Hey there weekday warriors,

Today we’re pouring one out for Fisker and celebrating (another) Nvidia milestone.

Enjoy the next 4 minutes and 10 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “ticked to more records following the latest signal that the U.S. economy’s growth may be slowing without cratering.” (AP)

+ The 10-year Treasury yield “fell on Tuesday after a cool reading for May retail sales raised concerns about the strength of the economy." (CNBC)

+ Oil “settled more than 1% higher on Tuesday due to escalating geopolitical risk in Europe and the Middle East, where wars continue to threaten global supply.” (Reuters)

+ Bitcoin “slides to $65k amid high liquidations, ETF outflows.” (Investing.com)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia +3.5% 2) HPE +1.4% 3) C3.ai -1.7%

The market moves you need to know about…

+ Don’t freak out, but… NuScale Power stock just popped 12.2% on news that the Department of Energy plans to pony up $900M to deploy small nuclear reactors.

– Bad day to be a DJT investor (well, worse than usual). Shares were down 9.8% during the regular trading session and another 13.5% after hours. And it could get worse. Yesterday was a deadline that would allow some insiders to begin exercising warrants.

+ Rocket Lab, well, rocketed 13.3% higher on news that it inked a 10-launch deal with a Japanese company.

Double Fisking

I don’t know who needs to hear this, but NEVER invest in a car company founded by Henrik Fisker…

For the second time in a decade, a Fisker-founded automaker has gone tits up. His EV brand Fisker filed for bankruptcy protection on Monday night.

It wasn’t totally surprising, given that Nissan had pulled out of negotiations to partner with (read: bailout) the electric car company. Nissan’s rug pull prompted other investors to decide against a $350M cash injection. Oof.

There were signs…

Back in 2013, Fisker Automotive, a hybrid automaker did the Chapter 11 dance. It was plagued by battery issues, and the 2008 financial crisis didn’t do it any favors. Perhaps next time around Henrik won’t include Fisker in his company’s name?

So what went wrong this time?

Fisker’s Ocean SUV was a complete sh*tshow. Its safety issues and setbacks made the Cybertruck look like it was Built Ford Tough. Consumer Reports was absolutely savage about the hardware and software issues, saying it has “unfinished business.”

Despite all the corners it appears to have cut, Fisker couldn’t even manage to meet production expectations. It produced less than half of the 10k Oceans it promised.

These operational issues led to pressure from investors and made it difficult to secure funding.

Oh, and did I mention its biggest red flag of all? It went public via SPAC at a crazy valuation in 2020…

One more thing…

It’s only a matter of time until the mouth-breathers get a hold of Fisker and pump this b*tch like it’s Hertz in the summer of 2020.

+ Everyone: “Jensen Huang can’t one-up signing boobs like a rock star.”

Jensen Huang: *Headlines the Las Vegas Sphere and Nvidia becomes the most valuable company in the US.*

Nvidia (+3.5%) just pulled an Iverson stepping over Ty Lue (spoiler: Tyronn Lue is Microsoft). The chipmaker has claimed its rightful place atop the market cap league tables. Its $3.34T bested Microsoft’s $3.32T market cap.

The most insane part of it all? Nvidia only hit a $3T market cap earlier this month. Shares are up more than 170% this year alone.

+ “I’m not mad, I’m disappointed.” - Uncle Sam to the American people

How do you sleep at night, knowing you have failed your fellow Americans by not spending money you don’t have on sh*t you don’t really need?

In May, retail sales grew at a slower rate than expected (+0.1%). Economists were expecting a 0.3% jump.

But, hey, it could have been worse. April’s data was revised downward to a decrease of 0.2%.

+ Of course, Apple (-1.1%) is suspending work on its next high-end Vision Pro headset… no one wanted the first one. Instead of making another $3.5k+ VR/AR headset, Tim Cook & Co. will focus on a cheaper version.

+ Why Successful Real Estate Investing Is All About Finding the Right Deal (Read)

+ Should You Make a 15% or 20% Down Payment on a House? What You’ll Pay Over Time (Read)

+ Want more real estate news & insights? Check out The Pocket List. It’ll keep you up to date on the industry with one goal: helping you make more money. Check out last week’s newsletter and subscribe for free with one click (Read & subscribe)

⏪ Yesterday we were keeping an eye on retail sales. You can check out all the details above.

⏩ Markets are closed for Juneteenth.

Yesterday, I asked, “Would you rather be the CEO of GameStop or Boeing?”

63.8% of you said Boeing. I suppose there is more upside there…

Here’s today’s question…

Before you go…

Twitter is not giving Justin Timberlake a break… (Check it out)

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.