 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN Wednesday morning, 9.06 a.m., two more trading days until Christmas folks closed on Friday with the markets for Christmas Eve, Christmas falls on a Saturday this year, markets right now, give them back some of the gains. It's been quite an acceleration. You're up to a high. I got things on a one minute. Let me put it on a 15 minute for some context in the S&P. Monday, you trade down to a low of 45, 20. We are now 113 points above that price level, folks, in the S&P's quite a two days clawing back those losses. You're now about 110 points away from all-time highs in the S&P. You're talking about basically 2% from all-time highs, negative six points right now in the session, NASDAQ 100, negative by about 25 points. Boy, you talk about some volatility. From last week, you trade down a thousand points and now we've gotten back about 500 points from that low. We were down at 15,492. This morning, you're negative by 23 points. All the markets pretty much unchanged. When you look at the NASDAQ 100, about 110% S&P's 110% in red. Dow 110% in the red as well as the Russell 2000. Crude, sitting at about 71.14 this morning. We usually talk to our man, Teddy Kegstad every Wednesday at 40 past the hour. He's traveling this week so we're not going to get a chance to talk to him. He did send over an email with a couple thoughts. We'll go over some of his thoughts that he has for the market in a bit. You got the gold contract this morning. Up $6 at $17.95 last Friday, gold was at $18.15. Slightly off those levels but positive by $6 on the session and we jumped to notes and bonds. A little bit of a reversal of the lower price, higher yield action. You see the move. Just for Monday, you were at $131.19. You trade down more than a full point to $137.00. Right now though, you're positive by about 7 ticks. You're talking about a yield right now of 1.45%, between about 1.45, 1.46%. The yield on the 10-year. Let's jump around to some of the fang stocks. See how they're kicking things off. It's going to be a pretty calm market. Man, the moves yesterday though, pretty remarkable. Amazon shares this morning going to be down about 10 or 15 bucks as they look to open. Apple shares this morning, yeah, call it basically flat with a bid ask spanning the close from yesterday, Microsoft shares right now, yeah, basically flat on all of them. We jumped to Tesla. So Mr. Elon Musk selling more shares but he says he's done selling shares and the market likes that. Market up to about from 940 to 970, you're up about 3% right now. All things considered folks, he sold the shares. He said that he was going to sell and yes, you just traded from 1243 down to 938. But all things considered, you're opening at 975. I would say that got handled pretty well. You back things up on a daily just for some context of net of the run now really remarkable that you almost made it to that 618. You closed the entire gap that it left it back there in October. You ran from August a price level of about 651. They almost doubled the price in that timeframe up to 1243. Volatility ensued from there and we reset things at about 971 this morning and you did fill that entire gap on a daily basis that you got back to October 22nd when this thing really skyrocketed higher. And jumping over, let's jump over to the articles talking about our man Elon Musk. Musk says he sold enough stock to unwind 10% of his stake, the latest official filing, total disposals 14.1 billion. Quite a price for that and I mean, it'll go down folks. This run that Elon has had, you put it on a three year weekly. This thing had a value of $35 post-split. I mean, you just had a company run from 35 to 1243 bucks. Was that a 40 bagger in the span of about two years? Yeah, that'll rise you up the chain of the wealthiest people in the world pretty quickly. Not sure we've seen a wealth built that quickly in our time folks, remarkable. So I sold stock that should roughly make my total Tesla roughly two times roughly, ten times he told satirical website Babylon B, maybe that's for the two times. He's been unloading it. Now they say here that he actually ends up with more shares than he did because he's exercised options. I don't think that's a fair representation though because those options were always around representing how many shares he could control. Yeah, so he sold yet more 528 million total, around 13.5 million shares for $14 billion. His net worth 244.9 billion. You know, it's amusing. I was listening to on Sirius XM recently just their hits one station, just their basic generic hits channel and I just prefer music and their main hits channel has like a morning show routine. And so they're talking about Elon Musk and this is like a month ago or something. They're talking about his wealth