OVERVIEW
The Weekend Rip: November 17, 2024

It was a rough week for the stock market, with inflation fears and lackluster earnings weighing on its leaders. 📉

Let's recap and prep you for the week ahead. 📝

What Happened?

📈 On Monday, the S&P 500 closed above 6,000 for the first time ever. We discussed a technical indicator showing a lot of FOMO in the market, how crazy the crypto moves were getting, and more.

◀️ On Tuesday, stocks had their first down day, with the Russell 2000 leading lower. Spirit Airlines plunged on bankruptcy news, Shell won a landmark climate case, and Stocktwits joined eToro and BlackRock at the Nasdaq to talk retail trends for 2025.

🐻 On Wednesday, bears battled to keep stocks subdued. Consumer prices inched higher as expected, Super Micro slumped after delaying its filings again, and we began rolling out the red carpet for “Nvidia Day.”

😐️ On Thursday, the bulls still couldn’t turn it around. Technical analysts noted a cautious semiconductor sector setup into Nvidia earnings, Trump’s political appointments tipped certain sectors, and SolarEdge set up for a possible bounce.

📉 On Friday, stocks fell for the fourth straight day. Late buyers were left stranded on an “island,” we began our Nvidia price prediction contest, and the Stocktwits YouTube channel premiered “The Weekend Rip With Ben & Emil.”

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

📽️ P.S. The Daily Rip is going live in video format for the first time tomorrow at 8:30 am ET. Scroll down to the section below for more info, and we’ll see you there!

Here are the closing prices: 

PRESENTED BY STOCKTWITS
The Stocktwits “Daily Rip” Is Going Live 👀 

Your favorite daily market newsletter is going live starting tomorrow! 👏 

Daily Rip Live will broadcast Monday through Friday, starting before markets open at 8:30 AM ET. Hosted by Wolf Financial's Shay Boloor (@StockSavvyShay) and Jordon Lee (@AceTheKidTA), the show will deliver real-time market updates, actionable trading tips, and deep dives into what's happening on Stocktwits.

Tune in on YouTube and X or join the live convo on the Stocktwits $SPY stream. 👍️ 

Bullets From The Weekend 📰

🦄 Pony AI preps for an IPO at a lackluster price. The Chinese robotaxi operator Pony AI will offer 15 million shares between $11 and $13, with a middle-of-the-range valuation of $4.6 billion. That’s down from its 2022 and 2023 fundraising at an $8.5 billion valuation. The ZIRP-era company previously raised around $1.2 billion in private funding but still has net losses and just $100 million in revenue for the first half of 2024. Axios has more.

🏡 Parents provide support amid the tight housing market. As housing costs soar, roughly 26% of younger people who recently bought homes say they used family cash for down payments, up from 23% last year. Near-record share of men and women ages 25-34 lived with their parents last year, as record high prices and high interest rates shut people out of homeownership. More from Axios.

🥊 Netflix’s live events strategy faces hiccup after Tyson vs. Paul fight. Over 120 million people on Netflix tuned in to watch Friday's Mike Tyson vs. Jake Paul boxing match; however, many were disappointed with the quality of the stream. During the event, Downdetector received over 1 million reports of Netflix issues in 50 countries, which saw concurrent viewers peak at 65 million. The company is making a major bet on live events, but the technical issues show it still has work to do before its infrastructure is ready for prime time. TechCrunch has more.