Sports Research | May 14th, 2024

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GOOD MORNING

Here's everything you need to know today: GameStop's stock is surging once again, fueled by a comeback from "Roaring Kitty," the iconic figure behind the 2021 meme stock frenzy. His recent social media post has reignited interest, leading to significant rallies in GameStop and other meme stocks like AMC.

In a move to boost local automakers, President Biden is set to impose a 100% tariff on Chinese electric vehicles. This decision targets China's subsidized EV market, aiming to level the playing field for American and European manufacturers and shake up the global EV landscape.

Meanwhile, OpenAI has announced a major upgrade with GPT-4o and a new desktop version of ChatGPT. These advancements promise faster, more affordable AI capabilities and broaden the tool's usability, positioning OpenAI as a strong competitor against Google's and Claude AI's offerings.

Let’s dive into more detail below.

MEME STONKS

GameStop Hits $10 Billion Valuation as Stock Rises 100% as Roaring Kitty Returns​

The iconic meme stock leader's latest post triggers a rally, reminding investors of the power of social media-driven trading and memes

BREAKING NEWS
In January 2021, GameStop took the markets and hedge funds for a ride, seeing $GME reach a pre-market value of over $500 per share, almost 30 times the price.

Gill, the pivotal figure in his red bandana and leader of the initial meme stock explosion, has returned to social media platform X with a meme that instantly reignited interest in GameStop's stock.

This marks his first appearance since June 2021, when he famously testified before Congress regarding the meme stock movement he helped fuel.

WHAT HAPPENED
"Roaring Kitty," whose bullish views on GameStop spurred the original massive retail trading frenzy, posted a suggestive meme of a video gamer intensely focused on the screen, possibly signaling his continued engagement with GameStop's stock.

Following his post, GameStop's shares exploded, accompanied by similar rallies in meme stocks like AMC and Trump Media & Technology. S3 Partners' Ihor Dusaniwsky reported significant losses for short sellers, with GameStop shorts down approximately $1.34 billion in May alone. Gamestop is now a 10 billion dollar company for the first time since October 2022.

There are reports that Robinhood is not allowing trading of $GME, and E-trade is down as $GME continues to rise.

If you are on the X platform, Roaring Kitty's account regularly features media clips from iconic films and series, adding a cultural layer to his financial commentary. Clips from "Ferris Bueller's Day Off," "Game of Thrones," and "There Will Be Blood" are interspersed with his market insights, blending pop culture with investment advice. This unique style maintains his follower base and enhances his messages' appeal and relatability, reinforcing his influence in the meme stock community.

CONTINUE READING ➔

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ECONOMICS

Biden Hints at Slapping 100% Tariffs on Chinese EVs to Boost US Automakers

Tariffs target Chinese electric vehicles, aiming to counteract unfair subsidies and boost domestic production

BREAKING NEWS
President Biden is gearing up to slap a 100% tariff on Chinese electric vehicles this week, aiming to give American and European automakers a fighting chance.

This move follows mounting pressure from carmakers, unions, and bipartisan support in Congress and is the latest salvo in the ongoing battle against China's aggressive subsidizing of its green industries.

This move could shake up the global EV market and finally put American and European EV automakers on the map.

WHAT HAPPENED
China's EV makers, like BYD, have been enjoying billions in subsidies, making their cars cheaper and giving them an unfair edge over competitors. This has led to a flood of low-cost Chinese EVs in foreign markets, particularly in Europe, where 1 in 5 EVs sold last year came from China.

Leading Chinese EV brands such as Geely, Nio, SAIC Motor, and XPeng will likely bear the brunt of these new tariffs. BYD, known for its diverse range of eco-friendly vehicles, has been a significant player in the Chinese market. Geely, which owns brands like Volvo, Polestar, Zeekr, and Lotus, is renowned for delivering high-quality products. Nio, targeting wealthier customers, and SAIC Motor, with its strategic partnerships and best-selling Hongguang Mini EV, will also face significant challenges. XPeng, heavily investing in cutting-edge technology and having international ambitions, will find that its global expansion plans need to be improved by these tariffs.

