PayPal Makes Blockchain Investment in Cambridge Blockchain

Paypal blockchain

It’s a bullish day in the cryptosphere. Paypal makes a blockchain investment and Bitcoin jumps above $5,079 USD.

Bitcoin Jump: April Fool’s Joke?

Bitcoin gained 21% in early trade and has now slightly corrected back down to $4,712 according to CoinMarketCap. However, no one knows why the Bitcoin jump happened in the first place. Now, some investors wonder if the rally was the result of some sort of April Fool’s joke.

Zhao Changpeng, the chief executive officer of Binance, tweeted earlier today that he was “clueless” about what may have triggered Bitcoin’s jump.

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VLDR – VLDR ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of May 3, 2021 in the Class Action Filed on Behalf of Velodyne Lidar, Inc. Limited Shareholders

New York, New York–(Newsfile Corp. – March 8, 2021) – The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Velodyne Lidar, Inc. (NASDAQ: VLDR) alleging that the Company violated federal securities laws.

Class Period: November 9, 2020 and February 19, 2021Lead Plaintiff Deadline: May 3, 2021
Learn more about your recoverable losses in VLDR:http://www.kleinstocklaw.com/pslra-1/velodyne-lidar-inc-loss-submission-form?id=13459&from=5
The filed complaint alleges that Velodyne Lidar, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) certain of Velodyne’s directors had failed to operate with respect, honesty, integrity, and candor in their dealings with the Company’s officers and directors; (2) the Company was investigating the foregoing matters; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until May 3, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
For additional information about the VLDR lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:J. Klein, Esq.Empire State Building350 Fifth Avenue59th FloorNew York, NY 10118jk@kleinstocklaw.comTelephone: (212) 616-4899Fax: (347) 558-9665www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76536

DKNG – Cathie Wood's ARK Invest Buys Over 800,000 Shares of DraftKings

A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Monday. Accordingly these funds bought over 800,000 shares of DraftKings Inc. (NASDAQ: DKNG) shares on Monday, as the price of these ETFs lost over 5% on Monday. Note that these ETFs are still up over 100% in the last year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 748,201 shares of Tesla, while ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 56,900 shares. At Monday’s closing price this would have valued this purchase at roughly $49 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 115% in the last year, and ARKF is up 101%.
24/7 Wall St. recently reported on DraftKings:

The company became a huge favorite with younger people due to the surge in popularity of fantasy football. DraftKings Inc. (NASDAQ: DKNG) operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting and iGaming opportunities. It also is involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products.
DraftKings entered the market in April 2020 at a time when most companies were putting off their initial public offerings. The offering was not an IPO in the truest sense because DraftKings came public through a merger with a special purpose acquisition company called Diamond Eagle, but similar rules applied, a practice that has grown exponentially since then.
On the revenue side, DraftKings saw a 98% year-over-year surge to $132.8 million in the latest quarter, reported on November 13. The company raised its full-year 2020 revenue range to $540 million to $560 million, which equates to 25% to 30% annual revenue growth. DraftKings also introduced 2021 revenue guidance of $750 million to $850 million, which equates to 45% year-over-year growth using the midpoints. The company is expected to post fourth-quarter results on Friday.
The Jefferies price target is $67, which is higher than the $62 consensus target. Friday’s last DraftKings stock trade came in at $60.91 per share.

Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of 247wallst.com.

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SNOW – Why Snowflake Stock Plunged Today

What happenedShares of Snowflake (NYSE:SNOW) fell 10.7% on Monday, extending the decline in the data-warehousing company’s stock price since its fourth-quarter earnings report on Wednesday.
So what
Snowflake’s fourth-quarter revenue surged 117% year over year to $190.5 million. The gains were fueled by strong customer growth and rising sales to existing clients.
The cloud data platform’s total customer count increased 73% to 4,139 at the end of 2020. Meanwhile, Snowflake’s net revenue retention rate — which compares sales made to existing customers from one year to the next — checked in at an impressive 168%.
Snowflake’s stock price sank on Monday. Image source: Getty Images.

Despite Snowflake’s solid growth metrics, its shares are now down roughly 13% following its earnings release. Its $200 million operating loss in the fourth quarter likely didn’t help. Sharply higher expenses led Snowflake’s losses to more than double compared to the year-ago quarter.
Now what
Snowflake’s losses should be viewed in context. The company is spending heavily to seize a growth opportunity it pegs at $14 billion for its core data warehousing service — and more than $80 billion when factoring in the entire cloud data market.

