What's going on moon gang welcome back to another dumb money wrap up for today, wednesday november 10th, in this particular video we'll be talking about the newest inflation report and how that's having a negative impact on a lot of equities, we'll be talking about crypto and all The new all-time highs, then we'll be diving into amc and the reports of adam aaron, the ceo selling some of his stock and what it truly means we'll be touching a little bit on the rivian ipo and then finally we'll be wrapping it up with the. I guess absolute dumpster fire, that is robin hood, let's get into it so before the market opened. Today we got the consumer price index, cpi information, u.s consumer prices jumped 6.2 percent in october, the biggest inflation surged in more than 30 years. The consumer price index surged 6.2 percent from a year ago, in october, the most since december 1990..

Now that's not sending off some red flags in your head. I don't know what will core inflation stripping out? Food and energy increased 4.6, the fastest gain since august 1991, and here's where it really gets interesting. Energy, shelter and vehicle costs led the gains which more than wiped out the wage increases that workers received for the month. So i want to talk about the fed and government right here.

So the government's saying, hey like we get things are more expensive, but you're also being paid more, so it should be okay. The issue is, is the menial gain in payment is not as much as the cost increase in everything else. So is it true that labor is being paid more yes, but not to the same degree that things are way more expensive and like 1991 1990? These numbers are serious. How do we get here? Well, that's because of the federal reserve, starting with pandemic in march of 2020 they're like hey, we need to backstop it, let's buy everything we possibly can and they basically just shove, trillions and trillions and trillions of dollars into the system and right now we're in the Scenario where they're trying to kind of undo it they have started the process of tapering, but it's becoming one of those situations where they've been so focused on the unemployment that they're putting money into the system to backstop it all that right now, there's so much money In the system that it devalues it we're seeing extreme inflation and fingers crossed, it doesn't become hyperinflation, but it's definitely something to consider, and i mean these numbers are getting to the point where they are notably serious and that's exactly why we're starting to see this dip In the overall market now i want to make it explicitly clear that i'm not i'm not calling for doomsday.

I'm not saying this is dawn like whoa. Like panic, panic panic, i don't think fear-mongering is ever helpful because remember before the market closed last week we did hit a new all-time high, but it's also reasonable that okay, we hit a new high. Technically things are a bit hot now, inflation's a bit hot. It makes complete sense that we're taking a dip - it obviously makes sense.

Why would we keep going higher when it's technically overextended and we got some negative reports relating to inflation? S p 500 today dropped 0.8 percent. The next major support i'll be paying attention to is around just just south of 460., and if things get a little bit more, i guess uh worrisome. Let's put it then i'll be paying attention to these three individual gap. Those once again, this is all for the s p.

500. It's a basket of 500 of the biggest companies within the us. So a little bit more tech heavy once again recently hit a new all-time high same thing. I mean all the major indices are going to have this similar chart shape to them.

So i'm looking at the support around 382 384 russell 2000 same thing. Instead of hitting the all-time high on friday, it hit it on monday, but still starting to come back down and i'm seeing if they can find support at 234.5. So overall this makes sense. The charts the markets have been technically overextended.

Many of them just hit a new all-time high, so it's like it's very reasonable. Think that there's going to be some sort of reversion and right now, with the inflation coming in a bit too hot people are starting to get a little bit concerned about that, but it does lead to gains in other sectors, so with inflation, people are saying: well, Hang on, if my usd is being devalued, i'm hearing about this thing called cryptocurrency. That's a better story value well: ding ding, ding, btc, bitcoin digital gold hit a new all-time high of 69 000. ethereum one of the world, literally the world's biggest utility coin, hit a new all-time high.

Just below 4 900. litecoin had a very nice run recently. It went from 200 to almost 350 percent gain right there and the one that's been turning a lot of heads lately is loop ring just so you know i want to be completely transparent, i'm involved in all four of them. I have a long position on all of them.

Loopering has had incredible gains lately this particular blockchain. It's going to be most related to ethereum, it's more of a layer, two solution for decentralized exchanges, so it's being at first, it was built to be agnostic, but right now, in august of 2021, it does seem to be favoring ethereums, because in august they talked about How we're going to be supporting nfts, particularly ethereum, based nfts, so it's all about marketplaces, exchanges and with loopering. I do view it to be a quasi investment into gamestop, because right now, the the rumor, if you're, going to trust the rumor mill, is all about how gamestop is attempting to positively improve the trajectory of the company by getting involved in nfts within nft marketplace. And the rumor is that loop ring will be the crypto, the blockchain technology.

