The New #2 Company In The USA

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Happy Friday! In today’s email:

  • The New #2 Company In The USA

  • Cathie Wood & Ark Invest vs Nvidia

  • Bitcoin ETFs Have 2nd Best Day In History

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The New #2 Company In The USA

We have some movement in the top companies in the USA. As of June 6th, Nvidia (NVDA) has overtaken Apple to become the second largest company in the USA. This has come after a crazy run for NVDA so far in 2024.

At the beginning of 2024, Nvidia was sitting at a $1.19 trillion market cap. Now, just 6 months later, over $3 trillion. Note: As I finalize this email before sending out, Nvidia has dropped back to the 3rd largest company by market cap. If you want to follow the changes, you can do so here.

What is the takeaway? Nvidia has had a great run these past few years. But does that mean it will keep going up? No clue. But it does bring up some interesting conversations, like the post below:

So what do you think?

Is Nvidia overvalued or Apple undervalued?

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Whiskey: A Hedge Against Market Volatility

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Cathie Wood & Ark Invest vs. Nvidia

What is the takeaway? Individual stock picking is tough, even for those fund managers. Ark Invest held nearly $1.4 million shares of Nvidia but has slowly been decreasing its ownership, all while Nvidia has pretty much only gone up.

For reference, here is the 5-year chart of the ARKK ETF. Not great.

Bitcoin ETFs Have 2nd Best Day In History

What is the takeaway? Bitcoin ETFs have seen some records (more below on a HUGE record a bitcoin ETF broke) but on June 4th, Bitcoin ETFs collectively had their 2nd largest day in terms of inflows of $880 million IN ONE DAY.

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