Palantir Popped & Dropped

Tale of the Tape

Good afternoon, folks. We hope you had a wonderful Thanksgiving. This week is a wrap.

The market of stocks was green in today’s short session. The Nasdaq Composite led and closed at a new all-time high. The S&P 500 also closed at its highest price ever, same as the small-caps.

Healthcare was the strongest sector. $XLV gained just under 1%. Energy lagged today, but it was the strongest sector this week. So there’s that.

Bitcoin broke down -8% on Turkey Day. We hope it’ll be ok.

Palantir popped and dropped. See more on this psycho stock below. chugged higher. The online pet product retailer ripped 7% and closed at an all-time high.  

Tesla ticked another record high. How much juice is left in the tank? Place your bets…

Here are the closing prints: 

S&P 5003,638+0.25%
Russell 20001,855+0.56%
Dow Jones29,910+0.13%

Palantir Popped & Dropped

Palantir popped and dropped in today’s short session. The stock gapped up and ticked a high of 33.5, then tumbled to close at 27.51, 1.39 off its intraday low.

$PLTRs daily range was 33.50 – 26.12.

And here’s the wild 1-minute chart:

Despite today’s whipsaw, Palantir had its best week as a public company. Since its IPO the stock is up 199%. In that time, its market cap has ballooned from $16.4B to $47.5B. Damn.

Check out the daily chart:

Here’s Bloomberg with more.

Weekly Charts

Every major index closed at a new weekly all-time high. 

Here’s the weekly chart of the Nasdaq Composite:

And the Russell 2000:

Energy closed at its highest weekly price since mid-June. Here’s the XLE weekly chart: 

Tesla ran 19% for the second consecutive week. This stock is a certified freak. Since October 24, 2019 ($TSLA Q3 2019 Earnings), it’s up 880%. Wowza. 

Bitcoin Broke 🔻

Bitcoin tumbled over 10% since Tuesday. The crypto freaks were freaking out on Turkey Day, but everyone knows crypto trades on crack.

Bitcoin’s volatility is wild and it’s been like that since the beginning. Brian Shannon shared this about $BTC.X back in 2013:

Perhaps one of the most surprising stories of 2013 was the meteoric rise in the value of bitcoin. Starting the year at $13.50, bitcoin saw a year high of $1242! Of course, if you followed the action throughout the year then you know it is incredibly volatile. In fact, after the high of $1242, the price plummeted to $455 in just 14 days before staging a recovery rally which brought it back to $800 to close the year out.

Here’s the weekly chart:

So far, $BTC.X held last week’s low. Who knows where it’ll go. 🤷‍♂️

Shopping > Turkey

U.S. online sales hit $5.1B yesterday…that’s up 21.5% from last year. Woah. 

This weekend, Black Friday and Cyber Monday sales are expected to reach between $8.9B and $10.6B. 

But, while the numbers look huge, analysts say total sales fell short of original projections. Taylor Schreiner of Adobe Digital Insights said: 

While yesterday was a record-breaking Thanksgiving Day with over $5 billion spent online, it didn’t come with the kind of aggressive growth rate we’ve seen with the start of the pandemic. 

Here’s TechCrunch with more. Where are you shopping today?💰 

Be Water, My Friend

Happy birthday, Bruce Lee! 🥳 

Today would have been the action hero’s 80th birthday. But now, we recognize him for even more than just his iconic stunts.

Bruce Lee broke barriers.

Here’s a photo of Bruce Lee with Kareem Abdul Jabbar:

If you need holiday reading material, Bruce Lee’s daughter Shannon Lee wrote a beautiful book: Be Water, My Friend: The Teachings of Bruce Lee. It’s a really good read. 👏

Links That Don’t Suck

👀 Black Friday Sale: Snag an IBD Digital membership for the lowest price of the year—only $8 for 8 weeks.*

🏞 Reuters Environment Photos of the Year

♻️ VR Will Make Car Design More Sustainable Says Thierry Métroz

🦃 Proclamation of Thanksgiving – Crossing Wall Street

😷 Coronavirus WSJ Updates: US Hospitalizations Top 90,000 for First Time

🗺 How Holiday Spending Compares Around the World

🇸🇬 Billionaire Ray Dalio Set to Open Family Office in Singapore