Netflix’s New Revenue
After a volatile last week, the markets returned from the weekend expecting good news from the Fed this week. — More on that in the “Overall Market” section.
Beyond the overall market, an eCommerce company would collect huge profits if another payment processing division goes public later in 2021. Meanwhile, an electric truck maker’s executives left the company under serious investigation. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, are you ready to buy merchandise from Netflix’s favorite show? — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: The stock market ended mixed on Monday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: After dropping under $31K per coin on the weekend, Bitcoin‘s price increased to $40K per coin.
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Waiting for the Fed
The stock market ended mainly in the green zone on Monday.
After last week’s volatile sessions, the markets set a new record as technology stock overperformed. On Monday, the Nasdaq index increased by 0.74% as investors believe the Fed’s officials might start rolling back pandemic era policies. Furthermore, the S&P 500 index reached a new record high for the third session in a row.
So, what happened?
Shares of Shopify (Ticker: SHOP) were up by more than 4% on Monday. After news that the credit card processor Stripe would make its debut on the public markets, Shopify’s investors were pleased to remember the company is an investor in Stripe’s funding round. Although the investment didn’t grant Shopify a controlling interest, the markets expect Stripe’s valuation to increase further than its current $94 billion. That would represent a sweet return over investment for Shopify.
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So what happened?
Shares of Lordstown Motors (Ticker: RIDE) were down by more than 18% on Monday. After the company announced its CEO and CFO resigned due to a board of directors investigation, the EV maker’s stock immediately sank. The allegations to investigate both the CEO and the CFO were that Lordstown exaggerated its Endurance pickup truck pre-orders. Unfortunately, it seems that things are going from bad to worse for Lordstown.
So what happened?
Netflix (Ticker: NFLX) launched an online merch shop to sell caps, hoodies, jewelry, and even collectibles related to the streaming service’s exclusive shows. Although Netflix had licensing deals with apparel retailers for products based on its shows, the merch shop is the first owned-and-operated Netflix retail store. After witnessing a diminishing subscription number during the last quarter, the company found merch sales a new way to boost sales to counter its slowing growth. In addition, the company believes it is a good strategy because the merch sale has been proved profitable for the company itself and its competitors such as The Walt Disney (Ticker: DIS).
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