Happy Hour In The Mud 🙃
3 Stocks are up 100% this Year, The Fight For Amazon’s Credit Card, Robinhood’s Extended Trading Hours & No New iPhones For You 😫
Beautiful People, Welcome to the 2nd quarter!
I know the market has been less than encouraging for a bit now but lately, the market’s been like:
& we’re here for it! 🔥
So much to look forward to already.
Let’s dive into the week’s juice, shall we?
Let’s get it!
Robinhood adds four additional hours to extended trading!
On Tuesday, Robinhood announced that it is adding four extra hours to its trading day. In a push to eventually provide 24/7 equities trading, Robinhood said it will now be available from 7 a.m. to 8 p.m. ET. Until Tuesday, Robinhood offered trading 30 minutes before the open and two hours after the close. Plenty of time for scintillating extra profits! 🤑
The U.S. stock market opens at 9:30 a.m. ET and closes at 4:00 p.m. ET as part of its regular session. Extended trading is allowed beginning as early as 4 a.m. and goes as late as 8 p.m. ET and a few electronic brokers do offer that extended access.
Now, Robinhood users can now say this 🌝:
Happy Hour In the Mud.
“Our customers often tell us they’re working or preoccupied during regular market hours, limiting their ability to invest on their own schedule. Our new extended trading hours for equities will give them more opportunities to manage their portfolio at a convenient time for them”, Robinhood said. …and the market couldn’t agree more! 😉
Robinhood’s stocks popped about 25% following this announcement, which is great news but the firm is still down about 15% overall this year.
Amazon continues with JP Morgan Chase!
Amazon has chosen to renew a deal allowing JPMorgan Chase to issue the tech giant’s flagship rewards credit card, ending months of heated negotiations. That's why you have both Moguls up here ☝️ looking at each other that way! 😁
Why's this a big deal?
It's a long story, but here's the summary:
While JPMorgan has issued Amazon’s card for about two decades, that didn’t stop Amazon from soliciting bids to replace the bank in mid-2021. American Express and Synchrony were among the issuers involved in discussions, and Mastercard had hoped to displace Visa as a payments network. According to experts, “This was a once-in-a lifetime opportunity to penetrate Amazon …Any winner would gain instant credibility and a new growth story for Wall Street,” according to sentiments on the streets.
Yup. it's that deep!
Of course, Amazon drove a hard bargain (as you can imagine). That's because the Amazon Prime Rewards card is one of the industry’s most highly coveted co-brand deals, because of the massive scope of Amazon’s loyalty program, with its estimated 150 million U.S. members.
Apple cuts iPhone Production!
Apple appears to be scaling down production of its new budget iPhone SE. The company seemingly cut down the production of its budget $429 5G phone by 2 million units.
$429 is a bargain. God when? 😭
The reduction in production didn’t stop with just the iPhone SE, Apple also reduced the production of AirPods by about 10 million units.
Time for everyone to be careful with their Airpods. Seems like there aren’t going to be too many new ones in circulation and yes I’m looking at you guys who constantly lose one ear. 👀
The production cuts are reportedly a result of lower than expected demand linked to the Russian war on Ukraine. The war and inflation are having a negative effect on the demand for electronics.
A number of tech companies have stopped sales in Russia following its Ukrainian invasion. Several countries have also imposed economic sanctions on Russia causing a disrupted supply chain and increasing inflation risks.
Looks like we all going to be holding our iPhones, AirPods, & like-to-have electronic devices a lot longer than typical, especially with the high energy prices in the UK, and insane oil prices in North America. We’d need a little bit of disposable income in our pockets, I reckon.
🥺🥺
These 3 stocks are up 100% this year🤑🤑🤑
The stock market is truly the place to be! It’s raining money !!!
As we end the first quarter of 2022 and move to the next, it's important to highlight the best-performing stocks in the market year-to-year.
I don’t know if your guess is as good as mine (just in case you have a superpower like I do😁) all three stocks are from the same sector. Yes, one industry beat them all, and no it’s not EVs or Gold, it’s the “black gold” space: Energy.
I know you want to know them already, here they are:
First is NexTier Oilfield Solutions Inc. (NEX) with a massive run of 160.2% year to date. NexTier Oilfield Solutions, an energy services company, has benefited from rising oil and gas prices in 2022.
The second on the list is Peabody Energy Corp. (BTU), the stock price is up 143.5% this year alone
We are just a few months into the year and stocks are returning above 140%, my god why didn’t I see this coming😭😭😭?
The last of the three is RPC Inc. (RES), an oil and gas equipment and services company. RPC shares have trended steadily higher throughout the opening months of 2022 as crude oil prices have surged to their highest levels since 2008. The share price is up 135% year to date.
Me looking at my portfolio😭😭😭
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Go out there & have a phenomenal week!
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 🖤
XOXO