With these new tariffs, the US aims to curb this influx and protect its automotive industry from being undercut by heavily subsidized imports. The EU is also expected to follow suit with more vital tariffs.

CONTINUE READING ➔

AI

OpenAI Introduces Game-Changing GPT-4o and Desktop ChatGPT

The new launch once again positions OpenAI ahead of competitors with significant improvements in AI interaction and broader language capabilities, targeting global markets

BREAKING NEWS
OpenAI launched a significant upgrade to its AI offerings Monday by introducing GPT-4o, a new model, and a desktop version of its widely used chatbot, ChatGPT.

Announced during a live-streamed event by technology chief Mira Murati, these developments mark a significant advancement in user accessibility and technological capabilities, and they are a challenge to Google's Gemini and Claude AI.

The desktop application is set to broaden the tool's usability, bringing sophisticated AI interactions to users' fingertips with improved ease of use and expanded language support.

WHAT HAPPENED
During the announcement, OpenAI revealed that GPT-4o not only enhances the speed and quality of ChatGPT across 50 languages but also halves the cost and doubles the speed compared to its predecessor, GPT-4 Turbo. This model integrates seamlessly into OpenAI's API, allowing developers immediate access to its advanced features for building applications. Demonstrations of GPT-4o's capabilities showcased its ability to perform audio translations, solve complex mathematical equations, and even assist in coding, positioning it as a formidable tool against competitors like Microsoft's GitHub Copilot.

The updated user interface and additional features, such as emotional perception and interactive storytelling, illustrate OpenAI's commitment to making AI more intuitive and versatile for everyday tasks and professional demands.

CONTINUE READING ➔

1. Biden to Impose 100% Tariffs on Chinese EVs

The Biden administration is set to impose 100% tariffs on Chinese electric vehicles this week, reflecting heightened concerns over the subsidies provided to Chinese OEMs by their government.

2. US Home Prices Jump 47% Since 2020

A ResiClub analysis based on the Case-Shiller National Home Price Index indicates a 47% increase in U.S. home prices since 2020, surpassing growth rates of previous decades.

3. Elon Musk Reverses Course, Rehires Tesla Supercharger Team

After announcing layoffs, Elon Musk is rehiring the Tesla Supercharger team to meet the goals of a $500 million expansion of the network, emphasizing the company's commitment to enhancing charging infrastructure.

4. Airlines Challenge New Fee Disclosure Rule

U.S. airlines are suing the Biden administration over a new rule that mandates quicker disclosure of fees during the flight booking process, arguing it could affect their operations.

5. Bitcoin Risks 'Panic' Selling as Prices Drop Below $60K

Bitcoin's price slipping below $60K has triggered fears of 'panic' selling, influenced by miners selling assets and increasing regulatory scrutiny.

6. Amazon to Invest $1.3 Billion in France, Creating 3,000 Jobs

Amazon plans to bolster its French operations with a $1.3 billion investment, expected to create over 3,000 jobs, aligning with broader economic expansion goals in Europe.

7. Permira Takes Squarespace Private in $6.6 Billion Deal

In a significant move in the tech industry, Permira will take Squarespace private through an all-cash transaction valued at $6.6 billion.

8. Bill Hwang's Archegos Collapse Trial Begins

The trial over the $36 billion collapse of Archegos Capital begins, testing prosecutors' theory of market manipulation. This case could reveal much about Wall Street's interactions with high-risk clients and is expected to last up to eight weeks.

9. U.S. Probes Amazon's Self-Driving Taxi Unit Zoox After Accidents

The U.S. highway safety agency has launched an investigation into Amazon's autonomous robotaxi unit, Zoox, following two incidents where the self-driving taxis braked suddenly and were rear-ended by motorcyclists.

10. Apple Store Employees in Maryland Vote to Authorize First Strike

Workers at the first unionized Apple Store in Maryland have voted to authorize a strike, escalating their fight for better working conditions against the tech giant.

CONTINUE READING ➔

Today's insights are courtesy of Sports Research. Their Creatine Monohydrate is a creatine you can trust, providing you with 5 grams of micronized creatine per scoop, making it easier for you to become stronger and recover after a workout.

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