Uber, but for Taxis

March 25, 2022 Good morning traders, Welcome back to The Daily Setup. Markets were up yesterday. Here’s what’s on the docket today: - Trading resumes in Russia after a month - Blackrock wants to get into crypto - Uber creates… taxis? Have a great weekend and we’ll see ya Monday. Nick How'd the markets look? Market Outlook LIQT Takes Its Licks Biggest Mover [Activision Blizzard, Inc. ]( Shares in the “clean technology” company LiqTech (LIQT) got absolutely curb-stomped on Thursday after a [less-than-stellar earnings report]( for FY 2021. LITQ fell nearly 37% during trading after citing reduced sales of liquid filters and water filtration systems and the classic fallback of “increased market volatility and inflation” for their piss-poor performance. Looks like the executives over at LIQT could use one of their products to filter out the bullsh*t. - Revenue came in at $18.3M, [-19% lower the year prior](. Losses went from $9.8M in 2020 to $11.1M in 2021… yeesh. - Their less than stellar performance has caused LIQT to adjust their revenue guidance from [$50M - $80M]( to $25M - $30M for 2022. While these numbers are pretty embarrassing, LIQT is not down-and-out just yet. In January, the company announced a [3-year $23M OEM membrane supply agreement]( with a European buyer. There’s still interest in their product, and perhaps if market volatility does subside things could even out. That being said, nothing is a guarantee but with the stock worth so little at the moment, it could warrant a buy if I was a believer in their business. Russia’s Stock Market is Back With a Whimper Street stories [Cycling Downhill] After spending nearly a month frozen in Siberia [the Russian stock market partially thawed out](, revealing suspiciously good numbers. Sure, the MOEX finished trading +4.37% up, with notable domestic stocks like Gazprom and Sberbank rising +13% and +3.9% respectively but that was the result of strict restrictions that helped fudge the numbers for Putin. Yeah, turns out that Russia’s central bank banned short-selling, and blocked foreign investors from selling their shares. [It’s a bold strategy](, Vlad, let’s see if it pays off for you. - Blocking foreigners from selling off their stocks really helped pad those percentages, especially when considering that [they make up 75% of freely traded shares]( in the RU economy. - The Russian Govt also revealed part of their continuing strategy, announcing that [they would spend $10B to purchase shares]( in the coming months. That sounds sustainable, right? While people likely weren’t investing in the Russian economy before, IMHO it’s even less prudent to do so now. Of course the writing was already on the wall and it was virtually impossible for MOEX to come out on top, save for the employment of the strategy we saw on Thursday. What this does indicate is that Russia is bound to further isolate itself from the global economy, scaring off foreign investment for years to come. The Institute of International Finance (IIF) puts it best when they say “this will wipe out fifteen years of economic growth.” Fink Pulls a 180 Token Talk [Token Talk] Buying up the nation’s housing stock must be getting tiresome, because Blackrock ([BLK]() is [getting into crypto]( according to CEO Larry Fink. Fink wrote in a letter to shareholders that the company will explore ways to offer clients access to cryptocurrencies. [Just last year]( ol Lare Bear said that BLK wasn’t seeing much demand from customers, which seems at odds with human nature of expressing interest in assets with a history of price appreciation. - Fink also said that the Russia/Ukraine war could [speed up crypto adoption](, so Blackrock’s timing is impeccable. War profiteering is a stinky cologne Larry. - This confirms earlier speculation that the $10T asset manager would offer crypto trading to customers. - The BLK interns are falling down on the job however, since there was no mention of the company launching an NFT exchange. As the company builds out its capabilities in the digital currency space, keep an eye on which tokens it initially offers trading for. BTC and ETH are most likely going to be in the first wave, but, in my opinion, any other tokens included will be a good indicator of which ones institutional investors think have the best prospects. Hear Me Out, It’s Uber but for Taxis Deals and Rumors [Deals and Rumors] [Uber]( will be integrating NYC taxis onto its app, becoming the very thing it set out to disrupt. This must be what Obi-Wan felt like when Anakin Skywalker joined the Sith instead of destroying them. The company will bring cabs onto the platform by [integrating the software]( of taxi hailing apps Curb and Creative Mobile Technologies. The market has a taste for delicious irony, because shares of Uber were up almost 5% on Thursday. - Bringing thousands of vehicles into the fold should help Uber in the near term as it has been struggling with a shortage of drivers during the pandemic. - For customers, the taxi option is estimated to cost roughly the equivalent of the UberX option. - Taxi drivers will be able to [see the Uber destination and fare]( upfront, allowing them to accept or decline the transaction, which is more information that Uber drivers receive. NYC is Uber’s largest market, and CEO Dara Khosrowshahi would like to integrate taxi capabilities worldwide. If the pilot program proves successful, it could be a major growth driver for UBER shares, so this is something to keep on your radar. Hopefully the company will be transparent about compensation data, as it will be interesting to see how Uber, the driver, the cab company, and Curb/Creative Mobile all whack up the fares. Link Roundup Other News Other News Link Roundup + Fire Up the Job Cannon - US Jobless Claims Lowest Since 1969 ([link]() + Apple Finds a New Way to Suck Your Wallet Dry - Developing a Hardware Subscription Service ([link]() + “Bad Oligarchs! Bad!” - Joe Biden - US to Sanction 300 More RU Nationals ([link]() + Here’s a bold idea: Let’s make a vehicle - Nikola Stock Gets a Jolt as Production begins on E-Truck ([link]() + Puff Puff Pass? - Pot Stocks Jump after Congress announces Legalization Vote ([link]() + Rocky Road - NIO beats estimates, but whiffs on Revenue Guidance ([link]() Meme of the day Hello sharks, [via @HighYield.Harry]( [other news] 62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email us here support@thedailysetup.com © Copyright 2022, [RagingBull]( - [Refund Policy]( - [Privacy Policy]( - [Terms & Conditions]( DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [(. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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