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  • Stonks: $TSLA India, Adobe soars, $SNOW insiders, and $NVDA demand

Stonks: $TSLA India, Adobe soars, $SNOW insiders, and $NVDA demand

Author

Michael Luo
June 14, 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.

Tesla coming to India? Elon Musk drops major hint 

  • Reddit sentiment: mixed/negative (most comments are skeptical about the practicality and success of Tesla in India due to market size, affordability, infrastructure, and regulatory challenges).

  • Musk hinted at Tesla entering the Indian market

  • Musk plans to visit India in 2024

  • Tesla may set up manufacturing unit in India

  • Musk also eyeing Indian market for Starlink

  • Musk seeks import duty reductions in India

  • Potential for Tesla electric cars in India

  • Regulatory approvals awaited for Starlink in India

Adobe shares soar 15% on better-than-expected results

  • Reddit sentiment: mixed/positive (most comments highlight Adobe's recovery, AI capabilities, conservative guidance, raised annual targets, and superior product offering).

  • Adobe shares jumped 15% after reporting earnings and revenue that beat estimates

  • Earnings per share: $4.48 (expected $4.39)

  • Revenue: $5.31 billion (expected $5.29 billion)

  • Revenue grew 10% year over year

  • Adobe shares soared 17% in extended trading after reporting better-than-expected earnings and revenue

  • Adobe's revenue grew 10% year over year in the quarter

  • Full-year guidance was boosted, with adjusted earnings per share expected to be between $18.00 and $18.20

  • Adobe saw success in the Digital Media business, with net-new annualized recurring revenue exceeding expectations

  • The company announced the availability of a service for fine-tuning their Firefly generative artificial intelligence models

  • Before the announcement, Adobe shares were down 23% for the year, while S&P 500 was up around 14%

Snowflake insiders buying millions of shares

  • Reddit sentiment: mixed/negative (skepticism and negative sentiment regarding Snowflake's historical performance and insider actions)

  • Snowflake stock has dropped 40%

  • Snowflake plans to release Snowflake AI, inspired by Apple's strategy with Siri and ChatGPT

  • Snowflake hopes this will increase their stock price, similar to Oracle and Adobe

  • Snowflake may be artificially inflating their stock through marketing tactics and insider buying

  • Nancy Pelosi may receive insider information to buy call options on Snowflake $SNOW

Friday’s trading could trigger a $10 billion rush of demand for Nvidia Shares 

  • Reddit sentiment: mixed/positive (Some neutral comments and questions, majority of the comments are positive Nvidia's performance and potential increase in demand).

  • XLK is a technology stock fund

  • Apple and Microsoft are the two biggest holdings in the fund, each roughly 22%

  • Nvidia makes up less than 6% despite being close in market cap

  • Rules suggest similar gap could occur at quarterly rebalance

  • If Nvidia climbs to second, it could result in the chipmaker's weight in the fund to be 21%

  • This could result in the fund acquiring more than $10 billion worth of shares in Nvidia

  • The potential shuffle in the XLK is a mechanical example of concentration risk in stock portfolios, with a few companies holding large weights