Instant Trading LTD

29/03/2024

𝐆𝐌𝐄: 𝐆𝐚𝐦𝐞𝐒𝐭𝐨𝐩 𝐒𝐭𝐨𝐜𝐤 𝐒𝐢𝐧𝐤𝐬 𝟏𝟓% 𝐎𝐮𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐚𝐭𝐞 𝐚𝐬 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐑𝐞𝐚𝐜𝐭 𝐭𝐨 𝐖𝐞𝐚𝐤 𝐄𝐚𝐫𝐧𝐢𝐧𝐠𝐬

Retail traders’ favorite meme stock took a dive in early morning Wednesday and is now down more than 20% for the year.

Key Points:

GameStop picked up $1.79B in sales.
Stock crashed more than 15% at open.
Earnings slipped way below estimates.

GameStop stock GME dipped more than 15% to trade below $13 a share in the first Thursday deals after the videogame retailer posted disappointing earnings after market close on Wednesday. The company’s shares are now showing a loss of about 20% for the year and roughly a 50% decline in the past twelve months. Are the crazy meme stock days in the rearview mirror?

Regardless of how much you like the stock, fundamentals matter, too. For the quarter ended in January, GameStop pocketed $1.79 billion in revenue, sliding below consensus for $2.05 billion. Earnings were an even bigger miss. The retail traders’ darling earned 22 cents a share, or more than 26% below Wall Street’s views for profits of 30 cents a share.

The company’s core business—physical console games—showed a sizable drop. Hardware and accessories sales punched out at $1.09 billion, down from $1.24 billion. Software sales marked a steep 31% decline to $465 million from $670 million a year ago.

26/03/2024

𝐒𝐨𝐮𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐆𝐨𝐥𝐝 𝐌𝐢𝐧𝐞𝐫 𝐍𝐢𝐥𝐚𝐦 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐏𝐥𝐚𝐧𝐬 𝐭𝐨 𝐁𝐮𝐲 𝟐𝟒,𝟖𝟎𝟎 𝐁𝐢𝐭𝐜𝐨𝐢𝐧

Nilam Resources enters a letter of intent with Xyberdata to acquire MindWave, securing 24,800 Bitcoin to issue a new stock.

22/03/2024

𝐑𝐃𝐃𝐓: 𝐑𝐞𝐝𝐝𝐢𝐭 𝐒𝐡𝐚𝐫𝐞𝐬 𝐭𝐨 𝐒𝐭𝐚𝐫𝐭 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐚𝐭 $𝟑𝟒 𝐚𝐬 𝐈𝐏𝐎 𝐒𝐞𝐞𝐤𝐬 𝐭𝐨 𝐆𝐚𝐮𝐠𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐀𝐩𝐩𝐞𝐭𝐢𝐭𝐞

Social media stock flotation was priced at top of range, signaling high expectations and valuing the company at $6.4 billion.

Key Points:

Reddit shares to debut at $34 a piece.
Company gets a $6.4 billion valuation.
WallStreetBets remains a big threat.

Reddit stock is poised to debut in public markets today with its shares hitting the New York Stock Exchange at $34 a pop. The social media platform will carry the ticker symbol RDDT and flaunt an IPO (initial public offering) valuation of $6.4 billion—the top of the company’s own guidance. A total of 22 million shares will be issued for public ownership, except for an 8% chunk which will go to eligible users and moderators. In the offering prior to flotation, Reddit raised $748 million.

The funds raised and the top-of-range pricing inflated hopes of a comeback for tech companies at the doorstep of public markets. In that regard, Reddit’s IPO will help grasp investor appetite for social media companies daring to walk out of the private space and open up to outside investors. Some reports bolstered expectations for the IPO, saying Reddit’s stock has been subscribed more than 10 times.

Now the tricky part. Reddit has never turned a profit in its 18 years’ existence as a private company. It picked up revenue of $804 million in 2023 but realized a loss of $91 million. Also, a rising danger has emerged from within the many chat rooms.

WallStreetBets, the infamous trading-centric forum and the birthplace of meme stocks, has not pledged support for the IPO and has threatened to bet against it by shorting the stock.

19/03/2024

𝐒𝐭𝐚𝐫𝐛𝐮𝐜𝐤𝐬 𝐄𝐧𝐝𝐬 𝐍𝐅𝐓 𝐑𝐞𝐰𝐚𝐫𝐝𝐬 𝐏𝐫𝐨𝐠𝐫𝐚𝐦, 𝐏𝐚𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐖𝐚𝐲 𝐟𝐨𝐫 𝐍𝐞𝐰 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬

Starbucks, the renowned multinational coffee chain, has made the decision to terminate its NFT rewards program.

