Diamonds and Dogs

7/26/21

Kids are buying toys again. Hasbro (HAS) is up 11% to a new high following strong earnings as sales rose 53% to $1.32 billion. Hasbro is seeing results across all key metrics including Marvel's Star Wars and Disney Princess and card games like Magic: The Gathering and Dungeon & Dragons. Hasbro bought out and closed on their Entertainment One music business in the quarter as well.

China continues to tighten their control on Chinese companies. E-commerce giant, Alibaba Group (BABA) is down 6% near one year low and down 40% in the last eight months as China is working on a digital yuan which could disrupt their Alipay digital payments network they built up over the past decade.

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