International Stocks Make A Comeback

The only thing spicier than a performance from Pitbull, aka “Mr. Worldwide,” is international stocks over the last month. And while the sharp rebound in international stocks has been underway for some time, it hasn’t gotten a lot of coverage.

So today, as we highlight the move in Sea Ltd., we thought it’d be worth bringing that broader trend into focus.

For those unaware, Sea Ltd. is part of the group of widely-followed Chinese internet companies on Wall Street. It popped up on people’s radars today due to its better-than-expected earnings report, where the company saw its e-commerce revenue grow 32.4% YoY and gross orders rise 21.4%.

And given all the negativity around Chinese stocks and the global economy in general, this news was enough to spark a 36% rally in $SE shares.

The sharp move in Sea Ltd. helped push popular China ETFs like $KWEB higher as well, rising another 10% today. While this ETF is up over 50% from its October lows, it’s important to note that some of its largest components are reporting later this week. Companies like Alibaba, Weibo, and will be in focus and likely result in further volatility in these stocks.

Lastly, we want to highlight Taiwan Semiconductor, which isn’t a Chinese stock. But it’s an APAC company whose shares popped 11% after Berkshire Hathaway’s 13F revealed a new stake in the world’s largest semiconductor company. That certainly got people’s attention… 👀

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After a rough patch from late 2021 through 2022, this year, the initial public offering (IPO) tried to make a comeback. Now, traders say 2024 could be the year this turnaround really comes. 👍 

Below is a chart of the Renaissance IPO ETF ($IPO), which is up about 53% so far this year. But technical analysts and traders say that its recent breakout to roughly eighteen-month closing highs signals a critical trend change in prices. They argue that prices staying above the 35-37 range, which has previously served as an inflection point in the stock, would suggest momentum has shifted firmly to the upside. 🙃

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This morning, we saw a massive squeeze in shares of Arm Holdings, which soared more than 40% before pulling back midday. That led to other semiconductor stocks rising alongside it as investors’ optimism around the sector continued. 📈

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Trading Competitions: Week 5 Recap

This week’s competition was filled with new names and old ones as the Stocktwits community battled it out in the last trading competition of the year. 👇

Coming in third place and fourth place were Vioermajs and StockTraderIntel, who returned 9.42% and 9.30%, respectively. Fuzzyavatar eeked them both out, posting a 10.01% gain for the week. 👀

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Investors Chew On New Opportunities

With the stock market looking to close out an epic fourth-quarter run and overall 2023, investors and traders continue to look for opportunities in beaten-down areas of the market. 🕵️‍♂️

One of the stocks popping up on traders’ radars today is online pet retailer Chewy. The last time we checked in on the stock was in September when the trend of investors ditching unprofitable companies pushed shares to new all-time lows.

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