“We have to let restrictive policy do its work on inflation.”
Fed Chair Jay Powell Source: Lawrence McDonald, Bloomberg
The P/E ratio of Gamestop, $GME, has spiked to a WHOPPING 1,210x
In other words, it costs $1,210 to purchase just $1 of earnings generated by $GME. By comparison, the P/E ratio of Nvidia, $NVDA, is 34x. Meanwhile, $GME is up nearly 400% this month hitting its highest levels in over 2 years. Over 175 million $GME shares were traded on Monday, 30 TIMES the 1-year average, according to Bloomberg. Source: The Kobeissi Letter
Non major macro weeks have been better...
Source: BofA
The true definition of ‘micromanager’ ?
Source: Corporate Rebels
JUST IN: The odds of SEC rejecting Ethereum ETFs by claiming ETH is a security have gone up
Source: Bloomberg's @JSeyff
Alibaba revenue vs. stock price over the last 10 years
Revenue: +2,047% Stock Price: -16% $BABA
Radar🚨
BREAKING: Short sellers of GameStop $GME and $AMC have lost $5 billion in 2 days. Who are the short sellers by the way hedge funds ?
SUMMARY OF FED CHAIR POWELL'S COMMENTS (5/14/24):
1. "Overall a good picture looking at US economic data" 2. Inflation was notable in Q1 for the lack of further progress 3. Housing inflation has been a bit of a puzzle for the Fed 4. Restrictive policy may take longer than expected to lower inflation 5. Unlikely the Fed's next move will be an interest rate hike 6. "Credibility is everything for central banks" Source: The Kobeissi Letter
