Wall Street Reacts to Trump vs Biden, Nike Blows Up, Summer Storms Are Coming
Jul 2, 2024
53:36
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The podcast discusses Nike's struggles, BlackRock's acquisition, Trump vs Biden impact, US stocks outperforming EU stocks, challenges for small cap companies, and stock market analysis with investment considerations.
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Quick takeaways
Nike faced a massive stock drop due to dismal fiscal 2025 guidance, marking its worst performance in history.
BlackRock's acquisition of Prequin enhances private markets indexing, leveraging data on funds, managers, and investors for strategic growth.
Deep dives
Slowest Annual Sales Gain in 14 Years for Nike
Nike experienced a significant blow up due to dismal fiscal 2025 guidance, resulting in a 20% stock drop, the worst in Nike's history. The company's slowest annual sales gain in 14 years led to a $28 billion market cap loss in one day, bringing it under $114 billion.
BlackRock Acquires Prequin, Impact on Private Markets
BlackRock's $3.2 billion acquisition of Prequin is set to revolutionize private markets indexing, given the rising importance of alternative assets. Prequin's data on 190,000 funds, 60,000 managers, and 30,000 investors will enhance BlackRock's market position. Private markets, projected to reach $40 trillion by the end of the decade, highlight the significant growth potential and strategic move by BlackRock.
Mercado Libre's Growth and Potential Investment
Mercado Libre, known as the 'Amazon of Latin America,' exhibits strong growth potential in e-commerce, internet, and payments within the region. With its $1,600 stock price and impressive earnings growth inflection, Mercado Libre emerges as a promising investment option in Latin America's tech market. Driven by economic shifts in Argentina and solid market performance, Mercado Libre presents an attractive opportunity in the international stock space.
On this TCAF Tuesday, hear an all-new episode of What Are Your Thoughts with Josh Brown and Michael Batnick! They discuss the blow up in Nike, BlackRock's new acquisition, Trump vs Biden, US stocks > EU stocks, and much more!
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