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As meme stocks once again dominate discourse on Wall Street, a Goldman Sachs basket is benefiting as hedge funds try to cover themselves. Goldman's "short basket," known officially as the GS Most Short Rolling Index, has jumped along with the resurgence of the meme-stock craze seen this week. When the original meme-stock mania took place, hedge funds rushed to cover their short positions as everyday investors squeezed them. GameStop short sellers lost almost $1 billion in Monday's rally. That experience even led to the demise of some hedge funds like Melvin Capital .
Persons: Goldman Sachs, Melvin Capital Organizations: GameStop, AMC, Melvin, LSEG, Wayfair
Celsius (CELH) is an energy drink company that emerged from small cap status in 2020 to a $21 billion market cap company today. The stock carries a hefty valuation, but with the recent breakout following earnings last week I think it can rally even higher. I first wrote about Celsius here on Jan 17 as the stock was gearing up to break through the $63 and $69 resistance levels. The fundamental case Even so, last week's Q1 earnings report was met with some confusion. The chart below shows CELH quarterly revenue growth with the most recent quarter showing a slight lower-high based on that $355 million top line figure.
Persons: Red Bull, we'll, Todd Gordon, Gordon, CELH Organizations: Red, Monster Beverage, Elliott, Pepsi, Tactical Alpha, Inside Edge, Inside Edge Capital Management
We'll review a trade that wins if the market pulls back again. Inflation has been stubbornly high for months, and today's hotter-than-expected producer price index report only reinforces that notion. It is prudent to wait for confirmation of the double-top pattern before considering a bearish trade though. The trade setup: SPY 513-512 Bear Put Spread The trade structure I am using here is called a "bear put spread". BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: SPDR Dow, Nishant Pant Organizations: PPI, CPI, SPDR Dow Jones, Average Trust
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass. Iowa Iowa Neb. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass. Iowa Iowa Neb. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass.
Persons: Dave Langston’s, Langston, , Dave, Linda Langston, Conn ., S.D, N.M, , Dave Jones, Carolyn Kousky, “ It’s, Sridhar Manyem, Bill Montgomery, Kristin Heiges, Eldon Neighbor, That’s, Tom O’Meara, Kelsey Kremer, Reinsurers, Doug Ommen, Brandi Mace Storm, David Storm, Tim Kuehner’s, Brandi Mace Storm’s, haggling, Pekin, Mace Storm, Susan Crisler, Tim Kuehner, Tony J, Larson, Chesleigh Fowler, Kelley Erstine, Mr, Erstine, ” Kevin Walters, California Colorado Utah Washington Matt Child, Matthew Baker, Ariz, ” Mr, Baker, Amy Bach, United, Dave Langston, Ommen, Tim Zawacki, Lyndsey Layton, Douglas Alteen, Claire O'Neill, Matt McCann Organizations: IOWA MINNESOTA SOUTH, COLORADO ARKANSAS, NEBRASKA COLORADO, SOUTH, New York Times, Ark . Iowa Ariz, Minn, La . Iowa Iowa Neb, Neb . Texas Idaho Ga, ND Iowa, S.D . Miss, Wash . Ohio Utah Wis, University of California Berkeley, Treasury Department, Environmental Defense Fund, State, NOAA, Celina Insurance, Secura Insurance, Secura, Homeowners, Swiss, Des Moines Register, Associated, , Iowa, Iowa Minnesota Wisconsin, Pekin Insurance, Pekin, Christensen Group Insurance, Travelers, Nationwide, Indiana Ohio Michigan Illinois, . Arkansas Kentucky Florida Tennessee, Tennessee Department of Commerce and Insurance, , Washington, Wildfire, California Colorado, California Colorado Utah Washington, P Global Market Intelligence Locations: Iowa, IOWA MINNESOTA, IOWA MINNESOTA SOUTH DAKOTA NEBRASKA, COLORADO, COLORADO ARKANSAS KENTUCKY ILLINOIS, IOWA MINNESOTA SOUTH