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stars and dogs

Hut 8 Corp. (DOG)

HUT - TSX

Hut 8 investors were hearing a lot of bells this week. On Thursday, the bitcoin miner’s CEO rang the opening bell on the Nasdaq Stock Market. Then, when trading started, the stock got its own bell rung after short seller J Capital Research issued a report alleging the company is an “over-levered pump-and-dump … which is unprofitable even at a Bitcoin price of over US$60,000.” (Hut 8 called J Capital “a self-proclaimed group of biased activists” who stand to profit from a decline in the share price and said it will “provide updates as the company deems appropriate”). Adding to Hut 8′s woes, the price of bitcoin sank as the initial excitement over U.S. approval of bitcoin exchange-traded funds earlier this month began to fade. Judging by the steep decline in the stock price, this is all setting off alarm bells for Hut 8 investors.

DraftKings Inc. (STAR)

DKNG - Nasdaq

How to lose money with sports betting: Pick the Leafs to win the Cup. How to make money with sports betting: Invest in DraftKings. After tripling last year, shares of the U.S.-based sportsbook have continued their winning ways in 2024, thanks to steadily-growing revenues and shrinking losses as the company expands into new jurisdictions and benefits from economies of scale. With DraftKings launching in Vermont on Jan. 11 – its 26th U.S. state, in addition to the province of Ontario – the only losers are all the suckers throwing their money away on bets that never pan out.

Spirit Airlines Inc. (DOG)

SAVE - NYSE

It’s been a scary month for airlines – not to mention airline investors. First, a portion of the fuselage was blown off an Alaskan Airlines plane, forcing an emergency landing. Fortunately, no passengers were sucked out of the opening. Then, in an unrelated incident, shares of ultralow cost carrier Spirit Airlines suffered a dramatic drop in altitude that had investors reaching for the vomit bags. The culprit this time wasn’t a faulty door plug, but a U.S. federal judge’s decision to block Spirit’s proposed US$3.8-billion acquisition by JetBlue Airways Corp. on antitrust grounds. While no injuries were reported, a lot of money was seen flying out the window.

Carrols Restaurant Group Inc. (STAR)

TAST - Nasdaq

Business quiz! Shares of Carrols Restaurant Group rose after the largest Burger King franchisee in the U.S.: a) declared a special dividend consisting of a free Whopper, large fries and a drink, sparking record trading volume in the stock; b) announced that it will be closing all 1,022 of its Burger King restaurants and converting the real estate into high-end condos; c) agreed to be acquired by Restaurant Brands International Inc. – the parent of Burger King, Tim Hortons and Popeyes – which plans to renovate the restaurants and refranchise them to new owners. Answer: c.

Tesla Inc. (DOG)

TSLA - Nasdaq

Screeeech! Tesla’s stock price is skidding again. Shares of the electric vehicle maker extended their steep January slide after the company, facing softer EV demand and growing competition, announced a fresh round of price cuts for its Model Y cars in several European countries just days after announcing more price reductions in China. In a further sign of cooling EV demand, car rental giant Hertz said it plans to sell about 20,000 EVs, including Teslas, from its U.S. fleet and replace them with gas-powered vehicles. Hertz once had ambitious plans to expand its EV fleet but has backed away recently, citing higher collision repair costs and weak demand from customers. Please, for Elon Musk’s sake, consider buying a Tesla today.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 19/04/24 4:00pm EDT.

SymbolName% changeLast
HUT-T
Hut 8 Corp
+2.31%11.09
DKNG-Q
Draftkings Inc
-2.31%40.68
SAVE-N
Spirit Airlines Inc
+0.25%4.04
TAST-Q
Carrols Rstrnt Group
+0.21%9.52
TSLA-Q
Tesla Inc
-1.92%147.05

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