Oops!…They did it again, the StockDr & Team are back for another electric roundup discussing buzzworthy market and pop culture content hitting the news channels this week including a possible Bitcoin ETF and Brittney Spears' conservatorship battle. Special guest, Ryan Issakainen joined the Team this week to discuss all things ETFs and First Trust. Ryan is an ETF Strategist and Senior Vice President at First Trust portfolios. He's no stranger to the public, with appearances on CNBC, Fox Business, Bloomberg, the Wall Street Journal, Barron’s, and IBD, just to name drop a few.
Facebook closed with a $1 trillion market cap on Monday, a 100% increase from 4 years prior when they hit $500 million. Joining the prestigious trillion-dollar club with: Apple, Microsoft, Amazon, and Google.
Cathie Wood just might be the rocket fuel Millennials have been waiting for. She is readying a Bitcoin ETF to “launch to the moon” as Redditors would say (type?) If approved by the SEC, it will be the first crypto ETF in the United States.
The Millennial Moment Spotlight presented by our Mega-llennial, Nikki Ward tackled the Britney Spears conservatorship. Was Britney Spears secretly trying to tell us what she was going through with her song titles? Womanizer, Toxic, Criminal, and Circus are just a few of her songs and adjectives to describe the private battle Britney has been fighting for years. WTF were we doing to not see a woman constantly spotlighted in the media so dimmed in her personal life? Britney Spears described a rigidly circumscribed existence, the result of a conservatorship, placed when a court deemed her unfit. Since then, she dropped album's bi-yearly, had a successful 4-year Las Vegas residency and toured worldwide. Despite her accolades, her father & conservatee, James Spears limits Britney to $2,000 weekly allowance. As the steward of her nearly $60 million dollar fortune, James's salary is $192 thousand plus commission. James has prospered off the back of his imprisoned daughter while she can’t afford the right to carry her own credit card, vacation, access her phone, remove her IUD, or get married without her father’s permission. The typical celebrity entourage prospers by catering to the star’s every whim, in Spears’s case, the opposite is true. This supposed madwoman in the attic is supporting a cast of thousands as they make a mint by keeping their benefactor prisoner.
This week’s popular take-a-ways:
Brokerage firm Baird has thrown in the towel and stopped covering GameStop. They stated speculative trading made by retail investors made it too difficult to give reasonable recommendations. CCL shares fell after announcing they may sell as much as $500 million shares. This is a great representation of what dilution looks like. Honda reported that they wanted to be completely electric by 2040 & are partnering with GM. Analyst at UBS cut TSLA’s price target by 9.5% taking it from $730 to $660. Conflicting with the PT by UBS, Webush reiterated TSLA as a buy.
Stay in the loop by subscribing to The StockDr's Prescription email
This week’s meeting of the minds was brought to you by the Siler Wealth Management Team
