Snapchat is worth $10 billion and other true stories
Don’t forget this week’s Live Q&A Chat at 2pm EST today at http://tradingwithcody.com/chat.
Meanwhile, the markets are struggling a bit this morning, and high beta stocks are down. Like I said earlier this week, I think the path of least resistance for the markets is now sideways, and today’s action seems to be reflecting that. Here’s the biggest news for Revolution Investors and tech investors today:
Snapchat Fetches $10 Billion Valuation – Kleiner Perkins agreed to invest in Snapchat at a valuation of close to $10 billion, making it one of the world’s most valuable private tech start-ups.
Remember when the SnapChat guys walked away from a $4 billion bid for their company from Facebook? Seemed shocking and/or just dumb at the time. Now, not so much.
It takes valuations and money flow like this Snapchat / Kleiner Perkins deal to make a bubble-blowing bull market continue.
Fierce Fighting Persists in Ukraine – The question is whether the geopolitical events/wars/disease/crises are, right now, worse than usual? I’ve been writing that we are in a currency war and the Fog of War is buildling. @JessesCafeAmericain has written similar analysis. Much of the Ukraine/EU/Russia/China/Japan/US/Israel/Gaza escalations are akin to battles being fought in the ongoing broader currency and economic wars.
Biotech Stock Boom Times Are Back – There was WAAAY too much love for all things #BIOTECH at the MoneyShow in SF. Everybody investing in biotech right now feels like a genius. Certainly, the entire sector is straight up since Fed Idiot Yellen called it out as being “bubbled”. That said, don’t confuse yourself with being a genius just because you got gains in a high-beta stock sector during a bubble-blowing bull market. $IBB $BIB $BBH
No trades for me today. Steady as she goes for now.
