TLDR

MARKET RECAP → The Nasdaq Composite (QQQ) fell for its sixth day in a row Friday as tech-darling Nvidia (NVDA) dropped, reflecting a rotation out of the “Magnificent 7” that drove strong gains in recent months.

CYBERTRUCK RECALL → 🚗 Tesla (TSLA) recalls nearly 4,000 Cybertrucks after a viral video reveals a "sticky" accelerator issue, blamed on an unauthorized soapy solution in assembly—just another speed bump in Tesla's rocky road.

CITADEL VS. TRUMP MEDIA → 😱 In a fiery public spat, Citadel Securities slammed Trump Media's CEO for crying foul over alleged market manipulation, while Trump Media (DJT) shot back, accusing Citadel of lacking integrity amid its own murky past.

Was this email forwarded to you? Sign up for free here.

MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

A MESSAGE FROM OUR PARTNER

TODAY’S TOP NEWS

Cybertruck Recall

🚗 Sticky Situation: Tesla (TSLA) initiated a recall of 3,878 Cybertrucks after a viral TikTok video showcased a "stuck pedal" issue, potentially causing unintended acceleration. The problem was due to a loose pad on the accelerator pedal getting jammed in the trim, sparking safety concerns and an immediate response from Tesla.

🔧 The Soap Opera: An "unapproved change" involving the use of soap as a lubricant during assembly was pinpointed as the culprit behind the pedal mishap. This soap reduced the pad's adhesion to the pedal, leading to the unintended acceleration issue. Tesla's service teams are set to repair or replace the affected parts at no cost.

📉 A Bumpy Ride for Tesla: This recall comes at a challenging time for Tesla, following a drop in their first-quarter vehicle deliveries for 2024 and ahead of their earnings report. The Cybertruck's delivery numbers have been modest, and this incident adds another layer of complexity to Tesla's ongoing production and public perception challenges.

TODAY’S TOP NEWS

Citadel vs. Trump Media 😱 

🚀 Heated Exchange: Citadel Securities fiercely criticized Trump Media CEO Devin Nunes for implicating the firm in a letter to Nasdaq about potential illegal short selling of DJT shares. Citadel's spokesperson dismissed Nunes with sharp barbs, likening him to a reality show contestant who might have been fired for lack of integrity and ability.

📄 Nunes' Allegations: Nunes accused several major market players, including Citadel, of potential market manipulation through naked short-selling of Trump Media shares. He highlighted that excessive short-selling activities could be distorting the company's stock value, driven by financial incentives to lend non-existent shares.

🛡️ Trump Media's Retort: In response to Citadel's blunt criticisms, Trump Media defended its CEO and accused Citadel of lacking the moral high ground, citing the company’s history of fines and penalties. This defense underscored a tumultuous relationship, suggesting that this public financial drama could continue to unfold messily.

BULL VS. BEAR

MESSAGE FROM OUR PARTNER

Visual-based newsletter on business and tech

We explain the latest business, finance, and tech news with visuals and data.📊

All in one free newsletter that takes < 5 minutes to read. 🗞

Save time and become more informed today.👇

Subscribe with one click today

NOTABLE POSTS

KEEP READING

Nvidia dragged to worst day since March 2020 after Super Micro plunge (CNBC)

New York AG says $175 million Trump fraud bond isn’t properly backed, should be voided (CNBC)

Something strange has been happening with jobless claims numbers lately (CNBC)

19 Best Side Hustle Jobs in 2024 (ML)

Can You Have More Than One Bank Account? (ML)

What Is High-Risk Auto Insurance? (ML)

WHAT WE’RE WATCHING

OUR FAVORITE TOOLS & RESOURCES

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — Crypto market data

• Finviz — Financial visualizations

• Trading Economics — Economic calendar

• CME FedWatch Tool — Market-implied probabilities of future levels of interest rates 

• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Vimcal — Lightning-fast calendar and AI scheduling assistant

• Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more

The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.

This advertising email was sent to you because you have a MoneyLion account. If you would like to unsubscribe, please do so using this link. We respect your right to privacy. Please do not reply to this email with sensitive information, such as an account number, Social Security number, date of birth, bank account information, PIN, password, or Online ID. The security and confidentiality of your personal information is important to us. If you have any questions or want to read more, please visit our Help Center.

MoneyLion and Pathward do not provide, nor do they guarantee, any third-party product, service, information, or recommendation. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. MoneyLion is not liable for any third party’s failure with regard to those advertised products, services, and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, and may be subject to a different privacy policy than MoneyLion’s. You should check individual offers, products, and services to become familiar with any applicable restrictions or conditions that may apply. MoneyLion may receive compensation from third parties for referring you to the third party, their products or to their website.

The influencer, creator and other content provided in the MoneyLion App (“Content”) is for informational and entertainment purposes only and should not be construed as legal, tax, investment, financial, or other advice. All Content is intended to be of a general nature, does not address the circumstances of any particular individual or entity, and may not constitute a comprehensive or complete statement of the matters discussed. MoneyLion is not a fiduciary by virtue of any person’s use of or reliance on the Content. You should consult an appropriate professional if you require any legal, tax, investment, financial or other advice.