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Friday Market Close…
What’s up man,
Today’s message is simple:
When you’re out tonight, or before you go out tonight.
Tell the people closest to you that you love them. Even if they think it’s weird. Let it rip from the heart and hit their soul.
People don’t hear this enough. Genuinely.
So go spread some love to your tribe.
Cheers.
Market Indices & Commodities
| Gold | $2,035.88 | +1.10% |
| Copper | $3.87 | -0.72% |
| Silver | $22.95 | -1.99% |
| NASDAQ | $15,996.82 | -0.28% |
| S&P 500 | $5,088.80 | +0.04% |
| TSX | $21,413.15 | +0.45% |
| CSE Comp | $195.53 | +3.19% |
Markets
How Nvidia Has Driven Stock Markets to Record Highs
Better than expected quarterly results from $NVDA has incited another increase in investor excitement over AI. This led to markets in 3 continents achieving record highs. Crazy how 1 company has this much global influence.
Nvidia also overtook Google’s parent company Alphabet ($GOOG) in terms of valuation. Only Microsoft ($MSFT) and Apple ($AAPL) have bigger market caps.
There are increasing concerns that the AI boom may be driving unsustainable market confidence and growth. It could all be a giant bubble, but I’m fucking here for it.
IPO
Reddit Moving Ahead With IPO
A prospectus filing from from Reddit shows $804m in revenue and $91m in net losses in 2023.
These numbers are actually promising as losses have fallen in recent years. This all comes after the company released a prospectus in preparation for its delayed IPO.
Reddit will use the ticker $RDDT and will likely list on the NYSE, perhaps even as soon as March.
In 2021, they were officially valued at $10b, but many investors are sceptical and have marked down their valuations by about 50%.
Crypto
Nigeria Blocks Access to Crypto Exchanges
Nigerian authorities have blocked access to some of the world’s largest cryptocurrency exchanges. They did this because they are trying to crack down on currency speculation. This comes as the naira reaches record lows.
It has got to the point where 1 USD is worth 0.00062 naira.
On Wednesday evening, the Nigerian telecoms regulator ordered telecoms companies to restrict access to companies like Coinbase and Binance.
It’s not looking with Nigerian inflation at a 27 year high and at a current rate of 28.9%.
Thank you
That’s all Folks,
Hope you had a good week. It’s time to reap the rewards though now and have a fucking banger of a weekend.
Like we said above, tell someone you love them and have a fucking blast tonight guys…
Have a good one,