Market Update Newsletter 3/30/23

Markets rallied yesterday and all indexes ended up over 1% higher. Bitcoin (BTC) is up to $28k. Futures are following the trend.

Cal Main Foods, America's largest egg producer saw a 7x rise in profits year over year, as reported in the last quarter. This is all while avian flu is wreaking havoc on chicken supplies. No calls for an increased tax on egg farmers yet, hopefully, California will not go after them as they did big oil.

Lucid (LCID) is laying off 1.3k employees as the annual production forecast was half of what analysts expected. Not good. Teslas (TSLA) price slashing for the cheaper models has proven to be a good move.

Stocks to Watch

AMD (AMD) gets a PT raise from Wells Fargo, $85-$120. Stock and semi industries are hot. All aboard!

Energy stocks again receive a plethora of PT decreases. I'm still not convinced. Analysts are just trying to justify accumulating capital to buy tech.

Intel (INTC) receives a small PT raise, but this is another indicator that semis are back.

Meta Platforms (META) has been lost in the sauce with the Metaverse, but Zuck is pulling back on the Metaverse as interest wanes. Good for him. If TikTok gets banned Meta might be able to scoop up some of the audience.

Happy Investing!

The Punkrock Capitalist