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Remember Intuitive Machines? That’s the oddly-named company that created a lunar lander (with the appropriate ticker symbol LUNR) that sort-of kind-of landed (well, semi-crashed) on the moon a few months ago. As you can see, it’s worth about one-third of what it was during the excitement of the landing. It’s easy to get caught up in story stocks without any real basis in business.
It’s tough to get excited about the weakness in /RTY this morning, since just yesterday at this time (see red circle) the /RTY was getting demolished, and then For Some Mysterious Reason (cough, D.C., cough cough) the market got gobbled up, pushing the SPY and QQQ to highs never seen before. It hardly matters anyway, since today will probably be a nose-picking holding pattern as the all-important CPI and Fed events tomorrow morning.
I did a little experiment with a spreadsheet this evening that I wanted to share. It has to do with this carnival barker – Roaring Kitty – who has dragged his willing acolytes into GameStop positions, most of which are showing terrible losses.
