Ok. Take a breather. We are currently in uncharted waters — the other day I talked about IONQ, a “quantum computing” firm that is a likely fraud. We also have the Russell 2000, which continues to rally as a result of Trump becoming president. And look at yesterday’s top gainers — I have circled in red the ones that are big steaming piles of New York City certified Trash (TM).
To recap, HIMS is a mail order company that makes compounded GLPs, Archer is an aviation company that promises drone-powered single manned aircraft (imagine Westworld). It also has no revenue and loses +$300mn per year. Joby Aviation is of the same ilk. Rivian is an EV truck maker that loses about $5bn per year. Rumble is a conservative social media YouTube competitor that loses about $140mn per year. Do you get my point? I have made a very scientific meme below to explain what is happening:
Are you with me? I mean — you can throw a dart at any stock that 1) loses money 2) Has some kind of AI hype around it and you’ll probably make money!
Also — Trump tweeted he’d impose tariffs on China (duh) but also Mexico and Canada. Markets reacted for a few minutes then forgot about it. Is this the “new economy” in which we live now?
No position, no opinion. Watching with bewildered interest. If I don’t understand what’s going on (does anyone?) I simply sit back and grab the popcorn. That’s what I feel like right now.