and just, I mean, and it's not a fault to them because you shouldn't keep track of Elon Musk's wealth. There's better things to do in life folks. But they were talking about how much is worth and they all didn't really have an idea how much he's worth. They knew he was one of the wealthiest people in the world with Bezos. And the guy who chimed in said it's about a hundred billion, said it's a hundred billion dollars. He's worth a hundred billion dollars. And everyone goes, oh my goodness, a hundred billion dollars. I said, no, it's around like a hundred billion dollars. Well, he's got to update those total folks because it's about 250 billion dollars. Just how fantastical that number is. Pretty remarkable. It's just it's incomprehensible basically because a hundred billion is almost the same as 250 billion because to comprehend the value of a billion dollars is hard enough. All right, let's jump around to some of the stocks we got moving. We have some companies with their numbers. You got CarMax, trading higher the car market. They beat estimates on the top and bottom line as well as posting comp dealer sales that were above the forecast. Man these companies, right? KMX going back three years. You down to 37 bucks during COVID. You put this back on a daily just encompass even this year. You come into 2020, man. You accelerate right out of the gate at 94 bucks. You trade at 137 going into the close yesterday. You're going to open at about 141 right now. You've only been above that area for about a month or two back in CarMax as they continue to deliver. We talked about Tesla over there. Blackberries out with their numbers, breakeven quarter on an adjusted basis. Market was looking for seven cents a share. Blackberries still around. Communication software makers is what they are now. Revenue beat estimates, strong demand for cybersecurity products. BB is their symbol. Talk about trying to reinvent yourself, folks. There's some volatility for you, man. You're going to open down about 20 cents. You want some. And there's what happens if you don't keep up with technology, folks. This thing took over the world. I remember my dad had a blackberry for a while at one point. He loved it. He traded from 21 bucks up to 148. And the sky just kind of fell out from them. As the world changed, they didn't keep up. The world went to full screen phones, right? Without a keypad. They tried to cling on to that differentiating factor. That was a monumental mistake. They tried to make the shift too late. And talk about a dead cat bounce there. From the beginning of 2009 from 33 bucks up to over 80. And then basically you trade back to eight bucks since then. And you've been chopping around to the single digits almost since that time. Back to this year when you look at blackberry. Not so much single digits, man, but be careful of this one, folks. Up to 28 bucks. Up to 20 bucks. Up to 1250. And you're going to open down about 20 cents on their numbers last night for blackberry. All right, folks. Stay tuned. We'll be coming back. We'll be talking to our man, Kevin Hinks from TD Ameritrade Fast Market. He'll be coming up after the break. We got the S&Ps. Negative by five right now. The NASDAQ. Negative by 29. We got two days of trading left until Christmas, folks. And what's that put it for the year? That puts it seven trading days left for the entire calendar year. Stay tuned, folks. We'll be right back. Everything in the universe is governed by the Fibonacci sequence. 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You have Crude sitting right at about $71, quite the plunge down to $66.12 right there. You're talking about $5 moves in both directions, folks. The one thing that I'm taking away from this market right now is that we got a two-way market going on. The type of volatility we're getting, folks, when you look at just the run we had since November 26th, I don't have to point out. These bars on the S&P, we have a lower level of $4,500. We have an upper level of about $4,700. You're talking about 200 points in there and you have bars that are stretching. Yes, the day after Thanksgiving was the biggest of them all almost. We had a high of $4,717, a low of $4,579. You're talking about almost 140 S&P points, but man, a couple of days after that, high to low, you're talking about 110 points. She's a couple of days after that, you're talking about 150, December 7th, you're talking about a low to high of 110 points. Just yesterday, you're talking about a low to high of 90 S&P points. We jump over to the VIX right now, the Vell Volatility Index sitting at about 21. Not that bad with the type of volatility that really you are getting. I just pulled it up. You got 2% moves across the board on the S&P on many, many days. We get seven trading days left until the end