To The Moon

Recent resurgence of $Faraday Future Intelligent Electric Inc.(FFIE)$  and $AMC Entertainment(AMC)$   have done little to alleviate worries over the companies' viability as going concerns. Despite lack of positive news or fundamental changes that would justify their rallies, the two companies have benefited from spill-over effects from the meme frenzies re-ignited by Roaring Kitty since May, that has lent helping hands to lift the stocks of Faraday Future and AMC that have been otherwise plagued by deteriorating fundamentals and weak demands. I believe that the meme frenzies are unsustainable and their stock prices will resume their declines after the euphoria subsides and reality returns to bring their stock prices back to terms with their fundamentals.

Artificial intelligence has been the talk of the town with the AI hype led by $NVIDIA Corp(NVDA)$   propelling the AI chip maker in overtaking Microsoft and Apple to top in market capitalization for the first time this week. As companies rush to deploy AI to digitize their businesses, automate their operations, improve productivity and enhance their product offerings, Nivida's AI chips are highly sought after worldwide despite their hefty prices. With the growing demands for semiconductor chips to drive the AI engines, I'm optimistic that the overall semiconductor industry $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$   is poised for further upside and will have more legs to run.

Bitcoin price has been struggling to regain the $70,000 level as the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market and triggered an outflow from the highly speculative digital assets. Their roller-coaster swings in prices serve as a timely reminder of the volatility of the cryptocurrency market that is in need of a new catalyst for the next phase of bull run. The highly anticipated launches of etherium spot ETFs may just provide the stimulus in the coming months. When that materializes, being the largest US-listed cryptocurrency exchange, $Coinbase Global, Inc.(COIN)$  may again be riding the crypto wave to new heights as trading enthusiasm returns and fill its coffer from trading and custody fees.

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