Sup, welcome to “Money Minutes” my weekly newsletter about Stocks, Crypto and corporate drama. This newsletter is 740 words and should take you 4 minutes to read. Hopefully, it doesn’t suck.
There’s a 69% chance some of you probably forget that you signed up for this newsletter because I haven’t published since *checks notes* OCTOBER 11, 2021 (yikes!). I probably need to re-introduce myself.
Hi, I’m Zaid Admani. You probably know me from TikTok where I make finance content and bad jokes. Some of you seem to like my silly videos and that’s probably why you decided to sign up for my newsletter.
My goal for this newsletter: bring that same TikTok energy but in text form. Quick and entertaining summaries from the world of stocks, crypto and corporate drama.
If you want to continue receiving this newsletter every weekend, please keep reading. If you no longer want me to penetrate your inbox, you can unsubscribe. I promise my feelings won’t be hurt (jk i’m going to cry every time someone unsubs).
Now lets get into it!
Market Vibe Check
The S&P500 had its 4th positive week in a row. The Nasdaq is officially in a bull market (20% up from lows). This is such a weird market. 6 weeks ago the markets were in a total meltdown and everyone thought we were headed for a recession. Now the markets are flying, even meme stocks are getting some love and everyone is feeling the positive vibes. Was June really the bottom? Michael Burry being a party pooper and thinks it’s all a head fake.
Word on the Street
📉 Inflation has peaked: CPI for July came in at 8.5% (compared to July 2021) and 0%(!) compared to June 2022. Inflation seems to be cooling off, likely because of falling gas prices (I’m seeing some $2.99/gal in my area). Let’s hope we’re trending in the right direction. If you’re confused about the 8.5% vs 0% thing, I tried to explain it here.
🍕 Dominos is closing down in Italy: The biggest pizza company in the world couldn’t make it in Italy. Dominos is closing all of its 29 locations in Italy. I guess Italians don’t like garlic flavored crust or pineapple on their pizza. Their loss.
🚲 Peloton getting lean: Peloton laid off 780 employees and will be closing some stores. On a side note: I didn’t know Peloton had stores, but apparently they had 86 locations. I bet less than 86 people have stepped into a Peloton store in 2022. Peloton also decided to raise prices on their bikes and treadmills. As someone who owns a Peloton Bike and Peloton stock, I realize I’ve made some poor choices in my life. Amazon needs to buy Peloton already and put them out of their misery.
BlackRock 🤝 Bitcoin: BlackRock, a company that manages like $9 TRILLION of people's money, is launching a Bitcoin product that will allow their institutional clients to invest in Bitcoin. They also announced a partnership with Coinbase. Pension funds and other big money players can now YOLO into Bitcoin like the rest of us. Bitcoin closing in on $25k 👀
Winners and Losers
✅ WINNER: Elon Musk. Daddy Elon sold almost $6.9 (nice) BILLION of Tesla stock between August 5th - 9th. Why? He might need the cash to complete the Twitter buyout (remember, Twitter sued Elon because he tried to back out of the deal). Tesla stock not impacted much. Kinda shocking. I thought it would drop like a rock after the Elon news came out.
❌ LOSER: NETFLIX. Netflix keeps taking Ls. Disney is now the KING OF STREAMING. They have more streaming subscribers (221 million) than Netflix (220 million). If that wasn’t humiliating enough, Netflix has been making games that NOBODY IS PLAYING
Meme of the Week:
That’s a wrap! Feels good to be writing again. This newsletter feels a bit rough. I promise these will get better. If you find any typos, be sure to call me out on my shit! Take a screenshot and share on your IG. Roast me on Twitter. Make sure you publicly humiliate me. Or you could also just send me a DM on IG or Twitter.
If you have any tips on how I can improve, please let me know! My DMs are open.
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Good stuff dude!