Weekly Buzz: Nvidia brought all-time highs before holiday weekend
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!
Make Your Choice
Weekly Buzz
This week, the market hit fresh all-time highs leading up to and after $NVIDIA(NVDA.US$ earnings. The last of the mag seven to report, the firm beat all expectations to the point the stock soaked up all market trading volume Thursday. The S&P 500 hit closing highs early in the week, the Nasdaq hit a closing high Friday, and the Dow hit an intraday high on Monday.
As a general recap, the market advanced on Friday. Shortly after the market closed, the S&P 500 Index traded +0.03% for the week, while the $Dow Jones Industrial Average(.DJI.US$ fell 2.33% for the week, and the Nasdaq Composite Index climbed about 1.41%.
Gold prices fell 3.29% for the week, while silver fell 3.41%. $Crude Oil Futures( for JUL 4) fell 2.25% for the week, while Bitcoin climbed 4% following rumors that the SEC might approve Ethereum ETFs/
In macro, Friday's Michigan economic sentiment data showed consumers expect inflation to climb at 3.3% in a year and 3% in five years, higher than last month's expectations.
Thursday, investors gauged S&P PMI numbers that came in generally higher, with 50.9 in manufacturing, 54.4 in Composite, and 54.8 in Services. Initial jobless claims came in lower than last week, at 215k. The small drop kept treasuries and inflation expectations high.
In the most recent meeting minutes released Wednesday, many FOMC members found that uncertainty came from the possibility that "high interest rates may have smaller effects than in the past." Participants said interest rates would stay put unless inflation numbers were clearly at 2%, or the labor market weakens. Members said they would be willing to raise rates if "risks to inflation materialize in a way that such an action became appropriate."
Investors will also watch numerous Fed speeches this week. On Tuesday, Federal Reserve Governor Christopher Waller said that the central bank might consider lowering interest rates by the end of 2024.
On Monday Morning, Fed Vice Chair Jefferson said it was too early to tell if disinflation was working. Cleveland Fed President Loretta Mester said her three-cut plan was no longer accurate. Last week, Wednesday's CPI numbers for April came in right at expectations.
The $U.S. 2-Year Treasury Notes Yield(US2Y.BD$ climbed to 4.94, and the $U.S. 10-Year Treasury Notes Yield(US10Y.BD$ 4.46.
Anyway, let's dive into the buzzing stocks this week:
FFIE shares are trading lower this week on a continued downward momentum. Last week, the stock saw massive price moves related to the retail-fueled meme stock rally which saw heavily shorted stocks gain alongside GameStop and AMC Entertainment shares. The stock was up more than 8000% at one point.
The company faces financial challenges and received a delisting notice from Nasdaq on April 24 after its share prices remained below 10 cents for 30 days.
@EZ_money: no mercy!!!!
Crown ElectroKinetics reported quarterly losses of $(0.13) per share on April 20th. This was a 97.34 percent increase over losses of $(4.88) per share last year. The company reported $682.00 thousand in sales this quarter, a 3.00K percent increase over sales of $22.00 thousand in the same period last year.
Last week, investors looking for heavily shorted stocks became interested in the firm's stock after GameStop shot up in value. The firm's stock price hit +1,100 on Friday.
@Liquid master : buy the market buy the ask
Nvidia reported Q1 earnings that beat expectations Wednesday. On the news, the stock climbed about $1,00/share. According to the release, revenue for the first quarter was up 18% from the previous quarter and up 262% from a year ago. The firm posted earnings of $6.12/share compared to expectations of $5.59, based on 36 estimates. Revenue came in at $26.04B in the quarter, compared to $24.65 estimated. Eyes were on data center revenue, which comprised most of the firm's profit, coming in at $22.6B vs. estimates of $21.06B.
The firm expects revenue of $28.0 billion, plus or minus 2%, for the current (second) quarter. The firm announced a ten-for-one forward stock split effective June 7, 2024. Investors could purchase Nvidia stock at about $104/share at current prices. The firm also increased its cash dividend by 150% to $0.10/share.
