Good buys or goodbye?

Cryptocurrencies staged a rebound in the latter part of this week, after suffering steep plunges on Monday with disappointing employment data that triggered fear of a recession. Worries that the rate hiking cycle is resulting in a hard landing of the economy has led to selloff of risky assets, including $Coinbase Global, Inc.(COIN)$  , the largest listed cryptocurrency exchange. Nevertheless, expectations of rate cuts next month should help to calm the knee-jerk market reaction to the employment data and lead to recovery of trading of risky asset like cryptocurrencies, driving up trading volumes for Coinbase.

Likewise, I believe that earlier sell-off in the technology industry and especially the semiconductor sector has been overdone, as strong demands remain for artificial intelligence chips to drive operation productivity and propel business growth. As modern lives are increasingly dependent on semiconductors to drive automation and digitization, I remain optimistic of the long-term prospects of the semiconductor industry $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$  and believe that the recent falls present buying opportunities that I would take advantage of to increase my exposure to the growing sector.

$Faraday Future Intelligent Electric Inc.(FFIE)$  has won shareholders' approval on the proposed shares consolidation up to 1-for-40 outstanding shares in a bid to boost its stock price to comply with NASDAQ's requirements in order to maintain its listing. However, short of any turnaround strategy, I remain doubtful that any shares consolidation will save the struggling EV maker amid its deteriorating fundamentals and sluggish demands for its pricey vehicles. In fact, I continue to doubt its ability to remain a going concern even after the reverse stock split. Hence, I doubt that the forthcoming shares consolidation is going to save the day, and I believe it will merely prolong the pain. Its peer $Rivian Automotive, Inc.(RIVN)$  has been in the limelight since the EV maker disclosed that Volkswagen would invest up to $5 billion in a new joint venture. News of fresh capital has allayed concerns over Rivian’s cash flow to support the development of its next-generation vehicles. and it may be time to relook at this once-darling of the EV industry before it goes up up and away.

$AMC Entertainment(AMC)$   has posted weakness in its latest quarterly earnings, blaming that last year's actors and writers strike for a slowdown in theatrical releases has led to earnings and profits in the quarter ended June 30 to fall. Despite returning crowds to its theatres post-COVID pandemic measures and releases of blockbuster movies, AMC has yet to renew its growth, as the largest cinema chain in United States struggles to remain relevant post pandemic and stay competitive amidst rising popularity of online streaming services by the likes of Netflix and Disney, that has threatened the relevance of physical theatres. AMC will need to continue to reinvent itself to stay competitive and remain relevant in the new normal post pandemic that has changed forever the way many people would watch movies.