Weekly Buzz: All's well that ends in all-time highs
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the selected buzzing stocks on moomoo platform based on search and message volumes of this week! Answer the Weekly Topic question to win an award next week!
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Weekly Buzz : All's well that ends in all-time highs
The market hit all-time highs this week multiple times after the FOMC said rates would not change, which shed light on this year's rate cuts.
With preliminary numbers, the $S&P 500 Index climbed 2.29% this week and added three all-time high closes. The $Dow Jones Industrial Average climbed 2.25%, and the $Nasdaq Composite Index fell 2.99% this week.
Friday, $Reddit initially started trading up 30% after a 50%+ opening trading day Thusday but rapidly pulled back to a 3% decline. $Digital World Acquisition Corp(DWAC.US$ fell 4% after investors in the blank check company agreed to merge with Former President Donald Trump's Truth Social Platform, the merged entity may trade as early as next week.
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Mon: U.S. stocks climbed as investors balanced optimism over artificial intelligence with concern over monetary policy as investors await the outcome of a Federal Reserve policy meeting later this week. Investors awaited $NVIDIA(NVDA.US$'s GTC computing industry conference, where CEO Jensen Huang announced a brand-new large GPU chip for AI processing shortly after 4 PM EST.
Tues: Stocks climbed as the market reacted to the news that $NVIDIA(NVDA.US$ announced a large computer chip for AI processing at its GTC event Monday night. Investors awaited the FOMC policy statement on Wednesday, where the market has priced in a 99% chance of no rate change.
Wed: Markets climbed Wednesday after the FOMC rate decision, which went as planned: no changes were announced for the Federal Funds Target Rate of 5.25-5.5%. The FOMC also released its quarterly dot plot forecast, showing where individual committee members' assessment rates should land in the coming years. According to the dot plot projection, policymakers see the median Federal Funds at 4.6 at year's end.
Thursday: A day after the FOMC rate decision, stocks were still hitting all-time highs. If the market loves anything, it's predictability.
All eyes watched the Reddit IPO launch in public trading shortly after 1:20 p.m. EST. The stock started above the target $34/share price at $47/share and jumped 60%. The stock closed up 57% to $50/share.
Powell said, "If the economy evolves going forward, the appropriate federal funds rate level will be 4.6% at the end of this year."
Let's dive into the weekly buzzing stock list this week:
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At its GTC San Jose conference, Nvidia recently unveiled Project GROOT, a general-purpose foundation model for humanoid robots. The project aims to advance the company's work in robots and embodied AI. In a recent interview, Nvidia CEO Jenson Huang discussed the project with Jim Cramer.
"We're in a world where to write software for a computer, we use data or training examples, and the computer learns from the examples," Huang said. We have the most examples of human(s) moving around of just about any other data."
@huang002339: today apes together strong huh
Tesla stock was moving this week after it was reported that the cost of Model Y vehicles made in China would rise by 5,000 yuan ($694.69) from the beginning of April, according to Reuters citing confirmation from the company.
@潜力股火热招商中: sell them all! I will not say it again!
After hitting a historic peak of $73,678.50 last Thursday, Bitcoin experienced a 10% pullback over the past week. The premier cryptocurrency remains buoyant above $63,000. Benzinga collected data from Bitcoinblockhalf.com showing the Bitcoin halving event is just 30 days away, with the anticipated date set for April 20th, 2024. Historically, Bitcoin halvings have been closely linked to crypto market performance. Bitcoin's price tends to surge within 6 to 12 months following a halving event, often reaching unprecedented highs.
@Wheres22 : #Bitcoin dipping My ETFs sipping
During Tuesday's trading session, Super Micro Computer's share price experienced a downturn following the company's announcement of its intention to issue 2 million shares in a public offering. Recently, analysts at Rosenblatt have increased their price target for SMCI stock to $1300.
@AI was here: Rebounding again. Load the DIP
Soundhound said Friday that its voice assistant with integrated ChatGPT will be available on $Stellantis NV(STLA.US$ DS Automobiles in Japan starting in March. The news did not change the direction of the stock price action, down 9% after falling for two days. Cantor Fitzgerald Analysts cut the target price of the stock on Wednesday.
@CEO of Apes: Incorrect. If you stare at the price long enough it will go up.
AMD shares fell Tuesday. Shares of semiconductor stocks are trading lower amid this week's Fed meeting. Investors also assess weakness in SMCI as well as NVIDIA Corp's Monday GCT announcements.
@GuruGuruGulu: finally green...
The Justice Department sued $Apple(AAPL.US$ on Thursday, alleging the tech giant blocked software developers and mobile gaming companies from offering better options on the iPhone, resulting in higher prices for consumers.
The government's antitrust complaint, filed in a New Jersey federal court, alleges Apple used its control of the iPhone to prevent competitors from offering innovative services such as digital wallets and limited the functionality of hardware products that compete with Apple's own devices. The suit also claims that Apple makes it difficult for users to switch to devices that don't use Apple's operating system, such as Android smartphones.
