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Today is Monday, April 15, 2024.

The Early Bird Index today is 70.12.

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Social Media Stocks in 2024

Social media stocks are an area of focus in 2024, as the founding team of the investing platform MarketPlays (Joseph Hadaway, Efe Burak, John Esen) said in a new episode of the Early Bird podcast today.

Fallout: The IPO of Reddit (NYSE: RDDT) is the big social media story in 2024, but the stock is down by a lot. MarketPlays’ founding team said that some of Reddit’s users are betting against the stock.

Comparing: MarketPlays’ founding team said that Facebook and Instagram, owned by Meta Platforms (Nasdaq: META), are more monetizable than Reddit because those platforms are more moderated.

Underrated: The financials for Pinterest (NYSE: PINS) are also improving, according to MarketPlays’ founding team.

Powering the Story: While TikTok is not a public stock, its presence influences other social media platforms. If TikTok got banned in the U.S., its users might go to Instagram.

Final Thoughts: Should investors feel good about social media stocks for the rest of 2024? Find out by listening to a new episode of the Early Bird podcast.

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Notables

Notable Earnings Today: Goldman Sachs (NYSE: GS), Charles Schwab (NYSE: SCHW), M&T Bank (MTB), CaliberCos (Nasaq: CWD), CrossFirst Bankshares (Nasdaq: CFB), Dragonfly Energy (Nasdaq: DFLI), FB Bank (NYSE: FBK), Guaranty Bancshares (NYSE: GNTY), Inspired Entertainment (Nasdaq: INSE), Skillsoft (NYSE: SKIL), Vuzix (Nasdaq: VUZI).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: PhorMed (Wefunder), Artly (StartEngine), Sorting Robotics (Wefunder), Winston Pies (Wefunder), FamGuru (Wefunder), Loosid (Wefunder), Basil (Wefunder), The Realm Refillery (Honeycomb), The Sunrise Shack (StartEngine), House Taco (Honeycomb), Rayyan Systems (Wefunder).

Notable Economic Events Today: Retail Sales / Core Retail Sales (8:30 a.m. ET), NY Empire State Manufacturing Index (8:30 a.m. ET), Business Inventories (10:00 a.m. ET), Atlanta Fed GDPNow (2:00 p.m. ET).

Apple Falls to Samsung in Phone Sales

We all knew that iPhone sales for Apple (Nasdaq: AAPL) were troubled this year, but now we know how bad its market share is.

Details: The International Data Corporation (IDC) released its Worldwide Quarterly Mobile Phone Tracker report on Sunday. Apple’s global mobile market share in the first quarter was 17.3%, behind Samsung Electronics (KRX: 005930), which had 20.8%.

Stock Price: Apple is down 4.9% so far in 2024. Samsung is up 2.39%.

Final Thoughts: Watch out for Apple’s earnings in a few weeks. We’ll get an update on Apple’s iPhone sales and the company’s overall business operations.

Toncoin’s Sunday Surge

The price of the cryptocurrency Toncoin surged by 20% on Sunday, a gain that was better than other crypto prices on Sunday.

Bigger Picture: Most crypto prices fell on Saturday due to the conflict in the Middle East. Sunday was a recovery day.

Final Thoughts: Toncoin is up 79% in the last 30 days and has grown to become a popular altcoin.

Trends to Watch

Come on, Elon: Tesla (TSLA) is rumored to be preparing a massive round of layoffs (Electrek)

Gearing up for Debut: Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPO (Bloomberg)

Tough to Beat Bitcoin: Only 6 altcoins in the top 50 have outperformed Bitcoin this year (Cointelegraph)

Potential Jump: Oil prices could see ‘super spike well above $100’ if conflict escalates after Iran’s attack on Israel (CNBC)

So Much Winning: Small-time investors in Trump’s Truth Social reckon with stock collapse (The Washington Post)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}