OVERVIEW
The Weekend Rip: December 29, 2024

It was a relatively quiet week for the major averages, but under the surface, those traders hanging around through year-end are primarily looking for opportunities in small-cap stocks and crypto. 🕵️ 

Let's recap and prep you for another shortened week. 📝

What Happened?

💪 On Monday, mega-cap strength helped buoy the broader stock market indexes. Rumble roared after a Tether investment, The Daily Rip Live’s hosts outlined their trades for the end of 2024, and the 10 largest stocks hit a new record as a percentage of the S&P 500’s total market cap.

💚 On Tuesday, stocks were firmly in the green during a shortened Christmas Eve session. Santa Claus was given credit for the rally arriving, American Airlines almost grounded holiday travelers, and we unwrapped another wild year on Stocktwits.

🎄 On Wednesday, U.S. markets were closed for the Christmas holiday.

😐️ On Thursday, stocks had a holiday hangover, with small-cap stocks primarily seeing trading activity as most institutional investors take off for the year. Apple approached a $4 trillion market cap following analyst optimism, the K-shaped economic recovery continued, and we rolled out the "perfect holiday watch party movie” on the Stocktwits YouTube channel.

🎅 On Friday, stocks had their worst day in weeks but managed to close the shortened holiday week marginally in the green. Crude oil prices are drawing eyes back to the energy sector, and Trump is looking to stop the clock on TikTok’s ban.

😐️ This week's Stocktwits Top 25 showed mixed performance vs. the indexes.

Here are the closing prices: 

Bullets From The Weekend 📰

🏬 Big Lots will keep hundreds of stores open following a last-minute deal. The discount chain filed for bankruptcy in September; however, it agreed to a sale transaction with an investment firm this past Friday. Variety Wholesalers, which owns more than 400 retail stores, will acquire between 200 and 400 Big Lots stores and up to two distribution centers. While the majority of its 963 remaining locations will close following a failed acquisition by PE firm Nexus Capital Management, this latest deal will keep the brand alive and save hundreds of jobs. CNN Business has more.

😬 Google CEO Sundar Pichai tells employees, “the stakes are high” in 2025. Google executives held a 2025 strategy meeting, setting the stage for a year of increased competition, regulatory hurdles, and advancements in AI. Pichai said Google will introduce a number of AI features during the first half of 2025 but also warned it would be a challenging year as “we are facing scrutiny across the world.” More from CNBC.

🧾 Canada-based accounting startup leaves customers high and dry. Bench, which offered software-as-a-service for small and medium-sized businesses, abruptly shut down this week via a notice on its Website. The company’s entire website is currently offline except for that notice, leaving its more than 35,000 U.S. customers without access to their bookkeeping and tax reporting documents right before year-end and the beginning of tax season. Bench’s notice says its customers should file a six-month extension with the IRS to “find the right bookkeeping partner.” Irony at its finest. TechCrunch has more.

PRESENTED BY STOCKTWITS
The Weekend Rip With Ben & Emil 🎁 

In the final episode of 2024, Ben and Emil wrap up another wild year on Stocktwits, covering the biggest retail investor and trader trends, the market’s top performers, and predictions for 2025 that you don’t want to miss! 🤩