If you invested $100,000 into Zoom $ZM at the peak of the pandemic hype in 2020, you would have less than $12,000 left today.
The stock crashed over -88%, eroding nearly $130 BILLION in market value as the work from home bubble collapsed. Source: Bull Theory
US futures hit a new ALL TIME HIGH after Washington Post confirmed a US-Iran ceasefire framework for 60 days.
Dow Jones is up +0.91% hitting 51,211. S&P500 is up +0.95% hitting 7,569. Nasdaq is up +1.35% hitting 29,995. Russell is up +1.57% hitting 2,922. Source: Bull Theory
TRUMP JUST PUBLISHED THE EXACT LIST OF COUNTRIES REQUIRED TO JOIN THE ABRAHAM ACCORDS AS THE PRICE OF ANY IRAN PEACE DEAL
A proposed geopolitical framework reportedly backed by Donald Trump would require nine Middle Eastern nations to simultaneously sign or support the Abraham Accords, with no exceptions allowed. Saudi Arabia, Qatar, Pakistan, Türkiye, Egypt, and Jordan would all need to formally normalize relations with Israel, while the UAE and Bahrain would reinforce the coalition as existing members. Iran was reportedly offered the possibility to join under the condition of recognizing Israel, otherwise remaining isolated and in conflict. The proposal emphasizes that the agreement must happen collectively or fail entirely. Supporters see it as an attempt to reshape regional alliances, while critics view it as highly unrealistic given current tensions and political divisions. Source: Roland Carter
Short Squeeze Risks Rising?
“…Goldman Sachs’ trading desks argue that the core tension in today’s market is not about the strength or weakness of fundamentals, but rather the excessive accumulation of short positions, which—if triggered into covering—could unleash a self-reinforcing upward spiral…” Source: kristen shaughnessy @kshaughnessy2
The decline in the number of public companies has been driven by the disappearance of small companies.
Source: @a16z, (((The Daily Shot))) @SoberLook
Immune SPX?
The gap between SPX and inverse MOVE remains enormous. Equities keep trading as if the recent explosion in bond volatility is somebody else’s problem. Source: TME, LSEG Workspace Activate to view larger image,
The IRS just agreed to never audit Trump again.
A one-page addition quietly attached to yesterday's $1.8 billion settlement permanently bars the IRS from examining Trump's tax returns, his family, and his companies. The original settlement said nothing about taxes. This showed up the next day. Former IRS commissioner Danny Werfel said he was "unaware of a single precedent where the IRS has agreed in advance to permanently forgo examination of previously filed tax returns for a specific person or business." The settlement was sold as accountability. The extra page is a lifetime audit exemption for the president. Source: POLITICO, FT
President Trump called on AI companies to build, bring, or buy 100% of the energy needed for their data centers as part of his “Ratepayer Protection Pledge.”
Monthly tokens processed across Google surfaces: May 2024: 9.7T May 2025: ~480T May 2026: 3.2Q+ That is 7x Y/Y growth. Source: Wall St Engine