That's going to make that a reality and to me it makes a lot of sense. Loot bring is known for decentralized exchanges, aka marketplaces and specifically with nfts in august of 2021, when loop ring the team did its update, they said yeah. No, we are going to be supporting ethereum based nfts. So i think this is getting a lot of enthusiasm behind it and it almost took out four dollars today, currently trading at three dollars as i'm filming.

This live speaking of our other moon stock. Here's amc good morning, not so good afternoon, as i'm filming this currently trading at 36.54. Today we did hit a high of almost 41 gamestop, just so you know hit 207 currently training at 198 in after hours. So some of this negative reaction right here is actually because of this headline.

Amc, ceo, adam aaron, sold 25 million dollars in shares on tuesday after warning meme investors. He would do so so i i don't know why people are reacting in this bearish manner when we know it. For the past two earnings announcements - adam aaron, has pointed out that he's 67 and due to proper estate planning, he will be selling a portion of his shares, but in the most recent earnings announcement which occurred on monday, the 8th, i believe he said - hey, i'm still Going to keep 2 million shares, so it's not like he's completely divesting his amc investment he's just saying: i'm 67.. I have to do something a little bit reasonable with my money.

So if we dive into it a bit more of why i think, before it's talking about the market and fear-mongering, i think that's exactly what's going on with people who are anti-amc right now, so, let's dive into some of the facts. This is a form that when you have insider selling, you have to like register that with the sec. So on the ninth right here, he he had some uh 625 000. But if you see this, it's a 10b51 and before we get into it.

What a 10b51 is, i want to dive into a little bit more information in terms of sec filings. This is the form 144. So, once again, he is registering these shares. The 1.25 million shares it's all through a 10b51.

I just wanted to bring both up, but this is how you get to the numbers that everyone's talking about both of these can be found on the sec website. I just want to remember remind everyone about what this specifically is. A 10b51 allows company insiders such as adam aaron, at amc, to set up a predetermined plan to sell company stock in accordance with insider trading laws. The price amount and sales dates must be specified in advance, determined by a uh formula or metrics.

So right here it's not like he saw their price and like this is where the top is gon na, be you got ta get out? No! No! No! This is predetermined on the earnings call. He said the sale will occur over three individual months, unique months and it it's not like he's sitting there and saying: oh, this is the top i got ta get out. This is predetermined by a person who's, not even him if you've seen the filing right here. I think his lawyer uh attorney in fact edwin.

This could be the guy, but he's not even the one in the driver's seat of this. I just want to make that explicitly clear and also remember one million shares. I mean amc amc today alone, traded 31 million uh. Yesterday, the day before we were exceeding 50 million, it's it's not a drop in the bucket, but it's kind of a drop in the bucket.

It's not like it's exclusively. His actions are the one driving it down. If anything, it's the news and the headlines and the reports that are freaking people out about they don't know what's actually going on. But what you have to remember, adam aaron 67 he's been calling out that he has to do this for the past two quarters.

So we're talking about the past half year, he's saying guys i got ta get out of some, but he will still be keeping two million of those shares. Other interesting news today was the new ev kid on the block: rivian one: it's the year's biggest ipo and actually a record-setting ipo. So what you need to know about rivian, it's in the world of ev um. It started in 2009 with an mit brainiac.

He wanted to make ev sports cars, but he didn't think he could compete with elon, so he made more adventure based cars. So here's the r1t it's a truck um starting at 67 000, the r1s more of an suv starting at 70 000, and on top of that they also have delivery bins. Think of the amazon like last mile delivery in a certain way, probably competitive, with the likes of something such as workhorse uh. But i wanted to bring up amazon because amazon's, actually 22 owner of rivien, which, since an ipo today means they made a lot of money.

Also ford another ev competitor owns 12 percent of rivien, who also made a butt load of money today, in fact, they ipo at around 67 billion dollars and then with they were attempting to raise 10. They ended up raising 11.9 so fully vested. That's bringing it into the realm was 77 billion, but as you're gon na see i mean you can see it up here like for the people who are looking ahead. Training at 100, the ipo price was 78, so that means they made even more money, rivien valued at over a hundred billion in debut after world's biggest ipo of 2021.

The biggest previous one in the us, i think, was facebook back in 2012. This thing is like, potentially, a top 5 po ever in the u.s market, a lot of money to be made in this one. So anyway, as i was alluding to uh, i mean the the cap coming in the market cap for rivn, which is the ticker symbol for rhythm uh, 100 bill. I mean we were talking about 77-ish bill fully diluted at 78 and then, when you open up at what was this 106 uh, i mean that's a 35 36 gap right there and then we ran all the way up to 120..

