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  • Stonks: $AAPL AI, $TSLA vote, $RXRX supercomputer, and consumer credit

Stonks: $AAPL AI, $TSLA vote, $RXRX supercomputer, and consumer credit

Author

Michael Luo
June 10, 2024

Here’s the latest “under the radar” stock news from Reddit in the last 24 hours that you don’t want to miss, as picked by Fluid Bot’s AI.

Apple announces new AI features, including ChatGPT integrated in Siri

  • Apple is introducing new AI features in iOS 18, including email summarization and response generation.

  • A new feature called Genmoji will allow users to create custom emojis from text prompts.

  • A new AI image generator, Image Playground, is being launched.

  • ChatGPT is being integrated into Siri.

  • The upgraded Siri will appear as a pulsating light on the device edge.

  • Siri will automatically decide if a query should be handled by ChatGPT.

American consumer credit is tapped out and growth is off the table 

  • Reddit sentiment: mixed/negative (general concern about financial instability and consumer debt issues, hopeful about potential rate cuts helping the situation)

  • Consumer credit is an important indicator of economic health

  • Revolving credit balances have been growing rapidly due to inflation

  • Motor vehicle loans have also seen growth, but decreased in Q1 2024

  • Delinquent loans are being sent to collections, stalling consumer spending

  • High credit card delinquency rates and auto loan delinquencies suggest a tapped out consumer

  • Uncertain future, potential market crash after a bullish run, bear market coming soon

  • Expect tepid Q2 earnings, potential downturn in Q3 and end of year

  • Market may continue bull run into November, possible crash in Q1 or sooner

  • Consumers are defaulting on debt as fast as they're spending, stalling economic growth.

Tesla shareholders will vote on Elon Musk's controversial $56B pay package this week: Here's what's at stake

  • Reddit sentiment: negative (Most are critical of Elon Musk, his pay package, and Tesla's direction, with some users considering bearish positions on the stock)

  • Tesla shareholders will vote on Elon Musk's controversial $56 billion pay package this week

  • Musk's pay package has been embroiled in controversy, with some believing it is excessive

  • Musk's compensation package is similar to the one invalidated by a Delaware court earlier this year

  • Shareholders are concerned about Musk's divided attention due to his involvement in other ventures

  • Proxy adviser firm Glass Lewis and Norway's sovereign wealth fund have urged shareholders to vote against Musk's compensation package

  • Large funds like Vanguard and BlackRock have not commented on Musk's pay package

  • Analysts predict that shareholders will approve Musk's pay package, but the vote may be closer than expected

  • Musk supporters argue that his presence is necessary for the future of Tesla

  • Rejection of Musk's pay package could increase uncertainty about Tesla's future leadership

$RXRX backed by $NVDA - Largest Supercomputer in Biotech - Larger SI than Meme stocks. 

  • Reddit sentiment: mixed/negative (upside potential and strong partnerships for $RXRX, significant concerns about its financial viability, limited cash runway, and general skepticism about its future)

  • $NVDA has invested in startup company RXRX which owns the 35th most powerful supercomputer

  • RXRX is highly shorted in the gene editing sector with a healthy balance sheet

  • The company is heavily owned by insiders, Cathie Woods, and other funds

  • RXRX is a major holding for $NVDA and other successful investment firms

  • RXRX focuses on speeding up drug discovery through AI

  • Market environment indicates potential for increasing stock value

  • RXRX is positioned for growth in the AI revolution and could attract retail and institutional investors.