📈 Tiktok's "Infinite Money Glitch" Backfires

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Good Morning!

Bitcoin races toward an all-time high ahead of the U.S. election, Google’s stock jumps on strong cloud earnings, and we spotlight an undervalued stock you may regret missing down the line. Plus, JPMorgan Chase cracks down on TikTok's viral ATM glitch, and a look at big movers like Reddit, Snap, and PayPal.

Grab your cappucino and let's get into it! ☕️👇️

Markets

⛏️ Bitcoin Nears ATH Ahead of US Election
Bitcoin surged past $73,500 early Wednesday, edging close to its all-time high as traders bet on crypto-friendly policies potentially emerging from the U.S. election. Markets seem to be pricing in a possible win for Donald Trump, a known advocate for digital assets, which has fueled optimism among crypto enthusiasts. With the election just days away on November 5, Bitcoin's rally is a bet on supportive regulations ahead.

🔍️ Google jumps 5.8% on strong earnings
Alphabet kicked off tech earnings week with a bang, as shares jumped 5.8% in after-hours trading Tuesday. The boost came after impressive growth in Google Cloud's revenue and margins, driven by AI advancements. Analyst Ralph Schackart thinks that Alphabet's AI leadership is fueling new and expanded cloud deals, with product adoption up 30% among current customers, showcasing the impact of its broad AI portfolio.

📈 A Few Years From Now, You'll Wish You Had Bought This Undervalued Stock
This stock has struggled over the past five years, losing money for its investors, but it now has potential as a value play. While some investors chase growth stocks for rapid revenue and earnings gains, others lean toward value stocks, betting on improving fundamentals to drive returns. This stock fits the bill, trading at a compelling valuation that could see gains if the market outlook brightens.

🏦 TikTok’s ‘Infinite Money Glitch’ Comes Back to Bite
JPMorgan Chase is suing multiple account holders after a viral ATM glitch, shared on TikTok, led people to exploit the error, stealing hundreds of thousands of dollars. The bank aims to recover losses following this widespread misuse.

Big Movers

• Reddit shares surge 22%, hit all-time highs

• Snap stock jumps 9% on Q3 results beat

• PayPal shares fall on revenue miss, soft guidance

Why this bull market feels 'weird'

In a recent Yahoo Finance article, Jared Blikre unpacks why today’s bull market feels “weird” despite strong economic signs. This week’s data, including GDP, the Fed’s preferred inflation gauge, and a jobs report, are expected to reinforce the narrative of a soft landing.

Yet the market doesn’t exactly feel steady, thanks to factors like Big Tech earnings swings, weather-driven data disruptions, and the approach of the U.S. election. Adding to this unusual landscape, the Nasdaq Composite closed at its 28th record high of the year.

Ritholtz Wealth Management's Callie Cox describes it as a “weird bull market” and admits to being puzzled by its unexpected dynamics. Historically, bull markets are led by small-cap stocks, yet in 2023, small-cap indexes like the Russell 2000 have been sinking, while megacaps charge ahead.

This unusual pattern underscores the ways in which this bull market defies expectations set over the past four decades.

The apparent mismatch between market behavior and economic indicators reflects the unique “pandemic expansion,” which began after the economy's restart following the 2020 lockdowns. Now entering its fourth year, this bull cycle is relatively young but out of sync with prior norms, leaving even seasoned investors wondering what’s next.

Keep This Gold Stock on your Watchlist 🇨🇦 $ESAU 🇺🇸 $SEKZF

• Gold prices hit an all-time high

• ESGold stock is up over 50% this month

• Committed to eco-friendly mining practices

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Disclaimer: This ad is paid for and disseminated on behalf of ESGold Corp (it is sponsored content). We do not own any securities of ESGold Corp. This ad contains forward-looking statements, which are not historical facts. These statements are based on the current beliefs and expectations of ESGold Corp’s management and involve known and unknown risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions often identify forward-looking statements. This is not financial advice, please do your own DD. See SEDAR+ for more information.

Our Recommendations:

💻️ MEXC - Where we find and trade Crypto with low fees.
📈 TradingView - Software we use to chart stocks.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.

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