DAKOTA, NEBRASKA COLORADO ARKANSAS, KENTUCKY ILLINOIS, SOUTH DAKOTA NEBRASKA, COLORADO ARKANSAS, Iowa , Minnesota, South Dakota , Nebraska , Colorado , Arkansas , Kentucky, Illinois, Cedar Rapids, Cedar Rapids , Iowa, Marshalltown , Iowa, Florida , California, Louisiana, Iowa , Arkansas , Ohio, Utah, Washington, Colo, Mass, Colo . Calif, Calif, Colo . Ala, Colo ., Mont, Fla, Ark . Iowa, Colo . Ill, S.D, N.D, Conn, Del . Idaho Fla, Miss, Neb ., Ky, Ga, Hawaii Mont, N.M . Iowa Fla, Mont ., La . Iowa, Neb . Texas Idaho, ND, Md, Ill, Wyo, Ill . Idaho, . Ill, Minn, Ind, S.D . Vt, La . Texas Mont, Neb . NC, Neb . Mich, N.M, S.D ., Va . Ore . Ohio Mo . Texas, Tenn, Wash . Ohio Utah, Okla, Tenn . Utah, Wis, S.D . Va . Ore . Ohio Mo . Texas, California, American, U.S, Pennsylvania, Arizona, Wisconsin, United States, Marshalltown, Iowa Minnesota, Iowa Minnesota Wisconsin South Dakota, Celina, Pekin, Des Moines, Minnesota, Illinois , Indiana , Ohio, Illinois , Indiana, Michigan, Arkansas, Kentucky, Tennessee, . Arkansas Kentucky Florida, Georgia , Kentucky, Mississippi, Washington State, California Colorado Utah, Salt Lake City, Phoenix, Flagstaff, it’s, Gilbert, Seattle, Colorado, Florida’s, Central City , Iowa, Georgia
Careers site Indeed will lay off roughly 1,000 employees, or 8% of its workforce. In a memo, CEO Chris Hyams said the company is profitable, but not set up for sustainable growth. Hyams said the cuts are more targeted than last year's across-the-board reduction of 2,200 workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCareers site Indeed says it will lay off roughly 1,000 employees as it looks to simplify its organization.
Persons: Chris Hyams, Hyams, , Mark Zuckerberg's, " Hyams Organizations: Service, Business, Market, Facebook, Meta
OpenAI unveils newest AI model, GPT-4o
  + stars: | 2024-05-13 | by ( Clare Duffy | ) edition.cnn.com   time to read: +5 min
The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched just over a year ago. Rivals including Google and Meta have been working to build increasingly powerful large language models that power chatbots and can be used to bring AI technology to various other products. The OpenAI event came one day ahead of Google’s annual I/O developer conference, at which it’s expected to announce updates to its Gemini AI model. OpenAI executives demonstrate the company's latest large language model, GPT-4o. Free ChatGPT users will have a limited number of interactions with the new GPT-4o model before the tool automatically reverts to relying on the old GPT-3.5 model; paid users will have access to a greater number of messages with the latest model.
Persons: OpenAI, Mira Murati, ” Murati, ChatGPT, “ You’re, Scarlett Johansson, , Sam Altman, it’s Organizations: New, New York CNN, Monday, San, Rivals, Google, Gemini, Apple, Worldwide Developers Conference, Microsoft Locations: New York, ChatGPT, San Francisco
GameStop mentions surge on Reddit, surpassing Nvidia
  + stars: | 2024-05-13 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
GameStop has once again become a hot topic on Reddit 's famed WallStreetBets page Monday after the man who helped make it a meme stock reappeared online. GameStop was the most talked about equity on WallStreetBets by far on Monday, with more than 700 mentions in the last 24 hours. Monday's jump in discussion comes as "Roaring Kitty," the user who helped catalyze the GameStop stock craze in 2021, posted online for the first time in nearly three years. It marked his first post on Reddit or X, formerly known as Twitter, since 2021. Multiple Reddit users shared screenshots of their GameStop positions on the WallStreetBets page following the return of "Roaring Kitty," though it appeared that many posts on the topic were being filtered out.
