?? Reddit's $750 Million Raise
S&P 500 5,123.71 -33.65 (-0.65%)
Dow Jones 38,723.28 -68.07 (-0.18%)
NASDAQ 16,085.11 -188.26 (-1.16%)
Market close: March 8, 2024
Breaking News
Reddit is aiming to raise almost $750 million as part of its upcoming IPO, according to a corporate filing. CNBC reports.
The Warm Up
A powerful House committee in the U.S advanced a bill that could lead to a nationwide TikTok ban. CNN reports.
Space company Astra is going private to avoid bankruptcy. CNBC reports.
Starbucks will raise wages for U.S. store workers by at least 3% from 2024. Reuters reports.
Fake images made to show Trump with black supporters highlight concerns around AI and elections. ABC reports.
Rivian shares surged after the company revealed new EV models. CNBC reports.
X announced a new long-form post format called Articles only available to Premium+ subscribers and verified organizations. TechCrunch reports.
A Question About Risk
Bob Iaccino is chief market strategist and co-founder of Path Trading Partners. He joins us live every Friday from 11am ET, as our risk management educator.
What is dollar cost averaging?
Dollar cost averaging, when actively investing or trading, is a coward’s excuse because you’re basically saying: “The trade went against me, but I still think it’s right”.
If it was part of your original strategy to build into a position at the current price, then at a lower price, then at a lower price again, that’s okay.
If you’re just looking at a trade and thinking: “Well, it’s going against me but I still kind of like it, maybe I should just buy more”. That’s wrong. You have to look into your brain as to where that’s coming from: Is it because you’re not accepting that a trade can go against you before it goes your way? Is it because you’re not accepting that you could be in a losing trade? Or is it because you actually had the plan to own more of these shares and you wanted a better price on the portion of the total trade?
Monday Mindset
Physical, mental and spiritual activities to recalibrate the mind back into its trading groove.
Are you journaling your trades? You could take it one step further and write about your deepest thoughts and feelings.
In a 2006 study, nearly 100 young adults were asked to spend 15 minutes journaling or drawing about a stressful event, or writing about their plans for the day, twice during one week. The people who journaled saw the biggest reduction in symptoms like depression, anxiety, and hostility, particularly if they were very distressed to begin with. This was true even though 80 percent had seldom journaled about their feelings and only 61 percent were comfortable doing so.
Friday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on March 8.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $AMD: Advanced Micro Devices
Total gain: (83%)
The stock appeared to be moving on no notable news
领英推荐
.2. $PBM: Psyence Biomedical
Total gain: (73%)
The company has received full approval from the Australian Health Research Ethics Committee (HREC) to initiate its planned Phase IIb study. Benzinga reports.
3. $XBP: XBP Europe Holdings
Total gain: (62%)
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
ASAN Asana
4Q 2023
After Market Close Estimate: -0.10 Actual: N/A
MTN Vail Resorts
2Q 2024
After Market Close Estimate: 5.98 Actual: N/A
NPWR NET Power
4Q 2023
After Market Close Estimate: -0.05 Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
None Scheduled
Extra-Time
Visit Our Knowledge Corner
Parting Thoughts
“Michael Jordan didn’t become a great basketball player because he wanted to do product endorsements. Van Gogh didn’t become a great painter because he dreamed that one day his paintings would sell for $50 million.”
― Jack D. Schwager
Sourced in: Unknown Market Wizards: The best traders you've never heard of By Jack D. Schwager · 2020
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