MARKET RECAP → Stocks climbed Wednesday, building on the momentum from the prior day as the animal spirits take shape and investors ask themselves whether they should take profits or get in while the getting is good.
SOLANA’S SURGE → ? Amid a broader altcoin rally, Solana (SOL) tripled its value, hitting $61.36, buoyed by Cathie Wood’s praise and outperforming Bitcoin (BTC) and Ethereum (ETH).
TARGET’S LOCKED LOGIC → ? Amid mixed reactions, Target’s (TGT) CEO Brian Cornell claims customer gratitude for locked-up items, countering theft woes without denting sales, despite some social media backlash.
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| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
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? Solana’s (SOL) price leaped, nearly tripling in the past month, with a significant 10% rise to $61.36 on Wednesday. This surge was part of a broader altcoin rally, further fueled by Cathie Wood of Ark Invest praising Solana on CNBC for its performance, speed, and cost-effectiveness compared to Ether (ETH). ? The cryptocurrency, ranking sixth in market cap, has been a top performer in the U.S. crypto market this year, outpacing rivals like Dogecoin and Ripple’s XRP. Solana’s growth has been particularly notable in liquid staking protocols, with its activity consistently increasing throughout the year.
? A year after the FTX debacle, which saw Solana’s value plummet by 70%, the token has rebounded impressively, marking a 510% increase this year. This comeback starkly contrasts with the more modest gains of Bitcoin (BTC) and Ethereum, highlighting Solana’s resilience and appeal in the volatile crypto market. |
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? Target (TGT) CEO Brian Cornell reported that many customers expressed gratitude for the retailer’s decision to lock up items like body wash and toothpaste to combat theft. Despite some shopper frustration over waiting for items to be unlocked, Cornell emphasized the positive response, noting that the strategy kept essential products in stock and readily available. ? While addressing fiscal third-quarter earnings, Cornell denied any significant sales loss due to the inconvenience of locked items. He highlighted that being in stock was crucial for customers, and the security measures were necessary to ensure product availability and safety.
? The move to lock up merchandise followed Target’s closure of nine stores in high-theft areas like New York City and the Bay Area. This strategy, part of a broader effort to enhance the shopping experience and convenience, has been met with mixed reactions from consumers, some of whom have voiced their frustrations on social media platforms. |
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Russia says ‘hell’ awaits Ukrainians after confirming they’ve crossed the Dnieper River into occupied territory (CNBC)
Microsoft is fine avoiding China as U.S. considers national security implications, CEO Satya Nadella says (CNBC)
FAA clears SpaceX to launch second Starship flight (CNBC)
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And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
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