of 2021. All right, jumping around to what else we have going on. So the news out there, 80% lower risk of hospitalization. New study talking about the Ombracon variant. Now this is having to do in South Africa. I believe, let's say yes, South Africans contracting COVID-19 in the current fourth wave of the infections, 80% less likely to be hospitalized if they catch the variant compared to other strains. There's a lot of variables in play there when you talk about one population versus another. Unfortunately, South Africans, not as obese, that comes into things just to kind of point out along with many, many other quality of life, quality of care, et cetera, et cetera. But nonetheless, looks to be encouraging news in terms of hospitalizations. Man, this thing looks pretty contagious to put it lightly, but thankfully doesn't seem to be as serious, especially if you are vaccinated. Once admitted to the hospital, the risk of severe disease doesn't differ, though, from other variants. So you end up in the hospital and you're one of the unlucky few that that happens to similar prognosis to other variants. Compared to Delta infections in South Africa between April and November, Ombracon associated with a 70% low risk of severe disease, that data collected for the two months through November. So encouraging news there, and that seems to be what's driving this market. Since it had its first reaction following Thanksgiving, the market's just been trying to digest the fact that we have a faster spreading variant, which will cause some pullback spokes. I mean, you're going to see it. I was listening to Bloomberg earlier this morning and one of the people they had gone on there was talking about, listen, even if you don't have shutdowns, right? You're going to have cases and in situations where you have cases, you're not going to be able to go to work if you have an active case of COVID. If these things are spreading, that will impact the economy in some degree. Thankfully it doesn't look like we're going to shut downs even in areas of the country where we had shut down in terms of here in New York out there, right? Saying it. President Biden saying the same thing, okay, shutdowns. It's not going to be happening. At least not right now. I mean, thankfully we don't have a variant that's spreading like Omercron is that's more severe, which totally could have been possible. So nothing's out of the question, but in terms of marching into the end of the year, we talked to our man, Kevin Hicks yesterday, as he was saying it, the data lines up pretty strong numbers across the board right now carrying this economy. You cannot deny the numbers in terms of the earnings across the board. It's strong, strong numbers continuing. We said, calm acts today. Even in an industry where it looks like car prices, maybe one of the best years yet, keeping up with the acceleration that they have had. All right, let's jump around to some of the travel stocks. It's been interesting that in light of everything going on, now you do back things up to early November, seems like the travel stocks got ahead of what was happening there. You did have the jump lower in terms of that gap. I talked about it yesterday. All the travel stocks still well below where you were on November 24th. But you think about this Omercron variant, right? And the shutdowns it's potentially having. Now, Kevin Hicks again, brought up yesterday. The travel numbers within the continental US flying yesterday, maybe not within continental, the people flying through airports, huge, huge numbers. So the numbers of people flying showing some strength in there. But I'm surprised that you only got these airlines trained from 1915 to 1812. Because it seems like before Omercron that they would have been in a better position than they are now, and you're only a buck off those levels. Maybe the airlines just kind of sitting at a Max Payne situation waiting for any type of a bid man. You're at 1812, you've been up to 26 bucks twice this year. So you're solid eight bucks off of the highs that you made a couple occasions ago, let alone we were just six weeks ago trading at 22 bucks. So you're talking about, what is that, a 20% haircut over the last six weeks in these equities. But it kind of speaks to strength. With everything else going on, you have these airlines not too bad from where you were when that variant first started surging. Putting Delta, for instance, back on a daily. You came into that Thanksgiving at a price of about $39.75. Again, Delta is trading at $38.52. You were down to $33.40. Let's jump to United. United shares makes that gap away on November 24th at about $46. You're trading at about $44 this morning. You jump domestically, see how they're doing. They've gotten it all back, which would make more