By Brandon M. Suffel Contributor for Breakfast at Midnight April 20, 2020
Netflix shares have an excellent day. They report their earnings for Q1 after the closing bell tomorrow 21 April. Pot stocks amid 4/20 display high results after the bell. And Oil futures–extraneous to the bullish volatile jerks today–experience their worst day since 1982 and the egregious Oil futures bottoms of then.
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Netflix-flexing on the other stocks on the market today on 20 April before their Q1 ER which are to be reported after the closing bell on 21 April. It isn’t uncommon or be-known that almost everyone is at home glued their favorite shows on Netflix. I for one am merely doing the so simple, accompanying the 167 million subscribers doing just that. It is certain there will be more subscribers using streaming platforms like Netflix since cable lacks sportscasting–now becoming almost extinct to the world of television approaching May. Albeit a new sports related documentary miniseries stunted enormous attention. A new release highlighting the Chicago Bulls 1997-1998 roster, The Last Dance, attracted positive reviews since its airing last night on ESPN 19 April. Since the debut, The Last Dance has earned itself a prosperous score of 100% rotten tomatoes. And eight episodes still remain in the miniseries. Devoted sports fanatics and religious basketball followers await for the next two episodes, airing late Sunday, 26 April. In the meantime, make sure to binge your ideal Netflix series until then.
Are you high right now?
Even though we’re experiencing arguably the worst period of time in our lives, it’s certain that today’s still the beloved holiday for weed-loving-and-smoking stoners world-wide, 4/20. Dispensaries nationwide are crowded with enthusiastic pot lovers who wish to let loose and get high then think about the good times. As I’ve mentioned before, “pot stocks” have experienced abeyance from the rest of the market crew. Their nimble ER’s and infelcitious performances have drawn the ensconce of abandonment. Today, however, my favorite pot stocks performed exquisitely. And hopefully, I won’t give up on them after today, since the weather has significantly turned beautiful from distasteful.
Aurora Cannabis Inc. $ACB shares broke $0.71/share overall jumping (+3.47%) today. Canopy Growth Corporation $CGC almost broke $15.25 a share (+0.99%). And the best report comes from Tilray, Inc. $TLRY (+4.44%).
Yes, I’m asking you, Oil.
How do you explain what happened to Oil futures today, in one word?
The future prices of our Oil fell negative as speculations burst. Some consisting of outrageous claims our storage of oil’s run out… Give me a break.
The oil contracts are negative. Period. And these contracts have a specific date for delivery. Companies who use oil, rely on these contracts. For instance, the airline companies who use oil to fuel their jets and airplanes!
NOT ALL OIL IS FREE. NOTHING IS FREE.
Oil (WTI) = Western Texas Intermediate crude Oil contract.
CNBC – With the coronavirus pandemic leading to unprecedented demand loss, and with storage tanks quickly filling up, there is no demand for this oil contract expiring Tuesday (MAY 2020 CONTRACT). That’s why it turned negative, meaning producers would pay to get this oil off their hands because there is no one that needs that crude this week with the country shutdown.
CNBC – Futures contracts trade by the month. The contract for June delivery was 16% lower at $21.04 per barrel.
CNBC – So after the May contract expires on Tuesday, oil could be back above $20.
OIL (WTI) $CL_F rests at
$13.10Dropping (-172.30%) or