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- 🔐 Companies With The Most Bitcoin
🔐 Companies With The Most Bitcoin
1) Who Owns The Most Bitcoin? 2) The Rise of Hims, 3) Growing Dividends and more!
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Some key data bites from this week that you should know:
Nvidia $NVDA made up $0.25 of every dollar of premium traded in U.S. single-stock options in the last month.
The Core PCE Index rose 2.8% year-over-year in January.
Bumble $BMBL is set to cut 30% of its workforce.
Zoom $ZM beat analyst estimates for Q4 and authorized a $1.5B buyback.
The FTC has sued to block the $25B merger between Kroger $KR and Albertsons $ACI.
Uber $UBER CEO to earn $136M after the company reached $120B market cap.
Macy’s $M is set to close 150 stores, or roughly 30% of its locations.
In today’s newsletter:
🔐 Who Owns The Most Bitcoin?
💊 The Rise of Hims
💸 Growing Dividends
Let’s dive right in!
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🔐 Who Owns The Most Bitcoin?
Bitcoin has kicked off the year with an incredible rally, climbing nearly +40% YTD.
Among the biggest cheerleaders? Probably MicroStrategy and its Chairman, Michael Saylor.
MicroStrategy's commitment to Bitcoin is clear, with BitcoinTreasuries reporting the company's stash at 193,000 Bitcoins.
And despite having nearly $12B in the crypto, their bullish stance doesn't show any signs of slowing down.
The company recently purchased an additional 3,000 Bitcoins for about $155M on Monday.
The company leads the pack in owning the most Bitcoin out of all publicly traded companies.
This week, Bitcoin's ride was notably turbulent, briefly touching the $64,000 mark, which even led to technical difficulties on Coinbase.
CEO Brian Armstrong noted that the platform experienced traffic more than 10x what they had anticipated and prepared for in their load tests.
💊 The Rise of Hims
Hims & Hers Health, a leading provider of treatments for erectile dysfunction and hair loss, saw its stock jump over 30% following a strong Q4 2023 earnings report.
The company reported a 47% increase in revenue year-over-year, reaching $246.6M for the quarter, with net income hitting $1.2M.
Subscriptions are also on the rise, now totaling 1.54M—a 48% increase from the previous year.
Adding to the excitement, CEO Andrew Dudum has projected that the company will surpass $1B in revenue and achieve its first full year of net income profitability, signaling strong growth and financial health ahead.
💸 Growing Dividends
This week was buzzing with dividend news.
Following Domino’s Q4 2023 earnings, the company announced a whopping 25% increase in their quarterly dividend to $1.51 per share.
A surprise dividend came from tech giant Salesforce, which initiated a quarterly dividend of $0.40 per share when they shared their Q4 earnings report.
While many investors often chase high-yield dividend stocks, dividend growth stocks can be just as appealing.
High-yield stocks might offer immediate income, but dividend growth stocks offer the incentive of increasing payouts and price appreciation, catering to investors looking for a blend of income and growth in their portfolios.
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🍔 Dynamic Pricing. Wendy’s $WEN claims they have no plans to price surge their menu - R
⚡️ iCancel. Apple $AAPL will be cancelling its effort to build an electric vehicle - BB
❄️ CEO Stepdown. Snowflake $SNOW shares declined after news that CEO Frank Slootman will be retiring - CNBC
💵 Updated Valuation. Stripe is valued at $64B in its latest employee stock-sale deal - FT
Notable Companies Reporting Earnings Next Week:
Monday (3/4):
Sea Limited $SE, GitLab $GTLB
Tuesday (3/5):
CrowdStrike $CRWD, Target $TGT, Ross Stores $ROST, NIO $NIO
Wednesday (3/6):
JD $JD, Campbell Soup $CPB
Thursday (3/7):
Broadcom $AVGO, Costco $COST, Marvell Technology $MRVL, Kroger $KR, MongoDB $MDB
Friday (3/8):
Algonquin Power & Utilities $AQN
All of the companies that are reporting earnings next week can be viewed here.
Major Trades Published 02/23 - 02/29
Buys
Maplebear ($CART)
Insider: Ravi Gupta (Director)
# of Shares Purchased: 135,072
$ Amount: $4,043,286
SEC Forms: [1]
Sphere Entertainment ($SPHR)
Insider: James Dolan (Executive Chairman / CEO)
# of Shares Purchased: 59,374
$ Amount: $2,441,017
SEC Forms: [1]
Enphase Energy ($ENPH)
Insider: Badrinarayanan Kothandaraman (President & CEO)
# of Shares Purchased: 4,000
$ Amount: $482,154
SEC Forms: [1]
Sells
Walmart ($WMT)
Insider: Robson Walton (Director)
# of Shares Sold: 4,895,109
$ Amount: $860,779,882
SEC Forms: [1]
Transdigm ($TDG)
Insider: Robert Small (Director)
# of Shares Sold: 253,890
$ Amount: $294,639,345
SEC Forms: [1]
Nvidia ($NVDA)
Insider: Harvey Jones (Director)
# of Shares Sold: 65,000
$ Amount: $53,031,712
SEC Forms: [1]
Coinbase ($COIN)
Insider: Brian Armstrong (Chairman and CEO)
# of Shares Sold: 250,000
$ Amount: $51,331,628
SEC Forms: [1]
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