🪙 NFTs miss the rally

…and Trump's tariffs have avocado lovers shaking

(Noam Galai/Getty Images) The apes are even more bored Presented by Hey Snackers, Today Oxford reveals its word of the year, a term it believes captures the tone of 2024 (last year it was "rizz"). Its short list reads like a TikTok comments section with "slop," "brain rot," and "demure." The S&P 500 and Dow closed at record highs during Friday's shortened trading day. Consumer spending rose more than expected in October, though inflation picked up a bit. ♐ Quizatarrius szn: New month, new Snacks Seven quiz to keep your brain warm. Here's the first q: Where is the world's most expensive shopping street? (Check your answer.) WANGMI Kraken shuts down its NFT marketplace as digital tokens miss the crypto rally Bored with the apes… and their yacht club. Kraken shut down NFT trading on its platform last week and said it planned to shutter its non-fungible-token marketplace in February, after which users will no longer be able to withdraw their NFTs. The crypto exchange rolled out its market for the digital tokens (picture: Bored Apes, CryptoPunks, Meebits) two years ago, nearly a year after NFT-trading volume peaked. Now it's closing shop as NFTs struggle to hitch a ride on the crypto rally that's seen the price of bitcoin home in on a record $100K. It's a blockchain party… and NFTs lost the invite. Bitcoin, along with alts like ethereum, solana, and cardano, and meme coins such as dogecoin and shiba inu, have all seen big price pops in the past month. So have crypto-linked stocks, including bitcoin miners Marathon Digital, Riot Platforms, and Core Scientific. Crypto's total market cap jumped by $1T in the past month — up to $3.3T. Helping to drive the rally:  The Trump pump: Crypto's been celebrating since Trump's win a month ago. The hope: his crypto promises (think: bitcoin "stockpile," "made in the USA" BTC) will deliver #gains. Friends in high places: After spending millions during the election to boost pro-crypto candidates, the industry expects friendlier regulations, especially now that SEC Chair Gensler, who led a crypto crackdown, is stepping down. Mainstream-ization: Mainstream exchanges like Robinhood have listed more coins, and crypto slid into TradFi's DMs with options on spot bitcoin ETFs going live last month. (FYI: Sherwood Media is an independent subsidiary of Robinhood Markets. THE TAKEAWAY A rising tide can miss some boats… Bitwise's "blue chip" NFT collection index is up 70% over the past month — but down nearly 72% since its inception in December 2021. NFT's relatively paltry postelection pop, and the closing of Kraken's marketplace, suggest that the recent bout of crypto-market exuberance may have a limit. It's TBD how long the rally will last. Read this online Presented by Atombeam There's one software update even more overdue than your IOS… Data with destiny… We're generating massive amounts of data. Existing storage capacity will soon hit a limit — so Atombeam is working on an AI-powered, software-based solution for machine communication. Atombeam's Neurpac and Neurcom technologies are force multipliers for machine data communications. Light and powerful, these could work on almost any device — and the potential scope is impressive: Most computers could be up to 4x faster with Neurpac, and aims to fix IoT security issues (98% of IoT data is still unsecured!). Neurcom may enable more efficient AI: faster machine learning that uses less power. Making waves… Atombeam is gaining attention from some big names in the tech space, with NVIDIA, Intel and Viasat as industry partners.1 Plus, Atombeam is already underway with $2.4M in defense contracts awarded by the US Air Force and US Space Force. Learn more about investing in Atombeam before the raise closes on Dec 18.2  1 The partnership relationship varies between companies and can include the following: inclusion on a preferred vendor list, invitations to participate in certain forums; listed on the other company's website, and introduction and networking opportunities. Presented by Atombeam There's one software update even more overdue than your IOS… Data with destiny… We're generating massive amounts of data. Existing storage capacity will soon hit a limit — so Atombeam is working on an AI-powered, software-based solution for machine communication. Atombeam's Neurpac and Neurcom technologies are force multipliers for machine data communications. Light and powerful, these could work on almost any device — and the potential scope is impressive: Most computers could be up to 4x faster with Neurpac, and aims to fix IoT security issues (98% of IoT data is still unsecured!). Neurcom may enable more efficient AI: faster machine learning that uses less power. Making waves… Atombeam is gaining attention from some big names in the tech space, with NVIDIA, Intel and Viasat as industry partners.1 Plus, Atombeam is already underway with $2.4M in defense contracts awarded by the US Air Force and US Space Force. Learn more about investing in Atombeam before the raise closes on Dec 18.2  1 The partnership relationship varies between companies and can include the following: inclusion on a preferred vendor list, invitations to participate in certain forums; listed on the other company's website, and introduction and networking opportunities. ZOOM OUT Stories we're watching #Tarrified… Trump's plan to slap 25% tariffs on imports from Mexico and Canada — the US's largest trading partners — could affect about $900B worth of goods, from oil and cars to