• Black Swan Street
  • Posts
  • 🦢Black Swan Street Weekly Stock Market Summary (Feb. 12th - Feb. 16th 2024)

🦢Black Swan Street Weekly Stock Market Summary (Feb. 12th - Feb. 16th 2024)

Zuckerberg says enough with Apple, Bezos moving to Florida for taxes, Solar is hot, Michael Burry portfolio update, and much more...

Sponsored by

Black Swan Street stock market newsletter stock market summary

Welcome to Black Swan Street!

Welcome back!! It’s @JohnWetter here with another edition of Black Swan Street…

Let’s get straight into it:

  • Zuck Says Enough Is Enough

  • The Swan’s Selections🦢

  • In Other News🗞

  • Next Week In The Stock Market🔮

Read time: 6 minutes

Zuck Says Enough Is Enough

Mark Zuckerberg with quest headset

What’s happening? Unless you live under a rock, you’ve seen the new ‘Apple Vision Pro’. And for those under that rock, it’s Apple’s newest mixed-reality headset. It basically blends the digital and physical world together… it’s pretty cool.

Well, Zuckerberg had enough.

What’s the issue? Mark Zuckerberg said enough is enough and took to ‘X’ to compare the Apple Vision Pro and Meta’s Quest 3. I’m not cover everything Zuck said, but essentially it was “f*ck Apple, Meta’s VR headset is better”. Click here to watch the full comparison video Zuck made.

Sadly, the team at Black Swan Street doesn’t have a spare 4 grand lying around to try both VR headsets…

But, we do have loyal readers that responds to polls! So, we’re gonna let you decide which headset is better. And when Black Swan Street finally starts bringing in the big bucks, we’ll go out and buy the winning headset (unless everyone thinks VR is dumb)

Which would you rather buy?

Login or Subscribe to participate in polls.

Presented by…

Are you ready to take your investing game to the next level?

We empower investors like you with a daily newsletter which includes the insights needed to stay informed and make profitable decisions in the stock market.

Join Millions Who Trust The Early Bird

  • Discover daily recommendations

  • Unlock hidden opportunities

  • Make informed investment decisions

By receiving our #1 stock tip delivered straight to your inbox every day at 6:59 am—completely FREE.

Seize the Opportunity:

Join the ranks of millions of investors who trust The Early Bird. Sign up now to receive today's #1 Trade of the Day and unlock a world of exclusive benefits.

Your success in the market is just one click away!

The Swan’s Selections🦢

⚡️Bolt Lost 97% Of The Lightening. E-commerce startup ‘Bolt’, was valued at $11 billion back in 2021, but not anymore. This week, Investors in Bolt announced they are planning to sell shares back to Bolt at a price that implies a $300 million valuation, or a 97% decrease since 2021. Talk about an L.

💰Jeff Bezos Doing What Old Rich People Do: Moving To Florida. Jeff Bezos announced on Instagram that after nearly 30 years he is leaving Seattle and moving to Miami. Why? Bezos plans to unload 50 million shares of Amazon before Jan. 31, 2025 and moving to Miami will save him ~$610 million in taxes. Washington has a 7% capital gains tax on sales of stocks or bonds of more than $250,000.

🏈Super Bowl LVIII Draws Record Viewership. The Kansas City Chiefs’ overtime win over the San Francisco 49ers was one for the history books. It recorded 123.7 million U.S. viewers. This makes it the most-viewed Super Bowl ever, and also the biggest U.S. audience for any event since the first astronauts walked on the moon in 1969.

☀️Solar Use On U.S. Farms Jumps 30% In Five Years. Photovoltaic installations increased 30% in the latest U.S. Census of Agriculture. This number jumped from 90,142 farms with solar panels in 2017 to 116,758 farms in 2022. Wind turbine installations grew by 2.7% during the period. Is solar a long-term trend or a fad?

