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NEWS
Bulls Go Black Friday Shopping

Source: Tenor.com

Big tech was the laggard today, but bulls managed their fourth straight day of gains despite Nvidia’s lackluster performance. Economic data remains more positive than negative, giving bulls confidence to continue pressing their bets into next week’s lower-volume holiday sessions. 👀

Today’s issue covers “Magnificent Seven” laggard Google, MicroStrategy’s major reversal, and the Stocktwits community continuing to bet on Snowflake. 📰

Here’s the S&P 500 heatmap. 1 of 11 sectors closed green, with utilities (+1.76%) leading and technology (-0.26%) lagging.

Source: Finviz.com

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $ESTC, $CTV, $CRNC, $BDRX, $RNLX 📉 $INTU, $MSTR, $CLSK, $RZLV, $IQ*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Justice Department Goes After Google 🧑‍⚖️ 

Nvidia was the only “Magnificent Seven” stock to close in the green today, with Google leading to the downside following continued regulatory pressure. 🚨 

The Department of Justice (DOJ) is calling for Google to divest its Chrome browser to put an end to its search monopoly. The proposed break-up would “permanently stop Google’s control of this critical search access point and allow rival search engines the ability to access the browser that for many users is a gateway to the internet.”

Shares of Google finally felt the pressure of the news today, renewing a focus on the mixed performance of several “Magnificent Seven” stocks recently. Tesla is the clear standout, with Trump’s win propelling the electric vehicle maker. Meanwhile, Apple, Microsoft, Google, and Meta are stuck awaiting a clear growth catalyst. ⏸️ 

Source: Koyfin.com

With mega-caps posting mixed performance and speculative behavior booming, the equity-market focus remains on small and mid-cap stocks that are playing catchup into year-end and 2025. 👀 

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Imagine a shopper visiting an outdoor store, looking for the perfect jacket for an upcoming hiking trip. They describe their needs to a knowledgeable salesperson: “I’m looking for a lightweight jacket for cold-weather hiking.” The salesperson doesn’t just point them to any jacket—they ask questions about the type of terrain, expected temperatures, layering preferences, and even suggest other essentials for a winter hike. They might recommend insulated layers, moisture-wicking fabrics, or complementary items like gloves and thermal socks to enhance warmth without bulk. This expert guidance helps the customer make a confident, well-informed choice, leaving them fully prepared for their adventure.

Rezolve Ai brings this level of expertise and personalization to digital commerce. When that same shopper types “lightweight jacket for cold weather hiking” into an online search, our Conversational AI solution, powered by Brainpowa, engages just like an expert salesperson.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. 

COMPANY NEWS
MicroStrategy Madness Continues 😵‍💫 

With Bitcoin approaching $100,000, bulls continued to press their bets in MicroStrategy. The stock soared above $500 in the pre-market before running into a wall of resistance. From peak to trough, it fell 33% intraday.

After the bell, it was revealed that the company completed another $3 billion debt offering to buy more Bitcoin. Citron Research also revealed a short position in the stock. Still, with the stock up nearly 400% since early September, bulls may be simply losing some control over its accelerated momentum. 🤢 

Source: TradingView.com

And the activity Bloomberg ETF analyst Eric Balchunas is tracking confirms the bullish exuberance we are seeing. The volume in Bitcoin-related equity vehicles soared to a new record, hitting $70 billion. November has been a breakout month for the space… and many expect the strength to continue through the Thanksgiving holiday. After all, nothing gets prices going like family, friends, and FOMO. 🦃 

BITSANITY: Let’s try $70b in volume today for The Bitcoin Industrial Complex, crushing yesterday’s record.. About $50b of that was from $MSTR and its 2x friends (all of which dropped records). $IBIT no slouch tho at $5b, its second biggest day ever. $MSTZ w its first $1b day.