avocados and beer. Trump has said he wants to use tariffs to pressure countries to prevent illegal immigration and stop drugs from entering the US. After speaking with Trump, Mexican President Claudia Sheinbaum walked back comments on retaliatory tariffs, saying a tariff war would be averted. Economists say that Trump's tariffs would lead to consumer price increases. Companies including Walmart and Best Buy have already said they might raise prices. DEI wind-down… Walmart became the biggest company so far to shut down diversity, equity, and inclusion initiatives following criticism from conservative activists, and Amazon and Target are being pressured to follow suit. Walmart plans to review supplier diversity programs, pull out of an LGBTQ+ inclusion index, wrap up a $100M racial-equity commitment, and stop saying "Latinx." Conservatives have ramped up DEI-related lawsuits and boycotts since the Supreme Court ended affirmative action last year, and Ford, Lowe's, and Tractor Supply are among companies that've rolled back DEI policies. EVENTS Coming up this week Chewin' on Lamb Chop toys… Chewy topped earnings estimates in August as its paw-rents spent a record amount on their furry companions. Its autoship revenue (most of its sales) grew 6% to $2.2B as owners restocked must-haves like pet food. More folks ordered through Chewy's app, which reached 20M active users. The retailer said the app is a major opportunity for growth and retention. Wall Street thinks the pet supplier can bark up more earnings growth when it reports Wednesday. Bang for your buck… Discount retailers Dollar Tree, Dollar General, and Five Below report this week after months of slowing sales and executive shakeups. They all slashed their annual outlooks after weak second quarters, and shares of all three are down about 50% this year. Hurting dollar stores: slower spending from customers with lower incomes and tough competition from price-slashing retail biggies like Walmart and Target. Still, the dollar footprint is expanding: DT and DG are set to open a combined 1.3K new stores this year.  Presented by FinanceBuzz Auto Insurance Companies Hate When You Do This (But They Can't Stop You) You could be wasting hundreds every year on overpriced insurance. Check out this new tool from FinanceBuzz to see if you're overpaying in just a few clicks! Once you use it, you'll always have access to the lowest rates; best yet, it's free.  Some drivers are reporting saving up to hundreds per year! Answer a few easy questions to see how much you could be saving. Presented by FinanceBuzz Auto Insurance Companies Hate When You Do This (But They Can't Stop You) You could be wasting hundreds every year on overpriced insurance. Check out this new tool from FinanceBuzz to see if you're overpaying in just a few clicks! Once you use it, you'll always have access to the lowest rates; best yet, it's free.  Some drivers are reporting saving up to hundreds per year! Answer a few easy questions to see how much you could be saving. WORTH A READ Bluesky engagement seems to be punching way above its weight While Meta pushes every Instagram user to Threads and X tries to shore up a disintegrating userbase, the plucky indie social network is picking up steam because people actually seem to be using it. Read more. What else we're Snackin' Australia became the first country to ban social media accounts for children under 16. The SEC rewarded two whistleblowers with a $98M payout in August, and it's only the agency's fifth-largest award. Ringtones may seem like a Y2K relic, but ringtone apps are still dialing up millions in downloads and revenue. Up and Atom… Atombeam is reimagining machine communication with AI-powered software that has captured the attention of major tech players. 3K investors are already in on this round — become an Atombeam shareholder until 12/18.2 Ad Snack Fact of the Day December is the most popular month for engagements This Week Monday: Cyber Monday Tuesday: Job openings. Auto sales. Giving Tuesday. 30th anniversary of Sony launching PlayStation. Earnings expected from Salesforce and Okta Wednesday: ADP employment. Fed Beige Book. Earnings expected from Chewy, Foot Locker, Dollar Tree, Cracker Barrel, Campbell, Hormel, American Eagle Outfitters, and Five Below Thursday: Initial jobless claims. Earnings expected from Dollar General, TD Bank, Build-A-Bear Workshop, Signet Jewelers, Kroger, Lands' End, Lululemon, DocuSign, Ulta, Hewlett Packard, and Victoria's Secret Friday: Employment data. Consumer sentiment. Consumer credit Authors of this Snacks own bitcoin, dogecoin, ethereum, and shiba inu and shares of: Amazon, Apple, Riot Platforms, Robinhood, Target, Ulta, and Walmart Advertiser's disclosures: 2 This is a paid advertisement for Atombeam's Regulation A+ Offering. This Reg. A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. Please read the Offering Circular and related risks at Atombeam's webpage on StartEngine before investing.  In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion. This was a paid for ad. Sherwood Media has been compensated for this ad by the Atombeam Reg A+ Campaign hosted on StartEngine. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities. Was this email forwarded to you? Don't miss out on future stories — subscribe to Snacks and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and The Wrap for quality reads. Want to dive deeper with our podcast? Catch the latest episodes of Snacks Mix on Spotify or Apple Podcasts. Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy