Diamonds and Dogs

6/7/24

Defense stocks are performing well. Lockheed Martin (LMT) is up a percent near a 52 week high on news Germany is looking to buy eight more F-35 jets. Lockheed also secured a $1.9 billion contract for their HIMARS rocket systems a few weeks back. Not to be outdone, RTX is also trading at a 52 week high. The stock is up 25% year to date.

"Roaring Kitty" is back creating wild volatility in GameStop (GME) stock. The stock is down 40% trading on eight times its normal volume. The return of Keith Gill to YouTube caused volatility to swell today even as the video-game retailer unexpectedly releasing earnings and announcing plans to sell up to 75 million additional shares earlier in the day.

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