Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

Also, it's almost the last day of the month, which means it's time for the Last Cast Letter. This month, we're examining if real estate is driving obesity and depression rates higher. One-click subscribe to read about "America's Missing Middle," which will drop in your inbox on Sunday.

Plus, our partner has given folks the chance to see bigger and faster moves than the traditional way of buying Bitcoin…

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on Hims & Hers Health (HIMS) over the next 12 months?

🟨🟨🟨🟨🟨🟨 Bullish 🐂

🟩🟩🟩🟩🟩🟩 Bearish 🐻

MARKET MOVERS

KRUS (-23%) Kura Sushi USA’s stock plummeted off the heels of a downgrade from Barclays, which lowered its price target on the stock from $95 to $65 (MB)

AMZN (-2%) Amazon’s stock fell, and its market cap declined to $1.97 trillion after briefly joining the ranks of $2 trillion tech companies on Wednesday (IBD)

FSLR (-10%) Shares of First Solar fell despite Deutsche Bank raising its price target on the stock from $215 to $290 (Investing.com)

SMCI (-8%) Super Micro Computer saw its shares slide, a rare dip for the company, which has seen its stock rise 192% this year (Barron’s)

TSCO (+1%) Shares of Tractor Supply Company rose slightly after announcing it will end its DEI roles and goals following conservative criticism online (WSJ)

TOGETHER WITH PROSPERITYPUB

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OVERHEARD ON THE STREET

YF: Fisker is issuing a voluntary recall for 8,204 vehicles in the US, 513 vehicles in Canada, and 3,806 vehicles in Europe due to malfunctioning door handles.

TC: Amazon announced yesterday that it is folding its Amazon Clinic telehealth service into its primary care business, One Medical.

CNBC: According to a study from JD Power, Tesla is losing its lead over legacy automakers in the quality of its new all-electric vehicle.

MW: Analysts claim Nike is entering a “transitional” year as it wrestles with consumer demand challenges.

BBC: In its first live demonstration, an EV battery developed by Nyobolt can charge from 10% to 80% in four minutes and 37 seconds.

TOMORROW’S TRADE IDEA, TODAY

Joining Forces

Volkswagen (VWAPY) and Rivian (RIVN) have joined forces. In a deal announced Tuesday, the two automakers are teaming up in hopes of utilizing each other’s strengths to address their own weaknesses. 

Rivian is struggling financially and operationally, while Volkswagen’s stock has been bogged down by inefficient use of capital. Ideally, the joint venture will benefit both parties by combining the German automaker’s manufacturing capabilities and cash with Rivian’s EV lineup.

An Influx of Cash

Speaking of cash, VW will start by providing Rivian with $1 billion via a convertible note, with another billion going towards the JV later this year. Then, the German automaker is scheduled to dole out $2 billion in 2025 and 2026. There’s also the possibility of a $1 billion loan for the joint venture down the road. That’s $5 billion total.

Neither company will have full control of the joint operation. It will be run by co-chief executives from both companies and focus on developing the “electrical architecture” of EVs and making them “smart.” This process can prove complicated for older car manufacturers like VW, which is where Rivian comes in.

Will It Benefit Investors?

For this new initiative to benefit VW investors, the automaker will need to cut back on software investments domestically and avoid wasting time and resources on duplication. With Germany’s state of Lower Saxony owning a large stake in the company and a powerful union in the mix, this may prove difficult.

The German automaker does have a history of attempting to fix problems with cash, like its partnership with Chinese EV maker XPeng.

The stock is down 9% YTD and 15% over the past 12 months. Time will tell if this venture will bring success to the carmakers, but VW is putting its money where its mouth is when it comes to innovation.

TOGETHER WITH PROSPERITYPUB

You’ve probably heard from a number of “crypto gurus” about how we’re at the cusp of what could be the greatest crypto bull run in history.

With quotes like that flying around, we’re not surprised that’s the case. But you see… You might not actually want to buy Bitcoin this time around.

That’s because there’s a better way to take advantage of this new bull market… One market expert calls it Crypto’s Hidden Gem

And it’s a new way that has given folks the chance to see bigger and faster moves than the traditional way of buying Bitcoin…

Click Here to get the full details about Crypto’s Hidden Gem

ON OUR RADAR

WSJ: Uber and Lyft agreed to pay drivers in Massachusetts a $32.50 minimum wage while continuing to classify them as independent contractors.

Axios: Pokémon trading cards are the new collecting frontier, with collectors getting millions graded per year and some cards worth well over $250,000.

Forbes: Warren Buffett announced Friday that he is giving $5.3 billion worth of Berkshire Hathaway stock to five charities.

TC: A new FCC rule would make carriers unlock all phones after 60 days in an attempt to make it easier for consumers to switch mobile networks.

NBC: Tractor Supply Company has eliminated its diversity, equity, and inclusion roles and goals following weeks of conservative criticism online.