sense. Remarkable, they're actually above the price point. That probably having to do with those numbers, man. Look at JetBlue yesterday charging higher up to $14.52. A lot of the airlines, travel stocks in particular, really charging higher. JetBlue, I wanted to talk about Southwest real quick. Southwest, different story, man. They, I think they got a downgrade recently, potentially. But you back things up. I mean, they were at $46 actually. So Southwest, the one anomaly there, shown some weakness versus the whole industry. When you have Southwest, $6, you have Southwest 15% off of where it was trading prior to the Omicron variant. Probably more going on with that airline than anything else when the other airlines aren't as impacted. Jump over to the cruise ships. Similar story, right? Remarkable with the Omicron variant. You got Carnival, charging higher the last couple of days. You're actually above where we came into that. But man, it had quite a slide from 25 bucks down to 20 before Omicron even varied. Seems like some of these travel stocks, people, the brightest people out there, maybe that were paying attention to Omicron before the whole world found out, these travel stocks, they all traded a little bit lower, coming into when the world woke up to those numbers. I mean, look at Norwegian. Norwegian, November 5th at 29 bucks. You come into that Thanksgiving at 22. Look at that slide coming into the world, waking up to the Omicron variant over Thanksgiving. You jumped to even other companies like Airbnb. Quite a pop of the last couple of days. This company's pulled back from 210. Last couple of days, you're up 10%. Folks, 10% from 150 to 165. You gained 15 bucks over the last couple of days for Airbnb. Even stocks that I like, Disney got an acceleration higher. But boy, this stock, I mean, look at where we were again. November 10th, let alone where we were November 24th, we're just kind of basically right back to that price level on Disney. Uber's really accelerated higher in the last few days, few weeks. You pull back to 35 since then, you're up to 42 bucks. You've gained seven bucks. You've gained about 20% in the price of Uber shares over the last eight days. That's some volatility for you in a big way. All right, these markets just waiting for the open. You see the chart I have of the S&P on here. Markets bouncing at the lower trend line yet again. Man, you make it to the upper portion of this trend line. Even if you don't do it through this calendar year, you're talking about 4,900 and rising from there. That's again about 265 points. That's another 5%. You could get in this market just if it trades to the upper portion of this trend line and it's done it many times, folks, over the course of the last. I gotta back it up even a little bit further than this. We'll put it on a five, three-year weekly to get the full run. I mean, look at that channel line. Pretty well-defined. We're sitting at the lower portion of 4,635, quite a tail. We got a weekly bar already in the S&P. Stay tuned, folks. I'll be right back for the market open. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex Predator in the trading markets and join the Tiger's Den trading room only at tfnn.com. 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I was just jumping over to BlackRock, taking a look at, you jump over to the Analyze tab, you get the fundamentals for the company, you pull up the market cap, you're talking about $138 billion market cap of a company, iShares, ETFs. I was pulling up in 2009, they paid, it looked like $13.5 billion in a mixed cash stock deal for iShares, and that was for the parent division, Barclays Global Investors, including iShares at the time, 2009. Man, I pull that up because the year that it's had an ETFs. And as we have this, markets clawing back to positive prices right now, pulling it up. Let me find that article I was just looking at here. Here we go, 445 ETFs debut, 445. That's more than one every single day. A quarter of all existing US products launched in 2020 or 2021. 25% of all products were launched in the last couple of years. 