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Bed Bath & Beyond (BBBY) shares have gained 300% since the beginning of August after many previously opened short positions were closed. According to Seeking Alpha data, the short interest on BBBY currently stands at a whopping 41.9% (nearly half of the shares available for trading are sold short). At its peak, BBBY shares reached a price of $30. Today, however, they appear to be down almost 45% ahead of the market opening at 14:00 GMT+3 - this could be the company's worst day since its IPO in 1992. BBBY shares were already down almost 20% yesterday, as investors began to realise potential gains. One of those investors is celebrity billionaire investor Ryan Cohen. He sold his shares, earning $68.1 million (56% on invested capital). According to a report filed with the SEC, Cohen's RC Ventures sold millions of shares on Tuesday and Wednesday in a price range of $18.68 to $29.21. Since then, according to Bloomberg data, the activist investor has asked the company to consider selling the business, reached an agreement to add three independent directors to the board and pushed for the departure of CEO Mark Tritton. Shares also peaked in March 2022, when Cohen first disclosed a 9.8% stake in the company. "The ailing retailer’s share price rise of late has defied logic," - said Danni Hewson, an analyst at AJ Bell. The company has hired the law firm, Kirkland & Ellis, to help it deal with its hard-to-manage debt, media reports said yesterday. Kirkland & Ellis is a well-known advisory firm that plans to help its client by raising new funds and refinancing debt. Other so-called 'meme stocks' also fell on Friday before the open. GameStop (GME) lost 6.5% and AMC Entertainment Holdings (AMC) 4.7% at 14:00 GMT+3. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Bed Bath & Beyond loses more than 45% before the open - the end of the short squeeze?

FIFA to launch Algorand-powered NFT platform. OpenSea to exclusively support NFTs on Ethereum’s PoS blockchain post-Merge. DappRadar data shows gaming makes up half of blockchain activity in Aug. The 2022 FIFA World Cup is just months away. To celebrate this event, global football association FIFA is partnering with Algorand to build its very own NFT platform. Named FIFA+ Collect, it will showcase soccer-themed digital collectibles that represent the greatest World Cup game moments. In preparation for the upcoming Merge, NFT marketplace OpenSea announced that it will exclusively support NFTs on the Ethereum proof-of-stake blockchain after the event. It also said it is preparing for any issues that may arise along with the upgrade, and will no longer support existing NFTs on the proof-of-work blockchain. Video game retailer GameStop doubles down on crypto, as it becomes the preferred retail partner of crypto exchange FTX US. This partnership aims to introduce more of its followers to the FTX ecosystem and community, and will kick off the deal by carrying FTX gift cards in some of its U.S. stores.  Recent data from DappRadar and Blockchain Gaming Alliance shows that gaming accounts for over half of blockchain industry activity in August, with hundreds of millions in transactions. While the figures show a decrease from the previous month, it indicates that top games are growing despite the market slump. X2Y2 recorded a +10% increase in sales and -24% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +23% and its transaction count also increased +23%. The total market cap for GameFi tokens now stands at US$8.97 billion, down -0.1% from last week. Crypto.com NFT in the Spotlight Crypto.com NFT Collection Activity feature just got enhanced! Through this upgrade, users can now easily discover how an NFT ranks within its own collection, check out new data points, and directly place bids and make purchases. Try out the feature via Crypto.com NFT.  MetaBeat, a Music Community NFT platform, has partnered with Crypto.com to create the “MAMAMOO NFT Collection”. MAMAMOO’s drop will start on 19 September 2022 and collectors will be able to reveal one of eight types of NFTs by purchasing a mystery pack. Collectors will also receive access to exclusive redeemables in addition to their collectible. All holders will be eligible for a chance to receive exclusive NFT airdrops as well as physical goods, and will be offered early access to future MAMAMOO drops on the MetaBeat Platform. NFT Highlights Ethereum domain names top NFTs as most traded asset on OpenSea Avalanche NFT marketplaces weekly volume has reached a 7-week high Sorare takes on NBA Top Shot with Ethereum NFT-based fantasy NBA game a16z’s latest bet on NFTs: Free licenses for everyone ConsenSys to launch ‘sustainable’ NFTs celebrating the Ethereum Merge Magic Eden CEO on the future of the billion-dollar NFT marketplace Decentralised NFT marketplace Sudoswap announces Ethereum token airdrop GameFi Highlights Move-to-Earn game StepN to open regional offices at Hong Kong’s Cyberport Animoca’s Grease Monkey Games secures Epic MegaGrant Splinterlands: Details about Riftwatchers set and pre-sale dates announced ImmutableX and Kiraverse partner to deliver brand new game What are fan tokens? Crypto assets that give fans a voice NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $122,400 Minted VVS Miner Mole $96,400 Magic Eden Y00ts: mint t00bs $9,792,000 OpenSea Y00ts: mint t00bs $9,248,000 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain Authors Research and Insights Team Tags CRYPTO CRYPTO RESEARCH GAMEFI NFT Source: NFT & GameFi Weekly (09/09/2022) (crypto.com)

