Germany's Dax closed at fresh all-time-high just as hedge fund Qube built a $1bn short bet against top German stocks
Volkswagen, Deutsche Bank, Rheinmetall, Siemens Energy, Hellofresh, and Morphosys are among those being wagered against. Source: Bloomberg
Tesla $TSLA dumped in after hours after reporting an earnings miss
Tesla shares drop 6% on weak auto revenue, warning of slower growth in 2024 Tesla reported revenue growth of 3% in the fourth quarter, trailing estimates. Auto revenue increased just 1% from a year earlier. Vehicle volume growth in 2024 “may be notably lower” than last year’s growth rate, the company warned. Source: barchart
Mega Cap Tech Stocks are now outperforming small-cap stocks by the largest margin since the peak of the Dot Com bubble
Source: Barchart
BREAKING: Nvidia, $NVDA, officially hits a record market cap of $1.5 trillion and is now up 27% in 2024
Over the last 3 weeks, Nvidia has added $320 billion in market cap. Since the October 2023 low, Nvidia's market cap is up nearly $600 billion. The stock is also just 6% away from surpassing Amazon as the 5th largest public company in the world. Just 2 years ago, Nvidia had a market cap of $300 billion. Source: The Kobeissi Letter
German manufacturing had been in crisis well before Russia invaded Ukraine
Putin's invasion only made this structural decline worse. Europe has an easy offset to this: a weaker currency. Euro needs to fall well below parity to offset the crisis in European manufacturing... Source: Robin Brooks
Total Put/Call Ratio dropped to 0.77 on Friday, one of the lowest levels in the last 2 years
Source: Barchart
Bridgewater tells investors it is “moderately bullish” on Chinese stocks as the prolonged rout made valuations attractive, a call made days before the country’s latest stock meltdown
Source: Bloomberg
EV sales are projected to grow 21% this year to 16.7 million vehicles, with China commanding nearly 60% share in Bloomberg’s outlook
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