Presented by

NEWS
Stocks Fly To All-Time Highs*

If you want to split hairs, the major indexes were technically not at a new all-time closing high. But Meta is up 19 straight sessions, the equal-weight Nasdaq 100 ETF hit record levels, and the U.S. Dollar is selling off as investors put more risk back into their portfolios. We’ll see if the bulls press their bets with a long weekend ahead. 👀 

Today's issue covers the trend staying the bulls’ friend, GameStop falling into temptation, Coinbase’s lack of a catalyst, and more from the day. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with materials (+1.74%) leading and industrials (+0.10%) lagging.

And here are the closing prices: 

EARNINGS
Coinbase Couldn’t Follow Robinhood Higher 😢 

With Robinhood crushing its earnings report yesterday and singing the praises of crypto deregulation, many hoped Coinbase could follow suit. 🤞 

The largest U.S. crypto marketplace reported after the bell, with earnings per share of $4.68 and revenues of $2.27 billion, topping estimates of $1.81 and $1.88 billion.

Total trading revenues were up 185% YoY, with consumer trading volume up 224% YoY and institutional volume up 176%. Higher levels of crypto volatility helped drive the activity, with management citing the launch of Bitcoin ETF products in and the election of a pro-crypto President and Congress as the two main tailwinds. 🪙 

Still, Coinbase said it is trying to diversify its revenue streams away from trading, which made up roughly 68.5% of total revenue during the fourth quarter. Stablecoins are another opportunity, with USDC poised for growth in a post-stablecoin legislation world.

Stocktwits sentiment is ‘extremely bullish,’ but the 1% post-market decline indicates most investors were unimpressed. As prices flirt with their 2021-2022 highs, a more material catalyst is likely needed to keep the momentum going. 🤷 

SPONSORED
Join Top Investors Before This “Unlisted” Stock Price Changes

When the team that created Zillow and grew it into a $16B real estate leader starts a new company, investors take note. That’s why top firms like SoftBank and Maveron already invested in Pacaso.

Pacaso’s disruptive co-ownership model took America by storm, earning $100M+ in gross profits in just four years. Now, they’re turning their focus to expanding internationally – which is why their share price is changing February 27.

Pacaso has already sold out two Paris homes in record time, with another on its way. In London, they just finalized the purchase of their most expensive European home yet. Meanwhile, in Cabo, they’ve added seven homes. And this is just the start. That’s why they formed a new partnership with a private UK lender to aid further growth.

Soon, Pacaso will become a globally known brand – which means the current $2.70/share price won’t last long. Lock in your stake before 2/27.*

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com.