In today’s briefing:
- What Is Tesla’s Outlook After It Drops Out Of Top 10 Largest U.S. Public Companies?
- Weekly Close Is Likely To Confirm Sustainable Bitcoin and Ethereum Uptrends
- Liquid Staking Derivatives Wars
- National Vision Holdings, Inc. (EYE) Recommendation: Sell Short
What Is Tesla’s Outlook After It Drops Out Of Top 10 Largest U.S. Public Companies?
- Tesla’s disastrous performance has resulted in the company no longer being among the Top 10 largest U.S. public companies.
- Market commentators remain laser-focused on business fundamentals, while outside factors are still in the driver’s seat.
- Back in April of last year (less than a year ago) the optimism on Wall Street was running high.
Weekly Close Is Likely To Confirm Sustainable Bitcoin and Ethereum Uptrends
- Today we step away from our ST / tactical TSS strategy and focus on definitive MT momentum confirmation.
- The uptrends that have evolved since the November lows in Bitcoin and Ethereum are small relative to the 2022 declines.
- This week is in the process of delivering definitive bullish MT momentum confirmation in both Bitcoin and Ethereum. Such an outcome will confirm a high probability multi-month uptrend bias.
Liquid Staking Derivatives Wars
- As a proof of stake network, Ethereum rewards stakers with block rewards and user fees.
- However, the 32 ETH minimum required to stake your ETH directly on the network prohibits the vast majority of users from doing so. Enter liquid staking derivatives, or LSDs.
- LSDs refer to the tokens created by DeFi protocols or centralized services designed to reward users who stake ETH on their platform.
National Vision Holdings, Inc. (EYE) Recommendation: Sell Short
- Sales have fallen for four quarters. Comp store sales growth fell -8% last quarter due to customer weakness, the declining macro environment and constraints on exam capacity (optometrists).
- Optometrists are supply constrained, which pressure margins from rising compensation. Investor-owned optometry service providers are at a disadvantage competing with professional practices that don’t share fees with investors.
- National Vision is neither large and vertically integrated like Essilor Luxottica, nor niche focused like Warby Parker is on ecommerce. Their low-price strategy is easily replicable by competitors.
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