- GRIT
- Posts
- A New Meme Stock?
Good Morning!
Happy Wednesday! Let’s have a good one:
👉Is Tesla a meme stock?
👉Microsoft drops OpenAi board
👉Jerome Powell goes to DC
TESLA: Meme Stock
Investor Bill Gross thinks Tesla's recent surge is speculative and driven by retail hype. Since June 24, Tesla's stock has jumped 43.6% after exceeding production and delivery expectations. However, Gross believes this impressive run isn't backed by fundamentals.
Source: CNN
He compares Tesla to meme stocks like Chewy and GameStop, which saw similar speculative rises. Gross, once a major bond market player, previously traded GameStop and AMC for quick gains, calling them “lottery-ticket stocks.”
🎯 GRIT TAKE: Bill Gross’s caution on… upgrade to VIP now to read the full GRIT Take!
MICROSOFT: Open AI Board
Microsoft announced it will give up its observer seat on the OpenAI board amid regulatory scrutiny in Europe and the U.S. Keith Dolliver, Microsoft's Deputy General Counsel, stated that while the seat provided useful insights, it is no longer necessary due to the board's progress.
Source: Microsoft
The European Commission has flagged potential antitrust issues, particularly focusing on deals between big digital players and AI developers. This includes the Microsoft-OpenAI partnership. The move is seen as a strategic step to address regulatory concerns and maintain fair competition in the rapidly evolving AI market.
POWELL: Joins Congress
Federal Reserve Chair Jerome Powell warned on Tuesday that keeping interest rates too high for too long could harm economic growth. He noted the economy and labor market remain strong, despite recent cooling, and highlighted some easing in inflation.
Source: CNBC
This comes as the Federal Open Market Committee's last rate hike marks its one-year anniversary. The Fed's borrowing rate is now at 5.25%-5.50%, the highest in 23 years after 11 consecutive hikes. Markets expect rate cuts starting in September, but FOMC members indicated just one cut. Powell's comments are part of the semiannual monetary policy updates to Congress.
Chart of the Day
📊Costco Hot Dog
Source: GS Investing
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstbets
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply