[The Daily Peel... ]( Apr 05, 2023 | Peel #434 Silver banana goes to... [Techvestor. ]() Market Snapshot Happy Wednesday, apes. Well, markets continued to do what theyâve done for almost a full year now during yesterdayâs session â bore the sh*t out of u- I mean, move sideways but mostly down. Equities had a rocky day with a few of the enormous tech lifeboats like Amazon, Alphabet, and Google putting in all the work to make sure your portfolio didnât suffer too much. Markets appear to be gearing up for the next major catalyst, set to print on Friday when we take a peak at the March jobs report. Stay tuned. Meanwhile, of course, treasuries continued to give us the olâ razzle-dazzle while the U.S. Dollar sank below 101.5 in the DXY. 2-year treasuries finished the day staunchly below 3.9% as the notes continued to trade wildly amid a wild backdrop. Letâs get into it. Passively Invest in Short-Term Rentals (like AirBnbs) [image]() Techvestor makes passively investing in short-term rentals EASY. Invest in a diversified portfolio of short-term rentals across the U.S for as little as $25k. You invest, we do the rest. What you'll get: - 8%+ Annual Cashflow
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- You can stay in any of our 100+ properties as a perk! [Speak with our Investor Relations team]() *All numbers are projected and at the deal level. They are not an indicator of future performance. Banana Bits - Not to get political, but letâs get political as a certain former President was [engaged in a certain thing]() yesterday (was that unbiased enough??)
- There was a big scare for depositors there for a while, but execs at Signature Bank [had the bag secured]() the whole time
- In just about every currency not called the U.S. Dollar, gold has reached new all-time highsâ¦this [same accolade in USD]() could be coming soon
- Jamie Dimon continues his pursuit to literally be Warren Buffett in dropping his latest [annual letter to shareholders]() with a whole lot of opinions on a whole lot of stuff Macro Monkey Says Just Chill The absolute mayhem in financial conditions and markets experienced over a few weeks or even days last month certainly spooked investors. But, apparently, so did others, too. Yesterday, the Commerce Department reported the latest figures on factory orders and, all too similar to the data reported yesterday, did not make us feel good about the economy. To be clear, when considering factory orders as a reflection of the overall economy, it has more lag than trying to play Smash on a 3G network. In February (yes, February), new factory orders declined 0.7% after declining by a revised 2.1% in January. Itâs less of a decline than we started with this year, but call us when this starts moving in the right direction. As the name implies, orders for new [insert anything that gets manufactured] have fallen off hard this year, showing clear signs of a weakening production backlog. Meanwhile, other data released yesterday joined hands with new factory orders and further suggested a present decline in activity. JOLTS reports from yesterday show that, for the first time in two years, there are less than 10mn open jobs in the United States right now. Clocking in at 9.93mn, available positions havenât been this scarce since May 2021. Rumors say that JPow is currently snorting coke off a toilet seat in celebration. To sweeten the pot even more, the ratio of open positions to unemployed workers has been hovering right around 2.0 for much of the last few years. With these latest figures, that reading falls to around 1.68, forcing JPow to rip another line. Sure, both of these metrics would suggest slowing growth and usually imply no-good, very-bad news for an economy, but Powell and the FOMCâs goal has explicitly been exactly for this: to slow down demand, especially for goods and, most of all, labor. A decrease in labor demand typically precedes a decrease in labor cost (aka wage) growth as demand for that labor declines. In case you live under a thousand rocks, you know that wage-push inflation has been a, if not the primary driver of cost pressures over this past year, so to someone like JPow fighting the good fight against inflation, this is as good as it gets. And itâs clear the market sees this too. Rate hike expectations for the Fedâs May meeting flipped a switch, with odds of a no-hike outcome going from ~42% yesterday up to nearly 60% at the time of writing. To Mr. Market, rate hikes are kind of like homework; they make him have to work harder and honestly just overall kill the vibe. So, the fewer of those there are, the happier Mr. Market is. But hey, with a whole month before that next potential move in rates, literally anything from an earthquake to an alien invasion could occur, and we wouldnât be even mildly surprised. Letâs see how this plays out. What's Ripe AMC Entertainment ($APE) â 13.51% â - You are currently looking at the only company in the world so fake and so f*cked that itâs probably the one single company that could have one tranche of shares gain 13.5% while another loses 23.5%.
- But thatâs what happened yesterday. Basically, the company was able to reach a settlement (somehow) to convert its preferred shares, traded under the ticker $APE, into common equity and dilute the sh*t out of themselves.
- As a result, analysts now expect the prices of each share class to converge until $APE becomes normal $AMC. So, the only question is, you buying? Butterfly Network ($BFLY) â 21.39% â - The maker of high-tech ultrasound technology exploded on a big thumbs up from the Food and Drug Administration, the agency that just okayed the companyâs AI-powered tool for assessing lung health.
- Iâm not even gonna try to explain what an Auto B-Line Counter is (because I donât get it), but apparently, itâs faster and more accurate at detecting lung conditions, according to recent studies.
- Shares traded well over 3x their normal volume on the day, and Iâm sure you can guess what direction that was heading in. What's Rotten C3.ai ($AI) â 26.34% â - It mightâve been as bad as the Hindenburg, but damn did C3.ai really come down in flames yesterday.
