MOGU

U.S. Stock Market Performance: U.S. stocks saw gains, with the Dow up 1.32%, Nasdaq rising 0.72%, and S&P 500 increasing by 0.80%. Consumer discretionary shares led the rise, while communication services stocks experienced a slight decline.

Kroger's Earnings Report: Kroger reported better-than-expected second-quarter earnings, with adjusted EPS of $1.04, surpassing estimates. The company also raised its FY25 adjusted EPS outlook and projected a sales increase.

Notable Stock Movements: MOGU Inc. shares surged 110% after a digital currency allocation announcement, while Opendoor Technologies and Vince Holding Corp. also saw significant gains. Conversely, Robin Energy Ltd. and Avidity Biosciences experienced sharp declines.

Global Market Trends: European shares rose, with the eurozone's STOXX 600 up 0.47%, while Asian markets closed mostly higher. Economic indicators showed a 2.9% rise in the Consumer Price Index and an increase in initial jobless claims.

MOGU's Investment in Digital Currencies: MOGU Inc. plans to invest up to $20 million in digital currencies like Bitcoin, Ethereum, and Solana to diversify its treasury assets, with the board approving this initiative on September 9.

Financial Performance and Stock Surge: The company reported a 3% year-over-year revenue increase to RMB79.4 million, but faced a nearly 29% decline in gross merchandise value (GMV) related to live video broadcasts. Despite these challenges, MOGU's shares surged over 120% to $5.51.

S&P 500 Exclusion: The S&P 500's decision not to include the company formerly known as MicroStrategy, now called MSTR, raises concerns about the viability of corporate treasury investments in cryptocurrency.

JPMorgan's Insight: JPMorgan strategists, led by Nikolaos Panigirtzoglou, view the S&P Dow Jones Indices' exclusion of MSTR as a significant move, despite the company meeting size and other criteria for index inclusion.