Stocks go up down up down up down up

The goal is SP500 to $10k!!!

:party:

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Let’s go!!!

Next up - DJIA to $40k

Looks like the best it can do is more like 0.5% today.

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Time for some profit taking anyone?

Nah, I’m a buy-and-hold forever kind of investor. Why sell and lock in profits when you know stocks are guaranteed to collapse at some point given the parabolic rise and take who knows how long to recover, and you could potentially buy in at a lower price point and then see your investment go higher and so you’ll make more money staying in, and jumping out now means you potentially lock in gains, sit in cash for a bit and earn a little something there, and don’t lose out on that?

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From cobingpilot:

On February 9, 2024 , the S&P 500 , a comprehensive index of U.S. stocks, surged above 5,000 for the first time ever . This milestone reflects Wall Street’s optimism that the Federal Reserve will soon cut interest rates . Investors believe this move will stimulate the economy by making borrowing cheaper for companies and individuals. The stock market rally has been driven primarily by technology stocks, with companies like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla continuing to outperform. While some experts downplay the significance of round-number milestones, this achievement marks a momentous occasion in the financial world123. :chart_with_upwards_trend::tada:

I got a kick out of this quote from the article:

“If you look at the history, my guess is we spend some time above 5,000, probably spend some time below 5,000,” Suttmeier says. “And I think we can actually move well beyond 5,000.”

iow, stocks go up down up down up down up.

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Wish we could operate the same way.

“The indication is probably somewhere over 0%, maybe somewhere under 0%. It could be pretty high!”

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Aaaaaaaand back below 5k in an aggressive manner

Honestly surprised, I figured a 3.1% CPI print meant … but that means spending will slow down, so the economy will slow down, which means the Fed Is Going TO CUT RATES! BUY, BUY, BUY!

stocks go up if you add an extra zero…
https://www.wsj.com/business/earnings/lyft-earnings-typo-sends-stock-soaring-9b4ad02b?mod=hp_lead_pos4

oopsie

https://archive.ph/pMCeb

putonsomeSOX

Lyft Earnings Typo Sends Stock Soaring

Release accidentally added an extra zero to a key number

By

Preetika Rana

Feb. 13, 2024 7:02 pm ET

Lyft’s goof overshadowed encouraging results. Photo: Loren Elliott/Bloomberg News

Lyft LYFT -2.18%decrease; red down pointing triangle

shares soared as much as 60% in after-hours trading Tuesday after its earnings release accidentally added an extra zero to a key profitability metric.

Lyft’s release said one of its profit margins expanded by 500 basis points. That margin had actually only expanded by 50 basis points, the company’s chief financial officer later clarified on a call with analysts.

The company’s stock soared as much as 60% when the release came out after the close of regular trading. While Lyft shares gave up most of their initial gains, they were still up around 19% in later after-hours trading.

The goof-up overshadowed otherwise encouraging results. The company forecast better-than-expected bookings for the current quarter and said it expects to be cash-flow positive in 2024. Simply put, that means Lyft will generate more cash than it spends during the year. Companies often point to this metric to signal a path to future profits.

Lyft isn’t profitable, but it has been trimming its losses. Rival

Uber

reported its first full-year of profit as a public company in 2023. Investors were encouraged by Lyft’s latest outlook because Uber also swung to profitability after becoming cash-flow positive.

Lyft has struggled to keep up with its larger competitor and its stock has lost about 85% of its value since listing in 2019.

The company’s co-founders stepped down from day-to-day management last year, following eroding market share, a sliding stock price and low employee morale.

Under its new CEO, David Risher, the company has cut hundreds of jobs, introduced new features for riders and drivers and mandated that employees return to the office.

Risher is also looking to unload businesses that aren’t generating big returns, including Lyft’s bikes division.

“As we move in 2024, we have a foot on the pedal,” Risher said on the analyst call Tuesday.

The company said it would file an updated release—with one less zero this time.

Write to Preetika Rana at preetika.rana@wsj.com

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layoffs incoming at Lyft

Just remove a 0 from your employee count, layoffs averted

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Looks like we get to play this game again perhaps.

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I see $5,000.62 at closing

We back fam!

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Briefly dipped below 5k. Which just means one more chance to smash back through it, I guess.

Everyone take your “S&P 5000” hats off.

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My largest combined balance which is in Vanguard has been ticking around between $399,300 and $399,800 today.

I’m already above this given other services in which we’ve money, but I’ve never seen $400,000 in a single balance before. Really want to see it today!

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Throw $2,000 in now, just to make extra sure.

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Meanwhile, in Japan, they’re going to party like it’s 1989.

Record Japan Profits Show Nikkei Is Primed for All-Time High

Lessons From a Three-Decade-Long Stock Market Disaster

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