Will The Market See New Highs?

Analysis + Setups

Author

Simplify Wall Street
May 09, 2024

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Mid Week Update ✍️ 

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Missed out on Ring and Nest? Don’t let RYSE slip away!

Ring 一 Acquired by Amazon for $1.2B

Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to dominate this burgeoning industry.

Table of Content

⭕️ Free Tip

Gains

05-08-24 Gains

Context

Elon Lied. He’s not Focused.

Long story short..

  • Last week, during their earnings report, Elon said he was very focused on Tesla. Read more. This was false, or at least seems very untrue now that he has started to raise funding for another company.

  • Tesla investors were unhappy as many questioned his plans with Tesla, X, and now this new AI company.

Other:

Wire Fraud made in the Tesla factory? (Read More)

Streaming Services

Disney and Warner bundle streaming services to rival Netflix

The media giants are under pressure to attract more subscribers to their streaming services.

www.bbc.com/news/articles/c51nz9d2w3ro

$NFLX is still in a good position since Netflix users have shown loyalty. Even with price increases and strict sign-in guidelines, growth has been consistent. I will revisit this company in our premium section. 

Disney, Warner, and other streaming services need to join forces to have the impact of Netflix. However, with all the deals, how do they maintain profitability with the profit splits split between so many companies?

Other good reads…

TikTok sued the U.S. government to block a ban. Here’s what happens now

TikTok on Tuesday sued the U.S. government over a law that would force Chinese parent ByteDance to sell the app or face a national ban.

www.cnbc.com/2024/05/08/tiktok-sued-the-us-government-to-block-a-ban-heres-what-happens-now.html

Biden says U.S. won’t supply weapons for Israel to attack Rafah, in warning to ally

President Joe Biden said Wednesday that he would not supply offensive weapons that Israel could use to launch an all-out assault on Rafah over concern for the well-being of the more than 1 million civilians sheltering there.

www.cnbc.com/2024/05/08/biden-says-us-wont-supply-weapons-for-israel-to-attack-rafah-in-warning-to-ally.html

Free tip before we go into the premium info.

  • If you overtrade, stop trading. Fix the bad habit first, then press forward with a different or similar strategy.

Will the market see all-time highs? Hmm. It is very likely if 4800 on $SPX is tested and held. Otherwise, it’s a coin flip.

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Will the market see another all-time high in 2024?

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