— Eric Balchunas (@EricBalchunas)
9:34 PM • Nov 21, 2024

Crypto-linked stocks continue to ride their trends higher, except for Bitcoin miners like CleanSpark…which can’t seem to rise sustainably in any environment. Altcoins Solana, Ethereum, Ripple, and others were trending heavily today as traders bet on them breaking out along with Bitcoin. 🤑 

STOCKS
Other Noteworthy Pops & Drops 📋

Nano Nuclear Energy (+26%): Announced that John G. Vonglis, former CFO of the U.S. Department of Energy (DOE), has transitioned into the company’s Executive Director of Global Government Affairs role. ⚡️ 

Elastic (+24%): The enterprise data software company easily beat earnings and revenue expectations, stabilizing its results and giving investors confidence that challenges caused by its go-to-market changes have dissipated. 🧑‍💻 

Gap (+21%): The retailer raised its guidance before the holiday shopping season, touting a “strong start” to the quarter. Third-quarter results topped estimates despite Hurricanes and unseasonably warm weather hurt sales. 👕 

BJ’s Wholesale Club (+8%): Earnings and revenue topped expectations, with it reaching a milestone of 7.5 million members. It also announced its first membership fee increase in seven years, which will drive bottom-line improvements. 🪪 

PDD Holdings (-10%): The Temu parent’s revenue missed expectations as investments in its platform ecosystem weighed on margins. Intensifying competition and a tepid Chinese economy continue to weigh on the stock. 🛒 

Deere (+8%): The farm equipment maker’s material earnings beat overshadowed its tepid current quarter and forecasted revenues. Demand has pulled back amid falling crop prices, with inventories at dealers remaining high. 🚜 

Ross Stores (+8%): Cost-cutting helped the discount retailer lift its annual earnings forecast. Revenues remain challenged due to a cautious lower-income consumer base. It sees comparable holiday-quarter sales in line with estimates (+2-3%). 💵 

STOCKS
$SNOW-here To Hide 🕵️ 

Daily Rip Live co-host Shay Boloor was a major Snowflake bull coming into yesterday’s after-hours earnings, with the Stocktwits community also expecting a 10% or more jump going into the print. And boy, did it deliver… 🤩 

Source: Stocktwits.com

The stock posted its best single-day move after materially beating earnings and raising its guidance. Management’s confidence in their recent traction with newer products and their positioning in the artificial intelligence (AI) race helped renew investor enthusiasm for the previously beaten-down software name.

Shares rose 31% on the day, but the Stocktwits community is still looking for more upside. In our latest platform poll, roughly half of our community said the stock is “still undervalued,” with Stocktwits sentiment also sitting in ‘extremely bullish’ territory. Shay agrees, sharing his $300 price target on this morning’s Daily Rip Live.

Source: Stocktwits.com

Related software stocks like Salesforce, Oracle, MongoDB, and others caught a bid as money rotates away from semiconductors and into software, cybersecurity, and other tech sub-industry groups that have recently broken out. 💸 

It just goes to show the power of the Stocktwits community, which collectively knows how to track down relevant market opportunities (and risks). Nice call, y’all. 👍️ 

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: S&P Global Composite PMI (9:45 am ET), Michigan Consumer Sentiment (10:00 am ET). 📊

Pre-Market Earnings: Destination XL Group ($DXLG), Addex Therapeutics ($ADXN), Sunalnds Technology ($STG). 🛏️

After-Hour Earnings: None — enjoy your weekend. 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Links That Don’t Suck 🌐

🚨 US charges Indian billionaire Gautam Adani with fraud

🏘️ Home sales surged in October, just before mortgage rates jumped

🪫 Northvolt files for bankruptcy as cash dwindles to $30 million

💳️ Apple Pay, Cash App, PayPal and other apps to be treated more like banks

🧑‍💼 SEC Chair Gary Gensler will step down Jan. 20, make way for Trump replacement

😡 Jeff Bezos denies Elon Musk claim he urged people to sell their Tesla, SpaceX stock because Trump would lose

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