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what's going on guys it's kyle welcome to the stock goat youtube channel in today's video we're gonna cover the overall market we will also cover the sofi stock be sure to smash the like button for the youtube algorithm so more and more people can see this video and learn more about the sofi stock don't forget to drop a comment guys today was an extremely rough day we had more headlines come out the ceo of jp morgan uh jamie dimon came out with some headlines we're gonna cover that inside of this video so today was another rough day along with yesterday with the biden a pal meeting they just don't stop coming out and giving us you know bad news it just is a rough market we're in because the media is gonna take hold of any attention of any bad headline and run with it and the stocks are gonna start selling off so you already know the drill we're gonna take another shot of the 12 new amsterdam you can see i'm finally starting to get a dent into this bottle because you know why not you know get a buzz relieve the stress and you know that's just the way it goes in the 2022 stock market era whoo rough every time and only if you enjoyed this video be sure to subscribe to the channel we will be keeping you updated daily let's get into it all right guys we can see the stock market was a little bit red on the indexes it just felt way worse inside of the growth stocks s p 500 down uh three-fourths of a percent dow down a half a percent nasdaq 0.72 russell a half percent even oil was down we could see the sofi stock got hammered today i mean we went down to the 698 range we were down about seven percent at one point i believe had a little bit of bounce at the end of the day finished down 5.7 no news at all it still amazes me how this stock can move five to eight percent off no bad news at all for the company i mean there's some big money in here big shorts that have massive control to move this stock and it's just crazy to me how much the volatility is and this is even really a penny stock you know this is a pretty big company you know six to seven billion market cap at some point and it's just crazy that you know you see the stock down seven percent off no bad news from the company as we can see here anthony noodle bought a hundred and fifty thousand worth of shares 21 000 units at about seven dollars and seven cents increasing direct ownership to 3.3 million shares so anthony nota continues to add i mean you need to think about how many hundred and fifty thousand and three hundred thousand dollar buys this man has done you know over the past you know two months i mean it has to be over at least uh 10 buys in my opinion so people that keep making fun of his small buy saying it's nothing compared to his compensation i mean he's probably bought over you know three and a half million dollars you know the past you know a couple of months so he is definitely getting his you know uh you know stock base you know up even higher i mean three and a half million shares i remember it was at 2.8 to 2.9 million uh just a couple of months ago so he is really starting to uh you know average down at these levels this gets me very excited why because we are in q2 right now and we are in june so think about this for a second january february march that was q1 april and may are done we're already 66 done with q2 we are in q2 the last month this means you know a big quarter is coming for so far another blowout quarter is going to happen in my personal opinion but we'll take a look at some of the other competitors that got destroyed today we can see coin pace is down 12 on the day this stock is moving like a penny stock as well a firm down 14 and a half percent this is the ultimate day trading stock in the short term right now this stock goes up 20 down 20.
it's because of that low low uh outstanding share base i personally believe we also have robin hood down about seven percent on the day we need to pass up robinhood okay they're at nine bucks it's time for sofi to make its way to nine bucks robin hood should not be higher than us i don't care how much cash they have look at the revenue growth they are going backwards forty percent so once again i do not care about their cash this stock is not growing right now for a full year they're just going to be sitting there at the same level that they were at last year so if i needs to pass them up now here are the headlines jamie dimon says brace yourself for an economic hurricane caused by the fed and ukraine war this is on cnbc we also have fox business jamie dimon warns of economic hurricane coming brace yourself and then we have cnn business brace yourself for an economic hurricane jamie dimon says so these are throughout all the media outlets guys and this is the headline that for some reason really destroyed fintech i want you to see the overall market but we're going to listen to you know what the analyst said and also jamie dimon said and we'll just review those videos but let's just take a look at the overall market first we can see here we're following 105 growth stocks a firm was down the worst today followed by coinbase and upstart was also down eight and a half percent so we could see fintech got absolutely hammered today so why is jamie dimon bringing down fintech that is so strange to me why fintech sold off faster than any other stocks today just scared the market i believe there was some short selling going on today uh followed by his comments so it's just a very strange day so far down 5.7 so you can see you know there was a lot of red let's just take a look at the top green we had salesforce they had a good earnings report dutch bros sentinel 1-3 so nothing really did that good today everything was up in the green maybe one to three percent so stocks just were flat or red today and fintech took the beating it's just disappointing market you know screw it i'm just gonna take a second one i can't i'm just very disappointed that you know jp morgan got us down six seven percent today we need to take another one so we'll listen to the power lunch this is as soon as the uh headlines for jamie a diamond came out warns of economic hurricane let's just take a look at what a cnbc was saying of a coming economic hurricane that's from jamie dimon underscoring concern in the market that the fed's rate hikes could lead to a recession cnbc.com's hugh sun is following the story hugh where did he make these remarks and in what context yeah so this is a new york financial conference and look i mean this is only nine days from when jamie diamond last addressed investors the investor community and said you know there are there are storm clouds that are gathering but they could dissipate now today just nine days later he's really deliberately raising