March 13, 2024
What You Missed
March 8
Nvidia broke $970/ share
- Stock price quickly corrected as investors feared a possible stock split.
- Stock splits have historically been somewhat bullish for prices.
- A split means cheaper prices for each share, which would attract more retail investors, theoretically driving the price back up.
March 11
Bitcoin Hits New ATH
- Bitcoin soared past $70k and broke past $73k on Wednesday.
- Although this idea is largely speculative, it should come at no surprise that price has been skyrocketing after the ETF approval – as Bitcoin becomes more integrated in the stock market and retirement funds, we can only assume price will continue to increase steadily (barring any economic disasters over the horizon).
March 12
Inflation
- Inflation data from CPI report shows sharper price gains: What it means for Fed rate cuts.
https://www.usatoday.com/story/money/2024/03/12/cpi-report-march-2024-inflation-data/72934243007/ - Inflation rose 3.2% YoY according to the March 12 report.
Interesting Finds
Turtle Beach
- Oversold? Turtle Beach appears to be forming a bottoming structure
- Price is down nearly 70% from the cycle high and lows have been following the blue trendline above
Boeing
- Boeing’s had a disastrous year – from failed inspections to a door blowing off a 737 in-flight, Boeing’s reputation has hit a new low.
- It’s hard to believe a military contractor like Boeing will fold – Could the industry titan storm through this downturn?
Palo Alto Networks
- Word on the street is that Nancy Pelosi bought millions of dollars on PANW options
- Palo Alto Networks provides network security solutions to government entities in the United States… and Israel.