Coinbase Drops, Walt Disney Falls, MP Materials Rises on Trump Launching $12 Billion Minerals Stockpile
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Show Notes
On this episode of Stock Movers:
- Coinbase (COIN) shares fall. Cryptocurrency-linked stocks fell after Bitcoin prices over the weekend slid to their lowest price since April. B. Riley analyst Fedor Shabalin notes that crypto markets over the past week were pressured by macro headwinds from heightened geopolitical tensions and a US government shutdown.
- Disney (DIS) shares fall. The company reported sales and earnings for its fiscal first quarter that exceed analysts’ expectations, but the company gave a tepid outlook for growth in the current period. Disney’s results for the quarter ending Dec. 27 were boosted by record sales at its theme parks division.
- MP Materials (MP) shares rise on the news the Trump admininstration is creating a $12B stockpile of critical minerals. The venture, dubbed Project Vault, will marry $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank to procure and store minerals for manufacturers.
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