Other News Other News Link Roundup + Vlad has a new weapon - Robinhood to launch debit card ([link]() + Will it be named “Baggage”? - Match Group has a new dating app for single parents ([link]() + The best news for British Steel since Rob Halford came back to Judas Priest - U.S. and UK nearing deal to repeal tariffs ([link]() + Maybe next they can fix instant replay - NFL to allow blockchain sponsorships ([link]() + Will you two just f@ck already? - Elon and the SEC fighting over tweets again ([link]() Meme Of The Day Who else is enjoying their lentils? [Via @wallstmemes]( [other news] 62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email our team here support@thedailysetup.com © Copyright 2022, [RagingBull]( - [Refund Policy]( - [Privacy Policy]( - [Terms & Conditions]( SPONSORED AD PLACEMENT: This email contains an advertisement by a party that is unaffiliated with Raging Bull. 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