💸 Billionaire Blunder Will Keep This Asset Class Down for Months...

Good morning. The past few years has seen the rise of SPACs, or special purpose acquisition.. It’s the monthly jobs numbers today and they’re not going to be pretty and will be possibly the tip of the iceberg as we head into May. [Trading Tips] Good morning. The past few years has seen the rise of SPACs, or special purpose acquisition companies. These firms simply offer a way for companies to go public by merging with the SPAC shell corporation. It’s a more efficient way of going public, and has been good for companies such as Virgin Galactic (SPCE) and DraftKings (DKNG). Investors got overly enthusiastic about the space, however, driving the price of a shell company worth $10 to as high as $15 or $20 in some cases before prices started cratering in February. Now, billionaire Bill Ackman, who launched a SPAC late last year, has announced a potential $40 billion deal to take Universal Music public. The market hated the news, given the highly complicated nature of the deal, sending shares of the SPAC name well under their cash value, and likely scaring off a potential rebound in SPAC names for months to come. Now here's the rest of the news: Sponsored Content [Jeff Bezos Just Plowed $10 Billion Into THIS...]( Bezos is at it again, and this time he’s shelling out a massive $10 billion bet into this tiny industry experts are calling the “New Megatrend of 2021”. [Find out why investors all over the country are following Bezos lead to relish potential riches by July 4th.]( MARKETS DOW 34,756.39 +0.52% S&P 4,229.89 +0.88% NASDAQ 13,814.49 +1.47% *As of market close • Stocks roared higher on Friday, following a mixed jobs report. • Oil rallied 0.8 percent, with a barrel of crude last going for $69.37. • Gold rose 1.1 percent, hitting $1,894 per ounce. • Cryptocurrencies generally dropped, with Bitcoin going into the weekend at $37,229. Today’s TOP TIPS [Some Big Tech Names May Be Bordering on Value Plays]( For years, investors have piled into big tech names, like the FANG stocks. Even with the recent weakness in the sector, however, some still see some value in these giant names, which dominate the list of trillion-dollar-plus companies. That includes other industry-dominating mega-cap companies as well. One value manager sees a number of opportunities in these names today, citing continued growth potential and healthy profit margins. » [FULL STORY]( [Insider Trading Report: comScore Inc (SCOR)]( Irwin Gotlieb, a director at comScore Inc (SCOR), recently picked up 100,000 shares. The buy increased his stake by 115 percent, and came to a total purchase price of $397,000. This is the second buy from insiders in recent months, following a 200,000 share purchase from another insider back in March. Over the past three year, insiders have been more likely to buy then sell, but have mostly clustered their buys in 2018 and 2019. » [FULL STORY]( [Unusual Options Activity: QuantumScape (QS)]( Shares of experimental battery maker QuantumScape (QS) have surged higher in recent sessions. While the move may just be part of a trend of retail investor favorites moving higher, one trader sees the opportunity for shares to jump much higher in the coming weeks. That’s based on the June 25th $40 calls. With 18 days on the clock, over 7,040 contracts traded against an open interest of 329 contracts, for a 21-fold rise in volume. » [FULL STORY]( IN OTHER NEWS • [Stock-Picking Legend Leaks Secret Stock (Trades for Less Than $5)]( One of the world's great stock pickers just did something crazy. He went onstage and outed a [secret stock]( that trades under a hidden name. [See the “leaked” footage here.]( Now, keep in mind... this stock picker is legendary for his big trades. He personally bought Apple in the '90s, when NOBODY thought Apple was going anywhere... and still holds every share. He bought Amazon in the early 2000s... and still holds every share. He even bought Netflix THIRTEEN years ago... and still holds every share. I've looked through his personal trading records... and let me assure you, it's absurd how much he made on these trades. But now he's done something I never thought I'd see. [(Live camera footage here.)]( He's outed a secret stock - trading for less than $5 - that he says is the next big score. [Click HERE to see the details for yourself.]( (Clicking this link will opt you in to the Liberty Through Wealth free e-letter and offers from us and our affiliates that we think might interest you. - [Privacy Policy](.) • [Jobs Data Comes in Mixed]( Hiring numbers improved in May, with a total of 559,000 jobs added. That reduced the unemployment rate from 6.1 percent in April to 5.8 percent. However, the data also suggests that employers are struggling to fill openings, as the numbers lagged the 785,000 jobs added in March. All in all, this points to a slow recovery, which will also likely mean central banks will continue to support the economy. • [Global Food Prices Up 40% Year-Over-Year]( JBS, a company responsible for a sizeable amount of the country’s beef production, has had nine of its facilities shut down following a cyberattack. The company restarted operations Wednesday, following a two-day shutdown. The company has not disclosed if it has paid any ransom or met the hacker’s demands. • [Tourism Gets a Lucky Break in Sin City]( Last year’s pandemic hit Las Vegas particularly hard. With travel and tourism down, and lowered demand for in-person gaming, the city was nearly shut down. Now, that’s reversing as pandemic lockdowns end. Tourism and travel to the city is on the rise, and the city is pushing for a return to normal over the next few months. • [DOJ Warns Company CEOs on Ransomware Attacks]( Deputy Attorney General Lisa Monaco is warnings company CEOs that the rise in ransomware attacks is likely far from over. The attacks are being carried out by foreign nations and criminal groups, and have already led to some high-profile shutdowns in recent weeks affecting oil pipelines and beef production, among others. • [Facebook Upholds Trump Ban for Two Years]( In January, Facebook (FB) banned President Trump indefinitely from its platform. The Facebook Oversight Board determined that a more specific clarification was needed. So the company decided to put a two-year ban, the maximum under its current policies. However, the company is also free to extend that ban indefinitely when the time comes. S&P 500 MOVERS TOP ZM 5.326% BIIB 4.986% TSLA 5.575% IPGP 4.025 LULU 3.832% BOTTOM OGN 7.703% MOS 3.611% MAC 2.904% AAL 2.527% TRIP 2.366% Quote of the Day Between those two transactions we raised over $800 million of cash, not to line my pocket or anybody who works at AMC, but to put that money in the treasury of AMC to strengthen AMC and let AMC do more good things, to grow the company. That single act of diluting shares saved the company and made the company a stronger company. - Adam Aron, CEO of AMC Entertainment, on why the company’s repeated capital raises have saved the company by providing over $1.6 billion in cash on hand while also allowing the firm to pay down debt, and why the company is looking to potentially issue another 25 million shares. Sponsored Content [Jeff Bezos Just Plowed $10 Billion Into THIS...]( Bezos is at it again, and this time he’s shelling out a massive $10 billion bet into this tiny industry experts are calling the “New Megatrend of 2021”. 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