@AlinaMlakam: Nvidia Stock Surges as Forecast Delivers on AI Hopes
On Monday, Greenwave Tech reported quarterly losses of $(0.39) per share, an 8.33 percent decrease from losses of $(0.36) per share in the same period last year. The company reported $8.51 million in sales this quarter, a 5.95 percent decrease from sales of $9.04 million in the same period last year.
Last week, following the GME stock craze, investors piled into heavily shorted stocks like GWAV. The stock price climbed 562% on Friday.
@Moongrabber: where is our Al at? shorts have their’s working full time.
$GameStop(GME.US$ and $AMC Entertainment(AMC.US$ pared back Monday's gains Tuesday as the dust continued to settle from last week's meme-stock frenzy. Shares of GameStop ended the week down more than 60%.
The companies saw their stock prices soar last week—lifted by commentator Keith Gill, also known as Roaring Kitty.
@Gil Bates: in much worse shape than AMC. At least AMC already hit rock bottom.
AMC ended the week lower by 30% after last week's explosion, when Roaring Kitty helped reignite a stock craze. The rally sparked memories of the "gamification" of trading during the meme-stock heyday of 2021. Victor Ricciardi, a visiting finance professor at Ursinus College and co-author of the book "Advanced Introduction to Behavioral Finance," called the craze an "outlier event."
Tesla has cut Model Y production at its gigafactory in Shanghai in response to dwindling demand for its electric cars in the face of sharp price competition from low-priced Chinese manufacturers. Nikkei reported that the Texan carmaker has also told its suppliers to start making components used in Tesla vehicles outside China and Taiwan due to concerns about the possibility of heightened geopolitical tensions in the wake of the U.S. elections.
Tesla, which opened its Shanghai gigafactory in December 2019, cut production from its Chinese facility by 17.7% year-on-year in March, to 49,498 cars. By 33% in April, to 36,610, figures from the China Association of Automobile Manufacturers show.
@jimmy the trader: Maybe looking for a dip here
Cheetah Net Supply Chain Service shares fell Tuesday after the stock soared in after-hours trading Monday. Cheetah shares jumped from 90C to over $14 before falling back to earth.
Last week, the company announced the closing of its follow-on offering of 13,210,000 shares of Class A common stock. Each share of Class A common stock was sold at an offering price of 62 cents for gross proceeds of $8.19 million. Cheetah Net intends to use the net proceeds from the offering to fund working capital and develop its warehousing and logistics services.
@Rivera I’m ready to see it fly
Barnes & Noble shares traded higher this week by 229%, hitting a high at 600%+ Wednesday. The price volatility followed news that activist investors Outerbridge and Greenhaven submitted a preliminary recapitalization proposition of $114.5 million to the board of Barnes and Noble at the start of the month. Overnight on Thursday, the firm announced the sale of 900M shares.
The proposal featured a $57 million rights offering, guaranteed by Outerbridge, Greenhaven, and others, alongside a separate $57 million direct investment from eight investors for 35 cents per share. The activists want new board seats and possibly a new CEO appointment.
@151364853: why dropped a lot always after hours
MGO Global shares traded higher Tuesday after the company posted a year-over-year increase in its first-quarter financial results.
MGO Global reported total revenues climbed 1385% to $670,264, up from $45,147 year-over-year, due primarily to the timing of the launch of the company's Stand Flagpole line of products, which did not occur until mid-March 2023. The company reported losses of 1 cent per share, compared to losses of 8 cents per share from the same quarter last year. The firm's stock jumped from 30C to $1.90 on the news.
@151716653: any chance of going back up?
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.
Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
Now that Nvidia earnings have come and gone and the market has hit highs, is it finally time to sell in May? If stock market volume plummets this summer, what will you do?
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.
Disclaimer:
Any app images provided are not current and any securities are shown for illustrative purposes only.
This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Community Official Account
Bringing you insights, inspiration and the hottest content.
