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  • Stonks: NYSE reverses, xAI over TSLA, $INTC shots, Keith Gill

Stonks: NYSE reverses, xAI over TSLA, $INTC shots, Keith Gill

Author

Michael Luo
June 04, 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.

NYSE to “bust” all the “erroneous” trades of Berkshire Hathaway stock at or below $603,718.30 a share 

  • Investors who purchased shares of Warren Buffett’s Berkshire Hathaway at a significant discount due to a technical glitch had their trades canceled by the NYSE

  • A data glitch caused Berkshire Hathaway's stock price to temporarily drop to $185 a share, down from over $620,000

  • NYSE swiftly undid trades at or below $603,718.30 a share, related to a problem at the Consolidated Tape Association (CTA)

  • Trades in other stocks like Chipotle ($CMG) and Barrack Gold Corporation ($GOLD) were also impacted and may be canceled

  • Traders who didn't buy the discounted Berkshire Hathaway stock but invested in other affected brands could see their trades undone without appeal.

Elon Musk told Nvidia to prioritize shipments of processors to X and xAI ahead of Tesla. 

  • Elon Musk ordered Nvidia to prioritize shipments of AI chips to X and xAI over Tesla

  • Musk diverted a sizable shipment of AI processors reserved for Tesla to X

  • This delayed Tesla's receipt of over $500 million in processors by months

  • Tesla shares slipped about 1% on the news

  • Musk is investing heavily in AI for both Tesla and X

  • Musk is juggling multiple companies, leading to concerns from Tesla shareholders

  • Musk's actions have raised concerns about conflicts of interest between his companies

  • Musk's acquisition of Twitter, X, and xAI have raised concerns about resource sharing and conflicts of interest

Intel fires off huge shots in performance, pricing and power at Computex, able to now significantly undercut competitors at same performance 

  • Intel launched new Xeon server processors to regain data center market share

  • Gaudi 3 AI accelerator chips are priced lower than rivals

  • AMD has gained market share due to Intel's manufacturing issues

  • Xeon 6 server processors come in efficiency and performance models

  • Gaudi 3 accelerator kit costs $125,000, while Gaudi 2 costs $65,000

  • Intel also announced Lunar Lake laptop chip with more powerful AI processor

  • Arrow Lake and Panther Lake chips are planned for future release

  • Intel aims to power the largest number of next gen AI PCs in the industry

  • Intel positioned Gaudi 3 as a cheaper alternative to Nvidia's H100 chips

E-Trade Mulls Removal Of Meme-Stock Trader Keith Gill, Report Says 

  • E-Trade is considering removing meme-stock trader Keith Gill from its platform over concerns of stock manipulation

  • Gill revealed a $116 million position in GameStop triggering a spike in shares

  • GameStop's stock closed up 21% at $28 per share after Gill's disclosure

  • E-Trade is trying to determine if Gill can manipulate the stock

  • GameStop shares slid 10% after the report of Gill's large position

  • Gill has a large following on Reddit under the name "DeepF—ingValue"

  • Gill was a key figure in GameStop's 2021 surge against institutional investors

  • The Melvin Capital hedge fund shut down after losing billions in short positions against GameStop.

9 stock make up almost 35% of the Market

  • 9 companies make up 34.41% of the market

  • Valuation doesn't seem to matter for these companies

  • Major companies include Microsoft ($MSFT), Nvidia ($NVDA), Apple ($AAPL), Amazon ($AMZN), Meta Platforms ($META), Alphabet Class A ($GOOGL), Alphabet Class C ($GOOG), Berkshire Hathaway Class B ($BRK.B), Eli Lilly & Co. ($LLY), JPMorgan Chase & Co. ($JPM)