😏 Is the Big Squeeze Over?

Good morning. Shares of GameStop (GME) are back under $50. For those who bought near the peak..

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. Shares of GameStop (GME) are back under $50. For those who bought near the peak, that's nearly a 90 percent drop. For those who bought near the stock's 52-week low, that's still a 10-fold gain. With trading volume on the stock dwindling, it's possible that the squeeze is over, and that many have already taken profits (or losses). There's still some chatter that the short positions held by hedge funds were only covered synthetically, and many retail investors are willing to hold onto their shares indefinitely. While there may be a second bump in shares, most traders looking for a big move have moved on to other names. Now, all that's left is speculating on casting for the inevitable movie about the time Main Street took on Wall Street at its own game and was winning—until it got shut down. Now here's the rest of the news: Sponsored Content 65 Year Old Grandma Humiliates Wall Street's Top Traders… They laughed when this backwoods grandma taught herself how to trade options for income. But she's got the last laugh now… and she's sharing her #1 tip for FREE! Click HERE for instant access… MARKETS DOW 31,375.04 -0.03% S&P 3,911.29 -0.11% NASDAQ 14,007.70 +0.14% *As of market close • Stocks had a slow day on Tuesday, with all three indices largely unchanged. • Oil rose 0.6 percent, closing at $58.34 per barrel. • Gold rallied 0.1 percent, hitting $1,836 per ounce. Silver fell 1 percent to $27.30. • Cryptocurrencies continued rallying, with Bitcoin last trading at $47,130. Today's TOP TIPS A Defensive Play with Strong Growth Trends When times get tough, investors turn to defensive stocks. Typically areas such as utilities or telecoms, these companies tend to offer slower prospective growth, but offer some strong income opportunities as well. Some other sectors such as consumer goods also fall into the defense space. But, under the right circumstances, companies in this space can see solid growth during an expanding economy as well. » FULL STORY Insider Trading Report: Sally Beauty Holdings (SBH) Christian Brickman, President and CEO of Sally Beauty Holdings (SBH), recently added 10,000 shares to his holdings. The buy increased his total stake by 2.2 percent, and came to a total cost of just over $145,000. Over the past three years, insider buys have far exceeded insider sales. Buys have occurred by both directors and C-suite employees. The last insider sale at the company was in May 2020. » FULL STORY Unusual Options Activity: Twitter (TWTR) Social media giant Twitter (TWTR) saw a backlash last month over a number of banned accounts, including that of then-president Donald Trump. However, shares have started to move higher in the past few weeks, and one trader sees a continued rally ahead. That's based on the March $85 call option. Expiring in 37 days, and with shares trading at $60, it's an aggressive bet on shares continuing their current strong rally. » FULL STORY IN OTHER NEWS • E-Commerce Companies Focus on Lower Return Rates Goods bought online have about a 30 percent or higher return rate than goods bought in-store. Companies are looking for ways to lower return rates, to keep processing and inventory costs down. Some retailers are working on tools like virtual dressing rooms for clothing, and for smaller items, retailers are increasingly telling customers to keep unwanted items. • Shopify Expands Shop Pay to Facebook, Instagram Shopify's Payment option, Shop Pay, will now be available outside the company's own platform. The expansion with Facebook (and Facebook-owned Instagram) creates a significant expansion for the e-commerce firm, and may spark other cross-payment platform opportunities in the future. Shop Pay already has 40 million buyers using the platform. • Job Openings Rise to 6.65 Million The number of job openings sightly beat expectations in November. However, some areas, such as the hospitality industry, saw a sharp drop in both new openings and a rise in layoffs. This still the highest level since before the pandemic, when job openings topped 7 million. An estimated 4.1 million workers still remain unemployed. • Robinhood Faces Wrongful Death Lawsuit A 20-year-old college student, who believed he had a negative balance of $730,000 on his Robinhood account, committed suicide last summer. The family is suing on the grounds that the company lured inexperienced investors in who were then able to make risky investments without fully understanding the implications of their trades. • Despite Bitcoin's Increased Corporate Interest, It Still Lags as a Form of Payment The idea behind cryptocurrencies would be that they could be used as forms of payment. That "currency" part of cryptocurrency hasn't happened yet, even as many companies are looking to add cryptos to their balance sheets. The reasons? Daily volatility and transaction costs. Those will likely come down in time, but for now, accumulation is the name of the game. S&P 500 MOVERS TOP HBI 24.906% IT 9.286% AMG 7.585% NLOK 7.174% NTES 6.679% BOTTOM FTI 6.686% CARR 6.171% TTWO 6.108% FOXA 5.996% FOX 5.895% Quote of the Day We know financial conditions are supportive and investors have gotten more enthusiastic ... But this does not mean the stock market is in a speculative bubble. - Invesco chief global market strategist Kristina Hooper on why the stock market is capable of further gains from here, even as speculative retail trading has led to increased talk of a bubble. 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