Diamonds and Dogs

5/19/21

Target (TGT) is on target. The retailer is up 4% to new highs following strong earnings. Sales rose 23% to $23.88 billion. Same-day services such as order pickup and drive-by pickup, which combined saw year-over-year gains of 90%. Home goods and clothing were the top selling sectors. 75% of the populations lives within 10 miles of a Target.

Bitcoin is having a tough week. The cryptocurrency is down 15% today and down 30% in the last two weeks. Several corporations like Tesla (TSLA) and MicroStrategy (MSTR) have been using excess corporate cash buy bitcoin as an investment. That strategy may come back to haunt them.

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