Click here for the PDF: The Weekly Beacon May 17 2024 US

We will be giving some macro economic market updates on a weekly basis. No equity recommendations will be given in this commentary, and we encourage you to contact us if you have questions regarding any observations.

Feel free to send in your pictures of lighthouses to be featured in our weekly commentary.

This weeks issue: Meme stocks, Circa 2021, Roaring Kitty, Retail traders, Gamestop stock, AMC stock, Short squeezes, Hedge funds, EV demand, Hybrid demand, Auto sales, Trade wars, China and the U.S. geopolitics, EV sanctions, Rare earth metals, China ETF, Interest rates, FED decision, Inflation report, Uranium and nuclear energy, Spot price of uranium, Nuclear energy, Red Lobster bankruptcy, Chapter 11 filings, Thai Union Group.

Meme rally

Is it 2021 all over again?

On Monday, GameStop shares were halted on the New York Stock Exchange after a 110% rally to start the day. The GameStop surge comes with the return of popular Reddit user and retail trader Roaring Kitty (Keith Gill). Roaring Kitty was one of the leaders in the short squeeze meme stock era back in 2021. Roaring Kitty also testified in Congress during a hearing on markets, hedge funds, and short squeezes.

The jump in the stock price came with no news reports or filings by GameStop. The outsized move was reminiscent of price swings in 2021 when retail traders battled against large hedge funds who were betting against the video game maker GameStop and other companies.

Despite remaining well-off 2021 highs, GameStop shares have surged over 250% over the last month and are at a 52-week high.

 

Click here for the PDF: The Weekly Beacon May 17 2024 US