After four days of not using either “t” word, we’re back. Overnight Trump has levelled criticism at the US Federal Reserve once again sparking fears leading to a sell off in both the S&P 500 and Nasdaq. The S&P 500 declined 2.7% and the Nasdaq was down 2.4%. It seems these days a 2% movement either way is par for the course.
- S&P 500 = -2.7%
- Nasdaq = -2.4%
- Aus dollar = $US64.11c
- Iron ore = +2.2% to $US99.60 a tonne
- Gold = +3% to $US3424.25 an ounce
It wouldn’t be Easter without chokeholds and power bombs
Over the Easter break Netflix Inc (NASDAQ:NFLX) subscribers would have noticed two full days of live wrastlin action with WWE’s Wrestlemania. It was a fun trip down memory lane for those – like me – who grew up on a diet of Mankind, the Undertaker and Stone Cold.
What viewers may not have known is that they can own a slice of stylised violence. TKO Group Holdings (NYSE:TKO) listed on the New York Stock Exchange in September 2023 when the UFC merged with WWE. Since inception the purveyors of pile-drivers have increased by 43%. Group revenue is just over $2.8B and that is evenly split across both brands.
Interestingly, the UFCs seven year deal with the Walt Disney Co (NYSE: DIS) owned ESPN is coming to an end opening the door to both TKO Group properties sitting on the global streaming giants platform. However, Netflix co-CEO Ted Sarandos has cast doubt over that move stating Netflix is more interested in big “breakthrough” events rather than purchasing the rights to full league season.
Raskles are everywhere
I bumped into a Rask community member and investor in the wild over the long weekend, g’day Effy! As usual, I never bump into someone at the most opportune of times.
I was at the Northcote Aquatic Centre with the family. My three year old had found a sinky pool toy and was happily throwing it around the pool when he got a bit excited and threw it straight at me. It clocked me in the bridge of the nose, making a little cut. Those things have a bit of weight to them.
So, there I was, wad of toilet paper in hand, cut on my nose, when I hear, “Hey! Are you Mitchell from Rask?”
It was great!
I love seeing our community in person. So, if you do see us out and about make sure you say hello. In the meantime, say g’day today in our free online investor community.
