BREAKING: Super Micro Computer stock, $SMCI, has now been halted 3 TIMES and is down 13%.
This comes just minutes after the US Justice Department announced a probe into the company. $SMCI recently delayed their 10-K filing for FY2024. The company said additional time is needed "to complete assessment of its internal controls over financial reporting." Source: The Kobeissi Letter
BCA's Marko Papic (@Geo_papic) sees Chinese monetary & fiscal stimulus as a "fairly big deal": "This is Beijing’s 'Whatever It Takes' moment.
Effectively, Beijing has reached a point where the policy focus shifts from guarding against moral hazard to guarding against political risks." He bets, that we are at the start of a major rotation out of US assets. Source: HolgerZ, Bloomberg
Warren Buffett's 14 Financial Rules of Thumb:
Source: The Investing for Beginners Podcast @IFB_podcast
Hilarious. $BABA
Source: TrendSpider
Mag 7 v. 2000s tech Bubble
Source: Stocktwits
China keeps giving. Another rate cut today >>>
*PBOC CUTS 14-DAY REVERSE REPO RATE TO 1.65% FROM 1.85% Meanwhile, Chinese stocks going vertical Source: Bloomberg, David Ingles
David Tepper, who runs the $6 billion hedge fund Appaloosa Management, is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures.
Tepper views China's stock market as more attractive than the US stock market due to valuation differences. Source: Markets Insider
Former President Donald Trump just called for Nancy Pelosi to be prosecuted for insider trading, citing her recent sale of Visa $V shares right before the DOJ lawsuit. 👀
“Nancy Pelosi has a little problem because her husband sold their Visa stock – they had a lot of Visa stock – one day before it was announced that Visa is being sued by the Department of Justice,” the GOP nominee said during a press conference at Trump Tower in New York. The former House speaker’s husband, Paul Pelosi, unloaded 2,000 shares of Visa stock worth between $500,000 and $1 million on July 1, financial disclosures show. On Tuesday, less than three months after the massive transaction, Visa was hit with a DOJ lawsuit alleging that the company illegally monopolized the debit card market. “Think of that. Nancy Pelosi sold vast amounts of Visa stock one day before the big lawsuit that we all read about a few days ago,” he said. “You think it was luck? I don’t.” “She should be prosecuted,” Trump declared. “Nancy Pelosi should be prosecuted for that.” Source: NY Post
