There is nothing left to say about Nvidia, but what about the rest of the 55,280 stocks in the world? It’s a bit of a mixed bag for the rest of the Mega-caps. Amazon has not made any progress in three years, same for Google, and Microsoft may be fine, but Tesla is still down more than 50% from its highs. We did see the same thing in Meta once though, and it is now back to record highs.
Bezos and Zucki did unload a few billion amongst friends as of late, which could be a sign of a top, but of course, super-yachts have become very expensive. Fact is, other investors also took some profits, to the benefit of most other sectors. Staples, financials, and even utilities found a bid in what pundits described to be a healthy market rotation.
What about European stocks? The Stoxx600 hit a record high last week, which is good. However, the FTSE100 didn’t, which is not, but there are the magnificent eleven. The so-called Granola index, which is comprised of LVMH, SAP, and other Continental heavyweights has done rather well in the last 5 years, with Novo Nordisk leading the way, up a staggering 279%.
Chinese stocks continue to get cheaper and just when you thought it was time to buy Baba, they ban short selling, and shut the door on foreign investments. India is doing great and for some reason, Japan even better, but clearly an energy drinks company is where it is at. Celsius is up 4655% in the last 4 years, and who needs semiconductors anyway?