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Crypto
March 7, 2024
What Has Been Will Be Again
I wanted to add this to yesterday’s Litepaper, but there wasn’t enough room. 🪗
There’s a lot of folks on social talking about the monthly RSI and how it’s above the default overbought level of 70. That’s happened before.Â
Earnings
March 7, 2024
BJ’s Beats Costco For The Day
Today’s action shows that BJ’s may have a branding problem in the retail investing community. Despite the company’s results topping expectations today, sentiment readings from are community are still weaker than you’d expect. 🤔Â
BJ’s Wholesale Club revenues grew 8.70% YoY to $5.357 billion, with adjusted earnings of $1.11 per share. While earnings topped expectations, revenue was slightly below, with executives citing an uncertain macroeconomic environment as the primary driver.
Crypto
March 7, 2024
BlackRock’s BTC ETF Eats GBTC’s Lunch And Steals Its Homework
BlackRock’s spot $BTC ETF, IBIT, just casually gained a cool $788 million in a single day. 🪨
While the rest of us debated whether to splurge on $SHIB or $FLOKI, $IBIT was busy breaking records. With a casual $12.2 trillion in its war chest, the world’s heavyweight asset manager, BlackRock, has decided Bitcoin is the new black.