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Weekly Buzz
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Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses

Source: GIPHY
Source: GIPHY
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the top ten buzzing stocks on moomoo based on search and message volumes! Comment below to answer the Weekly Topic question for a chance to win an award!
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Weekly Buzz
This week saw the market hit all-time highs again, with the S&P 500 and Nasdaq hitting records Wednesday.
By Friday,  the $S&P 500 Index(.SPX.US)$ climbed 1.32%, the $Dow Jones Industrial Average(.DJI.US)$climbed 0.29%, and the $Nasdaq Composite Index(.IXIC.US)$ climbed 2.38%  for the week.
Investors watched for macro data in the form of job market updates, and by Friday, it was clear that nonfarm payrolls had grown in May from April to 272,000 compared to 182K expected. According to the Labor Department, that's about 100k more than the economy added in April. The unemployment rate climbed to 4% for the first time in more than two years, up from April's 3.9%.
On Thursday, initial jobless benefit claims climbed to a four-week high of 229,000. Wednesday, ISM Non-Manufacturing PMI climbed higher than forecast. S&P PMI came out as expected. Sifting through this employment data, investors are looking for signs the job market will fall and push the Fed to lower interest rates. Early jobs data looked promising for that result, but by Friday, it was clear the labor market was still kicking and strong.
Monday saw some trading issues for stocks like $Berkshire Hathaway-A(BRK.A.US)$ that were temporarily halted before 10 a.m. in New York after a technical glitch that sent shares in the company led by billionaire Warren Buffett tumbling as much 99.97%. The New York Stock Exchange said the technical problem that also affected $Barrick Gold(GOLD.US)$, $Chipotle Mexican Grill(CMG.US)$ among other stocks, was resolved.
Crude oil fell to a new four-month low Tuesday and throughout the week after the Organization of Petroleum Exporting Countries and its allies, known collectively as OPEC+ said it plans to roll back the voluntary production cuts starting in the fourth quarter.
Both Gold and Silver fell throughout the week due to interest rate cut possibilities and the dollar index. Bitcoin, in general, climbed this week, surpassing $70k after Tuesday.
Anyway, let's dive into the buzzing stocks this week:  
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
1.  - Buzzing Stars: ⭐⭐⭐⭐⭐
The biggest news for the week was outside of market-moving macro data: On Friday, Roaring Kitty held a live stream to talk about GameStop, briefly sending the stock up 20%. Earlier in the week on Sunday, Kitty, or Keith Gill posted his alleged holdings in the stock, amounting to $180M in stock, and millions held in June 16th expiry calls that would enable him to buy the stock at $20/share.  
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
The day of the stream, GameStop released its earnings for the quarter about three trading days early, showing a 12C loss and disappointing investors, sending Kitty's bet lower, and he went live to watch the stock hit -38% on the day, and his supposed holdings hitting -$250M from their height Thursday night.
Kitty joined the call pretending to be in a cast and connected to a fake pulse machine as if the markets had physically hurt him.
Gill drank throughout the stream. Edited to show Gill in front of Moomoo's new beta desktop
Gill drank throughout the stream. Edited to show Gill in front of Moomoo's new beta desktop
@73214135 : this dude talked about nothing. curious to see if he's hodling.
2. $NVIDIA(NVDA.US)$ Buzzing Stars: ⭐⭐⭐⭐
Nvidia shares climbed 5.2% to a record $1,224 Wednesday, taking the firm's market cap $3.012 trillion. That surpassed $Apple(AAPL.US)$'s $3.003 trillion valuation. The stock is due to a shareholder-approved 10-1 stock split Friday, which would send the price from $1200/share to $120 for ten shares.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
@JonSnow: pros seem to be happy to buy at 1200 before split
3.   $Faraday Future Intelligent Electric Inc.(FFIE.US)$ - Buzzing Stars: ⭐⭐⭐⭐
Faraday Future's stock fell all week but jumped 20% Friday as trading volume jumped over 100 million shares for the day. According to moomoo, 227 contracts on the stock changed hands Friday alone, over half of which were set to expire the same day, called Zero Days to Expiration, or 0DTE. The stock is down 60% from its recent height above $3/share.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
@OptionsKing: I told you to short at .75
4.   $AMC Entertainment(AMC.US)$ - Buzzing Stars: ⭐⭐⭐⭐
AMC shares jumped 20% for the week Friday in anticipation that a spike in GME would help another meme stock along, but shares ended the day down 15%.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
@F HALE: shorted to death
5. $MicroAlgo(MLGO.US)$ - Buzzing Stars: ⭐⭐⭐