445 ETFs, $7 trillion US ETF industry can be summed up by a single trading day in October before the market had even opened. Yeah, there you go. A group of former BlackRock executive launched a firm looking to shape up the world of credit and seven exchange-traded funds on the way. Then the new product machine cranked into Overdrive, ETFs debut tracking, blockchain, electric vehicles, healthcare, Chinese innovation, ESG, and more. So mentioned direction folks, they are a sponsor at TFNN. They get some outstanding ETFs. They've launched some cool ones over the last couple of years, right? Work from home, along with many others. You pull up the work from home. Pretty sure that's when they launched it at 50 bucks. This thing been chopping around for the better part of 2021, but it had a nice, quite a nice acceleration to end. Last year, work from home, it's got a lot of exposure to a bunch of different companies. And yes, that is what it went public. It looks like, let me see, going back to the daily. I had a, interesting, you put it on a weekly. Okay, cause that goes back the whole year. Yeah, that is when they debuted that in June of 2020. You can see how everything changes folks. The pandemic hits in March and you got these innovative companies like Direction launching ETF products within a few months, tailored to what's going on in terms of work from home as the world changed. Yeah, 445 ETFs. Remarkable. Look at it in terms of year by year, right? You're talking about maybe 200 a year in 2017, 18 and 19. You're talking about 140 a year in 2015, 2016. And you're talking about 300 last year almost and 450 this year. About 900 billion has floated to ETF markets since the start of the year. Also easily a record out there. Yeah, ETFs that Americans can choose from jumped 20% since the end of 2020. Folks, it's not even 2022. That's talking about in one year, you have 20% more options on ETFs than you had just a year ago. As I said, a quarter of all ETFs are less than two years old. September among the busiest months for debuts ever, 70 new ETFs coming out in September alone. Is that the year, the month that we had Bitcoin maybe coming out? The details tell a deeper story. 75 target fixed income for the first time, new actively managed ETFs outnumbered their passive counterparts with 298 debuts versus 147. Active management versus passive. ETFs used to spell passive to most investors, but now they're coming to an active front. Interesting, right, Kathy Wood, probably the most notable. She is now based in St. Petersburg, Florida. Gotta love that. But yeah, interesting how it shifts. And I guess it would make sense, folks, in a fee-based world. I mean, that's why I pulled up, I shares talking about it because, man, would a buy ETFs have changed the world and there is a space, I believe, for active investing. Folks, we sell newsletters for active investing. I do believe in that wholeheartedly. But what I also believe in is having a portion of your investments for retirement, okay? And when you have it for retirement, you don't have to be as concerned with small moves. You don't have to be concerned with moves even over a year or two when you're investing for decades, which you should be, depending on your age, but you should be. And fees will crush you over the long haul when you start talking about compounding. Yes, if you're in the best of the best hedge funds and you're with somebody that's crushing 25% a year, of course you can handle the fees. But many times, if you're paying a fee and you're paying that fee every single year and you're paying, let's say, 1.5% for money under management, all right? Let's just say even 1% for money under management. So if you have a million dollars in there, you're paying $10,000 every single year and you're paying that whether you make money or you lose money, okay? So you make 6%, you pay your 10 grand. The next year, if you get down markets and you're paying for money management to the tune of 10 grand a year for a million dollar portfolio, man, you really are gonna be losing out on some compounding interest when you look out 10 to 20 years. That's why some of the indices, I mean, there's an even cheaper one now versus the spy, but nonetheless, those types of things, folks, I imagine they're gonna be around for a while. If you have no idea what you're doing, something like a fidelity where you're actually having money managed, yes, maybe that's the best thing. A lot of people, it's a real bummer, folks, for how we educate, you know, even our kids in high school, right? You think about, they have no idea how to do their own taxes. Why do we spend so much money on education and the financial literacy going through high school is not something that they even understand how to do taxes. That's a fundamental concept that you could totally understand that could be taught. I mean, even thinking about it's unfortunate to imagine how that type of education would go. I believe it would unfortunately become political, talking about teaching kids about paying taxes. But guess what, folks? That's how the world turns and people should know how to pay that. I say it because they should also know simple stuff about ETFs, about fees for investing, right? Most people would not even be aware of how to just invest in a spy fund, right? Just invest in an ETF. I mean, I'll say to people, listen, if you wanna, suppose you're in the money, there's nothing wrong, folks. Just put your money in the spy. At the next break, I'll pull up. There's