Softbank missed earnings. Specifically, the company missed revenue expectations by 70%. First, the obvious - those analysts are idiots. Second, the less obvious - the company only did that well because they claimed gains in its OpenAI position.
What I find funny is that people will still give Son money because economic memory is asymmetric. Son is the quintessential one-hit wonder. That continues to make albums that flop. But, all people remember is Alibaba. Not WeWork or Wirecard or Zymergen. Technically the latter did get bailed out by Ginko Bioworks during its moon phase. Buffett is a god because he is a two hit wonder. GEICO and Apple.
By the way, NYSE:$DNA is back in the channel.
Softbank is an acceptable excuse to blame today’s selloff on. But, it’s not the only acceptable excuse. JP Morgan also predicted a slight uptick inflation. That too would be bad.
But the reality is, the day before the CPI was always going to be low bid pressure. And any excuse is just copium.
Opportunistic shorts are always going to hit the market when there is low bid pressure.
Now, if there is a hot CPI print tomorrow bid won’t be returning on the morrow either.
I am very curious to find out if Truflation’s data is worth anything. They are showing disinflation. I personally didn’t expect resurgent inflation to start until this month, February.
I expect a dislocation in the market tomorrow. Not sure which way yet.
Remember, SCOTUS can rule next week on tariffs.
I took the proceeds from today’s volatility trading and bought the one Phoenix setup that the office did not already own: Tenax Therapeutics. For some reason I just missed this setup last Summer. I discussed all these plays in chat yesterday.
As always, if you think there are spelling errors update your dictionary to the latest version. Happy speculation!
— AJ
Event Horizon Tools
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