Anyone here old enough to remember CMGI? I am, and I do. It was one of the hottest stocks on the planet back in 1999, making new highs every day and becoming a global trading sensation. Once reality began to rudely worm its way back into life, people joked the symbol stood for Can’t Make Good Investments. I think they went to $0. Anyway, SMCI is our new CMGI, and even with the news that it’s being shoved into the S&P 500, pre-market trading still hasn’t beat its high. We’ll see.
In fact, semis across the board continue to puke to increasingly obscene levels with no sign of slowing. The king of kings, and a company I wouldn’t mind never hearing about again, is Nvidia, which surely has $900 earmarked as its next obvious goal. Do you realize NVDA is currently worth $7,000 for every man, woman, and child in the United States? Just sayin’.
Interestingly, with semis jizzing all over the side of the barn this morning, NQ is actually in the red. Huh.
Finally, Tesla seems to be a mass of wet kindling. I’ve been pointing out for weeks now how vulnerable TSLA is, and no matter how hot the blowtorch gets, the kindling is just still popping and hissing, but never lighting.
