Today we’re breaking down Roaring Kitty’s latest move, getting into the FTC’s latest crackdown & a whole lot more.

Enjoy the next 4 minutes and 21 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “were little changed on Thursday, hovering near record highs, with investors awaiting an update on the labor market amid growing hopes for interest rate cuts.” (Yahoo! Finance)

+ The 10-year Treasury yield was “little changed Thursday as investors considered the latest economic data and weighed the outlook for interest rate cuts." (CNBC)

+ Oil rose “on Thursday after the European Central Bank opted to cut interest rates, spurring hopes that the Fed will follow suit, and OPEC+ ministers reassured investors the latest oil output agreement could change depending on the market.” (Reuters)

+ Bitcoin “rallied to $71,700 earlier during the day following the European Central Bank (ECB)'s rate cut, but quickly tumbled nearly dipping below $70,000.” (Coindesk)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia -1.1% 2) GameStop +47.4% 3) Visa +0.9%

The market moves you need to know about…

+ Lyft rose 1.0% after indicating during its first-ever investor day that it expects a 15% compound annual growth rate for the next 3 years.

– It’s called taking profit… look it up. Shares of Cava fell 7.6% after one of its biggest institutional investors filed paperwork to sell a sh*t ton of shares.

+ Shares of Instacart were up 9.1% yesterday. And not because it’s a particularly good company (or product)… but because it just unleashed another $500M in share repurchases.

Roaring Kitty is back on his bullsh*t… and so is GameStop (+47.4%).

The retail trading hero who’s on the brink of becoming a billionaire (seriously…) didn’t even need to post on social media to send GME nearly 50% higher…

Keith simply scheduled a YouTube livestream for noon today (Friday). Here’s the thumbnail if you’re looking for clues (since he’s basically the Taylor Swift for degens at this point)…

This is a BFD, considering Deep F*cking Value hasn’t hosted a live stream in more than 3 years. You might remember that his hours-long YT streams were pretty damn popular back in 2021.

But there is one major difference this time around: KG provided a lengthy disclaimer in the show notes (think: “This is not financial advice”). Someone lawyered up…

Didn’t hear no bell…

It had looked like the latest GME rally was short-lived after Deep F*cking Value’s social posts stopped having the intended consequence.

But, the latest reaction tells us that after Keith exhausts one platform, he can simply move on to the next one to rally the troops and pump the stock. Ok, maybe the State of Massachusetts was onto something with its probe…

+ The US government: “Ok, guys. How can we take everyone’s uneasy feelings about AI and turn them into full-fledged terror?”

The FTC and DOJ: “Uhh, we could just kinda investigate the entire industry to send a message that it’s entirely too powerful?”

The alphabet agencies plan to investigate the “conduct” of the major AI players in the US. The shortlist includes Nvidia, OpenAI, and Microsoft.

It’s not entirely clear what the hell they’re probing for. But it likely has something to do with the companies involved trying to win the AI arms race at all costs.

+ Today I learned that a Bitstamp isn’t a USPS NFT project…

Robinhood (+6.4%) announced it’s buying the European crypto exchange Bitstamp for $200M in straight cash, homie. HOOD’s largest acquisition ever opens up the European and Asian markets and doubles down on what has been one of its biggest growth drivers (spoiler: crypto trading).

*the SEC has entered the chat* The deal will certainly attract the attention of regulators who hate sh*tcoins more than Charlie Munger. Oh, and friendly reminder: last month, RH received a Wells notice from the SEC indicating that an enforcement action could be on its way…

+ *takes rip of Vuse e-cig* JUUL? I haven’t heard that name in years…

Yesterday, the FDA said it reversed its ban on JUUL e-cigs. Why the sudden change of heart? It has some court decisions and new data from the company to consider.

To be fair, even though the vapes got the death penalty in 2022, they remained on shelves during the appeals process.

Despite its financial woes stemming from the “ban,” JUUL remains the #2 e-cig in the US. Not that it really matters, since Zyn exists now.

+ Life360 just had a pretty underwhelming public debut in the US yesterday. The maker of Tile opened below its offering price… and struggled to gain any traction throughout its first day of trading. Perhaps investors realized Apple’s AirTags are better in every conceivable way?

+ Colleges are touting AI degree programs. Here’s how to decide if it’s worth the cost (Read)

+ Nvidia’s 10-for-1 stock split takes effect soon. What it means for your investment (Read)

⏪ Yesterday, we were keeping an eye on the European Central Bank’s rate decision…

+ As expected, the European Central Bank cut interest rates for the first time since 2019… and nothing pisses me off more than losing to Europe at anything.

⏩ Here's what we’re keeping an eye on today...

+ Remain calm, but a company called Waystar is going public (spoiler: it is not a right-leaning media org)

+ The only thing that really matters is the May jobs report Roaring Kitty livestream

Yesterday, I asked, “Who do you like in the NBA Finals?”

Celts had 55.6% of the vote. Pretty shocking considering the heavy Stoolie/East Coast lean…

Here’s today’s question…

The internet turns on people pretty quickly…

Before you go…

Berkshire lol…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.