$TSLA is no longer an "amazing business" in all due respect. The business sucks! Revenues downtrending, margins collapsed, net income collapsing, sales around the world off a cliff. At some point people have to start looking at financial statements and not hype.
@PierrePoilievre Details? Income tax reduction of 15% for all salary brackets or just lower income folks??
This country only wants to take money from high income earners at highest tax rate and just distribute free goodies to low income earners (your votebank) @PierrePoilievre
@PeterSchiff Absolutely agree, Elon should also look at this part of corruption with his DOGE.. Double faced bastards are running the show, he would turn a blind eye to this manipulation while shit talking other stuff.
@DrProfitCrypto I joined premium March 2024.. The biggest advantage was to not be worried and avoid panic selling. The signals Doc gives, make you confident and ahead of the market.. If it wasnt for Doc, i am 100% certain i would have sold btc at 72k! No brainer to join lifetime
A TON OF THINGS HAPPENED TODAY IN THE STOCK MARKET.
Here's a full recap:
1. $TSLA Tesla went down 4% on news that the California was planning to introduce a new EV credit to replace the Federal $7500 EV Credit that is potentially going away when President Elect Donald Trump takes office. However, Bloomberg reported that the office of the governor in California said certain models from Tesla would be excluded from the tax credit because, "It's about creating the market conditions for more of these car makers to take root." Elon Musk responded by saying: "Tesla is the only one making cars in California, so this move hurts jobs in California."
2. MicroStrategy $MSTR acquired 55,500 $BTC at $97,682 per Bitcoin, bringing its total holdings to 386,700 $BTC at an average price of $56,761. They purchased approximately 80,000 $BTC over the past two weeks and around 130,000 $BTC in the past four weeks. $MSTR ended the day down 5%. TD Cowen issued a Buy on $MSTR and wrote: “MicroStrategy represents a new kind of firm - the world's first publicly traded Bitcoin Treasury Company - that converts market appetite for volatility and return - on an effectively leveraged basis - into Bitcoin. What started as a defensive strategy to protect the value of its reserve assets has become an opportunistic strategy intended to accelerate the creation of shareholder value. MicroStrategy intends to continue acquiring and holding bitcoins via proceeds of debt and equity offerings.”
3. $PLTR was upgraded to $75 from two Wall Street firms, Wedbush and Bank of America, on the backs of more commercial use cases for AI, stronger government growth, and a deepening moat. Bank of America wrote: "We think Palantir’s penetration in both government and commercial applications is in the early innings. The incremental value-adding use cases and increased interoperability are critical for continued penetration and upselling opportunities." President Elect Donald Trump also met with Trae Stephens, co-founder of Anduril and former Palantir $PLTR engineer, signaling many to believe that modern defense tech companies like Anduril and Palantir could play a big role in the next administration.
4. $HOOD Robinhood got their second price target increase into the $50 range. Last week, Bernstein was the first firm to raise Robinhood to $51. Today, Morgan Stanley raised $HOOD from $25 to $55. Morgan Stanley's wrote: "Revenue growth looks stronger post-election, driven by sustained retail trading, broader support for crypto, revived animal spirits, and increased M&A activity. HOOD is executing on plans to broaden its offerings, capture more wallet share, and expand its TAM, highlighted by the acquisition of an RIA custody platform. While shares are up over 100% YTD, we see further upside due to a discounted valuation, a faster pace of new initiatives, and post-election market dynamics likely supporting revenues into 2025. This environment should also shift focus to HOOD’s long-term potential." Robinhood also listed popular Solana $SOL based meme coin, DogWifHat, $WIF, today. The company will likely continue to list more coins and build crypto products without the fear of the SEC getting upset as the new administration is beginning to have a more pro-crypto stance.
5. Donald Trump has announced his intentions to tariff China, Mexico and Canada across most or all of their products. He wrote: “We will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America. On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders.” Futures were down -0.3% on the headline.
6. $HIMS hit an all time high today at $31.45, going up 24% and recovering all of their losses from last week when they fell to $17 after reports came that $AMZN was entering into the telehealth subscription space. Some investors are still debating if $HIMS has a moat that can be defended against competition from Amazon, others are arguing that there is a large enough TAM for many players to succeed and the personal customization that $HIMS offers will be enough for them to continue to growth. $HIMS is now up 225% YTD.
7. $SOFI passed $16 for the first time in over 3 years, hitting a high of $16.15 on volume of 49.7M shares. Last week, CEO Anthony Noto showed more progress with their tech platform, Galileo, securing a new deal as it was part of the team selected by Treasury's Bureau of the Fiscal Service for Direct Express. Investors are hoping that 2025 will be strong for financials and act as a tailwind for $SOFI while also beginning to see more growth in their tech platform. SoFi is $1B in market cap away from being eligible to be included into the S&P 500 index next year.
8. We have a little over one month of 2024 left, but so far into 2024, investors have poured a record $448 billion into U.S. equities year-to-date, nearly double the combined inflows of 2022 and 2023 and surpassing the previous record from 2021 of approximately $400 billion. Last Thursday was the first time money market funds showed outflows since Trump got elected. The outflows were $22B that potentially made their way into the stock and crypto markets, but $6.5T still remains on the sidelines.
9. Raymond James listed $META as an analyst favorite at the firm and gave them a Strong Buy with a $675 PT. They wrote: "Meta is poised for an improving AI/GenAI monetization narrative in 2025 as we expect tailwinds including recommendation model (DLRM) advancements to drive up engagement by a mid-single to low-double digit amount. We also believe engagement with Meta AI (>500M MAU) will take shape, opening up a $10B+ search/assistant opportunity in 2026 within select verticals (e.g., travel and entertainment)."
10. Gold $GLD fell by 3.45%, its biggest decline since June 17, 2021.
11. Cathie Wood's $ARKK today sold 26,047 shares of $PLTR, 20,552 shares of $TSLA, 116,850 shares of $RKLB, and 487,850 shares of $SOFI, while buying 19,747 shares of $AMZN and 10,753 shares of $AMD.
12. $NVDA fell 4% today on 2 reasons that investors are assuming: 1.) Bloomberg published an article indicating that $AMZN was working on chips that would allow them to eventually stop having to buy from Nvidia, signaling that more hyper scalers potentially are working on a way to not have to pay $NVDA and 2.) money may be moving from the semis into the software plays. $SMH, the semiconductor ETF that has names like $NVDA $AMD $AVGO $MU $TSM, is down 4% over the past month. $IGV, the software ETF that has names like $CRM $ORCL $PLTR $SNOW $ADBE, is up 14% over the past month. $SMH is up 44% YTD and $IGV is up 34% YTD, so semis are out performing, but some investors feel money is going to start transitioning into the software applications of the chips that these semiconductor companies are creating, which could explain semis struggling over the past month.
WALL STREET IS THE GREATEST SHOW ON EARTH.