Persons: Keith Gill Organizations: Nvidia, Trust, GameStop
Cramer's Lightning Round: Don't buy MicroStrategy
  + stars: | 2024-05-13 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon AllianceBernstein's year-to-date stock performance. Stock Chart Icon Stock chart icon Confluent's year-to-date stock performance. Stock Chart Icon Stock chart icon MicroStrategy's year-to-date stock performance. Stock Chart Icon Stock chart icon AeroVironment's year-to-date stock performance. Stock Chart Icon Stock chart icon Albemarle's year-to-date stock performance.
Persons: I'm, We've, AeroVironment, Sterling Organizations: Sterling Infrastructure
How I think about Jim Simons' legacy, and a trade on one of the most successful retailers, Costco, follows. First, a contrarian view in Costco: Costco (COST) is one of the best performing retailers over the past year. Last week, Costco released their four-week retail sales results for the period between Monday, April 8th and Sunday, May 5th. There is only one thing I don't like about Costco, the price. The weak form suggests past market prices, which are generally observable, are fully reflected in stock prices.
Persons: Jim Simons, that's, Jim, James Surowiecki, Francis Galton, Eugene Fama Organizations: Costco, Fund Locations: Costco, U.S, New York, Surowiecki
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: MOO, Katie Stockton Organizations: Deere, Co, Teucrium Wheat, Fairlead, CNBC Pro, Securities
Opinion | Biden Is Doing It All Wrong
  + stars: | 2024-05-12 | by ( Mark Penn | ) www.nytimes.com   time to read: +2 min
I’ve spent decades looking at the behavior of swing voters and how candidates appeal to them, including for Bill Clinton’s re-election campaign in 1996. People usually assume that turning out so-called base voters in an election matters most, since swing voters are fewer in number. And it’s true that in today’s polarized environment, Mr. Biden and Mr. Trump each has about 40 percent of the country in their bases already and nothing will change those people’s minds. Take Michigan, a battleground state where Mr. Trump has led Mr. Biden by as many as three percentage points in the last month. Or Mr. Biden could switch just 125,000 swing voters and win.
Persons: Biden, I’ve, Bill Clinton’s, Trump, Clinton, George W, Bush, Barack Obama, Locations: Israel, America
At the Home of BTS, Turmoil Over a Rising K-Pop Star
  + stars: | 2024-05-12 | by ( Jin Yu Young | ) www.nytimes.com   time to read: +1 min
The video had none of the hallmarks of K-pop. But it included screenshots of chats between two power players in the industry and instantly became the talk of the K-pop world. It was the live broadcast of a two-hour emotional tell-all delivered last month by Min Hee-Jin, the producer of NewJeans, arguably today’s hottest K-pop act. She had called a news conference to dispute accusations of corporate malfeasance by her employer, Hybe, the K-pop colossus behind BTS. And it has cast a cloud over Hybe’s relationship with a rising star, NewJeans, while its biggest act, BTS, is on hiatus.
Persons: Min Hee, Jin, NewJeans,
He was 13 when he first heard about trading stocks. Finally, he filters for volume with the "50-day average volume"— the average number of shares traded daily over 50 days — above 25,000 shares. He had been watching Nvidia's chart since December, and it had a consistent 200-day moving average trend upward. As of January 3rd, it held above its 50-day moving average, bouncing off resistance points around $8.83 and $8.94 with minor pullbacks. The stock had a strong 150- and 200-day average uptrend.