GameStop Q1 24 – 01/06 GameStop shares surged out of the blocks to a 3-month high when they reported a surprise Q4 profit of $0.16c a share, the first quarterly profit in 2 years. Q4 revenues came in at $2.23bn, only slightly below the levels they were a year ago, helped by a strong performance from collectibles and hardware sales.   Annual revenues were only modestly lower than the previous year, coming in at $5.93bn. It is important to note that the profit numbers were boosted by a $4.5m boost from the sale of some digital assets. The company offered no guidance as management look to turn around a business that has been ailing for several years.   Management have been successful in cutting costs as well as withdrawing from non-core markets, however they have been hampered by some poor decisions, the partnership with failed crypto exchange FTX, as well as experimenting with NFT at around the same time the bottom fell out of that market. For Q1 revenues are forecast to fall to $1.34bn, with losses of $0.17c a share. Salesforce Q1 24 – 31/05 Salesforce shares have been on a slow road to recovery after hitting their lowest levels since March 2020, back in December last year. In March their Q4 numbers helped to give the Dow a boost after the company reported better than expected Q4 results and an upbeat outlook for the upcoming year. Q4 revenues rose 14% to $8.38bn, while profits doubled to $1.68c a share.   The Q1 outlook saw revenues estimated at $8.16bn to $8.18bn, and profits of $1.60c a share, while annual 2024 revenues are expected to rise to a minimum of $34.5bn, a decent increase from 2023's $31.35bn.   The outperformance has come from a number of factors, the continued growth of the cloud computing market. Salesforce is a leading provider of cloud-based CRM software, as well investing heavily in AI powered tools, recently launching its Einstein platform, which is a suite of artificial intelligence-powered tools that help businesses make better decisions.

Ashtead Q1 24 – 05/09 – has been one of the better performers on the FTSE100 this year, Ashtead's exposure to the US market ensuring that it has benefitted from the resilience of the US economy, through its US subsidiary Sunbelt. When the company reported its Q4 and full year numbers back in June the shares slipped back. Increased rental revenue has helped boost revenues and profits, with Q4 revenue rising from $1.87bn a year ago to $2.13bn. Full year revenues rose by 24% to $9.67bn, helping to boost pre-tax profits by 30% $2.15bn. For Q1 revenues are expected to rise to $2.65bn, with Sunbelt US expected to contribute $2.27bn of that, with operating margins expected to remain steady at 30%. Net profit is expected to increase to $476m.     GameStop Q2 24 – 06/09 – the last two earnings reports have seen decent gains in the GameStop share price, however on both occasions these spikes proved to be the top of the moves higher with the share price now close to its lowest levels this year. It would appear that the higher rate environment is blunting risk appetite to these so-called meme stocks and its not hard to see why. While the company posted a surprise profit in Q4, it slipped back to a loss in Q1 of -$0.14c a share and is expected to see a similar loss in Q2 as well. Q1 revenues came in at $1.24bn, with hardware and accessories making up over half of that total at $726m. For Q2 revenues are expected to come in at $1.14bn, although inventories should reduce to $600m. Same store sales are expected to decline by 0.1%.   DocuSign Q2 24 – 07/09 – DocuSign shares have had a disappointing time of it year to date, its shares slightly lower year to date, despite generally seeing their recent quarterly numbers coming in better than expected. They haven't really recovered from the weak guidance it issued at the end of last year when it gave weak guidance for Q1. When DocuSign reported in June, revenues came in comfortably ahead of expectations at $661.4m, while profits came in at $0.72c a share, sending the shares sharply higher initially, but the gains didn't last, even as guidance was upgraded for Q2 revenue of $675m to $679m, while full year revenue forecast was raised to between $2.71bn to $2.73bn.    

