Built Ford Tough

Ford was the arguably the strongest stock in the market today as the automaker’s shares surged 11.76% to all-time highs. ๐Ÿš€ ๐Ÿš€

$F was high-flying after announcing plans to double production to 150K vehicles per year for its all-electric F-150 Lightning truck. The truck hasn’t even been delivered and it already has 200,000 reservations… โšก

$F is up 17% YTD and we’re just two sessions into the year. Here’s the daily chart:

General Motorsย took off 12.13% to new highs alongside Ford. It’s a family affair. โค๏ธ

$GM advanced as the company increased the number of vehicles in transit to ~200,000 from 129,000 in October. GM’s CEO, Marry Barra, will also unveil the electric Silverado pickup tomorrow at the Consumer Electronics Show in Las Vegas. It’s anticipated that the truck will be available in early 2023. ๐Ÿ˜Ž

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Microsoft Briefly Overtakes Apple

While most of the market focused on the spot Bitcoin ETFs beginning to trade today, the second-largest company in the world made a move on its sole competitor. ๐Ÿ”ฎ

This morning, Microsoft’s market capitalization briefly crossed that of Apple’s, making it the largest company in the world. While it didn’t last, it does beg the question of which stock will lead the market going forward.

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Can Meme Traders $SAVE Spirit Airlines?

When the Department of Justice successfully blocked the merger of JetBlue and Spirit Airlines earlier this week, we knew it would be an ongoing story. However, very few people saw it taking the turn it did today, with Dave Portnoy (aka “Davey Day Trader”) emerging from the shadows and rallying fellow retail traders behind the company.

Let’s see what happened. ๐Ÿ‘€

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The Tale Of Three IPOs

We last talked about the U.S.’s largest initial public offerings (IPOs) a month ago, when their results failed to inspire confidence among investors. However, we wanted to bring them back this week because at least one of them is perking up. ๐Ÿ‘€

The chart below shows Arm Holdings closing at its highest level since coming public, now firmly in positive territory. Klaviyo, which started off hot, is between its highs and lows. But Instacart remains on a downward path, making fresh lows this week before rebounding marginally. ๐Ÿ“Š

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A New High In New Highs

Nvidia earnings re-ignited the animal spirits in the market, causing the stock and major indexes to reach several new milestones. Let’s check’em out. ๐Ÿ‘‡

Firstly, a 16% rise in the stock today caused its market cap to rise $277 billion, the largest one-day increase of any stock in history. Secondly, today’s move put it firmly ahead of Google and Amazon as the fourth-largest stock in the world (Saudi Aramco not pictured below). It also moved it a stone’s throw away from $2 trillion. ๐Ÿคฉ

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