The markets taketh and the markets taketh more.

Author

Swaggy Stocks
June 05, 2022

Swaggy’s Top Stonks. We compile and analyze data from multiple sources bringing you the top trending tickers from around the internet. If you haven’t subscribed already, please do so below.

Swaggy's Top Stonks

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Today's Letter

  • Market Update

  • The Hiring Freeze

  • Luna 2.0 - What happened?

  • Trending Cryptos

  • Top Meme Stocks

183 Pounds of Copper for Just ONE EV

To build just one electric vehicle (EV) engine requires 183 pounds of copper. Compare that to just 18 pounds required in a gas-powered car. That's 10 TIMES more copper. EVs are expected to increase 1,400% by 2030. More sources of copper are desperately needed to keep up with demand.

*This is promotional content.

Market Update

Markets were shooketh for another week with the S&P 500 ending slightly down, but roughly flat. After a bull run that lasted a week to finish the month of May, there was no follow through into the first week of June. The market continues to tumble without many positive catalysts in sight.

Self-imposed food and energy crisis, and a decline in earnings hasn't helped settle the volatility we've been seeing in markets. Investors that joined in the great bull run of 2020 has since lost all their gains, many growth-stock investors will be left with battle scars and PTSD from what we've experienced over the last 6 months. All that and the hiring freeze, which we'll get into a bit further down have Elon Musk cutting 10% of jobs at Tesla due to his "bad feeling" about the economy.

Are the markets FKd? Well, the current state might have you saying yes, but what about moving forward? This is not something anyone can predict, but the market loves pain so lets see where this goes.

The Hiring Freeze

From the Web3 & crypto collapse, to the startup graveyard, layoffs have also crept into most major tech companies. This tweet from Zerohedge had a chart that listed all the recent company layoff announcements. It's quite remarkable.

Keep in mind that layoffs due to a slow in growth are generally a recurring event when growth is no longer accelerating at the levels they used to be. This isn't always a precursor for recession and can be part of a healthy cycle.

Another sector that has been hit hard with layoffs is the retail sector and has recently shed the most jobs since back in April 2020. For some perspective, here's how it looked prior to the pandemic and through it.

Luna 2.0 - What happened?

F***ing Luna. Remember the token that lost over 99% of it's value not even a month ago? Here's a look into Terra Classic (LUNC), formerly LUNA, and the infamous drop in share price they recently saw to refresh your memory.

The creators of the token were dedicated to right their wrongs and to re-release a newer version of the LUNA token/product. What happened next will shock you! The coin, which launched around $20 saw an 80% drop in the first day.

Web3, crypto currencies, and NFTs, the things that were supposed to become decentralized, have just become one big marketing gimmick. Web3 always had potential with the idea of returning a lot of value back into the pockets of the little guy, however, until things change we may just see Web3 continue to be rug pull after rug pull.

Personally I'm staying away from many alt-coins until a change in sentiment occurs.

Trending Cryptos

The most popular crypto currencies making headlines are the usual suspects. Bitcoin and Ethereum at the top with other popular cry making the top 10. Those include: Chainlink (LINK), Dogecoin (DOGE), and Solana (SOL).

GRIT is going big or going home on the 20% of our “high-risk” portfolio where we know these investments could go to zero…or 10x! Subscribe to our new CRYPTO NEWSLETTER to follow us along this journey and see what we’re buying, why we’re buying it, what we’re paying, and what else is on our radar!

Top Meme Stocks

Just when we thought Gamestop (GME) and AMC were making a comeback, they ended up losing steam. GME and AMC were up 40% and 20%, respectively, the week prior, but this week they finished completely flat.

Other tickers making it to the top of WallStreetBets are:

  • Amazon (AMZN): Shares of Amazon are set to split next week (20 to 1).

  • Apple (AAPL): WWDC 2022 event starting tomorrow among supply chain news.

  • Microsoft (MSFT): Mediocre earnings and cut guidance.

  • Salesforce (CRM): Beat on earnings last week.

  • and Lululemon (LULU): Solid performance on earnings last week.

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