Kim Kahn
👤 SpeakerAppearances Over Time
Podcast Appearances
Barner scoring the first touchdown at 12-1.
And in the Wall Street Research Corner, Wedbush added Salesforce and ServiceNow back to its Ives AI30 ETF, ticker symbol IVES, after removing them in December, saying it strongly disagrees with the idea that software and tech behemoths are losers in the AI revolution.
The firm removed Roblox and Baidu from the list.
Wedbush added that many customers still won't rush into aggressive AI migration projects if it puts their data at risk.
Today is Thursday, February 5th, and I'm your host, Kim Kahn.
That's the way the crypto crumbles.
Bitcoin kept sliding through key levels, falling below $70,000 for the first time since late 2024, as it continues to take the brunt of risk-off moves.
With Bitcoin now knocking at the door of $65K, it would have to roughly double from here to get back to its all-time high.
And according to data cited by the Kobesi letter, the total digital asset market has shed more than a trillion dollars in value since January 14th, about $45 billion in losses a day and counting.
Echoing Michael Burry's warning that the sell-off could turn into a death spiral, Richard Farr, chief market strategist at Pivotous Partners, says his price target for Bitcoin is 0.0.
That's not just for shock factor.
It's where the math takes us, he posted.
He argued Bitcoin has failed to function as a dollar hedge and instead trades as a speculative instrument correlated to the Nasdaq.
No serious central bank will ever own something where strategy co-founder Michael Saylor controls the float, he added.
Crypto-related stocks are also getting hit hard, with Robinhood, Coinbase, Strategy, Riot Platforms, and Hut8 all under pressure.
Among active stocks, Hims & Her's Health is surging on a report the telehealth platform is planning to launch cheaper compounded versions of Novo Nordisk's Wagovi weight loss drug.
The report says Hims would roll out its version at an introductory price of $49 a month, about $100 less than the brand name.
Estee Lauder is the S&P 500's biggest decliner after issuing full-year revenue guidance below forecasts.