$AMC ending 2022 in a Hollywood-style dramatic, climactic collapse. 🎭
Today, AMC made a new 58-week low, returning to where it was trading in early February 2021.
$APE, however, is all over the damn place.
On December 22, APE closed up +75.18%, then +44.17% on December 23, and +10.40% on December 27 before falling -24.08% today.
It’s still up +49.21% for December.
Traders and investors are still digesting the $110 million equity raise, debt swap, and APE conversion from last week. 🦧
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. 👀
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. 📊
This week’s competition was filled with new names, a change from the last few weeks when several long-term Stocktwits users dominated the leaderboards. But what didn’t change was traders making big gains; let’s see how they did. 👇
Coming in third place was HaltTradeAlert, who made a bullish bet in the pharmaceuticals sector and delivered a 52% weekly gain. Next up was Chaz Russell, who posted a 179% gain after placing bullish bets on Netflix, Carvana, Meta, and other stocks across several sectors. 👀
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.
One of the key themes we discussed last year was the underperformance of Chinese stocks. While India and other emerging markets rallied sharply (along with the rest of the world), China’s stock market was stuck in the mud because of slowing growth, weak consumer spending, a property market crisis, and geopolitical tensions. ⚠️
Unfortunately for emerging market investors, none of those core issues have improved in 2024, leading its stock market to fall even further to start the year. 😬