Ever wanted to invest in the middle of nowhere? Check out our two-part series on the five continental points of inaccessibility:
Will this wearable wellness company get acquired?
Our new author Jeff Briskin thinks so.
It uses a combination of vibrations and sound to stimulate the vagus nerve and destress your nervous system in just 10 minutes.
From Jeff's analysis::
My prediction is that Sensate will be acquired...most likely by a larger high-tech wellness device company with a more diversified product line.
Why you should consider investing in Sensate:
Patented: Sensate stands out with its patented product utilizing infrasonic therapy
High demand: Sensate has 50,000 users, who have logged over sixty million minutes of use, or about 1,200 minutes per user. They've generated $15 million in revenue.
Primed for an acquisition: The wearable wellness market is growing by 13.8%/year, and is expected to hit $69 billion by 2028. Lots of room for M&A.
Learn more:
Read our deep-dive analysis
Questions? Start here 👇
📰 Market Headlines
Wall Street's rebound fizzled as stocks reversed early gains and slid into the close, erasing Tuesday's progress.
The Nasdaq led losses with a 1.1% drop, while the S&P 500 fell 0.8% and the Dow shed 0.6%, or nearly 250 points.
A weak Treasury auction pushed 10-year yields up 8.2 basis points to 3.97%.
JPMorgan CEO Jamie Dimon said the US is "not at all" in a recession but warned the odds of one coming are more likely than not.
Costco announced plans to crack down on membership sharing, requiring customers to scan their card upon entering.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“Yes, but it does increase our national debt as money as the funds come from the US Treasury. So there is a price to pay.”
📈 Trends you need to know
Mortgage rates are ticking down, anticipating up to a full-point rate cut in 2024.
🧠 What do you think?
Right now is the right time to
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Occidental Petroleum beat Q2 profit estimates, lifting shares 1.1%.
Shopify reported Q2 revenue growth of 21%; shares rose 18.4%.
Sony rose 1.8% desipite PS5 sales missing targets.
Robinhood’s Q2 revenue surged 40%, boosting shares 2%.
Disney topped Q3 estimates as streaming profits offset US park pressures; stocks dropped 4.5%.
Dutch Bros beat Q2 earnings estimates but weak guidance sank shares 13.79%.
Lyft swung to a surprise Q2 profit, but weak guidance dropped shares 17.2%.
Market movers
Tesla partnered with Sunrun to expand its energy business in Texas, aiming to build "virtual power plants."
Mars considered acquiring Kellanova for $31 billion. It’s likely to clear antitrust due to minimal product overlap.
Nike's website visits surged during the Olympics, outperforming Adidas and Puma.
Disney might pay up to $5 billion more to buy Comcast's 33% stake in Hulu, pending arbitration.
UK regulators cleared HPE's $14 billion acquisition of Juniper Networks after EU approval.
Ideas, trends, and analysis
US corporate bond issuance surged with 17 issuers, including Meta's $10.5 billion offering.
The yen dropped 2.5% after BOJ officials downplayed near-term rate hikes.
US 30-year mortgage rates fell to 6.55%, the lowest in 15 months, as markets anticipated Fed rate cuts.
Gold rose above $2,400, ending a four-day losing streak due to market volatility and geopolitical tensions.
🌍 Global Perspectives
🇹🇭 Thailand's Constitutional Court dissolved the Move Forward party, which won the most seats in 2023.
🇲🇩 Moldova rejected registration of a pro-Russian bloc led by a fugitive business magnate convicted of fraud.
🇯🇵 Western ambassadors pulled out of Nagasaki's atomic bombing memorial as Israel wasn't invited over protest concerns.
🇺🇸 A US judge dismissed most of Mexico's $10-billion lawsuit against US gun manufacturers over firearms trafficking.
🇷🇺 🇺🇦 Putin accused Ukraine of a "large-scale provocation" in Russia's Kursk region.
📊 Crypto
Bloody Sunday
Bitcoin fell below $50,000 as "Magnificent Seven" tech stocks lost $650 billion in market cap.
Ripple's SEC lawsuit ended with a $125 million fine, boosting XRP 18% to $0.61.
Hong Kong's Mox Bank added Bitcoin and Ethereum ETFs, along with plans for direct crypto investing.
Ethereum ETFs registered $147.2 million in inflows over two days, led by BlackRock's ETHA with $110 million.
🧠 Errata
Titan submersible victim's estate sued for over $50 million in wrongful death damages.
NASA astronauts might hitch a space taxi home due to Starliner issues.
Great Barrier Reef water hit scorching highs, flirting with a coral catastrophe.
NASA urges stargazers to flee cities for prime Perseid viewing this weekend.
A Tulsa dog sparked a house fire by gnawing on a lithium battery.
📺 What to Watch Today
What’s his name? Bolt?
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