150KFollowers
1200Following
60KVisitors
Follow
doctorpot1 : With Nvidia's earnings behind us and the market reaching new highs, many investors are wondering if it’s time to heed the old adage, "sell in May and go away." This strategy is based on the historical observation that the stock market tends to underperform during the summer months. Given the strong performance we've seen so far, taking profits now could be a prudent move for those wary of a potential market pullback. However, it’s important to consider the overall economic context, including ongoing economic recovery, interest rates, and geopolitical factors, before making a decision.
If stock market volume drops significantly this summer, it could indicate reduced market liquidity and potentially higher volatility. In such an environment, investors might consider shifting to a more defensive strategy. This could involve reallocating some of their portfolio into safer assets like bonds or dividend-paying stocks, which tend to be less volatile. Alternatively, some investors might choose to hold onto cash, waiting for better buying opportunities when the market conditions stabilize. As always, maintaining a diversified portfolio and staying informed about market trends are key to navigating uncertain times.
Binbin Wang doctorpot1: You mean it's only going to fall more
102362254 : No need to worry if the stock market volume plummets this summer. Just stay calm and search for good deals. I'll check out my watchlist stocks that could have dropped due to overall market weakness. It’s good chance to buy them at lower prices. I'll also pay attention to earnings reports, news, and signs to stay updated. Sometimes, negative news can result in more appealing opportunities.
mr_cashcow : What I have learned over the 2 years is that you don't go broke by taking some profit, so definitely selling a portion of Nvidia at the ATH to secure and lock in the profits to build up some war chest for when anything unexpected happens
103057627 : still talks about rates cut, not going to worry about it not happening. going to slowly (smaller order) dca stocks. pushing a larger proportion to funds. thanks moomoo for fund coupon. $HSBC GIF Ultra Short Duration Bond MDis (LU2334455339.MF)$ $Fidelity Funds-Global Technology Fund (LU1046421795.MF)$
HuatEver : I don’t worry about selling in May or if the stock market volume drops. I’ll stick to my plan and avoid letting emotions drive my decisions
. Fear and greed can cause us to act impulsively, so it’s mportant to stay disciplined and not let emotions dictate investment choices. 
Wonder : Stay focused n buy into opportunities.
HuatLady : I will maintain composure and a sense of calm amidst market fluctuations. It is important to recognise that that the market downturns are a natural part of investing, and panicking rarely leads to good decisions. Instead, I will stay committed to my strategy of holding onto high-quality stocks for the long-term. By
doing so, I not only position myself to weather market volatility but also continue to benefit the dividends generated from those investments.
doctorpot1 Binbin Wang: Not necessarily. The market doesn't always follow historical "sell in May" patterns exactly, and many factors can influence its direction. While taking profits now could be a cautious approach if you're concerned about a potential pullback, it doesn't mean the market is guaranteed to fall. The market could continue to rise, and selling now might mean missing out on further gains.
The idea is to manage risk according to your own investment goals and tolerance. Some investors prefer to lock in gains after a strong performance, while others might hold on, believing the market has more room to grow. It's about finding a balance that suits your strategy and risk level.
ZnWC : There's a saying in the stock market: "Sell in May and go away" which refers to the historically weaker performance of stocks from May to October compared with the other half of the year.
I disagree because statistically it showed that non-cyclical stocks and some macroeconomics factors like breakthrough in technology can still bring in rally. Here were 2 examples in last year: After OpenAI first released ChatGTP , artificial intelligence became a strong catalyst to related stocks for another 9 months. Nvidia was one of them. Tesla's supercharger partnership with other EV makers and the widespread Tesla's NACS adoption also brought stimulus to the industry.
The stock market is volatile and may face downtrend sometimes due to geopolitical tension hence it is important to hold the stock and not panic sell. How long to hold will depend on your investment objective (long or short term) and risk appetite. Back to 2024, we need to identify which sectors will be the next superstar. I belong to Warren Buffett's cult and a believer in investing long term for compound interest, hence may consider allocate some fund into related ETFs or mutual funds.