Pre-market US Stocks | GME leads the surge of Meme stocks! Market focuses on "Roaring Kitty" live stream tonight, US non-farm payrolls data

LB Select
2024.06.07 10:22
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GameStop (GME) rose by 38% in pre-market trading, but the post-earnings increase narrowed to around 24%; Faraday Future Intelligent Electric rose by 30% at one point, and is currently up by 19%; AMC ENT surged by over 15% at one point, and is now up by 5%; Crown ElectroKinetics (CRKN) rose by 26% at one point, and is currently up by 10%

U.S. Stock News

  1. During the U.S. trading session today (evening in Hong Kong time), retail investor "Roaring Kitty" plans to host a live stream on YouTube under Google.

  2. GameStop reported a net sales of USD 882 million in the first quarter, estimated at USD 995.5 million. The net loss in the first quarter was USD 32.3 million, compared to a net loss of USD 50.5 million in the same period last year.

  3. Jia Yueting revealed on Weibo that FF is about to restart FF 91 SOD2 (SOD Phase 2) deliveries, delivering to the first individual investor users in the secondary market. Jia Yueting stated that before completing strategic investor financing, and as long as we can raise the necessary component funds, we will strive to deliver a new car every month.

  4. Baidu Maps V20 launched the world's first real car-level navigation and is now available on all Tesla models equipped with AMD chips.

  5. TSMC's sales in May reached NT$229.62 billion, a 30% year-on-year increase. Accumulated sales in 2024 reached NT$1.06 trillion. Previously, Morgan Stanley raised TSMC's target price, stating that customer recognition may lead to price increases for products.

  6. Citi stated that as the first-quarter earnings season for Chinese internet companies ended, most companies performed better than expected. Even after the recent stock market rally, the industry's valuation remains attractive. There are signs that the industry has taken the lead in using AI technology to optimize operational efficiency.

Looking ahead to the second half of the year, optimistic about core holdings such as Tencent, growth potential of Pinduoduo and Manbang, benefiting from service expenditure transformation of Ctrip and Meituan, as well as defensive diversification strategies provided by NetEase and Tencent Music.

Pre-market Movement

In the U.S. pre-market, the three major stock index futures are mixed, with the fear index rising.

Bitcoin is currently trading at $71,359, up slightly in the past 24 hours; Ethereum is currently trading at $3,812, down nearly 1% in the past 24 hours.

Meme stocks, cryptocurrency-related stocks surged pre-market, while technology stocks and Chinese concept stocks showed mixed movements.

GameStop (GME) surged by 38% at one point, now narrowing to around 24%; Faraday Future Intelligent Electric (FF) surged by 30% at one point, now up by 19%; AMC Entertainment (AMC) surged by over 15% at one point, now up by 5%; Crown ElectroKinetics (CRKN) surged by 26% at one point, now up by 10%.

Microstrategy (MSTR) rose by over 2%, Coinbase (COIN) rose by over 1%, Marathon Digital (MARA) rose by 1%.

AMD, NVIDIA, Meta, Apple, Google rose, while Tesla, Amazon, Microsoft fell.

Li Auto rose by over 1%, Bilibili fell by over 2%, Alibaba, JD.com, Pinduoduo, XPeng, Baidu, NetEase fell.

Strategy Review

1. NVIDIA's Soaring or Not Over Yet! BofA: Could Rise Another 24%, Will Lead the Computing Market in the Future

"NVIDIA is most capable of providing artificial intelligence services to the $3 trillion IT industry. Despite challenges from competitors AMD and Intel, we believe NVIDIA has been leading in performance, product line, position, scale, and developer support for many years."

2. Breaking News! NVIDIA Under Investigation, Tech Giants Facing Antitrust Storm According to reports, the United States will launch an antitrust investigation against NVIDIA, Microsoft, and OpenAI, marking an increasing regulatory scrutiny on the artificial intelligence industry. Will this have an impact on stock prices?

3. "Market Manipulation" by the "Big Brother" Leading to Regulatory Embarrassment: No Basis for Prosecution

Did the "Roaring Little Cat" manipulate the market by using personal influence to drive up meme stock prices, then profit greatly from it? Is this considered market manipulation? The SEC wants to prosecute him for market manipulation, but there is a lack of evidence to prove that the "Big Brother" deceived market investors to some extent, which is currently lacking for the SEC

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