Told you so: I can hear my old boss in my head just as I was preparing to tout a winning stock call: "Brian, we aren't a tout sheet -- sell the approach, sell the approach to doing the research, that's how you keep clients for life." Well, now 35 years old and a battle-tested veteran of financial services and business news, and without the same boss, I can talk some smack about a quasi-stock call (I no longer pick stocks). When toymaker Funko (FNKO) went public in early November, and saw its stock crash 41% on IPO day, I sat down with CEO Brian Mariotti to discuss what went wrong on the roadshow and the business outlook. This wasn't my first chat with Mariotti -- I watched him give a passionate speech at a conference in early January and then talked with him on the sidelines. He eats, sleeps and breathes Funko (he basically founded the company). It's hard to bet against that passion and drive. Hence, after the interview I hinted that Funko was being misunderstood by Wall Street but unlikely for long. The company was getting lumped in with the disaster that's Mattel (MAT) , which it's not. Moreover, old boring rich bankers didn't get the collectible toy movement (I have three Funko toys on my desk). Funko shares popped 10% on Tuesday evening after a very solid first earnings report as a public company. Told you so. If you want a stellar, research-driven, actionable stock service click on this link to TheStreet's Jim Cramer's Action Alerts PLUS. You'll thank me later.
Moving right along: Nothing huge out there news wise so far, just some interesting nuggets that include: (1) Ford (F) reportedly is nearing an agreement to sell people cars in China through Alibaba's (BABA) online retail platform and in vending machines (shout out Carvana (CVNA) ); (2) Alibaba is testing facial recognition in Chinese subways, just another sign the company deserves its valuation ... if not a higher one; (3) copper prices have been blasted on China growth fears; and (4) gold prices have dived 3% since the passage of Saturday's tax plan as it has caused another rush into equities -- so far gold stocks are holding up OK.
Your daily bitcoin: Prices crossed the $12,000 mark on Wednesday. Reiterate that prices could skyrocket to $20,000 by year-end ahead of bitcoin futures trading kicking off Dec. 10. BTW, bitcoin profits are taxable people, pointed out TheStreet's bitcoin expert Tanzeel Ahktar!
More of What's Trending on TheStreet:
- Alibaba Just Found a Novel Way to Use Your Face
- Why Sprint Plans to Spend More Than $5 Billion to Bolster Its Network
- Cramer Goes 'Off the Charts' on Facebook, Apple and Netflix
- Meal Kits Are Already Selling Out on Walmart.com
Wondering what's next for small caps? Check out TheStreet's exclusive video coverage of the LD Micro Conference!