Another China Crackdown 📉

As we’ve been highlighting for a long time, investors and traders continue to seek opportunities in the micro and small-cap healthcare space in hopes of a buyout.

With the most prominent players sitting on tons of cash and needing their next growth driver, it seems like there’s a new company being acquired every day. 🤑

Despite a lackluster close for the major indices, several stocks hit major market-cap milestones. 🤩

First up is Microsoft, which briefly became the second company to cross the $3 trillion market value threshold. Although that didn’t hold into the close, what’s done is done, and the company certainly deserves to be celebrated. Meta’s rebound over the last two years pushed it back above the $1 trillion mark, bringing the total number of companies above this level to eight.

While everyone is looking at the S&P 500 closing above 5,000 as this week’s stat of the week, MarketWatch is flagging another wild data point. 🚨

As you can see from the headline snippet above, Nvidia is now worth as much as the entire Chinese stock market. While several stocks already have achieved this feat, they’re bigger conglomerates with many businesses under one roof. But Nvidia is a chip designer and manufacturer with a more straightforward business model, making this that much crazier of an occurrence. 

Nvidia’s evil plan to take over the stock market was put on hold today despite labor market data helping build the case for a June rate cut. 🤔

The February jobs report showed that nonfarm payrolls rose by 275,000, topping the 198,000 expected. However, the previous two months’ numbers were revised lower by 167,000 jobs, causing the unemployment rate to jump to 3.90% and signaling a further softening of the labor market. 🔻