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Happy Monday, Zingernation! Sure the Fed pulling off a soft landing would be pretty impressive. But what about soft landing a rocket onto the ocean like SpaceX did earlier this month? Lars Blackmore, an exec at SpaceX, revealed that the historic feat was one big gamble – but it paid off.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: -.33%
$QQQ: -1.14%
$DIA: +.67%

Plus, meet the high-tech company that’s operating at the intersection of quantum computing and the blockchain.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Bitcoin Slides Below $60K, Here's Why It Could Drop Further: 10x Research

What Happened: 10x Research on Monday raised concerns about Bitcoin‘s price trajectory, suggesting that the world’s leading cryptocurrency could be on the verge of a significant downturn.

Basically: In the report, lead analyst Markus Thielen pointed to a possible double top formation in Bitcoin’s price chart, a pattern that often precedes a steep decline.

So: The report identifies $61,500 as a critical level to watch, warning that if Bitcoin trades below this point, prices could potentially drop to the low $50,000s or even further. Here are the other factors that 10x Research says investors need to be aware of.

PRESENTED BY QRL

How QRL Is Securing The Blockchain Of The Future

The cryptocurrency industry is bracing for the rise of quantum computing, powerful next-gen computers that put blockchains at risk. Fortunately, the Quantum Resistant Ledger (QRL) harnesses XMSS encryption instead of the standard and inadequate elliptical curve cryptography (ECC) for digital signatures on the blockchain, the former of which is mathematically provably secure. QRL’s XMSS algorithm makes blockchains ”future proof,” ensuring their security in a post-quantum environment. 

QRL is set to release its Zond project, a proof-of-stake blockchain, in the coming months. In addition to being quantum secure, this platform will enable Ethereum Virtual Machine contracts, making agreements written on the Ethereum blockchain naturally portable to the QRL. Join QRL’s growing community and be part of the next generation of blockchain technology.

FIVE MOVERS

Eli Lilly’s stock closed up slightly on Monday, trading up more than $5 a share on some positive trial data from its weight-loss drug Zepbound.

Carnival Cruise Line moved higher in today’s session, closing higher as investors appear to take bullish positions ahead of earnings.

Broadcom’s stock got crushed Monday, closing down nearly 4% amid overall weakness in the semiconductor space.

Rivian shares closed higher today by around 6% after the company announced new measures to reduce costs.

Affirm’s stock shot higher Monday, finishing the day up more than 10% following some bullish coverage from an analyst at Goldman Sachs.

ONE TRADE IDEA FOR TOMORROW

7 Reasons Why Nvidia Stock Will Hit $200: 'AI Begins And Ends With Nvidia'

Briefly: Constellation Research founder and principal analyst Ray Wang expects Nvidia Corp stock to hit $200 per share in the next 12 months.

The Reasons: The analyst provided seven reasons behind the call Monday on CNBC’s “Squawk Box.”

Visionary CEO: Wang believes Nvidia CEO Jensen Huang is a visionary poised to set the chipmaker up for continued success. He suggested that every great Silicon Valley story starts with a great leader.

High Barrier To Entry: It takes a long time to get a chip to market and there are very few competitors who are currently able to offer something in the same realm as Nvidia. Wang believes legitimate competition is going to remain scarce. Here are the other five reasons the analyst expects Nvidia’s stock to double in the next year.

PRESENTED BY DIREXION

Level Up Your Trading with Leveraged ETFs

Level Up Your Trading with Leveraged ETFs is a virtual bootcamp led by analysts from Direxion. Join this live bootcamp to deepen your understanding of leveraged and inverse ETFs and learn how to successfully trade them. With expert-led sessions and live case studies, this bootcamp offers an immersive learning experience you don’t want to miss out on.

Date: Tuesday, June 25, 2024
Time: 11:00 AM - 12:30 PM EST

Leveraged ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and who actively manage their investments.

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