Hey there weekday warriors,

Ok, don’t freak out, but… we could be getting combo IHOP/Applebee’s in the US. Dine Brands which owns both of the fine dining establishments has already tested the very American idea in Mexico.

Here’s what else we’re getting into today…

• Robinhood is diversifying

• Netflix lands Jake Paul vs. Mike Tyson

• Rivian rolls out new whips

Enjoy the next 4 minutes and 40 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “rose on Thursday as the S&P 500 hit a new record high, staying upbeat amid a second day of closely tracked testimony from Federal Reserve Chair Jerome Powell and ahead of Friday's release of the February jobs report.” (Yahoo! Finance)

+ The 10-year Treasury yield “ticked lower on Thursday as investors considered the outlook for interest rates following commentary from Federal Reserve Chairman Jerome Powell and international inflation updates." (CNBC)

+ Oil prices “were little changed on Thursday as markets weighed new economic data from China against increasing supply from the Western Hemisphere.” (Reuters)

+ Bitcoin hovered around $67k for most of the day.

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia +4.4% 2) TSMC +5.3% 3) Costco +1.6% AH: -4.2%

The market moves you need to know about…

+ MindMed shares jumped 51.5% after the FDA granted the company’s LSD-based anxiety treatment breakthrough designation. The move will help speed up development of the drug. Something tells me lots of Phish fans are about to have crippling anxiety…

– Define “failure to launch.” Astra Space crashed 32.0% following reports that the company would be taken private by its founders… at a ~40% to the stock’s previous closing price.

+ GAP rose 9.3% in the extended session after sharing a Q4 earnings report that showed a beat on the top and bottom lines. More importantly, its largest brand, Old Navy, returned to growth for the first time in a year.

Remember that time the Shark Tank investors passed on Ring (which ended up selling to Amazon for $1.8B)?

In 2013 the Sharks heard a pitch for Doorbot, a smart doorbell company. That company went on to become Ring, which sold to Amazon for an estimated $1.8B. Sucks to suck, Mr. Wonderful.

The smart home industry is entering another phase of consolidation, with a wave of acquisitions that have led to massive returns for early investors…

• Smart home conglomerate Vivint was acquired by NRG Energy for $2.8B

• Smart thermostat Ecobee was acquired by power generation giant Generac for $770M

The common threads in all these acquisitions? Patented products and retail distribution.

RYSE is the up-and-coming company in the Smart Shades industry, with proprietary tech that has just launched into 100+ Best Buy stores.

They are disruptors in the slow-moving window shades industry, and you can invest now at $1.50/share.

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Diversify

In a move that feels eerily reminiscent of Zuck trying to fit in with a UFC fighter’s entourage, Vlad Tenev said Robinhood is expanding into… sports.

Robinhood (-0.2%) is partnering with Klutch to expand its reach into sports and entertainment… which I’m pretty sure just means the New Heights pod is about to secure the bag from the sketchiest brokerage to ever do it.

To be fair, Ken Griffin’s lackeys aren’t just partnering with any old sports marketing agency. Klutch was founded by Rich Paul, who just so happens to be LeBron James’ agent and BFF.

The companies made it official on Thursday, but the two have been f*ck buddies for a minute. Klutch already helped RH secure a jersey patch deal with the Washington Wizards.

And during NBA All-Star weekend, Draymond Green, Trae Young, and A’ja Wilson all promoted the investing app. Because who better to represent a company with a shady track record than a loose cannon known for sudden outbursts of violence on the court?

Ok, hear me out… Robinhood Bets has a nice ring to it.

Robinhood had 12M month active users as of January 2024. And I’d imagine the Venn Diagram of Robinhood investors and sports gamblers is close to being a perfect circle.

+ Mark Cuban looks for 2 qualities in employees: ‘If they fail on either one, you’re going to be in trouble’ (Read)

+ Oldest siblings tend to make more money. Researchers have a new theory that explains why. (Read)

~ ICYMI... 2 phrases to use to be a more successful employee or manager—and 2 to avoid, according to leadership coaches, psychologists (Read)

You can secure the bag for your favorite charity by referring someone to The Water Coolest. For every referral, TWC will donate $1 to charity, PLUS you’ll earn prizes like koozies and stickers.

Share your unique referral link via email, social media, on the dark web, etc.

+ Tell me you’re a former combat sport athlete who needs cash without telling me…

Today in things I didn’t have on my 2024 Bingo card: Jake Paul and Mike Tyson are going to fight live on Netflix (+1.8%) on July 20th.

Netflix continues to play just the tip, just to see how it feels with live sporting events. The fight is Netflix’s latest “exhibition” match. Its roster includes a golf matchup between PGA stars and F1 drivers (that no one asked for) and “The Netflix Slam” which happened last weekend.

Of course, Netflix’s biggest bet on live “sports” to date is its $5B deal to carry WWE Raw for a decade starting in 2025.

Hear me out… Why does it feel like Netflix tip-toes around major trends in media as if they are above the fray?

The OG streamer refused to dabble in ad-supported content… until finally caving last year. And now, despite every other streaming exec willing to give up their firstborn for a shot at pre-season NFL rights, Netflix’s strategy includes sports reality shows and scripted, pseudo-athletic events. Unfortunately for the human race, the only bandwagon Netflix has hopped directly on is reality TV.

+ How does a struggling EV company make investors forget all about its piss-poor earnings and share price recently hitting an all-time low?

By rolling out not one, not two… but three new vehicles… of course. At a launch event, Rivian (+13.4%) unveiled the R2 SUV, which will start at $45k.

But Rivian had a little surprise up its sleeve in the form of the R3 and R3X compact SUVs. They will be even cheaper than the R2. Although, we didn’t get an actual MSRP.

Shares were up 13%… although it’s not entirely clear why. Given the state of affairs at Rivian (and the EV market), there’s a very real chance the company isn’t around to deliver its newest R series. The first R2 and R3s won’t be delivered until 2026…

In RIVN’s defense, its decision to hold off on building a new plant will save it more than $2B…

+ Did you really think we’d go a day without finding new reasons why New York Commercial Bank (+5.7%) is a sad excuse of a financial institution? Yesterday, NYCB said that it had lost about 7% of its deposits in the month leading up to its bailout from Steve Mnuchin. Oh, and it slashed its dividend (again) to just 1 cent.

+ Good news, Costco (-4.0% after hours) fans. The hotdogs aren’t the only thing that are cheap. The stock is currently on sale. Shares fell 4% after the Sam’s Club for people with self-respect, reported a rare revenue miss.

Here's what I'm keeping an eye on today...

+ SXSW kicks off. If you haven’t been, it’s pretty much one big TED talk where doing molly is encouraged.

+ The official February jobs report drops. If you like stonks only going up, you’ll say a little prayer for the US creating fewer jobs than expected.

Yesterday I asked “Do you still need a college degree in 2024?”

44.1% of you said “yep.” 31.5% said “nope.” The rest said it depends on what you want to be when you grow up.

Here’s today’s question…

Oh, and two more things…

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Does this look like the face of a guy you should take financial advice from?

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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