In a world where the unpredictable often takes center stage, last week provided no exception. From the surreal landscapes of the Burning Man festival to the bustling stock markets, events unfolded that left people both exhilarated and perplexed. This rollercoaster ride of a week saw stranded festival-goers, restless investors, and soaring airline rankings, all while diamond prices took a dramatic plunge and another Binance executive bid farewell. Let's embark on a journey through the past week's fascinating headlines. Burning Man's Mud-Filled Exodus Thousands of adventurous souls set out for the annual Burning Man festival, eager to immerse themselves in a unique blend of art, music, and self-expression in the arid Nevada desert. However, nature had other plans. A fierce storm swept through the festival grounds, transforming the desert into a mucky quagmire. Festival-goers found themselves stranded in a surreal landscape, battling the elements in a quest to return to civilization. As the desert turned to mud, it was a stark reminder that even the most carefully planned adventures can take an unexpected turn.   Wall Street's Unease Meanwhile, on the bustling streets of Wall Street, investors were grappling with their own set of uncertainties. After a summer rally that saw markets surging to new heights, the fall season brought with it a sense of unease. The latest US jobs report became a focal point, with investors closely analyzing the data for clues about the economy's direction. The Dow led the indices with a 0.33% gain, showcasing its resilience amidst the fluctuations. Asian markets also experienced surges, particularly Hong Kong's HSI, proving that the global financial landscape remains as unpredictable as ever.   Delta's Soaring Success Amidst the turbulence, there was a beacon of success for Delta Airlines. The airline secured its place as the No. 1 domestic carrier in several categories, including on-time arrivals, service quality, and passenger comfort. In an industry often fraught with challenges, Delta's achievement serves as a testament to its dedication to passenger satisfaction and operational excellence.   Xi's G20 Summit Decision On the global stage, Chinese President Xi Jinping made a surprising decision. He opted to skip the upcoming G20 summit in India, instead sending Premier Li Keqiang as the country's representative. This move raised questions and sparked discussions about China's diplomatic strategy and priorities. As the world watches, it's clear that even international politics is not immune to unexpected twists.   Diamonds Lose Their Sparkle In the realm of luxury and glamour, there was a stark contrast as diamond prices experienced a significant and unexpected decline. While diamonds have long been a symbol of wealth and beauty, one key segment of the market saw prices plummet. This shift left industry experts and enthusiasts pondering the reasons behind this sudden change and its potential repercussions.   A Farewell at Binance To add to the week's intrigue, another executive bid farewell to the cryptocurrency exchange giant Binance. This departure is part of a larger trend of key figures leaving the company. Such transitions in the world of cryptocurrency can have far-reaching implications, leaving stakeholders and enthusiasts wondering about the future direction of the industry. In a world filled with surprises, last week's events served as a compelling reminder of the unpredictable nature of life, whether one is reveling in the desert at Burning Man, navigating the turbulent waters of financial markets, or witnessing shifts in global politics and industry dynamics. As we move forward, one thing remains clear: the only constant is change, and embracing the unexpected is the key to navigating the twists and turns that lie ahead.