GameStop surges. shorting Nvidia: Market Domination

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It was a quieter day on Wall Street, with the major indexes (^DJI,^GSPC, ^IXIC) little changed ahead of the May jobs report. One of the biggest movers of the...

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So if there is any kind of doubt any hotter than expected inflation data, then unfortunately, that does probably push out that likely date through to the end of the year.So let's take a look here first, at the major averages here.Um We are focusing more, it seems like traders are focusing more on tomorrow's jobs report versus anything that happened today.

So we're gonna talk about that in just a few, the shares up 56% over two days, but on the single session up 32%.Jared, thank you, Julie investors on edge with the major averages.The euphoria over Nvidia's $3 trillion market cap fading a little bit.Thank you for joining us here.You know, we're very much believers in the A I story.I think we're so early in the phases of that transfusing through the economy.

We actually think tech as a whole is only half the multiple of what it was in 2000 and, and much more reasonably priced than it was back then.Well, back then you had, uh, nine stocks, triple digit pe some of the largest stocks, sp 500 had hundreds of pe ratios, Cisco in the hundreds of pe S NVIDIA is expensive, but it's still around 40 times next year earnings.

Now, the question is, can they say the data is coming enough that they have confidence that inflation is well on its way down? We had um uh some uh I guess surrounding the end of the decision there in India, we have modi remaining in power, but he has a reform agenda. It's been tough for small caps who are more reliant on bank lending and so that they're paying the higher cost of the fed.We think that broader participation would include things like the small caps.You know, the the long term bonds, the tips yields are only 2%.We want to check on shares of gamestop here that are soaring today as we talked about earlier, some 40%.

We'd have an episode, then we'd have a few weeks for us and, and you know, maybe it's tied to the option schedule, maybe it's tied to something else. Josh Lipton sat down with Palantir Technology Ceo Alex Carp to discuss the company's A I platform defense spending and more.Now for a look at some trending tickers first up JM Smucker, the company reporting earnings that came in way above analysts expectations, the shares up by some 4%.

And this is all part of the big, the kind, a big pusher to make these cars cheaper but not sort of ruin the experience or make the cars lesser than what they were before.Make these cars actually profitable and they need to bridge that kind of road to 2026 when the R two comes out of the new vehicle. Although we are seeing a pull back just a small one today and with Nvidia's 10 to 1 stock play coming up tomorrow, we may see another surge in short selling and options trading for more.Well, NVIDIA has got a is, is the largest short in the US market with $34 billion of short interest.People are shorting it based on being a momentum stock and also a hedge to the market and a hedge to the tech side of uh of the uh of the street.

So, you know, you gotta see who's, who's on each week, uh, each side of the market and we're seeing a lot of shorts betting, the, uh, betting for downturn.We were talking about roaring kitty Keith Gill.What kind of short interest are you seeing in Gamestop ahead of this event?We've got $2 billion worth of shorts, uh, interest in Gamestop.

Well, and that, that's what's interesting to me as well because I've seen some chatter recently that it's not just shorts that are getting out of the market with something like that, that generally in the market there is lower short interest.You know, not really, we're, we're seeing that the short interest has actually gone up over the last 30 days.

Uh So, you know, the the people are rotating in and out of sectors uh but generally short interest is still up. You can get in and out of the position as opposed to, you know, going in and out of Bitcoin itself uh or paying a premium in the ETF.

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