In 2021, JPMorgan Chase CEO Jamie Dimon circulated a memo to his top management team.
In that memo, he said they should be “scared s—less” about the fintech threat.
I’m here today to tell you that Dimon is worried about the wrong threat.
In this short video, I explain how the DeFi industry is reinventing what it means to be a bank.
(If you’d prefer to read a transcript, click here.)
Regards,
Editor, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
Vinco Ventures Inc. (Nasdaq: BBIG) is a consumer products and digital marketing company that is up 28% this morning. The move came after the company announced the date for the previously planned spin-off of its blockchain technology business, Cryptyde.
Swvl Holdings Corp. (Nasdaq: SWVL) provides mass-transit ride-sharing services. The stock is up 23% after the company struck a deal to acquire Zeelo, a smart bus platform that would expand Swvl’s presence to 21 countries.
Funko Inc. (Nasdaq: FNKO) designs, sources and distributes licensed pop culture products internationally. The stock jumped 21% on the news that the company received a $263 million investment from a consortium led by the Chernin Group.
Jounce Therapeutics Inc. (Nasdaq: JNCE) is a clinical-stage immunotherapy company that develops therapies for the treatment of cancer. The stock is up 17% after analysts at Raymond James upgraded the stock to a strong-buy rating following its first-quarter report.
DMC Global Inc. (Nasdaq: BOOM) provides a suite of technical products for the energy, industrial and infrastructure markets worldwide. It is up 17% after the company reported first-quarter results with strong revenues that were driven by its recent acquisition of an architectural building products company.
Stem Inc. (NYSE: STEM) provides artificial intelligence-driven energy storage networks and related services. The stock is up 15% after the company managed to beat expectations for the first quarter and deliver revenues above previously provided guidance.
AvidXchange Holdings Inc. (Nasdaq: AVDX) provides accounts payable automation software and payment solutions for middle-market businesses and their suppliers. It is up 14% after the company reported better-than-expected results for the first quarter and raised its guidance for the full year.
BellRing Brands Inc. (NYSE: BRBR) offers ready-to-drink shake and powder protein products primarily under the Premier Protein and Dymatize brands. It is up 14% after the company delivered both a top- and bottom-line beat for the second quarter.
ChemoCentryx Inc. (Nasdaq: CCXI) focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases and cancer. The stock is up 13% despite missing analyst estimates for both revenue and earnings in the first quarter.
Turtle Beach Corp. (Nasdaq: HEAR) develops and markets gaming headset solutions for various platforms, including entertainment consoles, personal computers and mobile devices. It is up 13% after it informed shareholders that it is considering a sale of the business.