Persons: Leoš, Benjamin Graham's, William O'Neil, Mark Minervini, Norman Zadeh, Mikulka Organizations: Investor's, Gamestop, US, Business, Apple, Nvidia, Mitsubishi UFJ Financial, Holdings Locations: Prague, IBD
Cramer's Lightning Round: Bank of America is a buy
  + stars: | 2024-05-10 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Biogen's year-to-date stock performance. Stock Chart Icon Stock chart icon Kratos' year-to-date stock performance. Micron : "I like Micron, and I like Sanjay Mehrotra [buy, buy, buy!]." Stock Chart Icon Stock chart icon Bank of America's year-to-date stock performance. Stock Chart Icon Stock chart icon Chevron's year-to-date stock performance.
Persons: Kratos, that's, Sanjay Mehrotra Organizations: Micron, of America's, Fidelis Insurance Holdings
In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.
Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S
While he pulled back his price target to $26 from $32, the new target still indicates shares surging 126% from Wednesday's close. Fox's fiscal third quarter results came above Rief Ehrlich's expectations, which she noted were encouraging "amid a difficult linear advertising environment." — Fred Imbert 5:50 a.m.: Wall Street on the sidelines for Airbnb Airbnb's weaker-than-expected forward guidance has analysts worried about the company's growth outlook. Post pulled back his price target by $8 to $160, just 1.3% above where shares closed on Wednesday. Meanwhile, analyst Eric Sheridan moved his price target slightly higher to $130 from $123, suggesting around 18% downside.
Persons: Raymond James ., Jefferies, Dushyant Ailani, Ailani, — Hakyung Kim, Jessica Reif Ehrlich, … Fox, Davidson downgrades, Davidson, Tom White, Tripadvisor, we'd, White, Hakyung Kim, Raymond James Cheesecake Factory, Raymond James, Brian Vaccaro, Vaccaro, Andrew Boone, Shopify, Boone, Fred Imbert, Airbnb, LSEG, Morgan Stanley, Brian Nowak, Nowak, Bank of America's Justin Post, Post, Goldman Sachs, Eric Sheridan Organizations: CNBC, JPM Securities, Cheesecake, Bank of America, Fox, Media, of America, , Factory, Cheesecake Factory, JMP Securities, Bank of America's Locations: Wednesday's, 2H24
Cramer's Lightning Round: AMD is a buy
  + stars: | 2024-05-09 | by ( Julie Coleman | ) www.cnbc.com   time to read: 1 min
Stock Chart Icon Stock chart icon Advanced Micro Devices' year-to-date stock performance. Stock Chart Icon Stock chart icon Southern Copper Corp's year-to-date stock performance. Stock Chart Icon Stock chart icon Corsair Gaming's year-to-date stock performance. Stock Chart Icon Stock chart icon Starwood Property Trust's year-to-date stock performance. Stock Chart Icon Stock chart icon XPO's year-to-date stock performance.
Persons: Lisa Su's Organizations: Devices, Southern Copper Corp, Logitech, Starwood, Starwood Property
Chart of the Day: Roblox
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: RobloxBryn Talkington, managing partner at Requisite Capital Management, joins CNBC's "Halftime Report" to detail her strategy for the beaten-down name.
Persons: Roblox Bryn Talkington Organizations: Capital Management
But the real story from a technical perspective is that this week's move appears to complete a "big base breakout" pattern — a sign of potentially much greater gains in the coming months. This resistance level continued to hold, with subsequent peaks through the end of 2022 and into 2023 all hitting this same price point before rebounding lower. In March of this year, SQSP finally broke above this resistance level around $33.70, which then became a support level in late April. 'Big base breakout' The daily chart shows how often this $33-34 range was tested all through 2023 and into early 2024. One of the key features of a "big base breakout" is a frequent test of the upper end of the trading range.