15/03/2024

𝐂𝐚𝐫𝐝𝐚𝐧𝐨 𝐅𝐚𝐥𝐥𝐬 𝟏𝟎% 𝐈𝐧 𝐑𝐨𝐮𝐭

Cardano was trading at $0.7051 by 04:37 (08:37 GMT) on the Investingcom Index on Friday, down 10.06% on the day. It was the largest one-day percentage loss since December 16, 2022.

The move downwards pushed Cardano's market cap down to $25.7123B, or 0.99% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $94.8001B.

Cardano had traded in a range of $0.7030 to $0.7641 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a stagnation in value, as it only moved 1.28%. The volume of Cardano traded in the twenty-four hours to time of writing was $1.8161B or 0.92% of the total volume of all cryptocurrencies. It has traded in a range of $0.6880 to $0.8097 in the past 7 days.

At its current price, Cardano is still down 77.25% from its all-time high of $3.10 set on September 2, 2021.

Elsewhere in cryptocurrency trading
Bitcoin was last at $67,771.5 on the Investingcom Index, down 7.59% on the day.

Ethereum was trading at $3,699.38 on the Investingcom Index, a loss of 6.66%.

Bitcoin's market cap was last at $1,339.3475B or 51.56% of the total cryptocurrency market cap, while Ethereum's market cap totaled $448.8158B or 17.28% of the total cryptocurrency market value.

12/03/2024

𝐍𝐞𝐱𝐨𝐧’𝐬 𝐌𝐌𝐎𝐑𝐏𝐆 𝐌𝐚𝐩𝐥𝐞𝐒𝐭𝐨𝐫𝐲 𝐭𝐨 𝐋𝐚𝐮𝐧𝐜𝐡 𝐖𝐞𝐛𝟑 𝐕𝐞𝐫𝐬𝐢𝐨𝐧 𝐨𝐧 𝐀𝐯𝐚𝐥𝐚𝐧𝐜𝐡𝐞

Korean developer Nexon to launch a web3 version of its MMORPG MapleStory on the Avalanche blockchain, introducing new gameplay mechanics.

08/03/2024

𝐓𝐞𝐬𝐥𝐚 𝐚𝐧𝐝 𝐒𝐩𝐚𝐜𝐞𝐗 𝐇𝐨𝐥𝐝 𝐎𝐯𝐞𝐫 $𝟏.𝟑 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐖𝐨𝐫𝐭𝐡 𝐨𝐟 𝐁𝐢𝐭𝐜𝐨𝐢𝐧𝐬: 𝐀𝐫𝐤𝐡𝐚𝐦

Arkham Intelligence claims to have identified Tesla and SpaceX's Bitcoin addresses of over $1.3 billion, revealing transaction histories.

05/03/2024

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐬𝐮𝐫𝐠𝐞𝐬 𝐩𝐚𝐬𝐭 $𝟔𝟖,𝟎𝟎𝟎, 𝐢𝐧 𝐬𝐢𝐠𝐡𝐭 𝐨𝐟 𝐫𝐞𝐜𝐨𝐫𝐝 𝐡𝐢𝐠𝐡

Bitcoin was perched at a two-year peak on Tuesday, breaking above $68,600 and stalking the all-time high as money keeps rushing into the largest cryptocurrency by market value.

Bitcoin has gained 50% this year and most of the rise has come in the last few weeks when inflows into U.S.-listed bitcoin funds have surged.

On Tuesday, it was at $68,500 in Asian hours, having reached a session high of $68,828, a whisker away from the all-time peak of $68,999.99 it set in November 2021.

Spot bitcoin exchange-traded funds were approved in the United States earlier this year. Their launch opened the way for new large investors and has re-ignited enthusiasm and momentum reminiscent of the run up to record levels in 2021.

"It's crypto mania 4.0, and I think if we continue to see fairly low bond and rate volatility, it could keep going. There's definitely something of an irrational behaviour creeping into the market," said Kyle Rodda, senior markets analyst at Capital.com.

Net flows into the 10 largest U.S. spot bitcoin funds reached $2.17 billion in the week to March 1, with more than half of that going into BlackRock (NYSE:BLK)'s iShares Bitcoin Trust, according to LSEG data.

"The appetite to gain exposure to Bitcoin is reaching insatiable levels," said Tony Sycamore, a market analyst at IG.

"While Bitcoin overbought in the short term, the move is far from done, and dips will be well supported with a move towards $80,000 not out of the question."

The rally has come in tandem with records tumbling on stock indexes from Japan's Nikkei to the S&P 500 and tech-heavy Nasdaq and with volatility gauges in equities and foreign exchange turning lower.

Smaller rival ether has hitched a ride on speculation that it too may soon have exchange-traded funds driving inflows and is up over 50% for the year and was last at $3,649.

