Weekend Update 5/23/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Massive crypto pullback has risk appetite waning 😬
😳 Bitcoin falls -25%. #Crypto leader Bitcoin fell -25% in past week and -50% since April all-time high. New restrictions, more regulation and nervous investors all contributing.
👟 Risk appetite waning. Overall S&P 500 only slightly down less than -1% last week, but #Flight2Safety sector rotation continues－Growth down -2% while Value up +1%.
🎭 Streaming plot twist. AT&T announced deal with Discovery to spinoff WarnerMedia which includes HBO Max. NewCo will be a pureplay media company taking on Netflix and Disney in #StreamingWars without the Communications Infrastructure baggage. Grab your 🍿…
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As of the publish date, Ursa portfolios may own T, DIS and NFLX. The stocks mentioned in this article may cease to be owned by Ursa portfolios at any point.
The statements, opinions and analyses presented here are provided as general information. This article is the opinion of the author. Anything within this article should NOT be considered an investment recommendation or advice. See Ursa’s full disclosures here.