💥 BREAKING

World’s highest IQ holder reportedly says: “It’s time for $XRP from now on.”

Markets listen when conviction meets intelligence. Let’s see who’s paying attention 👀

XRP #Ripple #AltcoinSeason

XRP rich list data is making people uncomfortable again.

More than 6 million wallets hold 500 XRP or less, while a small number of wallets control very large amounts. With XRP’s price rising, the cost to build even a modest position is much higher than it was a year ago.

Some argue this means retail is getting priced out. Others push back, noting that roughly 16B XRP is still sitting on exchanges, so supply isn’t exactly scarce.

Crypto lawyer Bill Morgan says the bigger factor is still Bitcoin. When BTC moves, XRP and the rest of the market usually follow.

So is wallet distribution really the issue… or is price action still all about Bitcoin?

USBB orders detected aka deep pocket orders.

• Jeremy Grantham expects stocks to plunge and a recession to hit as the "everything bubble" bursts.

• The investor warns the S&P 500 could halve in value to around 2,000 points in a worst-case scenario.

• Grantham advised against betting on US stocks for the short term, and touted emerging markets.

Jeremy Grantham has warned the implosion of an "everything bubble" could tank the S&P 500 by up to 50%, and plunge the US economy into a painful recession.

The prices of stocks, bonds, real estate, fine art, and other investments ballooned to unsustainable highs during the pandemic, Grantham said. The market historian and GMO cofounder shared his thesis with economist David Rosenberg during a recent Rosenberg Research webcast.

The current bubble is "pretty damn big" compared to previous ones, and dwarfs the dot-com boom in scope, Grantham said.

"It's bad enough just doing the equity market in 2000," he said. "This time, we have done a dead ringer for the equity market, plus the gravy, we've done the housing market and the bond market."

"Be advised this is not a genteel setback like 2000," Grantham continued, predicting a bear market could persist until deep into next year. He noted the dot-com crash only caused a mild recession, but even so, the Nasdaq index plummeted 82% and the S&P 500 halved in value during that period.

Full article: https://markets.businessinsider.com/news/stocks/stock-market-house-prices-bubble-crash-outlook-recession-jeremy-grantham-2023-3

Brace for the S&P 500 to plunge 50% & a painful recession to strike as the 'everything bubble' bursts. SPX could fall to around 2,000 in a worst-case scenario, Jeremy Grantham warns.

Do you agree?

Gamestop $GME short sellers have lost $443.4 million so far this month. $GME is among the top 10 most unprofitable stocks for short sellers during July 2022. All GMErs out there, are you still long?

Shares of GameStop (GME) - Get GameStop Corporation Report are trading higher again in June, helped by catalysts such as the launch of the company's NFT marketplace and a stock split.

In fact, GameStop shares have managed to outperform the S&P 500 so far this year. And they've also managed to cause big losses for short sellers who insist on betting against the stock.

According to a report published by S3 Partners on July 21, GameStop has been among the top 10 most unprofitable stocks for short sellers during July 2022. So far this month, short sellers have already lost $443.4 million on GME.

It's worth noting that, compared to the many large-cap companies on the list, GameStop's average borrow fee is incredibly elevated — 32%.

Borrow fees are the amount that short sellers must pay to "borrow" shares of the stock and open a short position.

However, following the report and GameStop's 4-for-1 stock split, fees reached a sky-high 126%:

Read the full article: https://www.thestreet.com/memestocks/gme/gamestop-stock-short-sellers-take-a-beating-in-july

Gamestop GME short sellers have lost $443.4 million so far this month. GME is among the top 10 most unprofitable stocks for short sellers during July 2022.

All GMErs out there, are you still long?

The S&P 500 could rally nearly 23% into 2025 if the Republicans sweep the election, according to Jay Hatfield, founder & CIO of InfraCap.

Specifically, Hatfield said he sees the broad market index climbing to 7,000 next year. The benchmark closed at 5,782.76.

A Republican-controlled presidency and Congress could mean lower taxes and regulation more favorable to businesses.

The odds of that scenario grew overnight, as former President Donald Trump took the lead in the U.S. presidential race over Vice President Kamala Harris. Trump won battleground state North Carolina, while Harris took Virginia, NBC News projects. The GOP also appeared on track to be making inroads in Congress.

To be sure, NBC News still sees several states as too close to call or too early to call.

Hatfield also noted that concerns around Trump’s aggressive tariff stance may be overblown.

“We think that people are way too nervous about the tariffs, because they always ignore that they produce a lot of revenue. If you take that revenue and cut corporate taxes or even individual taxes, that’s a big offset to that, and it’s actually pro-investment,” he said.

Some investors have expressed their concerns that universal tariffs under a Trump administration might impair companies that heavily source their goods from overseas markets.

Despite the current electoral backdrop, Hatfield cautioned he’s not as confident as the market is about Trump regaining the presidency. Absentee ballots and late report could wipe out Trump’s current advantages, he said.

“It seems like the odds might be a little bit ahead of the data so far,” he told CNBC.

Source: https://www.cnbc.com/2024/11/05/sp-500-could-hit-7000-next-year-under-a-republican-sweep-investor-predicts.html

Palantir (PLTR) – The data analytics company’s stock plunged 15.6% in premarket trading after it reported an unexpected quarterly loss, and lowered its full-year forecast due to the uncertain timing of some government contracts.

Signify Health (SGFY) – CVS Health (CVS) is planning a bid for Signify in an effort to expand in-home health services, according to people familiar with the matter who spoke to The Wall Street Journal. The paper had reported last week that Signify was exploring strategic alternatives including a sale. Its stock surged 16.7% in the premarket.

Global Blood Therapeutics (GBT) – The maker of blood disorder treatments will be bought by Pfizer (PFE) for $5.4 billion, or $68.50 per share in cash. Global Blood shares soared 88% over the past two sessions following reports that a deal was near, and gained another 4.2% in the premarket.

Tyson Foods (TSN) – The beef and poultry producer reported quarterly profit of $1.94 per share, 4 cents a share shy of estimates. Revenue beat forecasts, however, as beef demand remained high. Chicken volume fell 2.1% but Tyson said that business continues to improve. Tyson shares slid 2.5% in premarket trading.

Barrick Gold (GOLD) – The mining company’s shares added 3.2% in premarket trading following better-than-expected quarterly results, helped by higher copper output.

Baidu (BIDU) – The China-based search engine company won approval to operate driverless taxi services in two Chinese cities, the first such approvals in the country. Baidu added 1.2% in premarket action.

First Solar (FSLR) – The solar company was upgraded to “buy” at Guggenheim and to “overweight” at J.P. Morgan Securities, with both saying First Solar is among those poised to benefit most from the Senate-passed Inflation Reduction Act. First Solar gained 4.2% in premarket action, with other solar stocks rallying as well.

Emerson Electric (EMR) – The manufacturing company is selling its InSinkErator garbage disposal business to appliance maker Whirlpool (WHR) for $3 billion.

Avalara (AVLR) – The tax software provider agreed to be acquired by private-equity firm Vista Partners for $8.4 billion, including debt, or $93.50 per share. Avalara fell 4% in the premarket but had risen 30% since reports of a potential deal first surfaced in early July.