If you are the superstitious kind, the Santa Claus stock rally is hanging on by a thread. But who cares about that after a year where we learned stock prices only go up.
Here are several other things worthy of your attention as we head back to the investing (or day-trading...) grind after the holiday weekend.
Come On Young Man
A terrible first year as a public company and no sign of profits coming apparently doesn't have Snap Inc. (SNAP) co-founder Evan Spiegel in low spirits. The 27-year old tech billionaire (worth more than $3 billion) reportedly spent $4 million on an elaborate New Year's Eve party for Snap employees. A distinguished guest that no doubt got a big chunk of those tech dollars: rapper Drake, the headliner performer.
This fellow young adult has been critical of Spiegel's actions in the past. From zero clue on how to run an earnings call to a general lack of what it means to be a public company CEO, add this swank gathering to the growing list of Spiegel's executive suite fouls. Memo to the ultimate (former CEO of Procter & Gamble (PG) ) public company CEO and Snap board member A.G. Lafley: take this new money kid out for lunch and explain to him the ropes. Save the celebrations for when Snap's stock gets back above $24.48, which was the closing price on the first day of trading Mar. 2, 2017.
Watch the Weed Stocks
Here's another reason to invest in fast-food stocks besides their assault on digital ordering: weed.
Starting Monday, Californians can legally possess, sell and distribute weed as long as they follow certain guidelines. Licenses to many small business owners that hawk cannabis are expected to roll-out across the state in January. All states will be eyeing the cannabis legalization in California -- no doubt depleted state cash coffers could use the high taxes from selling legal weed.
TheStreet's Cathaleen Chen makes a case for investing in fast-food companies ahead of broader U.S. weed legalization. At the very least, weed being legal in California should lift the bottom lines of fast-food companies as the state is often their largest market.
Now bring on those smoking hot stock prices for munchies plays.
Let the Takeover Rumors Begin
There is little doubt now that tax reform has passed rumors will be coming in hot and heavy (probably starting this month) on Wall Street on which companies will be gobbling up rivals or complimentary pieces with their newfound cash. First out of the gate with some juicy speculation are the number-crunchers at Citi.
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A Citi note has started to make the rounds that says there is a 40% chance Apple (AAPL) will buy Netflix (NFLX) . The call is rooted in Apple possibly bringing back billions upon billions of dollars from overseas to fund a major acquisition such as Netflix. In addition to buying Netflix, Citi sees Apple also purchasing more of its stock.
Citi's note took me back to the time I asked former Apple CEO John Sculley why the tech giant has never made a massive acquisition. Sculley's answer to the question (below video, and directed to rumors at the time of Apple buying Tesla (TSLA) ) was interesting.
Before you go, here are several big 2018 predictions on Netflix from TheStreet's Eric Jhonsa.
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