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3 things to see during happy hour

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Roadside sign: Lucid Motors, Bitcoin and Lockheed Martin: 3 things to see for happy hour

© TheStreet
Lucid Motors, Bitcoin and Lockheed Martin: 3 things to watch for happy hour

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To say this week is boring is an understatement when it comes to the market.

Obviously, that’s the irony as we head into one of the biggest earnings weeks of the quarter.

So, barring Tesla earnings, here are three of the top stories I’m watching on Monday.


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Lucid Motors debut

On the same day that Wall Street picked up the Tesla dividend, Lucid Motors also debuted. The company went public through a special purpose acquisition company with Churchill Capital.

The startup received about $4.4 billion in cash from the deal, after expenses, according to reports. The Saudi Public Investment Fund has invested more than $1 billion in Lucid. He will own about 60% of the company.

The deal values ​​Lucid at approximately $24 billion.

It’s been a busy year at Spax. I mean, according to SPAC Analytics, we’re looking at over 370 SPACs in 2021. lonliness. To put that in context, there have been more than 580 IPOs this year.

Lucid is trading above $26 per share in the last hour of trading.

This would be a stock earning a spot on my watch list as we see heavy hitters like Ford and General Motors enter space.

Bitcoin boost

Bitcoin price has been boosted by speculation that Amazon may get involved in cryptocurrency.

Well, let’s get this back. Amazon has announced the opening of a digital currency and blockchain product leadership.

“The Payment Acceptance and Experience team is looking for an experienced Product Leader to develop Amazon’s Digital Currency and Blockchain Strategy and Product Roadmap. You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies, and Cryptocurrencies to develop the case for capabilities to be developed, guiding the overall vision and product strategy, and gain leadership endorsement and investment for new capabilities,” says the job ad.

What’s interesting is that this position is involved with the Payment and Experience team “responsible for how Amazon customers pay on Amazon sites and through Amazon services around the world.”

Speculation about the listing has led to a bitcoin increase of more than $40,000.

This is the first time that Bitcoin has risen over $39,000 since mid-June.

It comes after Tesla CEO Elon Musk and Twitter and Square CEO Jack Dorsey made positive comments at things like last week’s B-Word event.

Musk said that Tesla could start accepting bitcoin again in the near future.

Finally, this is what I watch on real money

real money Stephen Gilfoyle has a business idea based on an earnings report.

The company is Lockheed Martin.

Lockheed Martin reported earnings for the three months ending in June of $6.52 per share, a penny shy of expectations. Lockheed Martin said revenue rose 5% to $17.03 billion, slightly ahead of analysts’ estimates of $16.94 billion.

“In my first year leading our company, I am proud of the extraordinary determination our 114,000 team members have shown to rise above the challenges of the pandemic to support our customers, our nation, and our allies. This is reflected in our solid sales growth across every business region this quarter,” said CEO James Ticklett. Our teams continue to deliver major platform software while developing critical technologies to deter 21st century scientific discovery.”

“It still looks good. Cash is a little lower than it was six months ago, but still fairly large. However, total current assets are higher, as net receivables and contract assets have increased. No adjustment made to the goodwill entry …total current liabilities are mostly higher due to the increase in accounts payable but still dwindles in comparison to current assets. The dependence on long-term debt has not increased, and the current ratio is still comfortably above level one, which is what we are concerned,” Gilfoyle noted.

You can read Gilfoil’s trading ideas here.

This article was originally published by The Street.

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