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NEWS
Giving Thanks For All-Time Highs

Source: Tenor.com

The S&P 500 logged its best post-Thanksgiving Friday performance since 2012, with all major indices finishing in positive territory. Chip stocks rallied on reports of easing sanctions on China. Meanwhile, the dollar broke its eight-week winning streak, sliding to a one-month low. 👀

Today’s issue covers risk assets continuing to rise, The Container Store slumping to fresh lows, and Bitcoin braces for another attempt at $100k. 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with discretionary (+1.03%) leading and real estate (-0.46%) lagging.

Source: Finviz.com

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $AIEV, $BSLK, $KLTO, $ATHE, $GRRR 📉 $MOBX, $RMCO, $HIMS, $ASML, $SPCE*

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

STOCKS
The Trend Continues Through Thanksgiving 🥳 

Technical analysts often say, “The trend is your friend,” and boy, is that ringing true this year. The S&P 500 just closed at new all-time highs, jumping 6% for November, as it tries to secure back-to-back +20% years for the first time since 1998.

Below is a monthly chart of the S&P 500 since 2009, with the 200-day moving average showcasing this secular bull market’s long-term performance. Despite all the reasons to be negative this year, the momentum remains on the upside, and bulls are taking advantage of it while they can. 📈 

Source: TradingView.com

Global equities (and other risk assets) also continue to trend higher, providing a solid backdrop for U.S. stocks to climb the “wall of worry.” Here’s a good example of the German DAX pulling back to support (and getting the bears all riled up) before returning back towards all-time highs.

Source: TradingView.com

At some point there will be a catalyst to throw the bulls off their game. But for now, the path of least resistance remains to the upside. While that doesn’t mean being careless with your investing and trading, it probably means trying to play the short side of the market will continue to be an uphill battle. 🤷 

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COMPANY NEWS
The Container Store Slides Towards Bankruptcy 😬 

It’s Black Friday, and buyers are out shopping for deals at stores and in the stock market. Unfortunately for one retailer, not even a holiday shopping spree can help its share price stay off their all-time lows. 🛒 

In 2019 and 2020, The Container Store was a cultural phenomenon, as the Netflix show “Tidying Up” caused customers to declutter their lives with storage bins, pantry and drawer organizers, shelves, and more. However, that effect has worn off, with a weak housing market and steep competition causing investors to lose hope in the company’s long-term potential.

In October, the company stopped providing financial guidance as it evaluated strategic alternatives. It also issued a “going concern” notice, which warns investors that the company’s management and auditors have substantial doubt about its ability to continue operating as a business for the foreseeable future (next 12 months). ⚠️ 

Another infamous retailer, Beyond Inc., was supposed to provide $40 million to The Container Store as part of a strategic partnership. Still, recent reports indicate that the deal has begun to unravel…leaving TCS scrambling to find alternative financing.

Investors are stuck waiting for updates right now, with shares reaching a new all-time low today as the broader market makes new all-time highs. Sentiment among the Stocktwits community remains ‘bearish,’ as investors still haven’t heard a clear turnaround plan from management. Maybe this holiday shopping season will give the company some momentum, but it’s not a bet many investors are making. 👎️ 

Source: Stocktwits.com

CRYPTO
Bitcoin Remains Below $100k 😴 

Another week, another attempt for Bitcoin to break through that $100,000 milestone. With altcoins like Ripple, Algorand, Stellar Lumens, and others continuing to cruise higher, belief in the crypto bull market remains high among retail investors. 🐂 

While we all relax and watch Bitcoin this weekend, we’re asking Stocktwits users what will continue to drive this “new era” of crypto. So far, 59% believe the mass adoption via TradFi vehicles will help drive the next leg higher.

Time will tell. But for now, share your thoughts in the poll and see how the consensus view develops in the coming days! 👀 

Source: Stocktwits.com

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Source: Shop.Stocktwits.com

COMMUNITY VIBES
One Tweet To Sum Up The Week 🤔 

Price is what you pay; value is what you get… Is Nvidia actually cheaper than it was before rallying 1,300% over the last two years???

Crazy to think buying Nvidia now at $135 carries the same premium as buying at $15 in 2021…

$NVDA = 61x P/E
Forward P/E = 30.9x

— Stocktwits (@Stocktwits)
3:37 PM • Nov 29, 2024

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🛒 Thanksgiving 2024: $33.6B spent online, 72% of that on mobile, says Salesforce

❌ Amazon workers in India join Black Friday strike action for better wages and working conditions

😡 Passengers stage hunger strike on luxury Antarctica cruise after missing out on dream holiday

✈️ A woman bypassed multiple security checkpoints to get on a Delta flight to Paris. Here’s what we know

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

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