Moonfare | April 23nd, 2024

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GOOD MORNING

Here is everything you need to know today: The New York Stock Exchange is eyeing a shift to 24-hour trading, potentially transforming global market dynamics. Skilled trades in the U.S. are seeing a boom, with rising wages and increasing demand in sectors like construction and manufacturing. Meanwhile, Donald Trump is poised to significantly increase his stake in Trump Media & Technology Group amid ongoing legal battles and political campaigns. Lastly, MicroStrategy's Michael Saylor capitalizes on the company’s Bitcoin strategy, selling nearly all his allocated shares following a significant rise in stock value.

Let’s dive into more detail below…

MARKETS

24/7 Trading on NYSE's Horizon

Wall Street's titan may say goodbye to the closing bell, eyeing crypto market hours

BREAKING NEWS
The New York Stock Exchange (NYSE) is stirring the financial world with its consideration of 24-hour trading. This pivotal change could transform the NYSE from an emblem of Wall Street to a tireless engine of global finance, operating non-stop to accommodate international markets and investors.

By exploring this shift, the NYSE acknowledges the increasingly interconnected and instantaneous nature of today's financial exchanges, where traditional trading hours are becoming a relic of the past, perhaps following in the footsteps of the Bitcoin and crypto markets.

WHAT HAPPENED
In its need to adapt to round-the-clock trading, which is already familiar in crypto and futures markets, the NYSE has launched a survey among market players to gauge interest in a 24/7 trading model. Currently, trading on the exchange is confined to 9:30 a.m. to 4 p.m. ET, with limited after-hours sessions.

This potential leap towards non-stop trading offers investors the flexibility to respond immediately to international developments and late-breaking news—imagine trading Tesla stocks right after Elon Musk's midnight tweets. The push towards a 24-hour market also reflects a shift in investor behavior, accelerated by the pandemic and the rise of retail investing.

A new venture backed by Steve Cohen's Point72 Ventures is also chasing the dream of a 24-hour stock exchange, suggesting that the appetite for such market access is expanding beyond the crypto enthusiasts to the broader investing public…

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CRYPTO

Saylor Rides MSTR’s Bitcoin Wave to a $370M Payday

A strategic stock sale turns into a massive gain as the Bitcoin bull reaps rewards from the crypto rally

BREAKING NEWS
MicroStrategy founder Michael Saylor, a legendary Bitcoin advocate and bull, has capitalized from his company's stellar market performance and Bitcoin maxi ways, pocketing approximately $370 million from stock sales this year.

Under a pre-arranged stock-sale plan, Saylor has sold nearly 370,000 of his allotted 400,000 shares. This move comes as MicroStrategy's shares, buoyed by its massive Bitcoin holdings, have surged over 90% following a remarkable 346% gain in 2023.

At the time of writing, $MSTR is up 13% + to start trading this week on Monday.

WHAT HAPPENED
The strategic stock sales were part of a planned agreement in motion in the summer of last year, allowing Saylor to divest up to 400,000 shares by April 2024. Saylor has nearly reached this limit with his recent sales, leveraging the heightened market value of MicroStrategy's shares.

The company, primarily known for its substantial investment in Bitcoin, has benefited from the crypto market's success, reflected in its significant share price increase. Saylor's move to sell shares is not just a personal profit-taking strategy but aligns with the expiry of a vested stock option.

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LABOR

Skilled Trades Surge in the U.S.

As the country rebuilds, traditional tradesmen are now at the forefront of an unexpected wage windfall

BREAKING NEWS
The American job market has been exceptionally challenging for many over the last few years. Most recently, the unemployment rate in the United States dipped to 3.8% in March 2024 from the previous month's two-year high of 3.9%.

McKinsey & Co.'s latest findings point to "record-high pressure" within the U.S. skilled labor sector as a generational workforce turnover looms. Traditional trades, such as construction, plumbing, and welding, are now lucrative fields, experiencing a rapid climb in wages and demand due to labor shortages exacerbated by the pandemic.

WHAT HAPPENED
Amid these shortages, skilled trade wages have soared over 20% since early 2020. With the construction, manufacturing, and plumbing industries leading the pack, positions such as construction superintendents, manufacturing production managers, and journeyman plumbers are becoming increasingly lucrative, boasting median salaries up to $84,600.

The demand for these jobs is projected to intensify, fueled by infrastructure developments, real estate revamps, and renewable energy investments. Data from Payscale and ZipRecruiter corroborates this trend, showing a staggering 128% surge in job openings for construction superintendents, while other trades also report significant growth in opportunities.

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TRUTH

Trump to Acquire $1.25 Billion in $DJT

With Truth Social's stock soaring, Trump's potential $1.25 billion gain could fuel his legal war chest

BREAKING NEWS
Trump Media & Technology Group Corp ($DJT) shareholders are on edge as Donald Trump is on the verge of acquiring an additional 36 million shares in the parent company of the Truth Social app.

With the stock trading at double the required benchmark, this earnout bonus, set to execute after the market closes on Tuesday, could increase Trump's holdings by more than $1.25 billion, given the company's current stock price.

The question on everyone's mind is whether former President Trump will hold or dump the stock as he faces four ongoing legal cases against him while simultaneously juggling his presidential campaign.

WHAT HAPPENED
Trump Media's successful performance in the stock market has set the stage for its founder, Donald Trump, to bolster his stake in the company significantly. Slated to merge with Digital World Acquisition Corp., Trump Media saw its share price soar to nearly $80 on its first trading day. Despite reporting a substantial net loss, it momentarily boosted its market cap beyond $9 billion. Although shares have since retracted from those highs, the price remains well above the $17.50 threshold required for Trump to be granted the earnout shares. Assuming full issuance, Trump's total stake, combining the earnout with his existing shares, would value his investment at over $4 billion, establishing him as the majority shareholder with considerable paper wealth in the social media venture. The share price and the timing of this stock bonus are particularly notable as Trump faces legal proceedings in New York, with the finalization of these shares set against the backdrop of opening statements in his criminal trial.

CONTINUE READING ➔

Today's insights are courtesy of Moonfare. Looking for ways to contribute to your retirement wealth? Fortunately, you can include private equity in your self-directed IRA plan. Maximize your return potential with Moonfare's carefully selected private equity funds from leading managers.

Create your free account* ➔

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