A regulatory filing on Monday showed that U.S. Securities and Exchange Commission has further delayed its decision on an application by asset manager BlackRock for its spot ethereum exchange-traded fund.

Elsewhere, the number of dollar-pegged stablecoins issued by Tether has crossed $100 billion, the crypto company said on its website on Monday. Tether issues a stablecoin which is designed to maintain a constant value of $1.

01/03/2024

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐬𝐨𝐚𝐫𝐬 𝐩𝐚𝐬𝐭 $𝟔𝟎𝐊 𝐚𝐦𝐢𝐝 𝐄𝐓𝐅 𝐟𝐫𝐞𝐧𝐳𝐲 𝐛𝐮𝐭 𝐦𝐢𝐧𝐢𝐧𝐠 𝐬𝐭𝐨𝐜𝐤𝐬 𝐮𝐧𝐝𝐞𝐫𝐩𝐞𝐫𝐟𝐨𝐫𝐦

Bitcoin soars past $60K amid ETF frenzy but mining stocks underperform

27/02/2024

𝐃𝐉𝐈: 𝐃𝐨𝐰 𝐉𝐨𝐧𝐞𝐬 𝐅𝐮𝐭𝐮𝐫𝐞𝐬 𝐒𝐥𝐢𝐩 𝐀𝐟𝐭𝐞𝐫 𝐁𝐚𝐜𝐤-𝐭𝐨-𝐁𝐚𝐜𝐤 𝐑𝐞𝐜𝐨𝐫𝐝𝐬 𝐋𝐢𝐟𝐭 𝐈𝐧𝐝𝐞𝐱 𝐀𝐛𝐨𝐯𝐞 𝟑𝟗,𝟎𝟎𝟎

Fairly calm week is unfolding as investors are still riding the good moods from last week when Nvidia jolted global markets.

Futures contracts tied to the Dow Jones Industrial Average DJI
ticked lower in pre-trading activity Monday. The index is coming in hot off an all-time high on Friday, logging back-to-back record-setting sessions. The 30-stock index added 62 points on the day to sign off for the week at 39,131. The Dow Jones was up roughly 1.5% in the shortened trading week.

What’s more, the S&P 500 and the Nasdaq Composite each logged a solid 2% gain over the past week thanks to the unstoppable rally in one specific stock. Chip making giant Nvidia NVDA
smashed expectations with a formidable 265% revenue growth. The company’s booming performance lifted investor mood globally.

Traders seem optimistic to try and carry the animal spirits into this week’s fairly quiet market scene. It’s the final stretch of February and not much is on deck for the economy. Besides the regular weekly jobless claims on Thursday, markets won’t be too concerned about new reports.

23/02/2024

𝐀𝐱𝐢𝐞 𝐂𝐨-𝐅𝐨𝐮𝐧𝐝𝐞𝐫’𝐬 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐁𝐫𝐞𝐚𝐜𝐡𝐞𝐝 𝐟𝐨𝐫 $𝟖𝐌, 𝐑𝐨𝐧𝐢𝐧 𝐁𝐫𝐢𝐝𝐠𝐞 𝐔𝐧𝐚𝐟𝐟𝐞𝐜𝐭𝐞𝐝

Accounts of Axie co-founder Jeff “Jihoz” Zirlin compromised, resulting in an $8 million loss, while Ronin's operation remained unaffected.

20/02/2024

𝐒𝐏𝐗: 𝐒&𝐏 𝟓𝟎𝟎 𝐅𝐮𝐭𝐮𝐫𝐞𝐬 𝐃𝐢𝐩 𝐀𝐡𝐞𝐚𝐝 𝐨𝐟 𝐒𝐡𝐨𝐫𝐭𝐞𝐧𝐞𝐝 𝐖𝐞𝐞𝐤, 𝐍𝐯𝐢𝐝𝐢𝐚 𝐄𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐨𝐧 𝐃𝐞𝐜𝐤

Stocks were slow to perk up after the long weekend and Nvidia is about to drop its earnings data on Wednesday after the bell.

S&P 500 futures (SPX) tumbled ahead of Tuesday’s opening as soporific investors were off to a slow start of the shortened week. Following the Presidents Day holiday on Monday, futures contracts tied to the broad-based index clocked in at a moderate loss of about 0.2%.

The benchmark index signed off last week with a Friday loss of 0.5% and its first full-week decline in more than a month. The drop snapped a boastful five-week time span of uninterrupted gains across the three major averages, including the Dow Jones and the Nasdaq Composite.

Investor excitement is bound to crank up this week as chipmaking giant Nvidia NVDA gears up to report quarterly financials. Nvidia has been at the helm of the AI craze and is now the third-largest US company by market cap. It’s sitting on $1.8 trillion after a monster 50% gain this year.