a zero-based fee, I believe, ETF that started out there that mimics the S&P 500. I don't have it off hand. Just take your money and put it in the market. If you're investing for a long period of time, you're paying pretty marginal fees to have an S&P 500 position that you don't need to manage. The unfortunate part is that most people wouldn't even know about ETFs number one, wouldn't know about the ability to invest at very low fee bases. Most people don't understand when you're paying fee-based consultants, fee-based money managers, how that money can hurt compounding. Most people aren't aware of that. Teaching that type of financial literacy in high school would go a long way to protecting people because, man, the saying goes, you can't keep a fool and his money from parting. And no matter how many regulations you have, folks, okay, people need some form of financial literacy to be able to understand it. The whole housing crisis, it's very unfortunate that so many, and I'm tangenting here, left and right, but it is very unfortunate that you had so many people that were so unaware of the mammoth financial contracts they were signing, right? And you can say that they didn't understand it and it's not their fault. Boy, it is tough when you just ask people to sign contracts that they don't understand and you're signing them for hundreds of thousands of dollars at that time, they were signing them under variable interest rates. Very unfortunate, we see how it all ended up. The point being, if you're that financial illiterate, okay, it is very hard to have enough regulations to protect people that are that financially illiterate. It would go a long way to teaching those types of things like fee-based investing, ETFs, compounded interest, right? All of that stuff. It gets top, but not to the degree I think it should. And how about, you know, for all the things we teach our kids, you shouldn't know how to pay your taxes when you come out of high school. Most people come out of high school and have no idea. That's why they sign up for companies like TurboTax and all that stuff. All right, folks, stay tuned. It's 9.38, we got 22 minutes left in the program. I'll become a right back. Stay tuned. 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That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We have the markets clawing back some of the losses, S&Ps, futures just in the green right now. You're up one point at 46-42. You get the Dow up two points, back to the red, but sitting basically even at 35,380. Nasdaq with 100 within about six points. We'll call that flat, all the markets flat right now. We jump over to Bitcoin. Bitcoin sitting at about 49,000 right now. Crude sitting at about 71 bucks. Got the gold contract, 1792, and we jumped in notes and bonds right now. Little bit of a reversal of the move to higher price. Right now you're positive by five ticks at 130-23. We got a yield right now, about 1.46, the yield on the 10-year. Speaking of yield and mortgage rates, mortgage rates falling to a four-week low, but home buyers still pull back due to record low listings. Average contract rate, how about 3.27%? Quite a number. Applications to refinance a home increased 2% from the previous week, 42% lower year-over-year though, dealing with some tough comps last year. Applications for mortgage to purchase a home fell 3% for the week and 9% lower than the same week a year ago on the housing print. Amazon, interesting article talking about, oh no, that's not the one. I got a couple of Amazon articles up here. So first of all, they're gonna be missing the CES consumer electronic show. They're a big player obviously when you think about what they do. I think that takes place in Las Vegas, right? Serves in the annual showcase of new trends gadgets attracted more than 180,000 people from around the world. T-Mobile said a vast majority of its contingent would no longer be going. I mean, this is where you see folks, if you don't have shutdowns, it's not gonna matter. There will be an impact here when you have, I mean, think about the type of money that goes with sending all the people that are your big sponsor, right? T-Mobile said it's a big sponsor, a vast majority of the people not gonna go. Amazon and its smart home unit rings said they would not be on site next month due to the quickly shifting situation and uncertainty around the Omicron variant. So there will be impacts here folks, there will. Now, the article I was gonna talk about for Amazon is this one, which is probably much more meaningful. Amazon's Alexa stalled with users as interest-fated documents show. You know, I read this this morning and I said to myself, you know, my interest in Alexa has somewhat faded recently and that's with kids in the house that enjoy Alexa. We got a couple of