BREAKING: AMC Entertainment stock, $AMC, is now up a massive 60% today adding $600 million of market cap.

AMC has traded its ENTIRE free float today and the market hasn’t even closed yet.

In other words, $AMC has traded 300 MILLION shares today.

That’s equivalent to 18 TIMES the stock’s average daily volume.

Meme stocks have officially added more than $10 BILLION in market cap today.

Short covering is an understatement.

https://t.me/KobeissiLetter

BREAKING: Gamestop stock, $GME, surges another 20% in overnight trading as "Roaring Kitty" returns to X.

"Roaring Kitty" is the user than initially started the "meme stock" run in 2021.

For the first time since June 2021, "Roaring Kitty" has just posted on X.

This comes as $GME is already up more than 70% over the last 3 weeks.

Are "meme stocks" back?

https://t.me/KobeissiLetter

BREAKING: The median monthly mortgage payment in the US hits a new record high of $2,894/mo in May 2024.

This is a 14% jump from 2023 and a 23% surge from the same period in 2022.

The median monthly mortgage payment is up by a whopping 78% since 2021.

If you factor in other home ownership costs such as maintenance, insurance, and taxes, the median payment is well over $3,000/month.

Meanwhile, the median home sale price just hit a new record of $385,000 in May, according to Redfin.

Buying a home has never been less affordable.

https://t.me/KobeissiLetter

Key Events This Week:

1. April PPI Inflation data - Tuesday

2. Fed Chair Powell Speaks - Tuesday

3. April CPI Inflation data - Wednesday

4. April Retail Sales data - Wednesday

5. Philadelphia Fed Manufacturing data - Thursday

6. Total of 12 Fed speaker events this week

Very busy week ahead!

https://t.me/KobeissiLetter

This is unusual:

The US BLS has announced that coffee prices will no longer be factored into CPI inflation data.

In fact, the April 2024 CPI inflation report this week will be the first to NOT include coffee price inflation.

Well, the obvious next step is to see what happened to coffee prices over the last few months.

Since September 2023, coffee prices are up a MASSIVE 78%.

From January 1st of this year through the high in April when this change was announced, coffee prices gained 35%.

All as Starbucks, $SBUX, just reported a 6% decline in traffic as higher prices deter consumers.

What is happening here?

https://t.me/KobeissiLetter

JUST IN: Users on X are reporting mass cancellations of Disney+, $DIS, subscriptions after Elon Musk interview.

Within just hours of Elon Musk's interview, thousands of users have posted screenshots of cancelled Disney+ subscriptions.

In addition to Disney+, users are reporting cancellations of Paramount Plus and others.

This comes after Elon Musk accused some advertisers of blackmailing X with advertising money.

Disney's CEO, Bob Iger, was specifically called out.

https://t.me/KobeissiLetter

Microsoft just pulled off one of the greatest "acquisitions" of all time:

Prior to the firing of Sam Altman, OpenAI was worth ~$90 billion.

This weekend, Microsoft was able to hire Sam Altman and Greg Brockman after having no advance notice that they would be fired.

Then, as Microsoft announced a new AI team lead by Altman, 660 OpenAI employees said they might follow.

In other words, Microsoft just hired Sam Altman, Greg Brockman, and potentially 85% of OpenAI without spending a Dollar yet.

All leading to a $70 billion jump in Microsoft's, $MSFT, market value today.

We are witnessing history.

https://t.me/KobeissiLetter