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Bitcoin: The Only Asset Worth Buying On Weekends

Published 08/18/2017, 06:29 AM
Updated 05/14/2017, 06:45 AM

It’s Friday in the Wall Street Daily nation. And longtime readers know what that means…

We’re taking a break from our typically long-winded commentary (keep the hallelujahs to yourself) and instead cherry-picking a few graphics to convey some of the week’s most important economic and investing news.

Or more simply, we’re going for less talking and more graphics.

This week, we’re also mixing in some 1980s music references. So a virtual mixed media investment mash-up awaits you.

It involves another friendly reminder to steer clear of Wall Street’s hyped-up IPOs, as well as the only asset worth buying on weekends. Yes, weekends.

Seeing that it’s Friday, you shouldn’t tarry any longer…

Snap, Crackle, Drop

File this in the “We Told You So” folder.

Even though the newest social media company to come public posted a 153% increase in sales, Snap’s (NYSE:SNAP) profitability is heading in the opposite direction. Fast.

During the second quarter, Snap’s losses almost quadrupled to $443 million.

Snap's Quarterly Revenue And Net Loss

If share prices ultimately follow earnings — and they do, as evidenced by Snap’s 13% post-earnings report sell-off — there’s not a single reason to own the stock.

I take that back. If you like living on a prayer, Bon Jovi style, there’s a chance Snap eventually gets acquired, as I shared on CNBC recently.

And there’s legitimately a chance that happens. Before the company ever came public, Facebook (NASDAQ:FB) reportedly offered $3 billion to buy it. And more recently, Alphabet (NASDAQ:GOOGL) is rumored to have offered $30 billion.

In case you’re wondering, Snap is currently trading at about a $15 billion valuation. Management’s refusal to double shareholders’ money and call it a day would trouble me if I owned the stock.

Such stubbornness could ultimately result in lower shares prices and much lower takeover offers.

Bottom line: Snap should have never had a “Buy” rating from Wall Street. It certainly didn’t get one from this guy. I’m convinced there’s more downside ahead.

Look Out Weekend, Here Bitcoin Comes

When the closing bell rings on Friday, most investors are trained to think the gains are gone until Monday morning. Think again!

Over the last two weekends, bitcoin surged to record highs.

Look Out Weekend, Here Bitcoin Comes

The cryptocurrency has more than quadrupled since the beginning of the year.

Meanwhile, the more traditional alternative currency, gold, has barely budged, climbing only 12% year to date.

Is it too late to get in on the cryptocurrency profits? Not hardly!

As you know, I’m presently hyper-bullish on cryptocurrencies. Especially a few that are trading for pennies on the dollar.

You see, in addition to bitcoin, there are over 1,000 cryptocurrencies, all of which represent fresh opportunities for quadruple-digit gains.

Original post

Latest comments

Is there a particular handful of 5 cryptocurrencies that you might recommend looking into? Also, gold's actually backed, where does crytocurrency get it's financial stability from? I mean it's only a digital commodity right? It feels to me like investing into something unstable.
Backed by mining network or similar solutions, development teams, investors, and by offering innovative solutions for common problems. It's on you to find those that you think have the most potential before others realize the same. You have bunch of YouTube creators posting diverse info. Start there. Find, subscribe, and learn.
How about this weekend?? It just crashed and trashed compared to last weekends
Which alternative coins are you referring to?
I have always said to buy before the weekends. Most gains happen over the weekend
Thanks for sharing the coins you anticipate making quadruple digit gains.
Which are those?
Iota is the best
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