WHEN SPACEX IPOs, THESE ARE THE STOCKS THE MARKET WILL CHASE NEX
Source: Justin Banks
The S&P 500's CAPE Ratio has moved up to 40, its highest level since 2000 and now above 99% of historical valuations. $SPX
Source: Charlie Bilello
The power of the AI trade...
While Taiwan’s $977 billion economy is less than a quarter of the UK’s $4.3 trillion, last week Taiwan overtook the UK in stock market capitalization at $4.14 trillion, making it the world’s seventh largest, according to data compiled by Bloomberg showing the combined value of companies with a primary listing on the island. The UK’s market was valued at around $4.09 trillion. Source: Bloomberg, Neil Sethi
Looking for a "Anthropic proxy"?
It seems that SK Telecom ($SKM) offers stronger exposure to Anthropic than Zoom ($ZM) due to a larger and more valuable stake. SKM owns ~1.07% versus ZM’s ~0.6%, making its holding worth about $8.6B vs. $4.8B at an $800B valuation. As a result, Anthropic represents a much bigger portion of SKM’s valuation. Investors effectively get more Anthropic exposure per share with SKM, while its core business appears undervalued. Despite recent gains, SKM is still seen as a better proxy for Anthropic ahead of a potential IPO. Source: Negligible Capital
Semiconductor stocks now represent a RECORD 13% of the total US stock market cap.
This share has more than QUADRUPLED over the last 4 years. The percentage is nearly TWICE as high as during the 2000 Dot-Com Bubble peak. Meanwhile, the Semiconductor ETFs, $SOXX, and $SMH are up 33% and 24% year-to-date, respectively. Source: Global Markets Investor, Topdown Charts, LSEG
Michael Burry just called the bottom on software stocks
He opened a new 3.5% position in PayPal $PYPL at $49.38 yesterday And is adding Salesforce $CRM and MSCI $MSCI this morning, per his Substack. His recent purchases: • PayPal $PYPL • Fiserv $FISV • Adobe $ADBE • Autodesk $ADSK • Veeva $VEEV Source: Michael Burry Stock Tracker
The Nasdaq-100 is up 12 days in a row - something it hasn't done since July 2017...and has only surpassed this length of win-streak, four times in its history...
Source: zerohedge
The S&P 500's rally has likely been driven by short covering and positioning adjustments as opposed to fresh capital, according to LPL Financial.
"Trading volume has been notably light, running below its year‑to‑date average for each of the past five sessions despite the advance in headline indices," Kristian Kerr, head of macro strategy at the wealth management firm, wrote in a note on Thursday. "This suggests the move higher is being propelled more by short covering and forced positioning adjustments than by fresh capital being put to work." Source: Neil Sethi
