🐂 Bullish lives up to its name

Good evening. Yesterday’s inflation report was too good to ignore. Almost everyone is convinced the Fed will cut rates in September.

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎83.78% Bullish

IPO alert. After a failed SPAC attempt in 2021, crypto exchange operator Bullish finally made its public debut. Bullish caters to big institutional clients, processing an average of $2.6 billion in daily trades through its digital asset spot and derivatives exchange. [Read more]

⬆︎81.20% WEBTOON

🔔 Earnings report - The digital comics platform not only delivered remarkable results but also landed a major win: a multiyear partnership with Disney that will bring around 100 titles from Marvel, Star Wars, Disney Studios, and 20th Century Studios to Webtoon’s platform, including both beloved classics and brand-new originals. [Read more]

⬆︎36.74% Paramount Skydance

Another meme-stock. Paramount Skydance, the newly merged media group, is suddenly at the center of a meme-stock frenzy. The surge comes just days after sealing its merger and landing a $7.7 billion deal to broadcast UFC fights. With a relatively small number of shares available to trade and short interest running high, traders are piling in. [Read more]

⬆︎12.28% Capri Holdings

JPMorgan sees brighter days ahead for the parent of Michael Kors, Versace, and Jimmy Choo, upgrading the luxury group from Neutral to Overweight with a $30 price target, well above yesterday’s close of $19.62. The bank expects Michael Kors’ turnaround plan (which includes a 25% cut in product styles) to drive a successful recovery. [Read more]

⬆︎5.41% AMD

The fine print makes all the difference. Two days ago, reports surfaced that AMD agreed to give the U.S. government 15% of its AI GPU sales in China. It sounds dramatic, but today, a Citi analyst says it’s not a big deal: the cut only affects low-margin chips that barely move the needle on profits. [Read more]

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Market data: today’s market close

IN PARTNERSHIP WITH PACASO

From Italy to a Nasdaq Reservation

How do you follow record-setting success? Get stronger. Take Pacaso. Their real estate co-ownership tech set records in Paris and London in 2024. No surprise. Coldwell Banker says 40% of wealthy Americans plan to buy abroad within a year. So adding 10+ new international destinations, including three in Italy, is big. They even reserved the Nasdaq ticker PCSO.

Invest for $2.90/Share

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

LOSERS

⬇︎11.51% Instacart

A bigger grocery footprint could mean trouble. Amazon (which owns the Whole Foods Market chain) plans to expand its same-day grocery delivery from 1,000 to over 2,300 U.S. cities and towns by year-end, a move that could cut into the customer base of the leading on-demand grocery delivery platform. [Read more]

⬇︎16.63% Cava

🔔 Earnings report - Slow quarter for the fast-casual Mediterranean chain. Last year’s grilled steak launch had lifted sales during this period, but momentum faded since June. Cava has slashed its same-store sales outlook to 4%–6% as consumers think twice before splurging on those pricey bowls. [Read more]

⬇︎20.83% CoreWeave

🔔 Earnings report - Revenue has more than tripled and the backlog has swelled to $30 billion. So what’s the catch? Massive spending to expand its data center network, especially to secure enough power, has pushed CoreWeave’s debt to $8 billion at steep interest rates. For context, CoreWeave is an Nvidia-powered AI cloud provider. [Read more]

⬆︎⬇︎ 1-day change
Market data: today’s market close

EXTRA

THE END

That’s it for today’s recap. We hope you found it valuable.

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