Happy Friday Zingernation! What a week it was. We saw a lot of crazy price action over the past few days from Spirit’s 40% drop and subsequent rebound, Phunware’s 400% move in a single day, and more. But when all the dust settled as the market closed this afternoon, one average hit an all-time high. That’s right the S&P 500 moved past the record it set in January 2022.

It kinda felt like when I was in school and ended up guessing half the questions on an exam but somehow still got an A. Not sure how it happened or how we got here, but I’ll take it. Cheers to the weekend all 🍻

This Week’s Price Action:

$SPY: +.96%
$QQQ: +2.61%
$DIA: +.28%

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Why Super Micro Computer’s Stock Closed Up More Than 30% Today

Briefly: Super Micro Computer lived up to the Super part of its name today. The company bumped up its guidance for the second quarter by nearly $1 billion.

Basically: SMCI’s previous guidance called for second-quarter revenue to come in around $2.7 to $2.9 billion. Today, the company revised that guidance to a little more than $3.6 billion.

The Price Action: The stock closed at around $423 a share, more than $100 higher than its previous close of around $311 a share.

What Next: Read more here.

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ONE TRADE IDEA FOR NEXT WEEK

What's In The Cards For Levi Strauss This Earnings Season?

Briefly: Dana Telsey, founder of the Telsey Advisory Group, reiterated her outperform rating on Levi’s, with an unchanged price target of $16. Telsey is expecting Levi Strauss’s EPS to grow from $.34 to $.44 a share.

So Basically: Telsey pointed to growth in markets like Asia as a potential growth driver for the company. Levi Strauss will report earnings next week on January 25.

So What? Retail stocks have been hot, with clothing brands like Abercrombie and Fitch and American Eagle trading at 52-week highs. Levi’s could be the next one in the bunch to break out.

What Next: To read the full earnings preview, click here.

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