The Capitalist Countdown is a weekly series that features the biggest stories from the market’s hottest stocks as well as news from under-the-radar hidden gems, capable of delivering mutibagger returns to your portfolio.
With that said, please sit back, relax and enjoy the Capitalist Countdown’s top 5 market-moving news stories for the week of October 25th – 31st, 2021.
Despite Being One of the hottest Investments in Recent Years, Many Investors Are Still Wary of Buying Bitcoin Directly
ProShares, one of the most prominent ETF managers, wanted to allow investors to jump on the Bitcoin train without buying the cryptocurrency directly, so they started the ProShares Bitcoin Strategy ETF (NYSE Arca: BITO), which officially began trading on Tuesday, October 19th.
Big Pharma Earning Season Has Begun, and One of the World’s Largest Pharmaceutical Companies Has Started Things Off With a Bang
Johnson & Johnson (NYSE: JNJ) reported its Q3 2021 financial results on October 19th and beat EPS estimates by nearly 10%. The company posted EPS of $2.60 against consensus estimates of $2.35. Total revenue for the quarter grew 10.7% to $23.3 billion. The company’s revenue growth was buoyed by strong demand in the company’s pharmaceutical and medical devices divisions. The company’s COVID-19 vaccine, in particular, drove significant revenue growth, although it is a not-for-profit product.
From the Health-Conscious to the Environmentally-Minded to Those Worried About Animal Suffering, the Number of People Willing to Spend Their Hard-Earned Dollars on Plant-Based Food is Expected to Grow Exponentially Over the Coming Years
Leading investment bank Credit Suisse (NYSE: CS) (SWX: CSGN) expects the vegan food market to grow 100-fold by 2050, projecting an explosion in value to over $1.4 trillion. As the world wakes up to the myriad of benefits that adopting a plant-based diet has to offer, the potential to earn substantial profits in the plant-based food sector grows immensely, with Eat Well Group (CSE: EWG) (OTC: EWGFF) (FRA: 6BC0) currently presenting investors with a rare ground floor opportunity.
Online Gambling and Sports Betting Are Becoming Some of the Most Popular Forms of Entertainment for American Consumers and Penn National Gaming is Emerging as a Force to Be Reckoned With in the Rapidly Growing Industry
While Penn National Gaming (NASDAQ: PENN) got its start as an operator of smaller regional casino resorts, over the last few years, it has been heavily investing in digital assets, including iCasino and sports-betting-related media. The company took a 26% interest in sports media giant Barstool Sports in early 2020. Barstool Sports and its founder David Portnoy are some of the biggest names in digital sports media. Portnoy, in particular, is a major fan and advocate for sports betting.
Nearly Two Years Since the COVID-19 Pandemic Began and Almost One Year Since the Various COVID Vaccines Started to Roll Out, the Investing Public is Pivoting Away From Companies Developing Vaccines to Those Developing Therapeutics to Treat the Virus
Now that the majority of people who are going to get vaccinated have received their shots, the belief seems to be that the stock prices of vaccine makers like Johnson & Johnson (NYSE: JNJ) and Moderna (NASDAQ: MRNA) have run their course, at least in the short term. Investors are now turning their attention to other drugmakers, including Atea Pharmaceuticals (NASDAQ: AVIR), Merck & Co. (NYSE: MRK) and Pfizer (NYSE: PFE). These are some of the largest and most well-respected drug makers in the world. Each of them is pursuing a treatment for COVID-19 in different ways.