OVERVIEW
The Weekend Rip: December 29, 2024

Source: Tenor.com

It was a relatively quiet week for the major averages, but under the surface, those traders hanging around through year-end are primarily looking for opportunities in small-cap stocks and crypto. 🕵️ 

Let’s recap and prep you for another shortened week. 📝

What Happened?

💪 On Monday, mega-cap strength helped buoy the broader stock market indexes. Rumble roared after a Tether investment, The Daily Rip Live’s hosts outlined their trades for the end of 2024, and the 10 largest stocks hit a new record as a percentage of the S&P 500’s total market cap.

💚 On Tuesday, stocks were firmly in the green during a shortened Christmas Eve session. Santa Claus was given credit for the rally arriving, American Airlines almost grounded holiday travelers, and we unwrapped another wild year on Stocktwits.

🎄 On Wednesday, U.S. markets were closed for the Christmas holiday.

😐️ On Thursday, stocks had a holiday hangover, with small-cap stocks primarily seeing trading activity as most institutional investors take off for the year. Apple approached a $4 trillion market cap following analyst optimism, the K-shaped economic recovery continued, and we rolled out the “perfect holiday watch party movie” on the Stocktwits YouTube channel.

🎅 On Friday, stocks had their worst day in weeks but managed to close the shortened holiday week marginally in the green. Crude oil prices are drawing eyes back to the energy sector, and Trump is looking to stop the clock on TikTok’s ban.

😐️ This week’s Stocktwits Top 25 showed mixed performance vs. the indexes.

Here are the closing prices: 

Bullets From The Weekend 📰

🏬 Big Lots will keep hundreds of stores open following a last-minute deal. The discount chain filed for bankruptcy in September; however, it agreed to a sale transaction with an investment firm this past Friday. Variety Wholesalers, which owns more than 400 retail stores, will acquire between 200 and 400 Big Lots stores and up to two distribution centers. While the majority of its 963 remaining locations will close following a failed acquisition by PE firm Nexus Capital Management, this latest deal will keep the brand alive and save hundreds of jobs. CNN Business has more.

😬 Google CEO Sundar Pichai tells employees, “the stakes are high” in 2025. Google executives held a 2025 strategy meeting, setting the stage for a year of increased competition, regulatory hurdles, and advancements in AI. Pichai said Google will introduce a number of AI features during the first half of 2025 but also warned it would be a challenging year as “we are facing scrutiny across the world.” More from CNBC.

🧾 Canada-based accounting startup leaves customers high and dry. Bench, which offered software-as-a-service for small and medium-sized businesses, abruptly shut down this week via a notice on its Website. The company’s entire website is currently offline except for that notice, leaving its more than 35,000 U.S. customers without access to their bookkeeping and tax reporting documents right before year-end and the beginning of tax season. Bench’s notice says its customers should file a six-month extension with the IRS to “find the right bookkeeping partner.” Irony at its finest. TechCrunch has more.

PRESENTED BY STOCKTWITS
The Weekend Rip With Ben & Emil 🎁 

In the final episode of 2024, Ben and Emil wrap up another wild year on Stocktwits, covering the biggest retail investor and trader trends, the market’s top performers, and predictions for 2025 that you don’t want to miss! 🤩 

THE BRIEF

Need a concise summary of what’s going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

Economic Calendar

Source: TradingEconomics.com

It’s a lighter week of economic data, with investors getting some additional info on housing and economic activity. In addition to the above, check out this week’s complete list of economic releases.

Earnings This Week

Only two stocks report on Thursday, with the rest of the week completely empty.

Source; Stocktwits.com

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

IN PARTNERSHIP WITH MONEYSHOW
Join Me At MoneyShow Vegas In February! 🎫 

My presentation, “Stack The Trading Odds In Your Favor With Social Sentiment Data,” will explain how Wall Street and Main Street use social data to identify market opportunities and manage risk. Register here, and I’ll see you then! 👍

Not an offer or recommendation by Stocktwits nor is this investment advice. See disclosure.

Links That Don’t Suck 🌐

📰 Billionaire HBO creator Charles Dolan dies aged 98

🧑‍💼 C-suite goes gig as demand for fractional work rises

🕵️ The US proposes rules to make healthcare data more secure

📺️ NFL, Netflix break streaming records with Christmas Day double-header

🚭️ Belgium will ban sales of disposable e-cigarettes in a first for the EU

🤔 Honda’s CEO struggles to explain why Nissan merger makes sense

🧑‍🏭 BYD contractor denies ‘slavery-like conditions’ claims by Brazilian authorities

❌ Court rejects Starbucks’ challenge to US labor board, ruling it illegally fired baristas

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