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- Shit to Know Thursday
The Shit to Know Thursdays
Alright man look,
You know the deal. A lot happened this week. Below is the shit that matters.
Market Indices & Commodities
| Gold | $2,026.35 | +0.00% |
| Copper | $3.89 | -0.08% |
| Silver | $22.77 | -0.66% |
| NASDAQ | $16,041.62 | +2.96% |
| S&P 500 | $5,087.03 | +2.11% |
| TSX | $21,318.08 | +0.69% |
| CSE | $189.48 | +2.74% |
China
China Bans Stock Selling 🇨🇳
In the latest in a long line of desperate measures carried out by the Chinese government to prop up the market, they have banned certain investors from selling stocks.
Yesterday, Beijing banned major institutional investors from reducing equity holdings at the market open and close of each trading day. Basically, there is now a ban on institutional investors (e.g. pension funds & hedge funds) on net selling at the open and close.
The biggest, most obvious effect is that this severely limits the ability of investors to short companies. Shorting is of course an integral strategy for hedge funds. So long term, I’d say this is a pretty concerning sign of where the Chinese market as a whole is heading.
Earnings
$NVDA Soars, Tech Stocks and Crypto Follow Suit 📈
All Nvidia haters, with all due respect, get fucked.
$NVDA’s stock price had been down 6% so far for the week. Earnings were then announced after market close yesterday, and boy were they fucking good.
Estimated revenue, EPS & gross margin, all beat. Revenue was even beaten by 22% (or $1.6b) mind you. So it’s not surprising $NVDA closed up 16% today.
Other tech stocks have also received a boost in price following Nvidia’s results. $AMD is up 11% today, $MSFT is up 2%, and $META is up 4%.
AI crypto tokens have also surged due to the results. SingularityNET(AGIX) are up about 40% today. Fetch.ai (FET) is also up roughly 15% today.
This all goes to show how big of a player Nvidia is, and with updated price targets averaging at about $880, it is definitely a stock we’ll be keeping a close eye on.
International Relations
Putin Gifts Kim Limo 🚙
The Russian president has indeed gifted the dictator of North Korea, Kim Jong Un a limousine.
It is made by the Russian carmaker Aurus who produce Vladimir Putin’s bulletproof luxury limos.
This all comes after Putin visited North Korea last year, and apparently Kim liked Putin’s limo a lot. In fact, Putin showed the it to Kim personally. The delivery of the limo was confirmed yesterday.
The gifted limo is symbolic of the growing relationship between Putin and the ‘Respected Comrade’. Let’s hope for our own sake they don’t get too close.
Monetary Policy
American CBDC May Come Before Election 💵
So you know that shit which threatens to replace cash and our control over our own money? Yeah well that could be introduced before the election in November this year.
Your financial privacy and choices could all be controlled by the government before the year is even up. Sound fucked? That’s because it is.
(Although he probably doesn’t remember it) Forgetful Biden authorised the exploration of a CBDC, and there isn’t even any real resistance in congress.
You also getting concerned about this?
Tech
Musk Reveals New Neuralink Development 🧠
A few weeks ago we reported on how the first human patient had been implanted with a Neuralink brain chip.
Well fresh reports state that the patient has recovered fully and can even control a computer’s mouse around the screen with their mind.
Sounds like a true NPC to me…
Legal
Hunter Biden Claims DOJ Tried to Make Him Look Bad ⚖️
Biden’s attorneys have accused prosecutors of misrepresenting evidence. This comes after federal prosecutors publicly released a photograph showing lines of sawdust which they misrepresented as cocaine.
To be fair, Biden’s reputation is already pretty poor considering one of his charges is possessing a firearm while on drugs. What an idiot.
Politics
NYC Mayor to Give Migrants $10k Each 💳
Democrat Mayor Eric Adams has launched a controversial new program. This program would give migrants who end up in New York City a pre-loaded debit card with as much as $10,000 on it.
An estimated 10 million illegal immigrants have crossed the southern border into the US since Biden came to power.
The mayor has essentially just incentivised illegal immigrants to go to NYC. God knows I bet the local taxpayers are pleased.
Feature
Man Sues Lottery After Being Told Win Was a ‘Mistake’🎟️
A man from Washington DC is suing Powerball and the DC Lottery after he was told that his winning numbers had been published, when they hadn’t.
These incorrect numbers were left published for three days, even though they did not match the numbers from the official lottery draw.
The man is suing for $340m dollars and on 8 different counts, including infliction of emotional distress and fraud. Honestly this guy needs to get a life.
