In today’s briefing:
- FTX Fallout – A Quick Update
- Buy Polygon For Big-Brand Crypto Scaling
- Breaking Growth Short Candidates: Plug Power, Nvidia, Palantir, Roblox
FTX Fallout – A Quick Update
- FTX filed for bankruptcy on 11/11 after halting client withdrawals in the previous week, despite SBF (the ex-CEO) tweeting 2 days prior that it had $1 bn of excess cash.
- With over 130 affiliates included in the filing and no first day documents in the Delaware Court, the bankruptcy filing seems disorderly. The fallout is far-reaching in the industry.
- As we await the top 50 creditor list and more details, we have compiled a hit list of some of the major affected players in the industry.
Buy Polygon For Big-Brand Crypto Scaling
- Polygon added to Disney Accelerator program. Fashion and payments companies add to the recent partnerships.
- Polygon also added to the recently partnerships with Instagram NFTs.
- In a recent article, I advised buying Disney for eventual growth in the metaverse. Polygon (MATIC-USD) is a crypto project that has been making waves with a series of big-name corporate partnerships, including Disney.
Breaking Growth Short Candidates: Plug Power, Nvidia, Palantir, Roblox
- This model looks for slowing growth, margin declines, sales and/or earnings disappointments, troubling working capital trends, poor estimate trends or lowered guidance, among other characteristics.
- The key judgement is whether a slowdown is temporary or the beginning of a trend. These shorts tend to have high valuations and betas. Multiple compression accelerates the stock’s decline.
- Today we are flagging Plug Power, Nvidia, Palantir, and Roblox
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