- As the forerunner of the current AI hype cycle among publicly traded equities, shares have ripped well over 120% already just this year. But, according to short-selling firm Kerrisdale Capital, itâs all bullsh*t.
- Shares absolutely tanked more than 1/4th of Mondayâs closing value as Kerrisdale alleges drastic accounting flaws in the companyâs financial statements, according to a letter sent from the Wall Street villains to C3.aiâs auditors (Deloitte).
- This isnât the start of the beef either. Back in March, the same short-sellers published an admonishing report of C3.aiâs fundamentals, claiming that âall signs point to further weakeningâ¦.â But hey, with a stock ticker like $AI in 2023, the artificial intelligence provider ainât losing out too much. Virgin Orbit ($VORB) â 23.20% â - Props to Virgin Orbit for literally going bankrupt and still performing better this week than C3.ai did yesterday alone.
- But thatâs about all the props the company can afford for now. Virgin Orbit, billionaire Richard Bransonâs satellite launch company, filed for Chapter 11 bankruptcy yesterday. To be fair, that ainât as bad a Chapter 7 bankruptcy, where a company officially pulls the trigger on itself, but itâs def not bullish.
- Virgin Orbit is also justâ¦weird. I mean, their satellite launch strategy is to strap that satellite to basically a Boeing 747 and launch them at high altitudes. Iâm no scientist, in case that wasnât obvious, but maybe being special and different like that isnât as chill when rates are at 5%. Thought Banana Finland is In-Land 74 years ago yesterday, the North Atlantic Treaty Organization, aka NATO, was formed in the aftermath of WWII and preceding the Cold War. Then, there were 12 founding member nations. As of yesterday, there are now 31. Thatâs because yesterday, Finland officially joined the Western military alliance, adding roughly 832 miles to NATOâs combined border with Russia. Wait, speaking of Russia⦠On December 26, 1991, the Soviet Union officially collapsed as the âSupreme Sovietâ of the country declared the nation dissolved. Since then, a whole lot has changed. Specifically, what has changed is that NATO and the newly re-formed Russia went from not trusting each other to wanting to see each other SHIFT+DLTâd from the map. Several treaties and other agreements were signed in the few decades since, with one of them being a commitment from NATO to Russia about expanding ânot one inch eastward.â 33 years after that phrase was coined, itâs clear that was complete cap, and Finlandâs recent addition to the militaristic group chat is the biggest move yet. Prior even to NATOâs formation, the cold yet apparently [very happy]() country was permitted to maintain strategic non-alignment with really anyone. In a major blow to Russia and its current aspirations, Finland forever severed that stance in yesterdayâs historic addition to the military alliance. But of course, Russia isnât gonna take a flex this fat lying down. So far, the worldâs geographically largest nation has simply vowed âcountermeasures,â but given how the countryâs invasion of Ukraine has played out so far, that doesnât exactly narrow it down too much. Regardless, the odds of any kind of lethal âcountermeasuresâ on NATO soil, no matter how new the membership is, remains extremely low thanks to Article 5 of NATOâs defense clause, which states that an attack on one member is an attack on all and acts as a guarantee of alliance-wide (but mostly American) support in the conflict is certain. Allegedly, Sweden will officially be following its northern European neighbor into NATO soon, but as theyâre separated from Russia by, well, Finland, itâs a far less urgent matterâ¦given Russiaâs recent behavior with neighboring countries⦠The big question: How will Finlandâs addition to NATO shift the outcome of the war in Ukraine and impact geopolitics in the years to come? Will Finlandâs giant love and commitment to its military (including mandatory conscription for men) make a significant impact on NATOâs collective strength? Banana Brain Teaser Yesterday â Looks like water, but itâs heat. Sits on sand, and lays on concrete. People have been known to follow it everywhere. But it gets them no place, and all they can do is stare. What is it? A mirage. Today â Itâs 150 bananas off the [Private Equity Master Package]( for the first 3 correct respondents. LFG! I repeat only the last word you say. The more I repeat, the softer I get. I cannot be seen but can be heard. What am I? Shoot us your guesses at [vyomesh@wallstreetoasis.com](mailto:vyomesh@wallstreetoasis.com?subject=Banana%20Brain%20Teaser) with the subject line âBanana Brain Teaserâ or simply [click here to reply!](mailto:vyomesh@wallstreetoasis.com?subject=Banana%20Brain%20Teaser) Wise Investor Says âGeopolitics is the study of how geography, politics, and economics interact to shape the fate of nations and peoples. As an investor, itâs essential to keep a keen eye on geopolitical developments, as they can have a profound impact on the markets and the global economy.â â Ian Bremmer How would you rate todayâs Peel? [All the bananas]( [Decent]() [Rotten AF]() Happy Investing, Patrick & The Daily Peel Team Was this email forwarded to you? Sign up for the WSO Daily Peel [here](). [ADVERTISE]( // [WSO ALPHA]( // [COURSES](=) // [LEGAL](=) Don't want The Daily Peel? [Unsubscribe here](=). Click to [Unsubscribe]( from ALL WSO content IB Oasis Corp. (aka "Wall Street Oasis")
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