the red flag saying we're we're in a calm before storm and that people think that the fed uh you know can manage through this and handle this uh and clearly you know the stock market has has kind of brought along that narrative and yet he says that there is a storm hurricane coming we don't know how severe it is but it will be a full-blown hurricane yeah and the thing hue that's interesting to me is that the markets have been better over the past nine days rates have been better behaved and yet jamie dimon himself said i said there's storm clouds but i'm going to change it it's a hurricane so he has significantly downgraded his assessment of the outlook at the same time the market's actually kind of i don't want to say upgraded it but has been more comfortable lately now that's certainly the the case he's downgraded his forecast you know what he's looked at specifically is quantitative tightening clearly this 95 billion up to 95 billion in in bond purchases that are going to you know get it uh going to get reversed you know the balance sheet of the fed is going to shrink uh you know he's looking at oil you know he's looking at oil at up to 175 a barrel he's looking at uh you know federal mortgages going up to perhaps uh you know 10 delinquency which would be a huge increase he's looking at the traditional buyers of u.s treasuries uh essentially you know disappearing and pointing to you know 10 years ago in the response to the last crisis and saying like these are the you know the purchasers of of us bonds they helped that last time they are going to be awol this time according to diamond one of the things hugh that that's very interesting to me is his emphasis on the unwinding of cons of quantitative easing uh which is is it is truly and i hate the cliche uncharted territory because we've never been here before we don't know what the unintended consequences of that that sopping up of the cash that was flooded into the system is going to imply or mean for businesses and and human beings well that's certainly what jamie dimon's saying he's saying you know investors as we know crave certainty and you know here you have you know a multi-decade uh you know chief of the biggest uh u.s bank you know and times the biggest bank all right he's right there's definitely some big big you know headwinds coming up but you know why does he change his outlook in nine days he just said oh things are looking decent nine days ago and now he's saying the world is ending or something like that hurricane sandy i mean this guy is kind of suspect at this point okay 175 dollar oil the war in ukraine he's starting to hype up again uh the quantitative easing a 95 billion dollars a month or something like that i get it but man why do you change your outlook in nine days that's not very professional in my personal opinion all right and we're also going to listen to jamie dimon going over his outlook real quick it was 23 seconds this is actually the you know media new york conference or whatever it's a hurricane it's right now it's kind of sunny things are doing fine you know everyone thinks that the fed can handle this that hurricane is right out there down the road coming our way we just don't know if it's a minor one or superstorm sandy or uh yeah sandy or or uh andrew or something like that and it's you you better brace yourself all right guys so he's saying he doesn't know if the hurricane's a category one or a category six or whatever it is i mean it seems like he's kind of guessing and just racing for the worse so we don't know but just know that you know jp morgan is you know a legacy bank they have massive massive revenue tied to russia they have massive revenue tied to mortgages and they just reported negative growth last quarter of like negative four percent or something like that so they might be looking at negative quarters for a while while so far on the other hand is going to be blasting out 40 50 60 quarters because of a well-diversified business not in russia you know ukraine you know i believe you know so far is not correlated to jp morgan at all and you know uh the legacy markets for sure so if i put out excellent guidance for q2 the ceo is buying i just don't think all companies are built the same and there's not a big reason for fintech to be selling off the way it is today because of a legacy ceo's comments what i think everybody should really be looking at is you know not guessing and actually waiting for the data and the data is going to be on june 10th the new cpi report that comes out and if we get into under the seven percent or under the eight percent range of you know year over year if it actually comes down to the seven percent range we could see a massive rally inside of the market that the you know rate hikes you know actually made a small dent but i really think we need to get past these next two rate hikes of 50 point and another 50 point for uh you know june and july and i really think we're gonna get this inflation under control but you know jamie dimon you know 175 oil uh he has a lot of business he had in russia big business and mortgages i think he's really trying to brace investors for you know jp morgan's very awful earnings you know heading their way i mean we're talking negative growth last quarter they might see another negative growth quarter this upcoming quarter so uh i'm just not feeling his comments on a you know they don't know if it's a category one or a category six hurricane that's just very very interesting that these comments came out and you know fintech is selling off so aggressively today it's just a very strange market we're in and that's why you see me taking shots you know as i'm filming this video and if you maintain the video i want to say i really do appreciate it i enjoy doing this video for you we just need to remain patient and understand this is a market correction you have a lot of fear inside of the media and they're going to run with it anytime there's a bad headline you know pal powell python meeting up ceo jamie dimon a hurricane they're just going to continue to run with it and stocks are going to sell off that's just how the algorithms are programmed to do there's a lot of computer trading getting retail to sell the stock market in the short term is built to make you lose money because a lot of people are trying to get rich quick and as you can see i mean we're talking an eighth month correction and the only way you can really make it inside of this market is just holding and waiting for this correction to end we have to remain patient let's wait for the cpi data let's not go off of guesses of a category one or a category five hurricane we need to remain patient once again my name is kyle hope you have a great day
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