Stocks

December 19, 2022

Musk Polled Himself out of Twitter

Over the weekend, $TSLA CEO and current Twitter CEO Elon Musk opened this poll:

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Surprisingly, 57.5% of the respondents answered yes. Lol.

Following the results of his ironic poll, Musk tweeted the following:

Tesla investors have been vocal about Musks’ perceived absence from the EV automaker. So when the poll results were finalized, some analysts and pundits believed it was bullish for Tesla. 

Tesla gapped higher at the open +2.54%, but all of those gains were wiped out as sellers took control. 🤷‍♀️

At the time of writing, Tesla is down -1.59% for the day and made a new 2-year low, returning to where it traded back on November 17, 2020.

No updates yet from Elon Musk regarding whether or not he’s going to step down. We’ll keep you posted on that front. 

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Stocks

December 29, 2023

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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Stocks

January 2, 2024

Traders’ Updated S&P 500 Roadmap

Just because the calendar changes dates doesn’t mean the market’s trends do. As such, now seems like a great time to update the S&P 500 roadmap many traders used throughout 2023. 🗺️

Below is a two-year daily candlestick chart with a few key indicators. The first is the 200-day moving average (blue), which traders use to track the long-term trend in the market. The next two are the anchored volume weighted average price (AVWAP) from the market’s 2022 highs and 2022 lows. Traders use this to track how the average buyer/seller has fared in the market from a specific date.

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Stocks

January 18, 2024

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. 👀

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Stocks

December 20, 2023

Stocks Reverse From All-Time Highs

For seemingly no good reason, the stock market experienced its first bout of volatility in several weeks today. The sharp turnaround had some latecomers to the party asking how this could happen to them. As such, it seems like a good time to update our handy S&P 500 roadmap we’ve shared throughout the year. 🗺️

The last time we checked in on this was in early November when stocks found support at a confluence of “technical” levels that many market participants were watching. Since then, it’s been quite the wild ride, with the S&P 500 rallying over 16% in about eight weeks and approaching its all-time highs from 2022.

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Stocks

December 15, 2023

Trading Competitions: Week 3 Recap

Stocktwits’ third week of trading competitions ended today, so let’s recap how it went. 👇

This week’s competition was a tight one, with CtheLightTrading snagging the second spot for the third consecutive week. HeyShoe also took the third spot where he sat in week one. Clearly, the two of them are in contention for that top spot, so we’ll keep an eye on them in future weeks. 👀

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Stocks

February 22, 2024

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. 👇

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. 🤩

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Stocks

March 8, 2024

Stocks Break Their Win Streak

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. 🔻

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