$MicroAlgo(MLGO.US)$ shares skyrocketed by 656.94% Tuesday after it announced a partnership with $WiMi Hologram Cloud(WIMI.US)$ to create a micro-consciousness $Quantum(QMCO.US)$ research center. The stock has since fallen 63%, down 20% Friday alone. The firm is a $10m market cap tech company that builds "central processing" algorithms.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
@Xunqi: who are the investors that signed the convertible note purchase?
6. $Tesla(TSLA.US)$ - Buzzing Stars: ⭐⭐⭐
Elon Musk confirmed that many $NVIDIA(NVDA.US)$ chips initially intended for $Tesla(TSLA.US)$'s electric-vehicle production were diverted to X Corp. due to logistical challenges.
"Tesla had no place to send the Nvidia chips to turn them on, so they would have just sat in a warehouse," Musk said.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
Musk's post was in response to a CNBC report earlier Tuesday that cited a December memo from Nvidia last year saying that 12,000 of Nvidia's H100 graphics processing units, its flagship artificial intelligence chip, meant for Tesla were redirected to X.
In other news, the firm wants to pay as little as $13.6 million to the legal team that got Chief Executive Elon Musk's $56 billion pay package voided, against a $5.6 billion legal fee they requested, Reuters reported Friday, citing court documents.
@Earning Lunch Money: the selling slow down alr the price still stuck
7. $NIO Inc(NIO.US)$ - Buzzing Stars: ⭐⭐⭐
Nio reported its first-quarter revenue decline from the year before as the Chinese automaker delivered fewer vehicles.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
The company's adjusted loss narrowed to 2.39 renminbi ($0.33) per American depositary share for the March quarter from 2.51 renminbi a year ago. Three analysts polled by Capital IQ expected a per-share loss of 2.82 renminbi. Revenue fell 7.2% to 9.91 billion renminbi, while five analysts estimated 10.45 billion renminbi.
@Teck Wang Pang PaPa:  June hope to be a blast too or better than may
8. $Greenwave Technology Solutions(GWAV.US)$ - Buzzing Stars: ⭐⭐⭐
Greenwave shares are trading lower Monday after the stock began trading on a split-adjusted basis following a 1-for-150 reverse stock split. Greenwave Technology announced the reverse stock split last week, intending to increase the per-share trading price of the stock to remain trading on the Nasdaq exchange. Shares began trading on a split-adjusted basis on Monday. The reverse stock split reduced the number of shares outstanding from 1,132,490,847 shares on May 31 to approximately 7,549,939 shares on June 3.  
Greenwaves % change graph is showing an error due to the firms stock reverse split
Greenwaves % change graph is showing an error due to the firms stock reverse split
@DJ MOOSE GETS FUNKY: waiting to find bottom ill be back
9. $Crown Electrokinetics(CRKN.US)$ - Buzzing Stars: ⭐⭐⭐
$Crown Electrokinetics(CRKN.US)$ shares fell this week and 17% friday after the company announced an offering of 300 million shares of its common stock from time to time, by Keystone Capital Partners.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
The company itself is not selling any securities through this prospectus and will not receive any proceeds from the resale of shares by Keystone Capital Partners. The company may sell up to $50 million worth of common stock to Keystone Capital Partners under the purchase agreement.
@trader james80: what is this. i leave you guys for like 3 hours to go do some work and come back to this.
10.   $Super Micro Computer(SMCI.US)$ - Buzzing Stars: ⭐⭐
Super Micro Computer shares climbed Wednesday when the firm said it launched a liquid-cooled artificial intelligence data center optimized for the Nvidia AI Enterprise software platform. The company said the data center is designed for solutions that accelerate the adoption of generative AI for enterprises in various industries with its SuperClusters.
Weekly Buzz: All-time Highs for Indexes While Memes Give Up to Losses
CEO Charles Liang said the company's liquid cooling solutions can cut data center power usage by up to 40%.
@103353263: this is so rubbish
Thanks for reading!
* All comments, links, and content posted or shared by users of the community are the opinion of the respective authors only and do not reflect the opinions, views, or positions of Moomoo Financial Inc., Moomoo Technologies, any affiliates, or any employees of MFI, MTI or its affiliates. Please consult a qualified financial professional for your financial planning and tax situations.
Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
Do you feel influencer investors like Roaring Kitty helps companies or retail investors? Does it help to have a large-pocketed investor bringing attention to your stock as a shareholder? Genuinely interested in your replies, there are no right answers!
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
Any app images provided are not current and any securities are shown for illustrative purposes only.
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  • mr_cashcow : Thanks again for the reward points[undefined]

