Episode 26: Baseball opener impacts Draft Kings.
Hi, Pandocap family Happy Monday. There are a lot of macro risks happening this week. We have the stimulus plan, fed outlook, and Moderna kicks off phase 3 COVID-19 trial.
We are keeping a close eye on earnings this week with over 200 companies reporting their earnings like SAP, Visa, and Facebook. Then on Wednesday, there is a meeting with top tech companies on the antitrust hearing. In addition, the GDP reports are expected to be 30% to 50% down but the market is believed to have factored this in already.
Then there is Major League Baseball pulling back because of positive tests on the Marlins team which made Draft Kings took a hit :( bummer since I own that one.
Finally silver and gold are going nuts with people dumbing into precious metals for returns.
Markets closed up today.
Dow up +116 points 26,586
S&P up +23 points 3,239
Nasdaq up +173 points 10,536
IPO News
We had an episode last week on Pandocap with Lise Buyer helping breakdown the SPAC game but things are really heating up now. The blank check companies (“SPACs”) as so hot that this week Bill Ackman’s Pershing Square Tontine Holdings (NYSE: PSTHU) raised $4 billion in the largest SPAC IPO ever. So basically as Lise described now they have to identify the company they will acquire which could be virtually any of the world’s largest private companies think Airbnb, Palantir, or SpaceX. After Brian’s Chesky’s interview last week on Reuters I might bet on him!
This week’s Pandocap interviews we have CRO Chris Aronis of Numerated and next week we will be featuring Mitzi Madrid Diaz from Morgan Stanley. Some great interviews coming up!
Finally, we launched a podcast to offer additional services to our clients, community, and friends. The podcast is to share experiences in the workplace with everyone. So we encourage you to submit to be on the show and share your story. You can go to the podcast section on our website and contact us to be on the Pandocap podcast “A Space To Unpack”.
Thank you and see you next time!