Now, if you're listening on the live stream and what i've been talking about, i tend to avoid ipos, not because i dislike the company. In fact, if this continues to dip i'll, probably just buy more and more more right now i have no position and it's just because the nature of ipos there's a lot of enthusiasm and right here i mean we gapped up by 36 and then continue to run And generally, that type of enthusiasm is not sustainable and that's exactly what we saw. I will let everyone know when i finally invest into this company. I am bullish on it.

I like us, ev, plays, i think, being in that adventure. Eevee based part of the market is a unique play. I think the leadership team is interesting. I like the amazon order.

They have a hundred thousand last mile delivery that will be given to them by 2030 they're going to put that order in i just like it. I think it's a good play, but right now, in terms of what's a good price to get at, i think it's just a little pricey right now and we're kind of seeing that reflected it's just the enthusiasm could not be sustained, but i'm bullish on it i'll. Let you know when i see an opportunity, at least for me to personally get into rivn, and the final thing i want to talk about is the absolute dumpster fire that is robin robin hood. Crypto ceo, the idea of meme investing needs a little bit of an attitude adjustment.

Now, if you listen to it, it's a little bit clickbaity, but if you listen to it, she's saying hey, though the way meme traders investors are perceived is not good. They have a lot of information, and i went on a complete rant about this today, they're just back pedaling. They know that the pr situation as it relates to robin hood is not a good one. It's funny to me that in november of 2021, you have a company ahead at a company saying hey: no, they have a lot of information, their trades and their ideas should be respected, but apparently not respected.

So much that when we all get it right on gamestop in january, they got ta take away the buy button. I do find that interesting and then it leads you to believe. Oh hang on. Why are they being nice now like? What's going on? What's going on? In the background that they feel like they have to somehow, i don't know, placate the retail training and investing audience, and it's because of this.

So, on monday of this week, the eighth there was the first murmurs and the reports of robin hood getting hacked and we have more information, robin hood hackers access internal tool for removing account security features. Screenshots show this was reported by vice, but the thing i wanted to particularly bring up to you was they pulled all this off by using an internal tool and it was all uh social hacking. So, basically, some person, some consumer customer rep at robinhood, got tricked hackers socially engineered a customer service representative. So it's another thing that robin hood as a company, it's their fault.

They were socially engineered. This wasn't some weird brute force attack like a mr robot style thing. This was a social engineered thing. Someone who worked there got talked into, i guess, handing over the keys to an internal tool that gave them a kind of like access to the kingdom and a lot millions of people, their data got exposed and a smaller amount.

An extreme amount of their data got exposed, email addresses of 5 million people. The full names of 2 million 310 were more highly personal information right there with robin hood. I was talking about this a little bit previously. It's just.

I was upset to learn uh not too long ago. Kathy wood at arc invest bought more almost 500 000 more and i was how i just don't get it two different pillars: the the public is against robin hood. We don't like how robin hood treats us. We, i think, fairly, think that they lie quite a bit on top of that their business model, even if you don't care about the social aspect, the business model, if there's not some crazy, crypto well, a lot of their other revenue is just payment for workflow, which Is a business model that's actively being looked at by gary gensler at the sec right now, it's being put on the chopping block, potentially literally just yesterday, the eu announced that they're banning payment for order flow.

This is a company, that's barely hanging on they hemorrhaged 1.3 billion dollars. Last quarter. They are operating at a massive loss and unless there's some insane black swan events such as doge such as gamestop - that's how they survived two of the previous quarters. But now, if there's not something insane happening, i just don't see where their money comes from, and then you get you throw in a little bit of this hacking story, and it's just this is the most menial attempt to make us be like.

Oh, i think robin hood's okay. They just said that we should be respected. What a piss-poor attempt in my humble opinion. Well, that's what i have for everyone today.

I would love to get your opinion on any of this stuff. The overall market crypto hitting new highs, amc jimmy adam aaron selling, and we knew it was coming, but, of course, mainstream media trying to make it worse than it actually is remember these things were all registered way in advance. We knew it was coming. Rivien ipo one of the biggest in u.s market history and robin hood being the dumpster fire that robin hood is.

If you have any thoughts, let me know in a comment below if you enjoyed this, if you like these daily update videos, if you can't hang out in all the streams and you like these quick rundowns, let me know all you have to do is hit the Like button subscribe, leave a comment, and until i catch you next time for me and share best of luck in the markets, you.