🏬 How did Shopify crush earnings?

📉 Plus, Jamie Dimon says a recession is coming

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Will this wearable wellness company get acquired?

Our new author Jeff Briskin thinks so.

​Sensate​ is an innovative device designed to reduce stress and anxiety using infrasonic therapy.

It uses a combination of vibrations and sound to stimulate the vagus nerve and destress your nervous system in just 10 minutes.

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My prediction is that Sensate will be acquired...most likely by a larger high-tech wellness device company with a more diversified product line.

— Alts contributor Jeff Briskin

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:

📰 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

Forecasts via ​Kalshi​, the prediction market.

😱 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?

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📊 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.

Recommended Newsletter

🌍 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

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