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- 💦 Barstool is ready to Rumble
Hey there weekday warriors,
Keep your head on a swivel. Cybercriminals are out here getting their SIM Swap on. Isn’t that right, Gary Gensler?
Here’s what else we’re getting into today…
Rumble inks a deal with Barstool
Wilson and Louisville Slugger IPO on deck
United finds a scapegoat
Enjoy the next 4 minutes and 17 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
+ “The S&P 500 and Dow closed at record highs Monday, with the latter ending above 38,000 for the first time as the tech melt-up continued ahead of busy week of corporate earnings and key economic data.” (Reuters)
+ The 10-year Treasury yield “pulled back on Monday as another big week of economic data kicked off." (CNBC)
+ Oil prices “rose about 2% on Monday on concerns over global energy supplies following a Ukrainian drone strike on Russia's Novatek fuel terminal and as extreme cold weather continued to hamper U.S. crude production.” (Reuters)
+ Bitcoin “fell below $40,000 for the first time since Dec. 3, 2023, as GBTC-linked selling of BTC at Coinbase continues to negatively impact investor sentiment throughout the crypto market. ” (Cointelegraph)
+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia +0.27% 2) AMD -3.47% 3) DWAC +88.36%.
Barstool is ready to Rumble
(Source: Giphy)
Bah Gawd, that’s Davey Day Trader’s Music…
DDTG strikes again. Just days after overseeing Spirit’s crash and subsequent rise from the ashes, Dave Portnoy and Barstool have breathed new life into Rumble, an online video player that looks a lot like YouTube if we’re being totally honest.
As part of a “strategic partnership” Rumble will host Barstool’s library of content and live streams. The Pirate Ship’s content is already displayed pretty, pretty prominently on Rumble.
Plus, the two will collab to bring ad deals to the Rumble platform. And by that, I mean High Noon. So. Much. High. Noon.
Barstool will presumably get a fat stack of cash for bringing coveted eyeballs to one of the few video streamers that could actually challenge YouTube (…without showing bobs and v*gine).
On the tech front, Barstool will also switch to Rumble’s Cloud… which almost guarantees we’ll be getting some legendary Dave rants about All Biz Pete.
In his announcement, Dave said the deal was about “Rumble's commitment to sports and broadening audiences.” But it probably doesn’t hurt that Rumble will allow Barstool to be Barstool.
In December, a major Barstool game show production was booted from YouTube because of a heated back and forth that “violated community guidelines.”
So what does it mean for Rumble?
RUM pulled a Penn Entertainment circa January 2020. You might recall that shares of Penn jumped more than 20% in the days following the announcement that the casino company was taking a major stake in Barstool.
Rumble rose 36% during the regular session and added another 16% after hours.
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* This is a sponsored post. The best way to support The Water Coolest is by showing our ad partners some love (think: clicking, taking a look around, etc.).
+ These Are the Worst States to Retire in 2024 (Read)
+ What broke the American Dream for Millennials (Read)
+ ICYMI... For 2024, the quiet luxury trend is out and ‘loud budgeting’ is in — here’s how to make the most of it (Read)
+ Listen, I’m not saying Wilson is going public simply because of pickleball. But it certainly doesn’t seem like a coincidence that the sporting goods company that has been making tennis rackets, footballs, and basketballs since the year after the Titanic sank waited until the year of our lord 2024 to IPO…
Amer Sports the parent company of Wilson, Louisville Slugger, and a handful of other sports brands announced plans to IPO as soon as next month. The company hopes to raise $1.8B at an $8.7B valuation.
And Amer appears to know a thing or two about padding its stats during what is the stock market equivalent of a contract year. In its filing, the company reported that revenue rose 30% in the first 9 months of the year.
Some might say this is a bad time to IPO. Others might say it’s a really bad time. But it appears that IPOs might be back after a two-ish year dry spell. And it looks like Reddit and Amer might lead the way… (Read)
+ United Airlines doesn’t like to point fingers, but… it’s piss poor Q1 is definitely going to be Boeing’s fault.
United said during its Q4 earnings call that the grounding of its 79 737 Max’s would very likely lead to a quarterly loss. And, get this, investors bought it. Shares rose 6% after hours.
To be fair, the move higher could’ve had something to do with the top and bottom line earnings beats (thanks to a stronger-than-expected holiday szn). Or the relatively bullish outlook for 2024… assuming one of its emergency doors doesn’t blow out at 30k feet and kill a family of 4. (Read)
Scott Stuber, the head of film (so, movies) at Netflix, is stepping down. He has plans to launch his own studio, which I’m pretty sure just means he’ll start posting LinkedIn cringe and taking cold plunges.
Stuber was instrumental in making Blockbuster regret its decision to not buy Netflix (even more than it already did). Under his leadership, NFLX ushered in the era of big-budget movies produced by streamers… much to the chagrin of people who call the movie theater the “cinema.”
Shares of the studio that brought us 5 more seasons of Fuller House than it should have were largely unchanged. (Read)
+ “So you’re telling me there’s a chance.” - Arkhouse and Brigade Capital Management
Arkhouse and Brigade are “hopeful” to increase their bid for Macy’s after the department store that has a stranglehold on Thanksgiving Day parades, turned down their $5.8B bid. Their only ask? Access to due diligence.
Macy’s stock was up 3.5% on the news. (Read)
What else?
+ Sure, s*x is cool, but have you ever invested in DWAC? Digital World Acquisition Corp., the SPAC that’s expected to take Donald Trump’s media company public, mooned on Monday. It got its March 2022 on, jumping more than 70% on news that Ron DeSantis was dropping out of the Republican primary race. (Read)
Here's what I'm keeping an eye on today...
+ Johnson & Johnson, Procter & Gamble, Netflix, Verizon Communications, Texas Instruments, General Electric, and Lockheed Martin report
Yesterday, I asked What’s your favorite SI cover ever?
The top 2 were miles ahead of the rest, btw…
Here’s today’s question…
Have you ever watched a video on Rumble?(Be honest...) |
Oh, and one more thing…
Did you check out today’s partner Incogni?
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional