BUZZ Investing: U.S. Stocks Rally As Nvidia Climbs Higher

seekingalpha06-26

U.S. domestic markets experienced significant gains during the recent period between Index selection dates (May 9, 2024 – June 12, 2024).The BUZZ Index returned 5.37% during the month of May compared ...

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jobs and CPI reports, boosting investor confidence. Nvidia led the gains, soaring over 41% thanks to strong earnings and a stock split announcement. U.S. domestic markets experienced significant gains during the recent period between Index selection dates (May 9, 2024 - June 12, 2024, the \"Period\"). Equity markets rallied following a weaker-than-expected jobs report and a softer CPI report. The April CPI report released on May 15th showed a year-over-year gain of 3.4%, lower than the previous month, reinforcing hopes that inflation was being effectively controlled. These factors combined created a bullish environment for stocks, as investors anticipated a more accommodative monetary policy. The bond market gained, highlighted by 2-year treasury note yields, which fell by 7 bps, closing the Period at a yield of 4.75%. The BUZZ NextGen AI US Sentiment Leaders Index (the \"BUZZ Index\") gained 4.5% during the Period. The BUZZ Index returned 5.37% during the month of May compared to a return of 4.96% for the S&P 500 Index during the same period. Year-to-date, the BUZZ Index slightly lags the S&P 500 with returns of 11.07% and 11.30%, respectively, as of the end of May. Shares of NVIDIA Pace Advancing Stocks within the BUZZ Index Shares of NVIDIA Corporation (NVDA) led advancers within the BUZZ Index, soaring over 41% during the recent Period and pushing its market capitalization past $3 trillion. This surge followed the company's May 22nd earnings report, which exceeded expectations. Nvidia posted a record Q1 2024 revenue of $26.0 billion, up 262% year-over-year and 18% from the previous quarter, driven by a 427% increase in its data center segment revenue to $22.6 billion due to strong demand for AI and high-performance computing solutions. Additionally, Nvidia's announcement of a 10-for-1 stock split, aimed to improve liquidity and make Nvidia's shares more affordable to retail investors, was well received as investors continued to cheer the company's strong market position and growth potential. Shares of Robinhood Markets (HOOD) contributed to BUZZ Index gains, surging 37% during the Period as investor interest in meme stocks was reignited. This resurgence followed Keith Gill, also known as \"Roaring Kitty,\" posting on X for the first time since the peak of the 2021 meme stock frenzy. His posts about GameStop (GME) sparked a dramatic rally in the stock and revived the perception that social media-driven retail trading might be making a comeback. Top BUZZ Index Contributors: May 9, 2024 - June 12, 2024   Company Ticker Average Weight (%) Return Contribution (%)   NVIDIA Corp NVDA 3.50 1.24   Robinhood Markets Inc HOOD 3.17 1.02   MicroStrategy Inc MSTR 3.50 0.74   Coinbase Global Inc COIN 3.08 0.66   Apple Inc AAPL 3.10 0.47   Rivian Automotive Inc RIVN 2.45 0.39   Palantir Technologies Inc PLTR 2.99 0.37   Micron Technology Inc MU 1.25 0.32   Meta Platforms Inc META 2.92 0.21   Microsoft Corp MSFT 2.53 0.17   Click to enlarge Source: BUZZ Holdings ULC, Bloomberg. Past performance is no guarantee of future results. Index performance is not illustrative of fund performance. Not intended as a recommendation to buy or to sell any of the securities mentioned herein. Trump Media & Technology Group Corp (DJT) was the top detractor to BUZZ Index performance during the Period. Several key factors may have contributed to its share price's recent decline, including recently revised financial statements, which uncovered financial inconsistencies after a re-audit by a new firm. At the same time, the company reported significant net losses for 2023, exacerbating worries about its financial stability. Finally, the conviction of former President Donald Trump in a hush money trial may have further damaged investor confidence. Shares of Paramount Global (PARA) detracted from BUZZ Index performance after Shari Redstone's National Amusements ended talks with Skydance Media for a controlling stake due to failing to reach acceptable terms. This development is the latest in a prolonged saga for control of Paramount, known for its extensive portfolio of television networks, film studios, and streaming services. Bottom BUZZ Index Contributors: May 9, 2024 - June 12, 2024   Company Ticker Average Weight (%) Return Contribution (%)   Trump Media Tech Group DJT 2.00 -0.61   Paramount Global PARA 2.86 -0.47   Viking Therapeutics Inc VKTX 0.82 -0.38   Celsius Holdings Inc CELH 0.93 -0.25   Snowflake Inc SNOW 1.14 -0.16   Super Micro Computer Inc SMCI 2.99 -0.14   Carvana Co CVNA 1.61 -0.14   DraftKings Inc DKNG 1.15 -0.14   Block Inc SQ 0.98 -0.13   Lululemon Athletica Inc LULU 0.68 -0.10   Click to enlarge Source: BUZZ Holdings ULC, Bloomberg. Past performance is no guarantee of future results. Index performance is not illustrative of fund performance. Not intended as a recommendation to buy or to sell any of the securities mentioned herein. BUZZ Index June 2024 Rebalance Highlights Unity Software Inc Unity Software Inc. (U) is the creator of the Unity Engine, one of the most widely used design platforms in the game development industry. The Unity kit allows less-specialized developers to create complex content, ranging from mobile apps to full-scale 3D games. It was the emergence of the iPhone in 2007 that helped propel the company to dominance, as the ease with which apps could be created with Unity's engine was unparalleled. By 2012, it was estimated that half of mobile game developers were using Unity. Despite Unity's market dominance, the company has made repeated blunders since its IPO in 2020, culminating in its disastrous decision last year to charge developers based on the number of installations of their software. The backlash was severe and greatly damaged