- Green and Mean - A 64-win regular season and a 16–3 run through the playoffs, including an 8–1 stretch in the final two rounds. The 80–21 combined record generated the second-highest winning percentage in team history and the best postseason mark of any Celtics title team (source: Sports Illustrated).
- More than PDFs – Adobe Systems beat expectations on both earnings and revenue. Earnings for Q2 ended May 31, 2024 finished at $4.48, which was higher than the expected $4.39, while revenue ended at $5.31 billion over the expected $5.29 billion. This caused an immediate 17% increase in share price (source: Yahoo Finance).
- Time to List – House inventory reached the highest level since 2020 from January 2024 through May 2024, with 35.2% more homes actively for sale on an average day in May 2024 compared to May 2023. However, house inventory is still down 34.2% compared to typical 2017-2019 levels (source: Realtor).
- A Bit Better – Bitcoin’s share price ended May 2024 at $68,571.17, a $7,819.52 increase from April 2024’s price of $60,751.65 (source: Google Finance).
- Up the Chain – The U.S. Supreme Court has agreed to hear a securities fraud lawsuit by Nvidia, an artificial intelligence chip manufacturer. This comes after a lower court revived a class action lawsuit from California shareholders for misleading investors about investments made into the cryptocurrency industry (source: Reuters).
- Change of Plans – Elon Musk announced the redirection of 12,000 Nvidia chips from Tesla to his other companies, X and xAI. Tesla plans on purchasing an additional $3 to $4 billion in Nvidia chips this year (source: Market Watch).
- A New Entrant – Webtoon Entertainment, an online comics platformed majority owned by South Korean tech company Naver, is gearing up for its initial public offering with a $2.67 billion valuation. 15 million shares are expected to be available for a price between $18 and $21 each (source: Reuters).
- Worth a Pretty Penny – The median home price ended May 2024 at $442,500, a 0.3% increase from May 2023. The median price per square foot grew 3.8% from May 2023 to May 2024, indicating greater inventory of smaller and less expensive homes (source: Realtor).
- Vote of Approval – Tesla’s CEO, Elon Musk, successfully received shareholder approval for his $56 billion pay package. The meeting was livestreamed on X, attracting over 500,000 viewers. Tesla is still facing an ongoing pay package lawsuit in a Delaware Court (source: Reuters).
- Country Calls – Country Music Association Fest attracted 90,000 daily attendees in Nashville from June 6-9, 2024. This matches 2023’s 50th anniversary attendance records (source: The Tennessean).
- Jumping Ahead – The Atlanta Falcons were found to have improper conduct with Darnell Mooney, Charlie Woerner, and Kirk Cousins prior to the opening of the 2024 league year. The National Football League has fined the Falcons $250,000 and revoked their 2025 fifth round pick. General Manager Terry Fontenot has also been fined $50,000 (source: ESPN).
This newsletter is provided for informational purposes only and does not constitute investment advice or a recommendation regarding any specific product or security. Past performance is not indicative of future results. You cannot invest directly in an index. All references to tax or legal matters are provided for informational purposes only. You should consult your legal or tax professional regarding your specific situation. All investing is subject to risk, including possible loss of principal.
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