♦️Ethereum's Q1 2024 Earnings Soar as Transaction Fees Hit $1.2B🚀

Happy Tuesday, Bullseye Traders! 

Ethereum ($ETH) is riding high on a wave of profits, giving Bitcoin a run for its digital money. While Bitcoin plays the role of digital Fort Knox, Ethereum's network not only handles transactions but also sizzles them away, akin to Visa ($V) or Mastercard ($MA), but with the added flair of decentralization. If it were a business, Ethereum would be the Elon Musk of software companies, flaunting a 45% profit margin, according to venture capitalist Tomasz Tungus.

As Q1 2024 drew to a close, Ethereum pocketed a cool $1.17 billion in fees — resulting in a net profit surge of around $370 million. With a market cap of nearly $350 billion, Ethereum stands tall, rivaling the likes of Salesforce ($CRM) and dwarfing Snowflake ($SNOW) seven times over.

But wait, there's more drama than a superhero flick! While Bitcoin has been flexing its muscles, with a 115% surge over the past year, Ethereum is playing the Robin to its Batman with a still-impressive 66% increase. Bitcoin's rise is credited to its halving and the arrival of spot Bitcoin ETFs, which have sucked in $13.6 billion in investments as of April. However, Ethereum may be gearing up for its own solo adventure — that is if the regulators play nice.

The Securities Exchange Commission has until May 23 to give the nod to a slew of spot Ether ETFs, but the betting odds aren't exactly in Ethereum's favor. CoinFund's President, Christopher Perkins, has a bit of a split personality on the matter: "I’m 100% sure that it gets approved; I’m not 100% sure when." Ah, the suspense!

SHAKERS AND MOVERS

SoFi, Phillips, & Apple

SoFi (-10%): Looks like SoFi is having a "So-So" moment with its earnings outlook, proving that even personal finance can't always balance the books. (WSJ)

PHG (+27%): Phillips' settlement seems like a case of "sleeping" through a bargain. Who knew sleep apnea devices could be such a dream for investors?(Fortune)

AAPL (+2%): Apple's rise has investors saying, "An apple a day keeps the losses away." Looks like being like Buffett might just be the core of a fruitful investment strategy. (Investopedia)

DPZ (+6%): Domino's Pizza serving up some sizzling earnings, proving that in the world of fast food, there's always dough to be made. (WSJ)

ROKU (+4%): Roku's stock getting a boost from an analyst who sees it as a "stream" of opportunity in an oversold market. Looks like investors are tuning in for some binge-worthy gains. (Barron’s)

STREET SCOOPS: The Buzz Around Town

Fortune: Blackstone's latest move: snapping up Hipgnosis Songs Fund for $1.6 billion, aiming to make music rights the hottest asset since sliced bread.

Bloomberg: Boeing's bond sale soaring to $77 billion, proving that even after a turbulent quarter, investors still have faith in flying high with the aerospace giant.

CBS: Republic First Bank's closure signals the first note of discord in 2024's banking symphony, reminding us that even in finance, not every note hits the right key.

WSJ: Ford's hands-free driving system under the regulatory microscope after a rocky road, with crashes prompting a safety investigation that's hitting the brakes on its autonomous ambitions.

CNN: The US government assembling the Avengers of AI safety, with the CEOs of OpenAI, Google, and Microsoft set to join forces, ensuring that our technological future stays firmly in superhero mode.

Hey guys, we’ve been on a hot streak and our last swing pick generated ALMOST 4+% 🔥 

Did you get it?

If not, keep reading… 👇🏽

Over the past 150 trades, we boast an 81% success rate for our premium members! With the Bullseye Trades premium membership, we streamline stock selection, consistently offering fresh stock picks and insights to simplify the process for our members. As a premium subscriber, you gain instant access to the swing trades that we are actively taking allowing you to minimize the time spent navigating the complexities of the market and focus more on doing what you love to do.

Here are the last 5 swing trades we recently closed 🎯 

Our next alert is going out later today, don’t miss it 🤝 Click below to join 👇🏽

From yours truly 👋🏼