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🩲 The Next Big IPO?
Brooks Dyroff
January 18, 2024
Happy Friday Zingers! Big Tech had a big day yesterday — but they didn’t get there by playing nice. Netflix, Spotify and YouTube have all announced they will not support apps for Apple’s Vision Pro. Ah well. I wasn’t exacting clamoring to experience Squid Game in VR anyway.
Today, we’re taking a look at an unparalleled parlay, Portnoy’s bumpy ride and more.
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MARKET SNAPSHOT
Yesterday: The aforementioned big day for Big Tech. The NASDAQ Composite closed up more than 1.5%. Meanwhile, the Dow lagged on the day, as energy and financial names underperformed tech — but honestly how could they not?
On Our Radar: Several regional banks are reporting this morning, including Comerica, Regions and more. Here’s to a better Q1 for the sector than last year’s.
TOP STORY
Briefly: Shares of Spirit Airlines tumbled this week on news that a federal judge blocked the planned acquisition of the company by JetBlue.
So Basically: While many investors remained scared to board Spirit’s stock, Barstool Sports founder Dave Portnoy took a stab at $SAVE’s stock yesterday.
But Then: In the same minute, the company announced a restructuring and the stock nosedived by more than 20%.
And A Twist: Portnoy endured the turbulence, and ended up making his money back before the market closed.
What Next: Check out the full story here.
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FIVE ZINGERS
All In: Investors sure love their chips. Here’s why Super Micro Computer’s stock took off yesterday.
Mag 7 2.0: Goldman’s CEO Solomon says he doesn’t see the Fed cutting rates seven times this year — but it would be magnificent for stocks if they did.
Betting On The House: Investors are thinking the house always wins and running up DraftKings’ stock.
Nothing Micro About It: Microsoft overtook Apple as the largest company in the world, and this analyst thinks there’s more growth to come.
Now That’s A Lunch Date: One man spent $5 million on two lunches with Warren Buffett. Here’s what he got out of it.
ONE FOR THE ROAD
Briefly: One skilled (read: lucky) bettor placed a parlay that is poised to pay off spectacularly.
The Details: The parlay included four championships across different leagues:
Las Vegas Aces WNBA Champions: -230
Texas Rangers MLB Champions: +850
Michigan NCAA Football Champions: +850
Baltimore Ravens NFL Champions (Super Bowl LVIII): +1,800
The Payload: The $10 bet could win the FanDuel user $24,000 if the Ravens end up taking home the Lombardi Trophy. They are currently the second favorite to do so, after the San Francisco 49ers.
The Out: The house may be scared it won’t win this time. The sportsbook is offering the bettor a $4,000 cashout option. Hey, a 400x bagger ain’t bad if you ask me.
What Next: Check out some other crazy parlays here.
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