ARMRA | July 2nd, 2024

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GOOD MORNING

Here's everything you need to know today: In a historic ruling, the Supreme Court granted Donald Trump limited immunity from criminal prosecution for specific actions undertaken during his presidency. This landmark decision has profound implications for Trump’s ongoing legal battles and his company, DJT. The ruling comes just three days after the Court struck down the Chevron doctrine, significantly curtailing the power of federal agencies to interpret the laws they administer.

GameStop (GME) stock saw a steep decline as investor Keith Gill, known as "Roaring Kitty," faces allegations of market manipulation in a pump-and-dump lawsuit. This legal action could lead to further depreciation of GME stock and potentially trigger a contagion effect across other speculative meme stocks.

South Korea’s SK Hynix, the world’s second-largest memory chip maker, announced a substantial investment of $75 billion through 2028 to boost its chip business with a heavy focus on AI. SK Group, the parent company, also plans to secure $58 billion by 2026 to invest in artificial intelligence, semiconductors, and shareholder returns while streamlining its subsidiaries.

Let’s dive into more detail below.

ELECTION 2024

In a Historic Ruling, the Supreme Court Grants Trump Limited Immunity

This ruling affects ongoing cases and raises questions about the extent of legal protections for former presidents

BREAKING NEWS
Only three days ago, the Supreme Court struck down the Chevron doctrine, significantly curtailing the power of federal agencies to interpret the laws they administer.

As if that weren’t enough to make the nation uneasy, they delivered a pivotal ruling granting Donald Trump limited immunity from criminal prosecution for specific actions undertaken during his presidency.

This landmark decision has profound implications for Trump’s ongoing legal battles and his company, DJT.

WHAT HAPPENED
The Supreme Court ruled 6-3 in favor of Donald Trump, granting him limited immunity from criminal prosecution for specific actions taken during his presidency. This ruling overturns a previous federal appeals court decision that had denied Trump immunity for alleged crimes committed while in office. The decision will delay the trial for federal election subversion charges against Trump, potentially pushing it beyond the upcoming presidential election.

The former president was charged in August 2023 by Special Counsel Jack Smith with conspiring to overturn the results of his election loss to President Joe Biden in the run-up to the Jan. 6, 2021, riot at the U.S. Capitol.

The Supreme Court emphasized that this immunity only covers official acts taken during Trump’s presidency. It does not extend to unofficial acts, leaving the trial court to determine which of Trump’s alleged actions fall under this new immunity standard.

Figures like AOC have said she will launch articles of impeachment against Supreme Court justices for corruption. At the same time, former president Trump stated on Truth Social, “Big win for our constitution and democracy.”

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MEME STOCKS

GME Crashes Following Keith Gill Pump-and-Dump Lawsuit

GameStop’s operational struggles with digital shift highlight vulnerabilities, exacerbated by Keith Gill’s market influence

BREAKING NEWS
GameStop (GME) stock saw a steep decline as investor Keith Gill, colloquially known as "Roaring Kitty," faces allegations of market manipulation in a pump-and-dump lawsuit.

The legal action asserts that Gill's recent GameStop transactions constitute a sophisticated pump-and-dump scheme, potentially violating securities regulations.

Should these allegations prove substantiated, GME stock is poised for further depreciation, potentially triggering a contagion effect across other speculative meme stocks within the broader market ecosystem.

WHAT HAPPENED
Gill's unanticipated resurgence on social media platforms on May 12, 2024, elicited fervent enthusiasm among his adherents. His cryptic post, depicting a rudimentary illustration of a video game player, lacked contextual clarity but sufficed to catalyze a rally in meme stocks. GameStop (GME) experienced a substantial surge in valuation, with ancillary meme stocks such as AMC Entertainment and KOSS exhibiting sympathetic price movements.

However, this euphoria was short-lived. Within a month, Bill Galvin, the Secretary of the Commonwealth of Massachusetts, initiated a probe into Gill's trading activities, scrutinizing potential market irregularities. Concurrently, Morgan Stanley, the proprietor of the retail trading platform E-Trade, contemplated terminating Gill's account access due to concerns over market manipulation. The allegations gained rapid traction, with Unusual Whales reporting that Gill had secretly acquired a significant position in GameStop call options before his May 12 social media post, precipitating a 74% surge in GME's stock price the subsequent trading day.

On June 2, Gill disclosed his substantial equity stake in GameStop, triggering another discussion about price appreciation. By June 13, he disseminated a screenshot of his portfolio, revealing the liquidation of his call options position while simultaneously augmenting his long position in GME stock. The lawsuit now characterizes these coordinated actions as constituting a pump-and-dump scheme, potentially placing Gill in direct contravention of federal securities laws.