    Influencer investors like Roaring Kitty aka Keith Gill can have both + & - effects on companies & retail investors[undefined]

    The + effects:
    ▲Increased visibility: Influencer investors can attract attention to lesser-known companies or stocks, potentially driving up interest and investment
    ▲Market momentum: Their enthusiasm and conviction can contribute to a stock's momentum, attracting more investors and raise the price
    ▲Accessible information: Influencers like Roaring Kitty share their research and analysis, making it easier for retail investors to access information and make informed decisions[undefined]

    The - effects:
    ▼Market volatility: Influencer investors can also contribute to market volatility, as their opinions and actions can lead to rapid price swings
    ▼Lack of diversification: Some influencers may focus on a single stock or sector, potentially leading retail investors to over-concentrate their portfolios
    ▼Unqualified advice: While influencers may have a large following, they may not always provide sound or qualified investment advice, potentially leading retail investors into risky decisions[undefined]

    The same goes for having large-pocketed investor bringing attention to the stock as a shareholder[undefined]

    Ultimately, it's essential for retail investors to DYOR/DD, set clear goals, and develop a diversified investment strategy, rather than solely relying on influencer investor's opinions[undefined]

  • 102362254 : Influencer investors like Roaring Kitty can positively impact both companies and retail investors. Their engagement encourages retail investors, increases stock visibility, and fosters community. Their ability to engage retail investors and draw attention to specific stocks can be beneficial. However, balancing short-term excitement with long-term fundamentals remains important.

  • puddy1 : Influencer investors like Roaring Kitty can benefit companies by increasing market visibility and potentially boosting stock prices, which can aid in capital raising and financial stability. However, this attention can also lead to significant stock price volatility and increased regulatory scrutiny, posing challenges for long-term planning and compliance.

    For retail investors, influencers can provide valuable information and help democratize market participation, giving smaller investors collective power. Yet, there are risks of market manipulation and significant financial losses if investors follow influencers without conducting their own due diligence, making it essential to balance the potential benefits with these risks.

  • HuatLady : I think influencer like Roaring Kitty could benefit companies or retail investors, but I wouldn't be following their leads. Influencer investors may prioritise their personal gains over the company's  well-being.  Their actions could be driven by short-term gains rather than long-term values. Personally, I rather invest in solid stocks for the long haul, and not let myself be swayed or tricked [undefined]. I prioritise strong fundamentals [undefined] over hype.

  • HuatEver : Influencer investors like Roaring Kitty can sometimes help companies or retail investors, but it can be a double-edged sword too. Stocks promoted by influencers can experience extreme volatility due to speculative trading. Retail investors may be drawn in during peaks and suffer loses during downturns. Thus, retail investors should exercise due diligence and not solely rely on any influencers when making investments decisions. [undefined] [undefined]

  • JulW21 : Influencer like Roaring Kitty could benefit companies or retail investors, but with a cost. Everything has both sides. However, my personal opinion is high profit come with high risk. I wont know when is the lowest nor the highest so I would stick to blue chip stock so that I can sleep well at night.

  • ZnWC : The short answer is no because influencer investors will tell you only when they win big (huge profit) but stay mum when they lose money.

    According to TD Direct Investing, the biggest risk with a meme stock is losing all of your money. Without solid fundamentals to back up the price increase - such as increasing revenues or profit growth - sustaining excitement for a company can be difficult after the initial wave of exuberance subsides. Stock prices of meme stocks tend to plummet as soon as sentiment turns.

    According to Quartz, hedge funds are more prepared to handle meme stock-related volatility, having learned their lessons after 2021:

    “Quant/hedge funds are much better equipped to handle these situations nowadays,” Iachini said. “If anything, we believe the chances that they participate along with retail in the squeeze but also lean against and then exit these trades ahead of retail traders are high.” Within just two days, short-sellers as a whole lost more than $2 billion. They recovered about half of that after the stock began to sink on Wednesday, data from S3 Partners shows.

    My take is the biggest loser is the inexperienced retail investors who buy meme stocks due to greed also known as FOMO (fear of missing out). Very few will have a clear mind and discipline to trade within your means and investment goal (risk appetite). Due to social media pressure, they will not have the courage to admit losing money.

    There's nothing wrong with a large-pocketed investor bringing attention to your stock as a shareholder. The responsibility is always on whether you have done you own due diligence (DYODD) when you buy the stock. There is no right or wrong in investing just consequences.

  • 73841093 : Wow that nice

  • Spread Love N Joy 102362254 : What happened to junk stock GME after his last live stream….? 😂