TOPLEY’S TOP 10 March 06, 2025

1. Record Retail Selling on Open Tuesday

Retail imbalance. “In the first hour of trading, the so-called retail investors yanked $1.2 billion out of the US equity market — the largest pullback during that time period since JPMorgan Chase & Co.’s data begin a decade ago … The pullback from single stocks reached $1.1 billion and was broadly distributed across sectors.”

Bloomberg

2. XLK Tech ETF Below 200-Day

StockCharts

3. XLK Tech ETF Longer-Term Chart…Trading Above 50-Week Moving Average Since March 2023

StockCharts

4. Google Searches Grew 20% Since ChatGPT Debut in 2022

Google-ing it still reigns supreme. OpenAI’s ChatGPT may pose an ongoing threat to Google’s business, but the numbers don’t indicate that just yet. On Monday, Google said it sees more than 5 trillion search queries a year, and basic math from Barclays analysts suggests it may have grown over 20% since ChatGPT’s debut in 2022. Although, the arrival of AI agents is a different story.

Business Insider (Chart via StockCharts)

5. 27% of Cannabis Businesses are Profitable vs. 42% in 2022

Marijuana-industry research firm Whitney Economics said in a survey released last year that roughly 27% of cannabis businesses are profitable, down from 42% in 2022. Nearly a third are unprofitable, with the rest breaking even. Whitney estimates next year’s debt maturity at roughly $6 billion, based on both public and private multistate operators. Equity investors have noticed the glut. Cannabis investments by private-equity and venture-capital firms are at their lowest levels in years in both dollar values and deal counts. Last year, U.S. private-equity deals in the sector totaled $260 million, compared with $1.3 billion for all of 2018, deal tracker PitchBook said. Venture-capital deals were $410 million, compared with roughly $3.06 billion in 2019.