Everything from music to Subway franchises to avocados is getting securitized. Follow me down the rabbit hole.
Get your piece of the sun ☀️
With a cool new concept: Community Solar
Neighborhood Sun connects people to local solar farms for clean energy. It's a game-changer for those who have an electricity bill, but are unable to install solar panels (for example those who rent their home, or live in an apartment or condo, etc..)
They're raising $500,000 on WeFunder to expand their platform into new markets.
Why invest in Neighborhood Sun?
Obvious demand: Everyone wants to save money. Neighborhood Sun customers can save up to 30% on their electric bills.
Revenue growth: They've grown revenue 318% over the past 2 years building out the Sun Engine platform
Project growth: There are 134 community solar projects live on the platform
Sustainable impact: Neighborhood Sun is a Certified B Corp using business as a force for good.
Join Neighborhood Sun in making solar energy accessible to all.
It's better for your wallet, your planet, and your community.
📰 Market Headlines
Stocks fluttered northward yesterday as key inflation readings loom ahead.
The S&P 500 rose nearly 0.1%, while the Dow Jones edged up 0.1%. Meanwhile, the Nasdaq led the gains, rising 0.3%.
The personal consumption expenditures price index, a key inflation measure, is expected to show little to no monthly increase for May.
The NTSB sanctioned Boeing for revealing 737 MAX probe details, referring its conduct to the DOJ.
The Supreme Court blocked Purdue Pharma's $6 billion settlement, preventing the Sackler family's protection from future opioid lawsuits.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
Really? How?
📈 Trends you need to know
Name a successful mega-merger. I’ll wait.
🧠 What do you think?
After last night's debate, what's the most likely outcome?
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Walgreens stock fell 25% after missing Q3 earnings; EPS dropped 36.6%.
McCormick & Company beat Q2 EPS expectations; shares rose 2%.
Nike beat Q4 EPS estimates, but missed revenue expectations; shares rose 1.5%.
Acuity Brands’ Q3 net sales fell, however, shares climbed 4%.
American Outdoor Brands’ Q1 CY2024 revenue rose 9.7%, pushing shares up 2.56%.
Market movers
Uber and Lyft announced they will pay drivers $32.50 per hour in Massachusetts. The settlement includes benefits and resolves wage law violations.
Hebbia raised nearly $100 million in a Series B led by Andreessen Horowitz at a $700-800 million valuation for its AI document search tool.
A jury ruled that the NFL violated antitrust laws with its Sunday Ticket service and awarded $4.7 billion in damages. That’s thousands of $$ per household.
The California Legislature approved bills to amend a law allowing workers to sue employers over labor violations.
Ideas, trends, and analysis
Pending home sales hit an all-time low in May, with the index falling 2.1% from April and 6.6% year-over-year.
The Congressional Budget Office raised its 2024 deficit estimate by 27% to $1.9 trillion, reducing median household income by $7,500 annually over the next 30 years.
Continuing applications for unemployment benefits reached 1.84 million last week, the highest since November 2021.
🌍 Global Perspectives
🇧🇴 Bolivian authorities announced 17 arrests, including military personnel, after a failed coup attempt during the economic crisis.
🇮🇱🇵🇸 Israel stormed a neighborhood in Gaza City, ordering Palestinians to move south, and bombed the city of Rafah.
🇨🇳 China has expelled two former defense ministers from the Communist Party over corruption accusations likely leading to life sentences.
🇧🇷 Brazil's economy created 131,811 formal jobs in May, the worst for any May since 2020.
📊 Crypto
Bitcoin endured its sixth major correction since the FTX collapse, dropping nearly 20%.
Coinbase sued the SEC and FDIC for internal records on their approaches to crypto regulation.
Marathon Digital mined $16 million worth of Kaspa tokens since September, diversifying from Bitcoin.
Crypto losses from hacks and rug pulls doubled to $572 million in Q2 2024, with CeFi being the main target.
🧠 Errata
A Florida family sued NASA after space junk from the ISS crashed through their roof.
A rare comet with a 69-year orbit, last seen in 1956, is set to approach Earth again.
A giant sinkhole swallowed up the center of a soccer field.
📺 What to Watch Today
WTF?
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