Persons: Squarespace, SQSP, Alan Shaw, David Keller Organizations: Squarespace Inc, CMT
I think shares of the one-time cloud computing darling are at risk of falling even lower and I will give a bearish options trade to capitalize on it. As CRM matures and growth rates moderate, it simply cannot continue to command the industry-leading valuations it once did and has to face the reality of its fundamentals. This suggests that CRM will likely continue to trade back towards the midpoint of the range in the $210-220 area. This makes a valuation that is 40% higher than the S & P 500 harder to justify when growth rates are slowing down significantly. The trade With earnings in three weeks, CRM options prices are slightly elevated and warrant using a spread to lower the cost of seeking bearish exposure.
Locations: Salesforce
"The Fed is the central bank most able to chart its own course," Citi economist Andrew Hollenhorst said in a client note Wednesday. It was the first time the Riksbank had cut since 2016 and takes its main policy rate down to 3.75%. The Riksbank's move was the second central bank cut of the year, as the Swiss National Bank reduced its key rate a quarter point in March in what was seen as a surprise action. Reductions from the Bank of England and European Central Bank are expected to come next, possibly within a month. "With the exception of Japan, developed markets are embarking on a program of rate cuts," Hollenhorst said.
Persons: Andrew Hollenhorst, BOE, Mark, Bailey, Citi's Hollenhorst, Christine Lagarde, CNBC's Sara Eisen, Lagarde, Hollenhorst Organizations: U.S . Federal, Citigroup, Citi, Sweden's, Swiss National Bank, Bank of England, European Central Bank, Bank of America Locations: U.S, Japan
It's well known that Trump Media stock trades at a premium valuation, but one chart shows just how absurd it is. AdvertisementA lot has been written about Trump Media and Technology Group's premium valuation, but one chart really helps put it into perspective. The social media company, founded by former President Donald Trump, has a market valuation of nearly $7 billion. Another way to value the profitless Trump Media is to compare its current market valuation to its monthly active user base. Since Trump Media's recent stock surge,that valuation has surged to $1,309 per Truth Social user, and at its peak in March, each Truth Social user was worth $1,794.
Persons: Donald Trump's, , Donald Trump, Michael Cembalest, Alex W, Cembalest, Steve Sosnick, MAGA, Sosnick Organizations: Trump Media, Service, Technology, Truth, MSNBC, JPMorgan, Trump, Interactive Brokers Locations: 1,590x
John Leguizamo said that "Encanto" was such a huge success that he received a bonus from Disney. AdvertisementDisney was apparently so pleased with the performance of its 2021 hit animated film "Encanto" that it gave members of the cast bonuses — at least, according to star John Leguizamo. For Leguizamo, one of those was Bruno, the reclusive uncle from "Encanto," a Disney animated film about a Colombian family with magical powers. "It was amazing," Leguizamo told BI. But past the numbers, Leguizamo told Business Insider that "Encanto" was so remarkable because of the specificity of its story.
Persons: John Leguizamo, Leguizamo, Bruno, , that's, Lin, Manuel Miranda, secluding, didn't Organizations: Disney, Service, Walt Disney, Nielsen, Sigma Locations: Colombian
Bank stocks have been in comeback mode since making a key low post the regional bank crisis in 2023. A new breakout could be on the horizon, according to the charts. Two of the most popular bank ETFs are the SPDR S & P Regional Banking ETF (KRE) and the SPDR S & P Bank ETF (KBE) . Both are lagging the S & P 500 in 2024, which is +8.2% YTD. The bottom line is that both KRE and KBE have been forming bullish patterns, and we could see breakout attempts soon.
Persons: KRE, it's, Frank Cappelleri Organizations: JPMorgan, Regional Banking, P Bank ETF
Cramer's Lightning Round: CME Group is a buy
  + stars: | 2024-05-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: 1 min
Stock Chart Icon Stock chart icon Caterpillar's year-to-date stock performance. Stock Chart Icon Stock chart icon C3.ai's year-to-date stock performance. Stock Chart Icon Stock chart icon CME Group's year-to-date stock performance. CME Group : "[buy, buy, buy!] Stock Chart Icon Stock chart icon Tesla's year-to-date stock performance.
Organizations: CME
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