Still, Snowflake’s intriguing expansion prospects are arguably already reflected in its stock price. Its shares are currently trading for approximately 55 times its projected sales for fiscal 2022. That’s not cheap.
Many high-priced growth stocks have seen their shares decline in recent weeks, as investors have rotated into value stocks. Snowflake’s steep valuation has led its shares to be caught up in this selling, and it’s possible that its stock could continue to decline until it falls to a price that investors find more compelling.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

ZUO – Buy Cheap Tech Stock Zuora Down 20% Before Q4 Earnings?

We are nearing the end of a better-than-expected fourth quarter earnings season that’s seen companies provide strong 2021 guidance. Nearly all of the big tech names, including Apple (AAPL Quick QuoteAAPL – Free Report) , Microsoft (MSFT Quick QuoteMSFT – Free Report) , and others, posted blowout results.
Yet, the positive financials and guidance, coupled with the possibility of increased government spending and the likelihood of a vaccine-boosted economic comeback, has brought a wave of selling. The Nasdaq closed regular trading Monday in correction territory, down over 10% from its mid-February records.
Tech Overview
The pullback appears healthy since the Nasdaq is still up roughly 60% over the last year, including the recent wave of selling. The decline has been driven by the likes of Tesla (TSLA Quick QuoteTSLA – Free Report) , Zoom Video (ZM Quick QuoteZM – Free Report) , and countless other high-flyers that had skyrocketed, in some cases by over 300%, in the past 12 months.
Some Wall Street traders have grown worried that the Nasdaq could face more downward pressure and possibly test its 200-day moving average. And the inflation fears and rising bond yields do highlight stretched tech valuations.

But at some point, the downward spiral seems likely to create buying opportunities and entry points that are too good to pass up, especially as tech companies are poised to dominate our lives and the markets for decades. For example, Tesla and Apple are now trading their late-November levels.
Zuora, Inc. (ZUO Quick QuoteZUO – Free Report)
Prior Close: $13.21USD (close of regular trading Monday, March 8)
Zuora is a cloud-based subscription management platform company that aims to help its customers smoothly transition to their own subscription-focused models, by automating and orchestrating “the entire subscription order-to-revenue process seamlessly across billing and revenue recognition.”
ZUO hopes to capitalize on the rise of Software-as-a-Service and the subscription-based economy that spans from consumer-facing players like Netflix (NFLX Quick QuoteNFLX – Free Report) to business giants such as Salesforce (CRM Quick QuoteCRM – Free Report) .
Zuora went public in 2018 and its FY19 revenue climbed 38%, while its fiscal 2020 sales jumped 18%. Zacks estimates call for the company’s fiscal 2021 sales to pop 9.4% to reach $302 million, with FY22 projected to climb another 10%.
ZUO is also expected to shrink its adjusted loss from -$0.34 last year to -$0.13 a share in FY21. The company is projected to continue to trim its losses in fiscal 2022.

ZUO’s consensus earnings estimates have remained largely unchanged over the last several months heading into the release of its Q4 fiscal 2021 financial results on Thursday, March 11. Investors should note that the company has topped our bottom-line estimates by an average of 60% in the trailing four quarters.
Zuora shares fell another 3% during regular hours Monday to close at $13.21 a share to put it nearly 25% below its February highs. Including the recent fall, the stock has climbed over 30% in the past six months to nearly double its Computer Software Services market’s average.
Bottom Line
ZUO currently lands a Zacks Rank #3 (Hold), alongside an “A” grade for Growth and a “B” for Momentum in our Style Scores system. The stock trades at 4.8X forward 12-month sales to put it right near its own year-long median and at a solid discount to its industry’s 7.9X average.
The recent selling has pushed Zuora to the cusp of oversold in terms of RSI at 32. We should note that ZUO traded above $20 a share during its first several months on the public markets back in 2018. And the company highlighted a report in early March that said “subscription businesses have grown nearly 6x faster than the S&P 500 over the last 9 years.”
In the end, Zuora might be a stock to at least keep an eye on heading into its upcoming earnings release on March 11.
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