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- Ohio's $600M Stadium Gamble 🏟️
Ohio's $600M Stadium Gamble 🏟️
Ryan Serkes
March 25, 2025
The
Daily Trade
Hey Daily Traders,
Ohio lawmakers are making waves with a budget proposal to issue $600 million in bonds for a new Cleveland Browns stadium, a move that would significantly increase state funding limits for sports facilities. The proposal has sparked debate and could set a precedent for future projects, as it includes a $1 billion mixed-use development and alternative funding methods like taxing sports-betting companies.
In the stock market, 23andMe's Chapter 11 bankruptcy filing has caught attention, with CEO Anne Wojcicki resigning amid weak demand and a data breach. Meanwhile, China is actively seeking foreign investment to counteract trade tensions, and Cleveland-Cliffs is laying off workers due to the impact of steel tariffs. In the crypto world, ETFs are gaining traction among U.S. financial advisors, signaling a shift towards mainstream acceptance.
Here's what's happening today:
- 🏈 Ohio lawmakers propose $600M bonds for Browns stadium.
- 📉 23andMe files for bankruptcy, Wojcicki resigns.
- 💼 China seeks foreign investment amid trade tensions.
- 🔧 Cleveland-Cliffs to lay off 630 workers in Minnesota.
- 📈 Crypto ETFs gain favor with U.S. financial advisors.
Question
What are your thoughts on Ohio's proposal to fund the new Browns stadium with $600 million in bonds—do you think it's a smart investment or a risky financial move?
Reply to this email with your answer
Real Estate  Ohio legislators have drafted a budget proposal to authorize $600 million in state-issued bonds for a new Cleveland Browns stadium in Brook Park. This would cover a quarter of the estimated $2.4 billion cost, with the rest funded by team owners and local governments. The plan is to repay the bonds through state tax revenue generated by the stadium and surrounding development. However, some experts question the revenue projections, and the proposal includes a contingency fund to address potential shortfalls. The proposal is part of a larger budget plan being reviewed by the Ohio House Finance Committee. If approved, it would raise the limit on state funding for sports facilities from 15% to 30%. The Browns' plan also includes a $1 billion mixed-use development around the stadium. The proposal has sparked debate, with some lawmakers favoring alternative funding methods, such as increasing taxes on sports-betting companies. The outcome could set a precedent for future sports facility projects in Ohio. Key Takeaway
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Stock Market  23andMe has filed for Chapter 11 bankruptcy, citing weak demand for its DNA testing kits and the impact of a significant data breach. The company plans to continue operations during the bankruptcy proceedings while seeking a sale. CEO Anne Wojcicki has resigned to facilitate the sale, with CFO Joe Selsavage stepping in as interim CEO. Wojcicki had attempted to take the company private, but her offers were rejected. The bankruptcy follows a challenging period for 23andMe, including a data breach that affected millions of customers and a settlement over the breach. The company's primary product, a DNA testing kit, struggled to retain customers due to its one-time use nature. Despite these challenges, 23andMe has amassed a large customer base, with many consenting to the use of their data for research. The future of the company remains uncertain as it navigates the bankruptcy process. Key Takeaway
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Stock Market China is actively courting American and European multinationals to invest in its economy, amidst growing global trade tensions. Chinese Vice Premier He Lifeng assured executives from major companies like Apple and Qualcomm that China is open for business and committed to improving its business environment. The move comes as China faces challenges such as a slowing economy, a burst real estate bubble, and retaliatory tariffs from the U.S. China's efforts to attract foreign investment are part of a broader strategy to counteract the economic impact of increased U.S. tariffs and to maintain its position in the global market. The Chinese government is also working to ease market access for foreign investors and promote globalization. This outreach highlights the ongoing strategic economic rivalry between the U.S. and China, with significant implications for global trade dynamics. Key Takeaway
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Stock Market  Cleveland-Cliffs is temporarily laying off 630 workers at two Minnesota mines due to the need to rebalance working capital and manage excess inventory. The decision comes amid ongoing discussions about the impact of President Trump's steel tariffs, which have increased costs for steel consumers. The company plans to monitor market conditions and support affected employees during this period. The layoffs highlight the broader economic impact of trade policies, particularly in the steel industry. Local officials have expressed concern over the economic implications for the community, emphasizing the importance of the mining industry to the region. The situation underscores the challenges faced by companies navigating the effects of tariffs and fluctuating market demands. Key Takeaway
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Crypto  Crypto exchange-traded funds (ETFs) are gaining popularity among U.S. financial advisors, with many planning to increase their holdings. A survey revealed that 57% of advisors intend to boost their allocations to crypto ETFs, reflecting a shift in perception from reputational risk to mainstream investment. The approval of spot bitcoin ETFs and a friendlier regulatory environment under the Trump administration have contributed to this trend. Advisors are particularly interested in crypto equity ETFs, which invest in companies with exposure to the crypto industry. The growing interest in crypto ETFs highlights the increasing acceptance of digital assets in traditional investment portfolios. This trend is expected to continue as more crypto ETFs receive regulatory approval and as the market for digital assets expands. Key Takeaway
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Today's Technical Analysis
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Hold |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Hold | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Hold | WillR Sell | AO Hold |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
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Technical Indicator Information
Relative Strength Index (RSI) | Period: 14 days | Overvalued threshold: 70 | Undervalued threshold: 30
Money Flow Index (MFI) | Period: 14 days | Overvalued threshold: 80 | Undervalued threshold: 20
Williams Percent Range (WillR) | Period: 14 days | Overvalued threshold: -20 | Undervalued threshold: -80
Aroon Oscillator (AO) | Period: 14 days | Overvalued threshold: 75 | Undervalued threshold: -75
Moving Average Convergence/Divergence (MACD) | Period: 26/12/9 days | Overvalued threshold: MACD crosses below MACD Signal | Undervalued threshold: MACD crosses above MACD Signal
Stochastic Oscillator (STOCH) | Period: 14/3/3 days | Overvalued threshold: %K crosses below %D above 80 | Undervalued threshold: %K crosses above %D below 20
Commodity Channel Index (CCI) | Period: 20 days | Overvalued threshold: 100 | Undervalued threshold: -100
Bollinger Bands (BBANDS) | Period: 20 days | Overvalued threshold: price >= upper band | Undervalued threshold: price <= lower band
Parabolic Stop and Reverse (SAR) | Period: variable 50 - 100 days | Overvalued threshold: SAR crosses above price | Undervalued threshold: SAR crosses below price
Triple Exponential Average (TRIX) | Period: 15 days | Overvalued threshold: TRIX crosses below 0 | Undervalued threshold: TRIX crosses above 0
Ultimate Oscillator (ULTOSC) | Period: 28/14/7 days | Overvalued threshold: 70 | Undervalued threshold: 30
Directional Movement Index (DMI) | Period: 14 days | Overvalued threshold: PlusDI crosses below MinusDI | Undervalued threshold: PlusDI crosses above MinusDI
Average Directional Index (ADX) | Period: variable 14 days | Requirement: >= 25
Analysis is only performed on securities with market caps in excess of $100 million and with daily trade volume in excess of $50 million.
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