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We love a wedding as much as the next newsletter, but you probably shouldn’t build your portfolio around a pop star proposal.
Earlier today some poor Jefferies analyst—who definitely didn’t spend all those years grinding it out on Wall Street just to write about this stuff—noted that internet searches for Ralph Lauren skyrocketed after Taylor Swift and Travis Kelce both wore the brand for their engagement photoshoot. “We see this as an encouraging catalyst for the brand, especially ahead of Swift's upcoming album release in early October and the start of football season for Kelce,” the analyst wrote.
Despite these high hopes, Ralph Lauren didn’t budge much on the record-shattering Instagram announcement—but it was a different story for Signet Jewelers. Shares of the jewelery retailer popped immediately after the post hit feeds, as investors banked on hype over the massive “cushion cut” diamond ring featured in the post sparking a diamond-buying bonanza for the company. Shares of Signet rose 6.28% today.
The life of a showgirl may be all about jewelry and couture outfits, but the life of an investor should probably focus less on wedding hype and more on fundamental analysis.—MR