lexes. We got an Alexa in the kitchen. We got an Alexa in each of the kids' bedrooms. So we got two in the bedrooms at least. So we got three, three lexes. I think we might have one of the TVs that can work with Alexa. But it's not quite as fascinating to me, the Alexa, as when it first came out. I remember when it first came out, I was setting up hot words. I have an outlet that can work as well. It's a smart outlet, right? Use your Alexa to talk to the outlet. So then you can say, Alexa, turn on the living room light. And meanwhile, what it's doing is it's turning on that outlet, which then the light is plugged into. I was doing all that type of stuff and I kind of stopped doing it over the last year or two. Internal memos detail the company's efforts to keep customers engaged with its Echo smart speakers. Not quite as engaged as when it first came out, when it was the big shiny toy. Each holiday season, since 2015, they've counted on selling a lot of those speakers. Man, they have just been pumping it out. It's remarkable. The case study that should be done in terms of how they won versus Siri. Apple kept their Siri just on their products while a phone costs like a thousand bucks, folks. And I'm not gonna buy a phone so I can talk to Siri. Amazon was pushing out Echo's at $20 to $30 so you could talk to it everywhere. And they took over that market from Apple. When Apple Siri was the first one, they should have been the first one there and they just didn't get it done. According to internal data, there have been years when 15% of new Alexa users were no longer active in their second week. Second week, within a week. They just put it away in a collects desk. Concern about the user retention and engagement comes up repeatedly. The documents which covered 2018 to 2021, they have big ambitions. I can go through it, but share of users of each Alexa device who use it each week. Devices with the screen, 74%. The Echo 66 and the Echo Dot, you're down to almost half. Half of the people don't even use it on a weekly basis. I would probably be one of those people for sure. I like it, but not really using it that often, talking to it. All right, what else do we have? Record setting year. It's always nice coming at the end of the year. We talked about ETFs. How about IPOs? $167 billion record, yet half below the offer price. That's the part I wanted to talk about here. So 481 IPOs are trading below, excuse me, more than half. There were 481 US IPOs this year. More than half of them are negative. Yeah, excluding even a longer list of SPACs. So that does not include SPACs. Collectively set a record of $167 billion. Those companies bringing for $512 billion in value to the stock market. 180 venture-backed companies went public in the US. That was a sharp jump from the 105 such IPOs with only 180 billion in value last year. These include Rivian, what they talked about. But still, on an average weighted basis, the IPO class of 2021 is up only about 1.6%. Meanwhile, you got the NASDAQ company, S&P up 19 and 24%. Talk about pushing paper out to the public that's gonna underperform versus the market. Now the companies that came out in 2020, they were strong companies. It seems like the companies that came out in 2020, if you're coming out in the middle of that roaring market, but during a pandemic, you probably have some strength under you. If you have the ability to come out when we're going through what we're going through last year, with a one-year head start, the 347 companies that listed in 2020, they're up about 46%. Now that's probably pretty much in line with the market when you add up last year and this year. The poor showings have included two of the year's top five offerings. You had South Korea's Coupang falling 14% and Diddy Man just really destroying things. How about down 57% taking away $35 billion in market value? Think about that, right? 35 billion gone. Regulators better put a stop to that, man. China pushing out paper and just destroying it in an instant. The higher growth trends that usually play out in the private market are also happening in the public. Investors are likely to exert more value discipline following this year's IPO performance. Yeah, I would expect so. If you were scooping up IPOs this year, probably not a happy camper. Looking to next year, 30 deals, including some that delay their 2021 offering are coming in January and February alone. So 30 deals in the two months to kick off the year, those deals will set the tone for the year ahead is how they put it there. Be interesting to see where it goes, but IPO is kind of a staggering number. You don't realize it. When you get the biggest of the big, getting all the headlines and even Rivian. Yeah, they're positive, but you ain't positive like you were. You look at Rivian, you were