TOPLEY’S TOP 10 June 20 2024

1. NVDA Stats….Market Cap Passing Germany, France and UK

Jim Reid Deutsche Bank
Some other remarkable stats:

  • Nvidia went from $2tn market cap to $3tn in 30 trading days from April 24th.
  • Nvidia has added a trillion dollars of market cap since May 20th. At 23 trading days this is the quickest a company has ever added a trillion dollars.
  • For context, Berkshire Hathaway, one of the most respected companies in the world, has taken around 135 years since its origins in the 1880 to get from zero to around $900bn today.
  • Nvidia, Apple and Microsoft are now worth a combined $9.95tn and look set to cross $10tn for the first time any day.
  • The last time the entire S&P 500 had a market cap of $10tn was in September 2010.
  • At the lows in 2009, the entire market cap of the S&P 500 was $6.11tn, less than double Nvidia today.
  • As it stands, Nvidia is on track to be the top-performing member of the S&P 500 for a second year running. In 2023, it was up +239%, ahead of Meta which had a +194% gain. In 2024 so far, Nvidia is up another +174%, far outpacing Constellation Energy in second place, which is “only” up 89%.
  • Exactly a decade ago the entire listed UK stock market was 400 times larger than Nvidia. In the last week Nvidia overtook it.

2. Technical Record? New Highs in Nasdaq with More Stocks Making 52-Week Lows

3. Only 1% of Small Cap Stocks at 52-Week Highs

4. Mortgage Rates Drop Below 7%

5. Robinhood 24 Hour Market….$20B in Overnight Trading

Found at Irrelevant Investor Blog

6. HOOD Stock Chart $8 December 2023…to $22

7. Gen Z Comfortable with “substantially more financial risk”

Barrons By Paul Andrews  
However a recent survey conducted by CFA Institute found a very different mindset among Gen Z investors. Those attitudes were forged in the fire of the Covid lockdowns from 2020 to 2022. Today they are shooting through our financial system, creating pressures that could cause problems down the road.

Our survey found that Gen Z is comfortable taking substantially more financial risk than previous generations were. In fact, they believe it’s necessary, with fully half of them saying they were comfortable taking significant financial risks to achieve their wealth goals. They told us they thought taking those risks was necessary because they believe the economic conditions they face were more challenging than any time in history.

That doesn’t strike my boomer ear as historically correct, but the reality almost doesn’t matter. It’s their perception, and it’s shaping their behavior.

Gen Z also has a surprising degree of confidence in its financial knowledge. Almost half said they knew more about investments than their parents, and about a third said they were very or extremely confident in their ability to make financial decisions.

But at the time of the survey, Gen Z’s No. 1 investment product was crypto. You’d think perhaps the remarkable risk inherent in that asset class, combined with the significant valuation beating it took, would have dented the Gen Z financial mindset. But with crypto’s remarkable rebound, apparently little has changed.

8. India and Mexico Elections

Post Elections….India (INDA) makes new highs vs. Mexico (EWW) -17%….EWW holding 2023 lows right now.

9. China to Regulate Lithium Battery Industry

China to regulate lithium-ion battery industry amid fast expansion
By Reuters

HONG KONG/BEIJING, June 19 (Reuters) – China’s Ministry of Industry and Information Technology on Wednesday issued new guidelines for its lithium-ion battery industry, aiming to transform, upgrade and promote high-quality development amid rapid expansion in the sector.The guidelines, following a proposal in May, will help firms scale back manufacturing projects that only expand production capacity, while enhancing technology innovation and product quality and trimming output costs, the ministry said.
Advertisement · Scroll to continue
Projects built on farmland and ecological zones would be required to be shut down, or strictly reined in and gradually removed.
Rapid expansion of production capacity along the lithium battery supply chain has led to a plunge in prices for products, including battery and raw materials, eroding companies’ profits in the world’s biggest market.
Industry planning and launch of new projects should be in line with national development of resources, ecological protection and energy saving management, the ministry said.
Advertisement · Scroll to continue
Reporting by Farah Master, Ella Cao and Siyi Liu; Editing by Christopher Cushing and Bernadette Baum

Lithium ETF (LIT) close to breaking new lows.

10. Ten Principles of Mental Immune System Care