A Market’s Mass Exodus

Sponsored by: April 25, 2022 Good morning traders, Welcome back to The Daily Setup. Markets were down on Friday as investors processed (and sold) the comments made by J Pow the day prior. Here’s what’s on the docket today: - JE Cleantech gains 375% in its public debut - The Dow has its worst day since October 2020 - Scaramucci is back in the news Thanks to all that voted in the poll for Friday’s Meeting with the Bobs. Check out the bottom of the newsletter for Friday’s results and to body shame Bill Gates. Nick How'd the markets look? Market Outlook JE Cleantech - Cleaning Up Biggest Mover [Activision Blizzard, Inc. ]( JE Cleantech, the industrial cleaning service, took a trip to the moon on its first day as a public company. Shares [closed the day]( up 375% from its list price of $4.00 per share…not bad for a company that cleans toilets. - The cleaning company, based in Singapore and Cayman Islands exempted, [sold 3M shares]( at its formerly mentioned list price to rake in $12M during its IPO. A cleaning company with a Cayman Islands exemption? Somebody get the Sopranos on the line. - Underwriters were given a 45-day option to buy 562.5k more shares. - A selling shareholder, in line with the IPO, is selling 750k more ordinary shares at $4 per. While cleaning systems doesn’t seem like the flashiest industries to IPO, it was a slow week, with only JE Cleantech going public. While boring, cleaning systems are pretty core necessities for many workplaces (Note: not all, looking at you, Walmart bathrooms). The company’s operations being based in Singapore, a massive, growing market in Asia, also entices investors, as does its latest robotic floor scrubber that is being rolled out to its customers. A Markets Update - Mass Exodus Street stories [Cycling Downhill] The markets took a beating on Friday, as investors took J-Poww’s Thursday comments on interest rates to heart. The Fed received Powell’s support for faster raises to interest rates in an attempt to combat inflation, and investors headed for the exits. One measure could include a 50-point interest rate hike as soon as May, with potentially additional 50 point rate hikes in months to follow. - The Dow fell almost 1000 points, or 2.82%, marking the biggest single day percentage loss since October of 2020. - The S&P and Nasdaq plunged 2.77% and 2.55%, marking THEIR worst day since March 7th, a not-so-distant past. - The 10-year Treasury yield dropped to 2.89%, after a Thursday climb to 2.917% which was the highest since 2018. All eyes are on earnings. While the Fed can rain on investors’ parades all it wants, the corporate machine keeps on chugging along. This week, investors will have their sights set on earnings reports from the likes of Apple, Amazon, and Microsoft, as well as a handful of other big guns. Get ready, it’s #EarningsSZN. Sponsored By: The Pharmacy of the Future📱 Going to the pharmacy to get your prescriptions isn't always easy — but it should be. [NowRx]( is rebuilding the retail pharmacy experience with amazing service plus free same-day prescription delivery and they’re looking for [investors to join them.]( The company’s proprietary pharmacy software “QuickFill and dispensing robotics can count, bottle, and label the medications in under 30 seconds” – all while dramatically reducing costs and common pharmacy errors. Best of all, unlike mail pharmacies, NowRx is local and uses their own HIPAA-certified employees to deliver medications which means no unexpected delays at the post office. All of that equals a fast, convenient, hassle-free experience for customers. In December, NowRx saw record revenue of nearly $2.2M putting them on pace for $26M on an annualized basis… But they have ambitions to do a whole lot more than that. The company has already announced new locations in Las Vegas, Seattle, and Denver for 2022 and with their newest Telehealth product growing like crazy (Over 1,200% in 2021) NowRx looks like a great investment for the new year. [Learn how you can own shares in this rapidly growing startup today.]( [Learn more about NowRx]( See Disclaimer Below Scaramucci - Can you dig it? Token Talk [Token Talk] We haven’t heard from him in a while, but Anthony Scaramucci is back in the news. The Mooch’s SkyBridge Capital has launched a fund to power bitcoin mining. SkyBridge BTC Mining has already raised [around $7M](, and was specifically created to invest in Genesis Digital, a bitcoin mining firm. - This is SkyBridge’s second investment in Genesis, as it was part of the $431M investment round Genesis raised [last year](. - SkyBridge (not skynet) has been involved with crypto mining in the past, through its First Trust SkyBridge Crypto Industry and Digital Economy ETF, and Digital Innovation funds. - Between SkyBridge’s two other crypto funds, it invests in more than 9 mining firms. SkyBridge is getting in while the getting’s good. Genesis [announced]( last year that it was ready to kick North American operations into high gear, with a 300MW mining facility in Texas. The new facility also addresses sustainability concerns surrounding bitcoin mining, with 40% of its energy coming from wind and solar power, while the rest (because it is still in Texas) will be powered by traditional fossil fuels. Buy Buy, Baby, Indeed Deals and Rumors [Deals and Rumors] Bed Bath and Beyond’s Buybuy Baby has investors looking to squeeze its cheeks. While there’s no guarantee of a deal taking shape, investor [interest]( is coming from Cerberus Capital and Tailwind Acquisition, a SPAC run by Philip Krim, of Casper Sleep fame. $BBBY has been under pressure to unload the baby faced business unit since Ryan Cohen became an activist investor in the struggling retailer. - Cohen has high hopes for the business, saying that Buybuy Baby could be worth as much of the entirety of $BBBY, which had a $1.3B valuation as of Friday. - Cohen has a 9.8% stake in $BBBY. The struggling retailer has already added three directors to its board as part of a settlement agreement with Cohen. - Cerberus already knows what it’s doing in the retail and consumer space, as it owns a stake in Albertson’s supermarkets. Despite the struggles of $BBBY to date, investors are optimistic that a sale of Buybuy Baby could start a turnaround. $BBBY [reported]( that net sales fell 22% in the three months ended February 26, but the news of a potential suitor for Buybuy Baby sent BBBY shares up 6.85%. Link Roundup Other News Other News Link Roundup + Nice going, Block Head - Jack Dorsey’s new title: Block Head ([link]() + Setting (low) expectations - Verizon Stock Falls As It Lowers Expectations For 2022 Earnings ([link]() + Nerd fight! - Elon Musk says he confronted Bill Gates about shorting Tesla ([link]() + How low can you go? - Cathie Wood’s Flagship Fund Is Down 45% This Year. Money Is Still Flowing In. ([link]() + The end of an era - Netflix is finally going after password sharing. Here’s how it’s likely to work ([link]() Meme of the day I don’t think anybody has more fun on twitter than Elon, [via @elonmusk]( [other news] Meeting with the Bobs [other news] Welcome to [Meeting with the Bobs](. 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