at 180. And geez, if you're in margin on this equity and that would not be advised with the volatility you're getting, but if you're just on simple 50% margin on this equity, you got wiped out by last year and you're basically sitting right at the price. Now, yeah, I think they got one public below this. They talked about Rivian in here. Their IPO price is technically lower, I imagine. Here we go. Yeah, it says they're still trading above their price. I'm not sure what, you're basically at lows that it's ever traded at. Even though you're gonna be technically above the IPO price, you get into this equity anywhere since it's been trading and you're basically in a losing position for Rivian right now. With that in mind, or I should say with that said, you're still talking about a company valued at $86 billion pre-revenue on Rivian. I'd say that's a pretty good job of pushing paper out to the public for a pre-revenue company at $86 billion. And look at this market, folks. S&P's positive by one, tech stocks higher. We'll take a look at some of the fang stocks when we get back. We'll take a look at Netflix. And we'll see. We got the Nasdaq 100 up 36 points right now. S&P's positive by one. Stay tuned, folks. I'll be right back to finish up the show. We'll talk about Tiger Dollars too. Don't forget about that Tiger Dollars sale ending in two days. Stay tuned, folks. I'll be right back. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV. Live every market day from 8.30 a.m. to 4.00 p.m. Eastern. 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The investment is for four years, paying 7% per year or $7,000 per 100,000 invested. Your investment is secured by high-value real estate in St. Petersburg, Florida. Your investment can be anywhere from 100,000 to 500,000. Do you wanna make 1,000 per year on $100,000 invested or 7,000 per year on a secured, target first mortgage? The target first mortgage program may be just the program for you. The target first mortgage program pays 7% per year, paid monthly. For more information, you can call 877-518-9190. That's 877-518-9190. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Well, welcome back, folks. I got a chart of paychecks out here. Paychecks out with their numbers up 5.6%, and man, strong numbers, pulling up what they had to say. They beat on earnings, they beat on revenue, and they beat on an outlook. Revenue, 1.11 billion for the quarter. Market was looking for 1.06. Earnings of 91 cents a share. Market was looking for about 80 cents. Looking ahead, they raised the fiscal 2022 adjusted earnings per share growth between 18 and 20% growth. Market was looking for 12 to 14% increased a revenue growth outlook between 10 and 11% from the previous 8% guidance. Yeah, decent numbers, paychecks. The economy is alive and well, folks, with paychecks. When they're processing paychecks, beating in a big way, you're up 5.5% in this market. Clon, back into the positive. You're talking about above where we were pre-marketed, all folks. You're coming in, you're trading at 46.46 now in the S&Ps. NASDAQ up 49 points. Let's jump around real quick. Apple up 4.10% right now. You got Microsoft shares up about half a percent right now. Amazon shares up 1.10%. Google shares up a full percent right now. All right, folks, can't believe it's already, is it tomorrow? Yeah, tomorrow, two days. This sale ends tomorrow, folks. December 23rd, our tiger dollar sale for the holidays, you can get up to a 20, 30, or a 40% bonus, folks. You spend 500, you get 600 tiger dollars, 100% bonus, excuse me, 100 tiger dollar bonus, or 20%. Spend a thousand, you get 1,300 tiger dollars. That's a 300 tiger dollar bonus, or 30%. You spend 1,500, you get 2,100 tiger dollars. That's 600 free tiger dollars for a 40% bonus. They can be spent on anything we offer, folks, from newsletters to webinars to trading webinars to live trading webinars, excuse me. They never expire. You can transfer them to friends and family if you want to give them a gift for some TFNN services coming up for the year. Current subscribers purchase those tiger dollars. You apply them to your account once, folks, and they're used forever until that balance reaches zero. Check that out on the front page of TFNN before it ends tomorrow. And that'll be the last day before Christmas. And today included seven trading days left in 2021, folks, remarkable. Get that Christmas shopping done, man. We got two days. All right, we got the markets in positive territory, folks. S&P is up to four. NASDAQ up 45. The Dow in the red by 33. Thanks so much for starting your trading day with me. Stay tuned. We're gonna man Basil Chapman's coming up live next. We got Larry at 11, Fast Market at 12. Steve Rhodes at one. Tom O'Brien wraps it up live from 3-Tail 4. Have a great Wednesday, everybody.