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Wednesday, March 26th
“The spread of civilisation may be likened to a fire; first, a feeble spark, next a flickering flame, then a mighty blaze, ever increasing in speed and power.”
-Nikola Tesla
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Markets Today
🌏 Asia-Pacific: Up
🇪🇺 Europe: Down
🇺🇸 United States: Mixed
🛢️ Oil: Up
⚡Crypto: Mixed
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Major Market Events
- 23 and Me customer DNA data in peril during bankruptcy
- Meme stock Gamestop starts to move again on crypto embrace
- India to ramp down Venezuelan oil purchases over Trump tariffs
🤔 My Thoughts
You don’t have to go to crypto to see insane swings in the markets…
One of the biggest movers in the entire stock market over the last few days is a tiny tech stock called MicroAlgo
NASDAQ: MLGO
It soared nearly 500% on announcement of a $20 million share issuance due to a complex debt agreement with investors.
With a market cap of just $120 million, $20 million in shares is a massive percentage of the total stock and this crushed any short sellers, further driving up the price.
Then it started crashing back down to earth yesterday… and now it’s swinging up and down all over again.
Of course the fundamentals are a mess, as the company teases advanced technology in quantum computing in AI but does not have a meaningful product line or customer base yet…
So not something you want to hold for the long-term outside of a lottery ticket.
It’s risky to dive into tiny tech stocks like this… but if you want to have some fun with crazy price action, this is where to find it.
We’ll share the details on some more crazy market movers… including one that has the potential to be the next Micro Algo – on our free Telegram channel right here.
We’ve also been holding market update livestreams on Telegram which have been a big hit with the current subscribers – so if you want in on that, sign up free right here.
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