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  • 👑 NVIDIA dethrones Google... Reaches a $1.8T market cap

👑 NVIDIA dethrones Google... Reaches a $1.8T market cap

PLUS: Lyft, Coinbase, and others rock their earnings.

This week’s market performance 👀 

S&P 500: -0.42% 📉 
Nasdaq: -1.28% 📉 
Dow 30: -0.07% 📉 
Russell 2000: +0.90% 📈 

TOP STORY
🤑 Nvidia continues its historic run… this week’s earnings call will determine their fate

NVIDIA ($NVDA) stock has been soaring in recent weeks, and the company has just added even more fuel to the fire after disclosing a number of home-run investments.

  • Arm Holdings ($ARM): Stock was up 60% before crashing down to around a 10% gain 📈 

  • Recursion Pharmaceuticals ($RXRX): Stock was up 31% in the past week 📈 

  • SoundHound AI ($SOUN): Stock was up 62% in the past week 📈 

  • Nano-X Imaging ($NNOX): Stock was up 95% in the past week 📈

What are these companies, you may ask?

Arm Holdings is a semiconductor and software design company, licensing its technology to key players in the semiconductor industry like Nvidia.

Recursion Pharmaceuticals is a biotechnology company based on using AI and machine learning to discover and develop new drugs.

SoundHound is a music recognition app that can detect songs by simply hearing a user's humming, singing, or song snippet.

Nano-X Imaging is an Israeli medical imaging company known for its digital X-ray technology (hence the name).

Despite Nvidia’s massive returns, the company isn't out of the woods just yet. They'll report earnings this upcoming week, which will either make or break millions of hearts across the country.

📈 NVIDIA ($NVDA) is up 50.75% in 2024 (so far).

EARNINGS
🤯 Lyft earnings report typo caused a 65%+ swing… Uber up +10%

Earlier last week, Lyft ($LYFT) and its shareholders went through a rollercoaster of emotions. Lyft shares were up 66% in after-hours trading after a small typo.

The typo suggested that Lyft’s EBITDA was expected to grow by 5%, when in reality, it was supposed to say 0.5%.

After finally being corrected, Lyft's shares fell back down to earth at around 16%.

Uber, Lyft's longtime counterpart, authorized up to $7B in share repurchases, signaling confidence in the company’s valuation and catapulting shares up 10% this past week.

📈 Lyft ($LYFT) was up 36.72% during the trading week.

This week’s sector performance 🏆️

Semiconductors ($SOXX): -0.77% 📉 
Bonds ($TLT): -1.21% 📉
Technology ($QQQ): -1.43% 📉
Dividends ($SCHD): +0.20% 📈 
Emerging Markets ($EEM): +1.11% 📈 
Energy ($XLE): +2.32% 📈 
Financials ($XLF): +1.41% 📈
Gold ($GLD): -0.14% 📉 
Industrials ($VPU): +1.65% 📈 

CRYPTOCURRENCY
🪙 Coinbase and Robinhood calm crypto investors after crushing earnings

Coinbase ($COIN) and Robinhood ($HOOD) were up 25% and 20%, respectively, after crushing their earnings this week. This quarter marked the first quarterly profit Coinbase has reported in two years.

Coinbase:

  •  $230M profit ($1.04 per share) vs -$557M ($2.46 per share) in the same quarter last year.

  •  Revenue soared to $954M vs. $629M a year ago.

Robinhood:

  •  Revenue hit $471M, a 24% increase year-over-year.

  •  Crypto revenue stood at $43M, up 10%,

  •  Equities revenue increased by 19% to $25M.

  •  Net interest revenues jumped 41% to $236M.

  •  Transaction-based revenue increased by 8% to $200M.

📈 Coinbase ($COIN) was up 27.65% and Robinhood ($HOOD) was up 19.56% during the trading week.

Here’s what else you may have missed…

Dropbox (DBX) plunged over 20% on earnings and analysts downgrades.

Roku ($ROKU) plummeted over 20% due to increased competition from tech giants.

DoorDash ($DASH) declined by over 8% despite solid earnings and growth in monthly users and order values.

Twilio ($TWLO) drops by over 15% due to lowered Q1 revenue guidance.

US:

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