@DwarfCo: if u cant handle small dips in stock prices, you shouldn’t be in the stock market.
Verb Technology Company shares traded higher Monday, possibly on continued strength after it announced its Market.live launched Facebook and Instagram social shopping technology integration last week. The company announced it added 100 more retail brands to its livestream social shopping platform.
Rory J. Cutaia, VERB CEO, said, "We are continuing to gain momentum in the marketplace as we enter into exciting new partnerships and collaborations with market leaders, develop and deliver technological innovations, and refine our business model and service offerings."
@Sammy Diaz: In Verb I trust
Nio fell despite news Monday about an agreement with Contemporary Amperex Technology Co. to innovate in research and development for long-life batteries. SeekingAlpha reported that the batteries of new energy vehicles are usually under a warranty of eight years, which means the battery warranties of nearly 20 million NEVs had or will run out from 2025 to 2032.
@SkyHero: wow, become penny stock
PDD Holdings released earnings Wednesday that beat expectations, pushing the stock price to a new 52-week high. PDD reported impressive fourth-quarter fiscal 2023 results, with revenue growing by 123% year-on-year to $12.52 billion (CNY88.88 billion), beating expectations. Adjusted earnings per ADS were $2.40 (CNY17.32), surpassing estimates.
@stonk scouter: Great earnings what went wrong
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Weekly Topic
Nvidia has pushed out Tesla as the most popular stock searched and discussed by mooers. Do you think this is a short-term hype, or a change in direction from EV investing to AI?
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.
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102362254 : Nvidia has overtaken Tesla as the most popular stock searched and discussed by mooers. It is unclear if this is a short-term hype or a shift from EV to AI investments. Nvidia's surging popularity, surpassing Tesla's, shows a significant change in investor interest. With its strong sales growth and high demand for AI chips, Nvidia seems to be on a steady path. Yet, investor enthusiasm can be unpredictable. Only time will tell, if this move towards AI investing is temporary or a lasting trend.
Simon 5183 102362254: Electric vehicles are only a transition product. Real eco-friendly vehicles are hydrogen engines. Commercial aircraft hydrogen engines are already close to commercial operation. Hydrogen engines for automobiles have been successfully developed in 2023, and it is estimated that they will be commercially operated before 2030!
mr_cashcow : Always looking forward to weekly buzz post with interesting fun facts and top stock pick showcase
Yeah definitely a changed in direction from EV to AI but I'm sure Tesla will be able to pivot and benefit from AI boom especially with their FSD and robotics both requiring AI
Also looking forward to see how Tesla incorporate spaceX tech in their new roadster
disc0187 29w7 Simon 5183: So naive.
ZnWC : Tesla stock is down due to EV demand dropped in the China market which triggered a series of price cutting. The share price also fell due to a few negative bias reports affecting the company and Elon Musk (EM). For example EM taking doctor prescriped medicine to combat depression was reported as "taking casual drug". Berlin factory down due to arson fire recovered in a week was reported as terrorist attack to be permanently shut down for investigation. Nvidia stock is up because of a high demand in AI chips and hype. I agree that Nvidia has become the most popular stock, in fact it's the most popular stock among the magnificent seven.
Nvidia stock will continue to rally in the short term due to the hype but TA indicators showed the stock is overbought. Tesla may rise above 200 if it manages to ramp up Cybertruck production and push the FSD feature into the EU and China market which is popular in the US.
For the long term, Elon musk has already announced Tesla is collaborating with SpaceX to build a new EV model in early 2025 . The humanoid robot, Optimus scheduled to be tested in factories also looks promising. The stock performance will depend on whether investors (or analysts) will factor in the above as a longer term investment.
HuatLady : It appears that the surge in interest surrounding $NVIDIA (NVDA.US)$ may be transient, despite its displacement of $Tesla (TSLA.US)$ as the foremost stock sought and debated by investors. Yet, by consistently rebalancing our portfolio, we mitigate the necessity to conjecture whether this enthusiasm is merely a passing fad or is indicative of a broader shift away from EV towards AI. It remains uncertain whether the current trajectory favours AI over EV or if the pendulum will swing back ultimately. Attempting to predict markets movements proves futile; thus prudent investment strategies emphasize adaptability over timing.
HuatEver : Whether it is a short-term pivot or a more enduring shift in focus, transitioning from EV to AI warrants a strategic approach. I still believe in embracing the notion of holding onto promising stocks for the Long haul, relinquishing anxieties along the way. It is good to consider the wisdom of diversifying your investment portfolio across both sectors or opting for the simplicity of ETFS.
71094551 :
hello world evrry : @181377455-jp主播2
Nate M63862 Simon 5183: you should look up some of the problems with hydrogen fuel cells and what actually goes into making a successful alternative to ICE vehicles... I HIGHLY doubt commercial hydrogen cars will take off. please read more than just the headlines
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