Amazon is entering Bitcoin
Plus, Disney executives won’t attend CinemaCon & Tesla reports earnings today
Hello there,
Amazon (AMZN) is hiring a “digital currency and blockchain product lead” and that is a good sign for bitcoin lovers.
Why does it matter: The hiring pages of companies are usually a good signal about what that company is interested in. That's why when Netflix (NFLX) hires a gaming chief, you know they want to make games and when Apple (AAPL) hires from the auto industry, people speculate they will make a car. This new hire for Amazon could be part of the team responsible for how Amazon’s customers pay on its platforms. The possibility of Amazon accepting cryptocurrency payments—by the end of the year, according to some reports—saw Bitcoin surge to six-week highs just below $40,000. (Yahoo Finance)
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Disney executives won’t attend CinemaCon
Disney (DIS) executives won’t be traveling to Las Vegas to attend the National Association of Theatre Owners’ CinemaCon due to concerns over Covid-19 delta variant.
Why this matters: Covid-19 is sadly still a thing and it has brought a new gift in the form of the highly contagious delta variant. The White House has declared southern Nevada, which includes the city of Las Vegas (where the event is happening next month), a “sustained hotspot” for the virus. Disney will instead screen one of its upcoming movies instead. (CNBC)
Tesla reports earnings today
Tesla (TSLA) will report its earnings today and there is a lot to look forward to. A lot of things have been weighing on the stock and investors will be looking for updates.
Why it matters: Everything from the global semiconductor shortage to Tesla’s vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business has weighed on the stock. However, the biggest news from Tesla today will be about its operating profits. If Tesla hits record operating profits the stock could break out of its recent funk. (Barron’s)
That’s it from us.
See you tomorrow.