Unity's reputation, resulting in their former CEO stepping down and a round of layoffs. Last month, Unity announced a new permanent CEO and proposed \"resetting\" the company in an attempt to rebuild. The stock, down 60% YTD, may be becoming increasingly attractive from a value perspective, while positive investor sentiment jumped following the company's management reshuffle. This month, U is the largest addition in the BUZZ Index, with a maximum 3% weight. On Holding AG This month, the BUZZ Index features a first-time entrant, On Holding AG (ONON), makers of the On-branded line of running shoes. Founded by competitive runner Olivier Bernhard in 2010, the Swiss brand quickly gained credibility, with its shoes being adopted by many of the country's top athletes. Within a decade, On captured almost half of Swiss running shoe market share. As word of the shoe's performance spread, the company expanded internationally, evolving into a lifestyle brand and collaborating with fashion designers. The onboarding of Roger Federer as a shareholder and face of the company in 2019 catapulted On's popularity, and the company eventually went public in 2021. Shares of ONON are up 50% so far this year as the brand continues to gain momentum in the US, and sentiment has also been on the rise. ONON joins the BUZZ Index this month with a 0.49% weight. Important Disclosures Company data is the source for all particular company information quoted. Definitions: The S&P 500 is a stock market index of 500 of the largest companies listed on stock exchanges in the United States. The Nasdaq Composite Index is a stock market index that consists of the stocks that are listed on the Nasdaq stock exchange. U.S. Treasury Bond Current 2-Year Index is a one-security index comprising the most recently issued 2-year U.S. Treasury note or bond. U.S. Treasury Bond Current 5-Year Index is a one-security index comprising the most recently issued 5-year U.S. Treasury note or bond. Markit CDX North America High Yield Index represents one hundred liquid North American entities with high yield credit ratings as published by Markit. COBE VIX Index is a real-time market index representing the market's expectations for volatility over the coming 30 days. This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. 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Results reflect the reinvestment of dividends and capital gains, if any. Certain indices may take into account withholding taxes. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown. BUZZ NextGen AI US Sentiment Leaders Index (the \"BUZZ Index\") is a product of BUZZ Holdings ULC (\"BUZZ Holdings\"), and has been licensed to VanEck Associates Corporation for use in connection with the VanEck Social Sentiment ETF. \"BUZZ\" is a trademark of BUZZ Holdings, which has been licensed by VanEck Associates Corporation for use in connection with the BUZZ Index. VanEck Social Sentiment ETF is not sponsored, endorsed, sold or promoted by BUZZ Holdings, or its shareholders, or the licensor of the BUZZ Index and/or its affiliates and third party licensors. BUZZ Holdings makes no representation or warranty, express or implied, to the owners of the VanEck Social Sentiment ETF or any member of the public regarding the advisability of investing in securities generally or in VanEck Social Sentiment ETF, particularly or the ability of the BUZZ Index to track general market performance. BUZZ Holdings' only relationship to VanEck Associates Corporation with respect to the BUZZ Index is the licensing of the BUZZ Index and certain trademarks of BUZZ Holdings. The BUZZ Holdings are determined and composed by BUZZ Holdings without regard to VanEck Associates Corporation or the VanEck Social Sentiment ETF. BUZZ Holdings has no obligation to take the needs of VanEck Associates Corporation or the owners of VanEck Social Sentiment ETF into consideration in determining and composing the BUZZ Index. BUZZ Holdings are not responsible for and have not participated in the determination of the prices of VanEck Social Sentiment ETF or the timing of the issuance or sale of securities of VanEck Social Sentiment ETF or in the determination or calculation of the equation by which VanEck Social Sentiment ETF securities may be converted into cash, surrendered, or redeemed, as the case may be. BUZZ Holdings have no obligation or liability in connection with the administration, marketing or trading of VanEck Social Sentiment ETF. There is no assurance that investment products based on the BUZZ Index will accurately track index performance or provide positive investment returns. BUZZ Holdings is not an investment advisor and the inclusion of a security in the BUZZ Index is not a recommendation by BUZZ Holdings to buy, sell, or hold such security, nor should it be considered investment advice. BUZZ HOLDINGS DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE BUZZ INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS). BUZZ HOLDINGS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. BUZZ HOLDINGS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VanEck Associates Corporation, OWNERS OF THE VanEck Social Sentiment ETF, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BUZZ INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL BUZZ HOLDINGS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN BUZZ HOLDINGS AND VanEck Associates Corporation, OTHER THAN THE LICENSORS OF BUZZ ;HOLDINGS. Effective August 18, 2016, BUZZ Indexes Inc. implemented changes to the BUZZ NextGen AI US Sentiment Leaders Index construction rules. The index constituent count was increased from 25 to 75 stocks and the maximum constituent weight was reduce from 15% to 3%. These change may result in more a diversified exposure to index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results. 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VanEck®, VanEck Access the opportunities®, and the stylized VanEck design® are trademarks of VanEck Associates Corporation.  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