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đź’Ą Burry's Latest Call
Michael Burry is back with a new prediction, Davey Day Trader goes up big on $GME and more
Charla Hojnacki
May 15, 2024
Happy Wednesday Zingernation! Michael Burry called the subprime mortgage crisis in 2008. Then he bought GameStop in 2019 before the big short squeeze. Now he has a new prediction that doesn’t bode well for Tesla’s CEO Elon Musk.
-Aaron Bry and Nic Chahine
Plus, check out how one company is leveraging AI to improve surgical outcomes...
And, what's the "MoneyLine" that we've been writing about all week? It's the simple way to win more trades. Get the strategy HERE.
MARKET SNAPSHOT
Yesterday: Another day where meme stocks dominated the market. And, despite hotter-than-expected PPI numbers, all major indices closed in the green.
On Our Radar: All eyes on CPI. Inflation data is out ahead of the open for the second day in a row. We will also hear from companies like Cisco, Monday.com and more.
Plus: Stop getting trade ideas from anonymous X accounts. Seriously, stop it. Follow Nic Chahine's "MoneyLine" and start winning more. Get the details HERE.
TOP STORY
What Happened: Barstool Sports founder and stock trader Dave Portnoy is back on meme stocks again with an investment in GameStop and AMC as shares rally and see increased interest.
Some Context: Similar to the rally in GameStop and AMC prices as high short interest stocks in 2021, the stocks have returned with a vengeance this month and Portnoy is ready.
Basically: Portnoy shared in a series of videos about his return to meme stocks and his commentary on the return of Roaring Kitty to social media. "I can't miss it," Portnoy said of the return of meme stocks. "I got to be involved." He mentioned that he bought $250,000 each in GameStop and AMC on Monday. “I wish I bought more."
Big Gains: Portnoy shared that in pre-market trading Tuesday he was up close to $700,000 with AMC and GameStop each up over 100% from their Monday closing price.
PRESENTED BY MONOGRAM ORTHOPEDICS
Artificial intelligence isn't reserved only for chatbots and autonomous vehicles; it’s also increasingly important in various other fields, like orthopedics, particularly for knee and hip replacement surgeries.
Of the nearly 800,000 total knee replacement surgeries performed annually in the U.S., 88% are still performed manually – putting patients at risk from potential human errors and potentially longer recovery times.
Monogram Orthopedics Inc. will be using AI (machine learning) and robotics to deliver the next generation of patient care and improve implants to improve fit and capital efficiency.
FIVE ZINGERS
Rainy Parade: As great as the $GME story is, it might not last forever. Here are some factors that could rain on the meme stock parade.
Second Guessing: Sony is reportedly reconsidering its bid for Paramount, as the Japanese entertainment giant worries $26 billion is too much.
It’s In The Game: EA Sports is getting ready to release the new Madden video game. Here’s everything you need to know.
Runner Up: Tech expert Gene Munster says that Google is behind OpenAI, but well ahead of everyone else in the AI race.
Home Run Or Strikeout? Roku is gearing up its live sports offerings, and hoping that its partnership with MLB will be a home run.
ONE FOR THE ROAD
The Beginnings: At age 30, nothing about Jim Simons suggested he would amass a $24.4 billion fortune. He had just been fired from his job as a codebreaker at the Department of Defense.
The Spark: But Simons was restless. His friends and coworkers always felt Simons wanted to have an impact on the world. And one day, when a coworker introduced him to the world of commodities trading—and a lightning quick 10x gain from a bet on sugar prices—Simons was hooked.
The Legacy: Launching in 1982, his fund—Renaissance Technologies—used machine learning to test out relationships between stock prices. For a detailed account of the inside story behind his legendary fund, I encourage you to check out “The Man Who Solved the Markets: How Jim Simons Launched the Quant Revolution” by Gregory Zuckerman.
Why It Matters: Now, we’re not affiliated with Renaissance Technologies. And there may never be another Jim Simons. But what this story proves is that technical indicators and reams of financial information can be used to gain a huge edge in markets. In fact, after two decades studying the markets and fine-tuning my approach, I have my own formula to detect, move on, and finally, to exit profit opportunities.
Don't miss out: Get a sneak peek at Nic Chahine's 83% win-rate secret here.
PRESENTED BY MONOGRAM ORTHOPEDICS
Artificial intelligence isn't reserved only for chatbots and autonomous vehicles; it’s also increasingly important in various other fields, like orthopedics, particularly for knee and hip replacement surgeries.
Of the nearly 800,000 total knee replacement surgeries performed annually in the U.S., 88% are still performed manually – putting patients at risk from potential human errors and potentially longer recovery times.
Monogram Orthopedics Inc. will be using AI (machine learning) and robotics to deliver the next generation of patient care and improve implants to improve fit and capital efficiency.