🤓Michael Burry Portfolio Update. The “Big Short” investor, Michael Burry, doubled his U.S. stock holdings from 13 positions to 25. Some of these new holdings include Oracle, Citigroup, Amazon, Apple, MGM Resorts, Warner Bros. Discovery, Toast, and a few others. He also increased stakes in certain positions. See his full portfolio here.

🤖OpenAI Launches New Product. The most well-know AI startup ‘OpenAI’ just launched a new video-generation model called ‘Sora’. And let me tell you, it’s wild. Click here to see an example of what it’s capable of.

In Other News🗞

  • Elon Musk isn’t the only billionaire fighting Delaware - WSJ

  • Diamondback Energy acquires ‘Endeavor Energy Resources’ in a $26 billion cash-and-stock deal - OP

  • Barclays will buy most of the banking operations of Britain’s biggest supermarket group ‘Tesco’ for ~$757M - RT

  • U.S. Consumer Price Index (CPI) YoY: 3.1%, from previous 3.4%, and above with 2.9% forecast - January Data

  • Nvidia overtakes Amazon in market value - BBG

  • U.S. drugmaker Gilhead Sciences agreed to purchase liver disease treatment developer ‘CymaBay Therapeutics’ for $4.3 billion - RT

  • Great inflation hedge unwind sees TIPS ETFs lose $43 billion - BBG

  • ESPN Bet plans to launch in New York, the largest U.S. betting market - CNBC

  • IRS sues FDIC over Silicon Valley Bank’s $1.4 billion tax debt - YF

  • Paramount Global to cut 800 jobs, or 3% of workforce - CNBC

  • Instacart to lay off 250 employees, or 7% of workforce - CNBC

  • Warren Buffett’s ‘Berkshire Hathaway’ sold about 1% of Apple position in final three months of 2023, leaving it with a 5.9% stake ($167 billion) in the iPhone maker - WSJ

  • Japan dropped a rank to become world’s fourth-largest economy after unexpected shrink in final quarter of 2023 - WSJ

  • Morgan Stanley to lay off several hundred in wealth-management division - WSJ

  • Colorado filed a lawsuit to block Kroger’s $24.6 billion acquisition of rival supermarket chain ‘Albertsons’, citing consumer harm - BBG

  • Bristol Myers Squibb is raising $13 billion through a nine-part bond sale to finance its acquisitions of ‘Karuna Therapeutics’ and ‘RayzeBio’; the bond issuance garnered orders exceeding $85B - YF

Next Week in the Stock Market🔮

Earnings To Watch Next Week:

Graphic of Earnings To Watch Next Week

Tuesday: Walmart, Home Depot, Barclays, Palo Alto Networks, Caezar’s Entertainment

Wednesday: Nvidia, Wingstop, Rivian, HSBC, Lucid Motors, Etsy, Suncor, Trip.com

Thursday: Moderna, Keurig Dr Pepper, Wayfair, Block, Carvana, Intuit, Booking Holdings

Friday: Warner Bros. Discovery, Bloomin Brands, Icahn Enterprises

Economic Calendar Next Week:

Economic Calendar Next Week

Recommended Reading📚

Michael Burry portfolio visualized

Love this infographic?

Tired of boring, text-heavy investing newsletters?

Carbon Finance sends out a weekly newsletter with simple, data-driven visuals that covers the most important headlines in investing.

It’s completely free and only takes 5 minutes to read.

Join thousands of investors and automatically subscribe with the button below 👇

The Wrap-Up🔄

🎊🎉 That’s it for this week 🎉🎊

As you probably noticed, it was a bit of a slower week in terms of news. Next week will probably be similar as the Stock Market is closed on Monday for Presidents Day.

Quick reminder: Follow my Twitter @theJohnWetter, if you want real-time market and economic analysis. I’ll be moving everything from the Black Swan Street Twitter to my personal account going forward.

Let our team know what you thought

How did you like this week's edition of Black Swan Street?

Login or Subscribe to participate in polls.

Join the conversation

or to participate.