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NEWS
Santa Rally Suppresses The Bears

Source: Tenor.com

Stocks bounced back but still closed deeply in the red for the week after the Fed’s rate cut and hawkish outlook. Leading the charge was Nvidia, which is battling a broken trend and trying to regain its momentum. Next week is a light one, with many hoping the light volumes will help the market drift higher for the holidays. 👀

Today’s issue covers Novo Nordisk’s worst day in 22 years, Bitcoin ETFs finally experiencing outflows, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with real estate (+1.82%) leading and consumer discretionary (+0.35%) lagging.

Source: Finviz.com

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $MSTR, $PLTR, $MNDY, $RKLB, $APP, 📉 $XPO, $SAIA, $TSLA, $ODFL, $PPC*

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

COMPANY NEWS
Novo Nordisk Nosedives 😬 

The Danish healthcare giant suffered its largest intraday drop since April 2022, falling 18% after providing an update on its experimental obesity drug, CagriSema. 💉 

The company’s phase 3 trial showed an average weight loss of 22.7% at 68 weeks, falling short of the 25% benchmark the company had hoped for, despite meeting primary endpoints of statistical significance versus placebo.

The news boosted its competitors in the weight loss drug space, including Eli Lilly, Amgen, and Viking Therapeutics. Additionally, it prompted several analyst notes that favored its rivals in the aftermath of these results. 📝 

Still, Stocktwits community sentiment stayed in ‘extremely bullish’ territory, as some users called the selloff “super silly,” citing the drug’s relative effectiveness, overall market size, and Novo’s massive pipeline of drugs. 🛒 

Source: Stocktwits.com

Shares are down 45% off all-time highs, leading investors to hotly debate whether this is a buying opportunity or if the stock’s long-term growth story is broken. 🤷 

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CHART OF THE DAY
Record Outflows Hit Bitcoin ETFs 📉 

Spot Bitcoin ETFs saw record withdrawals, losing $671.9 million in a single day amid a broader market selloff. This outflow coincides with a weakening demand signal as CME futures premiums decline, further pressuring Bitcoin below $100,000.

It’s the largest outflow since spot Bitcoin ETFs were approved, signaling a meaningful change in risk appetite that market analysts are watching closely. Whether this is the start of a new, negative trend remains to be seen. But the move has our attention! 👀

STOCKS
Other Noteworthy Pops & Drops 📋️ 

BlackBerry (+22%): Fiscal year 2025 third-quarter results that exceeded estimates on a reported basis, including contribution from the to-be-divested Cylance business.

Carnival Corporation (+6%): The cruise operator reported better-than-expected fourth-quarter earnings that were driven by “broad-based” progress and “strong pricing” in 2024 compared to 2023.

Darden Restaurants (+2%): The restaurant chain reported better-than-expected second-quarter earnings, driven by positive same-store sales at its four largest brands – Olive Garden, LongHorn Steakhouse, Yard House, and Cheddar’s Scratch Kitchen.

Rivian Automotive (+6%): Stocktwits posts showed that retail optimism was fueled by the stock’s resilience despite a recent downgrade and the overall market downturn.

Affirm Holdings (+4%): JMP Securities upgraded the stock, and WooCommerce designated the firm as a leading pay-over-time provider.

Humacyte Inc. (+38%): The FDA granted full approval for Humacyte’s Symvess, a bioengineered human tissue designed as a universally implantable vascular conduit for arterial replacement and repair.

Eos Energy Enterprises (+6%): It received the first loan advance of $68.3 million from its $303.5 million loan guarantee from the Department of Energy’s (DOE) Loan Programs Office.

PRESENTED BY STOCKTWITS
The Weekend Rip With Ben & Emil 🎁 

In the second-to-last episode of 2024, Ben and Emil break down the Fed’s “hawkish cut,” Novo Nordisk’s worst day in 22 years, their latest Bitcoin leveraged and inverse ETF plays, and a review of the Stocktwits community’s top trades of 2024.

COMMUNITY VIBES
One Tweet To Sum Up The Week 🎅 

🎶 Santa Rally, a nice green candle would do, it’s true,

Make December shine through…

Santa Rally, so lift up the indices tonight 🎶 x.com/i/web/status/1…

— Stocktwits (@Stocktwits)
5:51 PM • Dec 20, 2024

Links That Don’t Suck 🌐

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📣 OpenAI announces new o3 models

🪅 Party City is going out of business

⌨️ Attention gamers: Steam’s Winter Sale is now live

🤖 Humanoid robots coming soon, initially under remote control

🚨 CFPB sues America’s largest banks for ‘allowing fraud to fester’ on Zelle

🤦 FDIC suspends bonuses for senior officials under investigation for misconduct

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

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