Gensler to step down

Google stock hammered after DOJ calls for Chrome sale, Snowflake rockets 32%, MicroStrategy tumbles after Citron Research shorts the stock, Stanford’s AI Center names US the top AI ecosystem, and SEC Chair and crypto foe Gary Gensler to step down in January...

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Market Briefing
November 22, 2024

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Good morning.

The Fast Five → Google stock hammered after DOJ calls for Chrome sale, Snowflake rockets 32%, MicroStrategy tumbles after Citron Research shorts the stock, Stanford’s AI Center names US the top AI ecosystem, and SEC Chair and crypto foe Gary Gensler to step down in January…

📈 Goldman Sachs: “More Than 1,600 New Millionaires Quietly Being Anointed Due to Breakthrough Technology” - And that’s only the beginning…
Click here to watch this special investigative exposé »
From Porter Stansberry

Calendar: (all times ET) - Full calendar

  • Today:
    Consumer sentiment, 10:00 am

  • Monday:
    none

Your 5-minute briefing for Friday, November 22:

BEFORE THE OPEN

As of market close 11/21/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 41.29% for Week of November 21 2024

Last week: 49.84%. Updates every Friday.

Market Wrap:

  • Futures slip: Dow -14 pts, S&P -0.1%, Nasdaq -0.2%.

  • Thursday: Dow +462 pts, S&P +0.53%, Nasdaq flat. Nvidia +0.5% post-earnings.

  • Weekly gains: Nasdaq +1.56%, S&P and Dow positive after postelection pause.

  • Gap +15% on earnings beat; Intuit -5% despite strong results.

  • Today: PMI reports, consumer sentiment update, bitcoin nears $100K.

EARNINGS

No earnings watched today. Full calendar »

HEADLINES

Shares of Google parent Alphabet tumbled more than 6% on Thursday after the Justice Department asked a federal judge to order a selloff of Google’s Chrome web browser.

Gensler departure to leave SEC in hands of an acting chair. Gensler pursued crypto fraudsters, stock-trading overhaul.

  • Wall Street closes higher as Dow, S&P hit one-week tops (more)

  • Oil heads for weekly advance as Russia-Ukraine war escalates (more)

  • Gold surges and euro sags as broader war risks rise (more)

  • Dollar hugs 13-mo peak as market awaits next Fed cue (more)

  • US companies stocking up to cushion incoming Trump tariffs (more)

  • Snowflake rockets 32%, its best day ever, after earnings beat (more)

  • Nvidia shares fluctuate as investors digest third-quarter earnings (more)

  • MicroStrategy tumbles after Citron Research shorts the stock (more)

  • Coinbase eyes more acquisitions as it expands payments business (more)

  • Stanford’s AI Center names US the top AI ecosystem, China follows (more)

  • Bluesky CEO says X rival is ‘billionaire proof’ (more)

IN PARTNERSHIP WITH AI CAPITAL NEWS

This Stock is Up 220% and Primed for the Next Breakout

Bank of America analysts predict gold will hit $3,000 by 2025 — and this hidden gold stock is set to benefit.

With gold's post-election dip, now could be a good opportunity to consider adding to your portfolio. Savvy investors understand the value of holding gold and gold stocks.

This stock has made impressive gains in recent years, and with insiders continuing to buy, it's one to keep on your watchlist.

P.S. The last gold stock we highlighted in this newsletter saw a strong rally, climbing over 60% just days after our feature. Be sure to keep this one on your watchlist!

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DEALFLOW

M+A | Investments

  • Affinity in talks to buy seafood supplier Golden Fresh (more)

  • Flow Service Partners, a provider of HVACR and plumbing services, received an investment from Quad-C (more)

  • AXCS Capital, Inc., a leader in real estate capital markets and owner of George Smith Partners, received an investment from Conversant Capital LLC (more)

VC

  • Enveda, a biotech company using AI to translate nature into new medicines, raised $130M in Series C funding (more)

  • Ladder, an iOS app for training, raised $105M in funding (more)

  • Nivoda, a digital marketplace and supply chain for the diamond industry, raised $51M in funding (more)

  • Iontra, a battery charging technology company, raised $45M in Series C funding (more)

  • Inversion, a precision delivery on-demand company from space to anywhere on Earth, raised $44M in Series A funding (more)

  • Clean Skin Club, a brand at the intersection of skincare and hygiene, raised $32M in funding (more)

  • VISO TRUST, a company specializing in AI-powered third-party risk management, raised $24M in funding (more)

  • New Lantern, a cloud-native AI radiology company, raised $19M in Series A funding (more)

  • Aviz Networks, a company specializing in AI-driven networking solutions, raised $17M in Series A funding (more)

  • Faircraft, a provider of a lab-grown leather using patented tissue engineering techniques, $15.8M in funding (more)

  • Aira Technologies, a company specializing in applying AI to cellular network infrastructure, raised $14.5M in Series B funding (more)

  • Epic Cleantec, an innovator in water reuse technology for the built environment, raised $12M in Series B funding (more)

  • OceanWell, a water technology company, raised $11M in Series A Funding (more)

  • Trustero, a company specializing in AI-powered security and compliance, raised $10M+ in Series A funding (more)

  • Anitian, a provider of compliance automation solutions, raised $7M in Series Funding (more)

  • Shinami, a developer platform across Move-based blockchains, raised $5.645M in Seed funding (more)

  • CalmWave, a creator of the Quiet ICU, raised $5.25M in funding (more)

  • KeySavvy, a platform that simplifies and secures private-party car transactions, raised $4.25M in funding (more)

  • TearSolutions, Inc., a biotech company developing therapies for the treatment of ocular surface related diseases, closed a $3M Series B funding round (more)

  • Alchemyca, a company converting organic waste into renewable natural gas, raised $2.5M in funding (more)

CRYPTO

  • Bitcoin flirts with $100,000 on optimism over US crypto outlook (more)

  • Texas court strikes down SEC's dealer rule in win for crypto (more)

  • XRP price surges 25% as headwinds for ripple clear even more (more)

  • Solana's SOL surges to record high above $260 (more)

BULLISH BITES

🤖 Playing Catch-up: Apple is reportedly working on ‘LLM Siri’ to compete with ChatGPT.

🤲🏻 Plot Twist: The fate of MSNBC could be in Trump’s hands.

⛳️ Pursuits: Derek Jeter and Eli Manning just invested in an indoor golf league. (Q: What is indoor golf?)

⌚️ Seamaster: The new "Daniel Craig" Omega.

DAILY SHARES

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