All posts by Todd Mitchell

Coinbase revenue tripled from last quarter as crypto prices skyrocketed

bitcoin

Coinbase shares were up about 3% in after-hours trading Thursday, after reporting that revenue and net income skyrocketed in the first quarter of 2021 as the cryptocurrency trading platform capitalized on a boom in crypto prices and corresponding interest from investors. The results largely matched estimates that Coinbase delivered on April 6, about a week […]

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Bulls Snap Three-Session Losing Streak

The stock market bounced back on Thursday to snap a three-session slide despite rising producer prices. Specifically, the Producer Price Index came in above expectations with April gains of 0.6% for the headline and 0.7% for the core.   The market seemed willing to assume the inflation surge may be transitory but something to keep […]

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Extreme Option Profits Chart of Day… Freeport-McMoRan Inc (FCX)

With copper prices still running hot on supply-demand issues, FCX could push even higher.  “The copper market is tight, inventories are trending lower. There is a risk that prices of the red metal spike to $13,000,” said Bank of America analyst Michael Widmer, as quoted by Mining.com.  “Bank of America expects a deficit of 186,000 […]

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Market Falls for the Third-Straight Session

market

The stock market extended its losing streak to three-straight sessions on Wednesday following hotter-than-expected economic news. Specifically, the Consumer Price Index rose 0.8% with the core jumping 0.9%. This represented the biggest rise in the headline since 2009, and the biggest increase in the core since 1981.   The news had a major impact on […]

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Spot gas shortages could worsen if Colonial Pipeline doesn’t reopen by the weekend

If the Colonial Pipeline is not back in business by the weekend, prices could continue to rise at the pump and there will be broader localized fuel shortages across the southeast and mid-Atlantic regions. Gasoline stations that could not get enough fuel were already closed in some states, and prices jumped overnight, by as much as […]

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Nasdaq Recovers Early Losses

Nasdaq

The stock market showed continued weakness on Tuesday with all of the major indexes down for the session as inflation fears remained a key concern. However, the Nasdaq’s recovery from an intraday 2% pullback into positive territory was a slight silver-lining. It remains to been seen if the recovery off the lows was a temporary […]

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Extreme Option Profits Chart of Day… FireEye Inc. (FEYE)

Keep an eye on cybersecurity stocks, like FireEye Inc. (FEYE). After this weekend’s oil pipeline attack, stocks like FEYE could push higher. U.S. fuel pipeline operator, Colonial Pipeline shut down its network after a ransomware attack. What makes the situation worse is that Colonial Pipeline supplies nearly half of the fuel supply for the East […]

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Tech Retreats as Inflation, Geopolitical Concerns Weigh on Sentiment

oil prices

The stock market was lower on Monday as Wall Street weighed the risk of higher inflation along with rising oil and gas prices following a cyberattack and the shutdown of a major pipeline that transports fuel in the United States.   Additionally, late day selling pressure caused further weakness and wiped out the Dow’s gains […]

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Discord is rapidly expanding beyond gaming, attracting suitors like Sony and Microsoft

Since launching in 2015, Discord has quickly become one of the top places for video game players to gather and communicate online, and it’s growing fast. Discord counts more than 140 million monthly active users, up from 56 million at the end of 2019. The company also has 19 million weekly active “servers” — communities […]

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Bulls Overlook Disappointing Jobs Report

The stock market showed continued momentum on Friday with the S&P 500 and Dow reaching another round of record highs despite a disappointing April jobs report. Specifically, the jobs report showed that U.S. employers brought back just 266,000 jobs in April, versus forecasts for one million.   It was the biggest miss in 23 years […]

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