TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 OXY
Occidental Petroleum
-- 47.130 AMD
Advanced Micro Devices
-- 119.210 
Market Climbs, SMCI Auditors Allege Mischief on Mischief Night | Live Stock
Afternoon traders. Happy Wednesday, October 30th. The market is pulling some mischief on the day before Halloween, known as mischief night in the United States. Indexes are climbing, but some earnings responses are severe. $Meta Platforms (META.US)$ and $Microsoft (MSFT.US)$ are due to report after the market closes.
My name is Kevin Travers; here is the news about animal spirits moving markets today.
$Super Micro Computer (SMCI.US)$ fell 30% after the firm said Wednesday that its accounting contractor - Earnest and Young - resigned with fears that SMCI was not upholding ethical accounting and reporting practices, about a week before the next expected earnings date. The firm delayed its reporting in August and has still not reported its full-year results for a fiscal year that ended in June after running into accounting issues. It was the largest decliner on the S&P 500.
$Advanced Micro Devices (AMD.US)$ fell 9% Wednesday, the lowest on the Nasdaq 100 hind SMCI after the chipmaker's Tuesday release of fourth-quarter revenue outlook missed analysts' estimates. Its Q3 results, otherwise mostly met or beat analyst estimates, were the forward-looking statements that hurt.
$Visa (V.US)$ climbed 3%- the highest on the Dow after its earnings per share and revenue exceeded analysts' estimates. Revenue rose 12% year over year at the credit giant.
Follow moomoo news for reports from $Coinbase (COIN.US)$, $Robinhood (HOOD.US)$, $Starbucks (SBUX.US)$, and $MicroStrategy (MSTR.US)$ after the bell.
Within industries tracked by moomoo, internet stocks flew on earnings results. $Reddit (RDDT.US)$ jumped 41% after announcing a surprise profit for the past quarter, after the firm said in its recent public listing it might never turn a profit. $NerdWallet (NRDS.US)$ jumped 31% following the release of third-quarter financial results that beat estimates. $Alphabet-C (GOOG.US)$ and $Alphabet-A (GOOGL.US)$ also flew higher after beating ad revenue estimates Tuesday night.
$Crude Oil Futures(FEB5) (CLmain.US)$ climbed a bit, after starting the week with a major fall Monday following muted clapback attacks from Israel on Iran.
$Bitcoin (BTC.CC)$ hovered close to all-time highs at $71k, Gold traded at an all-time high. The $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to levels not seen since July and August.
The market climbed Wednesday, just past 12 noon ET the $S&P 500 Index (.SPX.US)$ traded up 0.26%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.47%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.21%.
In macro, ADP Nonfarm Employment came in much higher than estimated, US Core PCE prices -not the index but prices came in at 2.8%. The Fed favors index prices that will come out tomorrow. US GDP came in at 2.8% for the first Q3 reading- the same reading of the first number last quarter.
Who will win the Presidential Election, and how will it affect the market?
We want YOU to tune in live on November 5th, U.S. election day, for a special moomoo news and community event. Come watch Nov 5th at 6:30 PM ET as the vote counts roll in with our local news team and a party of guests! Subscribe: click here to join the live discussion NOW!
Yesterday, users attempted to predict the earnings results on their favorite stocks- what are you watching for this week moomoo???
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
7133Followers
641Following
19KVisitors
Follow
Coach Donnie : $Super Micro Computer (SMCI.US)$ I’m going back in at $30-$32 on SMCI. Everyone will have get their senses back tomorrow and the stock will go back up. One percenters don’t let a good storm go to waste so they are exploiting the accountant resigning. One percenters are flipping it. In my opinion.
are taking advantage of this dip in stock price SMCI.. Just my opinion. Be greedy when others are fearful. Be fearful when others are greedy.. Warren Buffett
Congratulations to those that bought. I bought a large chunk at $32.xx. It’s a short for me. I’ll probably sell at $38-$45 for a quick 30%plus profit for some FCF.
My trailing stop loss hit at $37.50. So I made $5/share on 5,000 shares for a $25k profit. If it drops to $32 again I’ll rebuy. I have done this with SMCI before the split. I learned from Richard’s play with Tesla to find chaos, execute quickly and make a quick profit. SMCI is a great company with a great products however their organizational skills internally with financials is a mess that can be exploited. SMCI doesn’t scare me because the prices has nothing to do with their products. It’s a great company that I believe will do well long term. Just my opinion. I’m just going to use it as a short for now but will go long at some point. Happy Hunting
Wall Street aliens
Super Micro Computer stock (SMCI) cratered Wednesday morning, falling over 30% after a filing revealed accounting firm Ernst & Young (EY) has resigned from its relationship with the tech company.
In the resignation letter, EY said: “We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee’s representations and to be unwilling to be associated with the financial statements prepared by management, and after concluding we can no longer provide the Audit Services in accordance with applicable law or professional obligations.”
Coach Donnie Coach Donnie : SMCI (Super Micro Computer) is considered a good investment by some analysts, thanks to its first-mover advantage in the design of GPU-based compute systems and liquid-cooled rack-level solutions. This puts it in a strong position to benefit from growing investments in AI infrastructure. In fact, Needham forecasts a revenue compound annual growth rate (CAGR) of over 55% from fiscal year 2021 to fiscal year 2026 ¹.
are recent things I read not necessarily my views.
DISCLAIMER 
Here are some key points to consider:
- *Analyst Ratings*: The average analyst target price for SMCI stock is $783.67, representing a potential upside of over 74%.
- *Growth Potential*: Argus Research is even more bullish, with a Buy rating and $1,000 price target, citing SMCI's positioning within transformational AI technology ¹.
- *Volatility*: SMCI's stock price has been volatile, with a 52-week low of $22.66 and a 52-week high of $122.90 ².
- *Industry Rank*: SMCI's industry, Computer-Storage Devices, ranks in the top 25% of Zacks Ranked Industries ².
Overall, while SMCI appears promising, it's essential to weigh the risks and potential rewards before making an investment decision.
* Above
* Q: Are there any Guarantees with Stocks ETFs or the market overall?
* A: Yes. Nothing is guaranteed.
For ANY and all aforementioned/heretofore Stocks, ETFs, side hustles or other Assets/asset classes mentioned
Remember the following:
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.
I Share Because I Care. The aforementioned is for Informational Educational & Entertainment purposes ONLY, this is NOT investment advice.
You have to do what’s best for you and yours at the end of the day. There’s NO guarantees in Investing nor Asset Accumulation.
Reach out to your Financial Advisor, CPA and or CFP.
I am not a Financial Advisor, CFP nor CPA.
Kevin Travers OP Coach Donnie : dude it cratered because its own accounting and auditing firm- the firm it needs to "ok" it's earnings results to the SEC, said that SMCI was screwed up on the inside. Not investing advice, but dude....
Coach Donnie Kevin Travers OP : Dude You think they’ll bounce back big?
Alen Kok : o
Kevin Travers OP Coach Donnie : what does super micro do?
Coach Donnie Kevin Travers OP : From their own site About Us | Supermicro
Coach Donnie Kevin Travers OP : $Super Micro Computer (SMCI.US)$ “is a global technology leader committed to delivering first-to-market innovation for Enterprise, Cloud, AI, Metaverse, and 5G Telco/Edge IT Infrastructure. We are a Rack-Scale Total IT Solutions provider that designs and builds an environmentally-friendly and energy-saving portfolio of servers, storage systems, switches, software, along with global support services.”
TheGameChanger : great job and thank you!
Adrianlim90 : 1