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The Kobeissi Letter
This is truly incredible:
The Nasdaq's market cap to US GDP ratio hit a record 103% in 2024.
This ratio has risen by ~40 percentage points since the 2022 October low and exceeds the previous high posted in 2021.
To put this into perspective, at the 2000 Dot-Com Bubble peak, the ratio was just ~62%.
Meanwhile, the total US stock market cap to GDP hit ~207%, near an all-time high.
In other words, the increase in market value has materially surpassed US economic growth over the last 15 years.
The US stock market has never been bigger.
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This is truly incredible:
The Nasdaq's market cap to US GDP ratio hit a record 103% in 2024.
This ratio has risen by ~40 percentage points since the 2022 October low and exceeds the previous high posted in 2021.
To put this into perspective, at the 2000 Dot-Com Bubble peak, the ratio was just ~62%.
Meanwhile, the total US stock market cap to GDP hit ~207%, near an all-time high.
In other words, the increase in market value has materially surpassed US economic growth over the last 15 years.
The US stock market has never been bigger.
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Offshore
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The Kobeissi Letter
The market is confused:
We are now seeing 50+ POINT swings in the S&P 500 on an hourly basis as the trade war accelerates.
In just 5 hours today, the S&P 500 erased -$800 BILLION in market cap with 6 swings of 50+ points.
What is happening? Let us explain.
(a thread) https://t.co/tsRXt7Eu9G
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The market is confused:
We are now seeing 50+ POINT swings in the S&P 500 on an hourly basis as the trade war accelerates.
In just 5 hours today, the S&P 500 erased -$800 BILLION in market cap with 6 swings of 50+ points.
What is happening? Let us explain.
(a thread) https://t.co/tsRXt7Eu9G
tweet
Offshore
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The Kobeissi Letter
BREAKING: The Nasdaq 100 is now down -500 POINTS as President Trump ramps up tariff threats. https://t.co/gMGkGrq3cB
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BREAKING: The Nasdaq 100 is now down -500 POINTS as President Trump ramps up tariff threats. https://t.co/gMGkGrq3cB
The market is confused:
We are now seeing 50+ POINT swings in the S&P 500 on an hourly basis as the trade war accelerates.
In just 5 hours today, the S&P 500 erased -$800 BILLION in market cap with 6 swings of 50+ points.
What is happening? Let us explain.
(a thread) https://t.co/tsRXt7Eu9G tweet
Offshore
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The Kobeissi Letter
Nvidia, $NVDA, after crushing earnings expectations:
-$350B of market cap lost during intraday trade alone.
Truly incredible how fast sentiment shifts. https://t.co/yZMZCiK1N9
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Nvidia, $NVDA, after crushing earnings expectations:
-$350B of market cap lost during intraday trade alone.
Truly incredible how fast sentiment shifts. https://t.co/yZMZCiK1N9
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The Kobeissi Letter
BREAKING: The SEC has officially dropped its lawsuit against Coinbase, $COIN. https://t.co/Cmfya1uuIF
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BREAKING: The SEC has officially dropped its lawsuit against Coinbase, $COIN. https://t.co/Cmfya1uuIF
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The Kobeissi Letter
WOW.
The SEC just said that meme coins are generally NOT considered securities under US federal law.
They also said that meme coins have "limited or no use" and do not need to be registered with the SEC.
This is a MASSIVE statement by the SEC. https://t.co/7KpB2c2481
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WOW.
The SEC just said that meme coins are generally NOT considered securities under US federal law.
They also said that meme coins have "limited or no use" and do not need to be registered with the SEC.
This is a MASSIVE statement by the SEC. https://t.co/7KpB2c2481
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The Kobeissi Letter
SEC: "Meme coins typically have limited or no use or functionality."
Did the SEC just call meme coins worthless?
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SEC: "Meme coins typically have limited or no use or functionality."
Did the SEC just call meme coins worthless?
WOW.
The SEC just said that meme coins are generally NOT considered securities under US federal law.
They also said that meme coins have "limited or no use" and do not need to be registered with the SEC.
This is a MASSIVE statement by the SEC. https://t.co/7KpB2c2481 tweet
Offshore
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The Kobeissi Letter
BREAKING: Bitcoin falls below $82,000 for the first time since November 11th. https://t.co/ZyUARTWW9U
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BREAKING: Bitcoin falls below $82,000 for the first time since November 11th. https://t.co/ZyUARTWW9U
Crypto markets in trade wars:
Since trade war worries began on January 20th, crypto markets have erased -$800 BILLION.
For 10+ years, Bitcoin was viewed as a decentralized HEDGE against uncertainty, but something changed.
Why is crypto falling? Let us explain.
(a thread) https://t.co/NQiRiD5Be5 tweet
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The Kobeissi Letter
A complete bloodbath in Ethereum:
Ethereum has now lost ONE THIRD of its value over the 4 weeks.
It's now down nearly -50% since December 17th and nearing $2,000 for the first time since November 2024.
Talk about a shift in sentiment. https://t.co/DLe6uZ1ijD
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A complete bloodbath in Ethereum:
Ethereum has now lost ONE THIRD of its value over the 4 weeks.
It's now down nearly -50% since December 17th and nearing $2,000 for the first time since November 2024.
Talk about a shift in sentiment. https://t.co/DLe6uZ1ijD
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