^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0830 - Initial jobless claims: Expected 223k; Prior 220k
0830 - Continued jobless claims: Expected 1.881M; Prior 1.874M

Crypto Stocks

-3.21%

Trading lower as a group in tandem with Bitcoin and Ethereum, both of which are trading lower by at least 2%. Bitcoin is poised to give up the last two sessions of gains, rejecting the $100,000 level and trading near $95,500 as of Thursday morning. Ethereum, meanwhile, has already erased gains from Tuesday and Wednesday and is trading just above the $3,300 level.

COIN, MSTR, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

NVIDIA Corp (NVDA)

-0.51%

On watch after closing above the key $140 level on Tuesday’s shortened trading session, its first close above this level in twenty trading days. Quant trader Peter DiCarlo emphasized that a push past $145 could propel the stock toward $170 in Q1 2025, but that a that a failure to break $145 might lead to a sell-off to $120; at this point, the stock could be set up for a rally in Q2. Separately, a report from Vanda Research revealed that the stock saw $30 billion in net inflows from retail traders in 2024.

Tesla Inc (TSLA)

+1.36%

Trading higher premarket after gaining more than 7% on Tuesday. This rally was apparently driven by comments from Elon Musk suggesting that Tesla could become more valuable than every transport company aside from Musk’s SpaceX. On Wednesday, Tom Zhu, Senior VP of Automotive, emphasized the company's strength in rapidly developing manufacturing capabilities tailored for the evolving AI era. Zhu praised Tesla's Shanghai megafactory as a key step in expanding energy storage production outside the U.S.

GameStop Corp (GME)

+3.56%

Trading higher premarket following another social media post from Keith “Roaring Kitty” Gill. On Wednesday, Gill posted a picture of a wrapped gift on X. The post, his first since December 5, caused GameStop and its eponymous meme coin to trade sharply higher overnight. GameStop has a short float of 8%; roughly 8.34% of the stock’s float was short as of Gill’s December 5 post.

Palantir Technologies Inc (PLTR)

+0.84%

Trading higher premarket following a strong showing during Tuesday’s shortened session. The stock reached all-time highs before pulling back, still ending the session just over 2% higher. Palantir is up 368.67% year-to-date as of Tuesday’s close; this makes it the largest percentage gainer in the S&P 500, an index it joined just three months ago.

Chinese EVs

+0.45%

On watch after Xiaomi CEO Lei Jun announced that the company’s electric vehicle owners will soon be able to access nearly 30,000 fast chargers from NIO, Xpeng Motors, and Li Auto through the Xiaomi app. NIO, the largest EV-charging provider among automakers, will share 14,000 of its 21,646 public chargers, while Xpeng and Li Auto will provide over 9,000 and 6,000 chargers, respectively. Li is trading sharply higher premarket with volume, while Xpeng and Nio are making marginal premarket gains.

LI, XPEV, NIO

Quantum Stocks

+0.73%

Many of the stocks in this group are receiving an influx of premarket volume with no particular catalyst. The group has been on watch since the election of Donald Trump as US President in early November, when they began to rally. This rally intensified after Alphabet announced its quantum chip, Willow, in mid-December, though the stocks have become less directionally correlated. Every stock in this group has a significant short float, ranging from 9% to 18.5% of the stock’s total float.

QSI, QS, QBTS, QUBT, IONQ, RGTI

Millennium Group International Holdings (MGIH)

+150.33%

Gapping up on no apparent catalyst. The stock has a float of 1.25 million shares and a market capitalization of $42.75 million.

Zoomcar Holdings Inc (ZCAR)

+118.88%

Gapping up after announcing that bookings increased by 43% year-over-year for November, driven by increased demand during the wedding season. The company also announced that it has updated its website to make it more user-friendly. Zoomcar has a float of 699,800 shares, approximately 2.66% of which are sold short.