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AI

SK Group, World’s Second Largest Memory Chip Maker, Unveils $75 Billion AI Investment

Aiming to bolster its chip business, SK Hynix underscores its focus on high-performance memory solutions amidst growing demand

BREAKING NEWS
South Korea’s SK Hynix, the world’s second-largest memory chip maker, announced a substantial investment of 103 trillion won ($75 billion) through 2028 to boost its chip business with a heavy focus on AI.

Additionally, SK Group, the parent company, plans to secure 80 trillion won ($58 billion) by 2026 to invest in artificial intelligence, semiconductors, and shareholder returns while streamlining its more than 175 subsidiaries.

The funds will be primarily directed towards investments in AI value chains, including high-bandwidth memory (HBM), AI data centers, and personal AI assistants.

WHAT HAPPENED
This strategic shift was the focal point of a management strategy meeting held on June 28-29 at the SKMS Research Institute in Icheon, Gyeonggi Province. Key figures attended the conference, including Chairman Chey Tae-won, Senior Vice Chairman Chey Jae-won, SUPEX Council Chairman Chey Chang-won, and around 20 CEOs of significant affiliates. The group aims to strengthen its AI value chain leadership by investing in high-bandwidth memory (HBM) chips, AI data centers, and personal AI assistants. SK Hynix, the world's second-largest memory chipmaker, will invest 103 trillion won ($74.6 billion) over the next three years to bolster its chip business.

Additionally, SK Telecom and SK Broadband will invest 3.4 trillion won in establishing AI data centers by 2028. SK Hynix has confirmed that its high-bandwidth memory (HBM) chips have sold out for this year and are almost sold out for 2025. HBM chips are a critical component in AI chips as they provide faster processing speeds and reduced power consumption compared to traditional memory chips. This significant investment underscores SK Group's commitment to advancing its technological capabilities and securing a leading position in the AI and high-performance computing sectors.

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1. Boeing Acquires Spirit AeroSystems for $4.7 Billion

Boeing has announced a $4.7 billion acquisition of Spirit AeroSystems, a key fuselage supplier. This move aims to address manufacturing and safety issues, reversing Boeing's earlier strategy of outsourcing production.

2. Nio Reports Record Deliveries in June

Nio delivered 21,209 vehicles in June and a record 57,373 vehicles in Q2, surpassing previous guidance. The Chinese EV company’s strong performance indicates a significant year-over-year growth of 98.1%.

3. US Supreme Court to Rule on Debit Card 'Swipe Fees'

The US Supreme Court is set to decide on a case challenging Federal Reserve regulations on debit card "swipe fees." The ruling could impact businesses' ability to contest longstanding federal rules.

4. Google Invests in Taiwan Solar Power Firm

Google has acquired a stake in Taiwan's New Green Power, owned by BlackRock, aiming to purchase up to 300 megawatts of renewable energy. This investment is part of Google's strategy to reduce carbon emissions.

5. Tesla's Quarterly Deliveries Expected to Decline

Tesla's deliveries for the June quarter are projected to fall by 3.7%, marking the first consecutive quarterly decline. The decline is attributed to intense competition in China and a slowdown in demand for new models.

6. Nvidia Faces French Antitrust Charges

Nvidia is expected to be charged by French antitrust regulators for allegedly anti-competitive practices. This makes France the first country to take legal action against the world’s most valuable chipmaker.

7. Circle Becomes First Licensed Stablecoin Issuer Under MiCA

Circle has announced that it became the first stablecoin issuer to obtain a regulatory license under the European Union's Markets in Crypto-Assets (MiCA) regulations. Circle will issue euro-denominated EURC stablecoin and USDC in the EU.

8. Six Flags and Cedar Fair Complete $8 Billion Merger

Six Flags and Cedar Fair have completed an $8 billion merger, creating the largest theme park operator in North America. The combined company aims to enhance customer experiences and operational efficiencies.

9. Rivian Stock Surges After $5 Billion Volkswagen Investment

Rivian shares soared following a $5 billion investment from Volkswagen. The cash infusion is expected to bolster Rivian’s position in the competitive electric vehicle market.

10. Chewy Shares Surge After Keith Gill's $245 Million Stake

Chewy Inc.'s shares jumped 29% in premarket trading after Keith Gill, also known as "Roaring Kitty," disclosed a 6.6% passive stake worth $245 million. The news significantly boosted investor confidence in the online pet retailer.

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Today's insights are courtesy of ARMRA Colostrum™, it protects, rebuilds, and strengthens your body’s barriers for defense against everyday threats and enhanced vitality.

Learn More ➔