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NEWS
Mega-Caps Bring In The Green

Source: Tenor.com

Mega-cap tech kept the major averages in the green as the rest of the market flatlined, with volumes light as expected as 2024 grinds to a halt. Individual stock news is keeping the market interesting, with many retail favorites finding a catalyst to continue moving enough to entertain traders who aren’t yet on holiday. 👀

Today’s issue covers what has Rumble roaring back, top headlines summarized, and Daily Rip Live hosts’ key trades heading into year-end. 📰

Here’s the S&P 500 heatmap. 4 of 11 sectors closed green, with technology (+0.89%) leading and consumer staples (-1.28%) lagging.

Source: Finviz.com

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $SLGL, $RAPT, $DESP, $PONY, $SES 📉 $AILE, $KO, $IEP, $APLT, $TPIC*

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

COMPANY NEWS
Rumble Roars After Tether Investment 📈 

YouTube competitor Rumble has been looking to break its link from the traditional “Trump Trade” stocks, and today’s news finally provides it with a catalyst. 🤔 

Tether, a cryptocurrency platform operator and creator of the Tether stablecoin, will invest $775 million in the company, buying 103.3 million shares at $7.50 each.

Rumble CEO Chris Pavlovski will remain a majority shareholder in the firm and said the company will use $250 million of the proceeds to “support growth initiatives.” The remaining funds will be used in a self-tender offer for up to 70 million of its Class A Common Stock at the same price to give existing shareholders exit liquidity.

Shares surged 81% to their highest level since September 2022, with Stocktwits sentiment hitting ‘extremely bullish’ territory. Additionally, 57% of 1,200 users polled expect this investment to boost confidence and growth in Rumble. 👍️ 

Source: Stocktwits.com

Lastly, while we’re talking about emerging media companies, sports streamer DAZN acquired Foxtel in a $2.2 billion deal. The acquisition will help establish the sports entertainment platform as a leader in its domain in the Australian market, enhancing its global reach and footprint. 📺️ 

SPONSORED
These cannabis gummies keep selling out in 2024

If you’ve ever struggled to enjoy cannabis due to the harshness of smoking or vaping, you’re not alone. That’s why these new cannabis gummies caught our eye.

Mood is an online dispensary that has invented a “joint within a gummy” that’s extremely potent yet federally-legal. Their gummies are formulated to tap into the human body’s endocannabinoid system. 

Although this system was discovered in the 1990’s, farmers and scientists at Mood were among the first to figure out how to tap into it with cannabis gummies. Just 1 of their rapid onset THC gummies can get you feeling right within 5 minutes!

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

PRESENTED BY STOCKTWITS
Daily Rip Live’s Key Trades For The End Of 2024 👀 

Daily Rip Live hosts Shay Boloor and Jordan Lee cover everything you need to know about trading into year-end. Holiday week volatility, Bitcoin’s record outflows, Tesla’s strength, Palantir’s partnerships, and more that you don’t want to miss! 🎁 

STOCKS
Other Noteworthy Pops & Drops 📋️ 

Hylion Holdings (-5%): The U.S. Department of Energy’s (DOE) Methane Emissions Reduction Program has awarded the firm a $6 million grant. The company said it will install up to 2 megawatts of its KARNO generators in collaboration with oil and gas partners. The project has $8.4 million in federal and non-federal funding.

MicroStrategy (-8%): The Michael Saylor-owned software enterprise announced its weekly Bitcoin buy, this time of over 5,000 BTC for around $561 million.

Arm Holdings (-4%): Over the weekend, a U.S. federal court sided with Qualcomm after a week-long trial, ruling that its licensing agreement with Arm remained intact despite claims of a breach.

XCel Brands Inc. (-15%): The media and consumer product company posted slightly better-than-expected third-quarter results, drawing a divided reaction.

Traws Pharma (+147%): Announced significant progress in developing its investigational one-dose influenza therapy, tivoxavir marboxil, for H5N1 bird flu treatment.

Anavex Life Sciences (+32%): The biopharma company’s jump was fueled by a mix of positive earnings results and regulatory progress in Europe.

Intuitive Machines (+7%): The space exploration firm secured additional contracts from NASA’s Near Space Network for Direct-to-Earth (DTE) services.

TeraWulf (-11%): Despite TeraWulf’s new deal to deliver more than 70 megawatts (MW) of data center infrastructure to Core42, a subsidiary of artificial intelligence and cloud computing giant G42, the announcement failed to cushion the impact of Bitcoin’s decline on the stock.

Optical Cable Corp. (+63%): The fiber optic and copper data communication cable manufacturer returned to profitability during its fiscal fourth quarter.

Rigetti Computing (+16%): The quantum computing company unveiled its 84-qubit Ankaa-3 quantum computer, which promises to accelerate algorithmic research.

Pony AI (+9%): The autonomous-driving company, which specializes in robotaxi and robotruck services, received bullish notes from BofA Securities and Goldman Sachs.

Nordstrom (-2%): The luxury retailer is being taken private by members of the Nordstrom family in a transaction valued at $6.25 billion.

Paramount Global (-3%): “Sonic the Hedgehog 3,” had a strong opening weekend, collecting $62 million in ticket sales over the weekend, dethroning Walt Disney Co’s ($DIS) prequel “Mufasa: the Lion King,” according to Box Office Mojo.

COMMUNITY VIBES
One Tweet To Sum Up The Day 🤯 

The 10 largest stocks in the S&P 500 currently account for 39.9% of the index’s total market cap

— Stocktwits (@Stocktwits)
3:15 PM • Dec 23, 2024

Links That Don’t Suck 🌐

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📱 Pavel Durov says Telegram is now profitable

🔮 13 anonymous media executives make predictions for the new year

🚀 US accuses Rocket Homes of illegal kickbacks in mortgage scheme

🖨️ Xerox to buy printer maker Lexmark from Chinese owners in $1.5 billion deal

🫙 The Container Store files for bankruptcy, vows to keep stores operating as normal

🎫 Winner steps forward to claim $1.1 billion Mega Millions jackpot nearly 9 months after drawing

🍯 Popular Honey browser extension steals creator revenue, scams users, claims investigative video

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

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Author Disclosure: The author of this newsletter holds a position in Paramount Global. 📋