Today we’re diving into Deep F*cking Value’s Massive F*cking Gamble, breaking down Spotify’s price hike & a whole lot more.

Enjoy the next 4 minutes and 19 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “closed mixed on Monday to kick off a volatile first trading day of June.” (Yahoo! Finance)

+ The 10-year Treasury yield “fell on Monday as investors assessed weak U.S. manufacturing data and looked toward a key jobs report slated for the end of the week." (CNBC)

+ Oil “tumbled by $3 a barrel on Monday to their lowest in nearly four months, as investors worried that a complicated OPEC+ output decision could lead to higher supplies later in the year even though demand growth has been slow.” (Reuters)

+ Bitcoin “climbed on Monday but remained largely rangebound despite optimism over potential interest rate cuts by major central banks this week and weakness in the dollar.” (Investing.com)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) GameStop +21.0% 2) Nvidia +4.9% 3) Visa -0.7%

The market moves you need to know about…

+ Nvidia jumped 4.9% after announcing its next-(next)-gen Rubin AI chips on Sunday… before it even shipped its next-gen Blackwell chips.

– Shares of Hertz plummeted 5.2% on news that its CFO and COO were being “stepped down.” And its C-Suite is basically that grim reaper knocking on door meme. Just 3 months ago its CEO stepped down after the company admitted its defeat in its EV

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It really is Keith Gill aka Roaring Kitty aka Deep F*cking Value’s world, and we’re all just living in it.

After the latest meme stock mania appeared to be over, the other KG went all “anything is possible” Sunday night, showing he built a huge position in GameStop (+21.0%) on Reddit.

More specifically, he’s sitting on 5M GME shares and 120k call options expiring June 21.

For those of you keeping score at home, that’s ~$100M in shares alone. According to Bloomberg, that made him the fourth largest GME shareholder.

The news set off a buying spree… obviously.

Shares closed up 21% yesterday, which means Roaring Kitty had netted $79M… on paper.

Oh, so he liquidated and bought an island next to Richard Branson, right? Right?

Of course not. That wouldn’t make for a very interesting plot line to ‘Dumb Money 2’.

Last night, he shared another screenshot of his brokerage account, which shows he didn’t unload any of his shares or options…

Just one problem…

E*Trade is trying to get its Robinhood on…

Rumor has it that the Morgan Stanley-owned brokerage is considering banning Gill from the platform for “market manipulation”… which, ok, fair.

The masters of the universe didn’t love that DFV loaded up on call options before he posted his first tweet, sparking the latest memestonk saga last month. Well, that and some of their primer brokerage clients are getting bent over by GME’s latest mooning.

+ Spotify (+5.6%) is jacking up prices (again). But just remember, it could be worse, you could be overpaying for Apple Music… or worse, Pandora.

This is the second price hike in less than a year.

In an official statement, SPOT said the changes will allow it to “continue to invest in and innovate on our product features”… because that sounds a lot better than “we overpaid literally everyone with a pulse and a podcast.”

+ In ‘Succession’ terms, we’d be like halfway through the 4th season on the Paramount Global (+7.4%) deal… which I guess makes David Ellison Lukas Matsson…

Paramount has reportedly agreed to terms with Skydance to sell itself (or, merge, depending on who you ask) for ~$8B. That’s up significantly from Skydance’s original $5B offer.

And we can all agree that Sony and Apollo will come over the top with an 11th-hour bid, right?

+ Play stupid games, win stupid prizes…

Remember Andrew Left? He’s the founder of short-seller Citron Research, which was famously short GameStop back in 2021. Very publicly short GME, to be exact. Obviously, he got massacred by the markets and the Reddit regards. So much so that he vowed not to drop any more short reports.

So that was a f*cking lie. Turns out he shorted GameStop in May… and got his d*ck kicked in. But, some guys just don’t know how to take an L. And Andrew is one of them. He built another short position in the stock in the past few days…

+ “We, uh, we fixed the glitch. So it'll just work itself out naturally.” - the NYSE

Berkshire, Barrick Gold, Chipotle, and a handful of other stocks fell by ~99.97% in early trading. The New York Stock Exchange halted trading and worked to fix a glitch for most of the morning.

The Exchange reported it was business as usual just before noon. So, for like 2 hours today you were technically more wealthy than Warren Buffett…

+ You’ll Never Guess Which Generation Has the Lowest Mortgage Rate (Read)

+ The 7 Hottest Home Renovations Everyone’s Dying To Do This Summer (Read)

+ BTW, if you want more real estate news & insights, check out The Pocket List. It’s a new newsletter project I’ve been working on. It’ll keep you up to date on the industry with one goal: helping you make more money. Check out last week’s newsletter and subscribe for free with one click (Read & subscribe)

⏪ Yesterday, we were keeping an eye on a bunch of services and manufacturing data…

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

+ Toyota reports this AM

+ CrowdStrike and Stitch Fix report after the bell

+ Snowflake hosts its Investor Day

+ JOLTS Jobs Openings data drops at 10 AM EST

Yesterday, I asked, “Dr. Pepper or nah?”

70.6% of you think Dr. Pepper is incredible. I am floored.

Here’s today’s question…

Before you go…

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.