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Trackmate : June 8, 2024

Good Evening, Trackmate Readers!

Guess what? We're back! 🎉 We know you missed us, and we've got some exciting news to share. Welcome to Trackmate, your go-to source for the latest financial insights. Let's dive in!

💡 Feature Story: 📈 Feature Story: Roaring Kitty's Comeback and GameStop's unfortunate demise

Remember "Roaring Kitty" aka Keith Gill? He made waves back in 2021 when his advocacy for GameStop sent its shares soaring by 1,600%, turning him into an internet hero. Now, he's back with his first livestream in three years, drawing in nearly 600,000 viewers. Despite his efforts to hype up GameStop, the stock plunged 40% after the company announced a $3 billion share sale.

Why Does This Matter?

This shows how much retail traders still love taking risks on stocks like GameStop. For investors, it’s a reminder to base decisions on solid research. Gill’s livestream, full of memes and cautious advice, highlighted the risks involved. As GameStop tries to reinvent itself under CEO Ryan Cohen, the market is watching closely.

Thinking of jumping on the meme stock bandwagon? Stay sharp and do your homework. GameStop’s ups and downs are a vivid reminder of the highs and lows of speculative trading.

Stay informed and cautious, and most importantly, have fun! 🌟

📊 Investing 101: Make a Simple Budget for Investing

Creating a budget for investing is crucial to ensure you're not overextending yourself financially. Here’s a simple step-by-step example:

Determine Your Monthly Income: Let's say you earn $3,000 a month after taxes.

1. List Your Monthly Expenses: Calculate your total monthly expenses. For example:

   • Rent: $1,000

   • Utilities: $200

   • Groceries: $300

   • Transportation: $100

   • Entertainment: $100

   • Other expenses: $300 Total Expenses: $2,000

2. Calculate Your Disposable Income: Subtract your total expenses from your income. $3,000 (Income) - $2,000 (Expenses) = $1,000 (Disposable Income)

3. Set Aside a Portion for Investing: Decide how much of your disposable income you want to invest. A good rule of thumb is to start with 20%. 20% of $1,000 = $200

4. Allocate Funds to Different Investments: Spread your $200 across various investment types to diversify. For instance:

   • Stocks: $100

   • Bonds: $50

   • Savings account: $50

🔥 Hot Stocks to Watch: Nvidia (NVDA)

We’ve talked about Nvidia in the past, and it continues to be a hot stock to watch. Currently trading at $1,208.88, Nvidia is still a stock worth considering for various reasons:

1. Stock Split and Growth: Recent stock split makes it more accessible to investors.

2. AI Leadership: Leading in AI technology with high demand for its H100 chips.

3. Strong Financial Performance: Record first-quarter results with significant sales and earnings growth.

4. Future Prospects: Ongoing innovations and strategic partnerships in AI and data centers.

Legal Disclaimer: Trackmate is dedicated to providing educational financial analysis and insights. This is not investment advice. We are not liable for any decisions made based on this content. Always conduct your own research and consult with financial professionals before investment decisions. Investing carries risks, including the possible loss of principal.

We're excited to be part of your financial journey, offering insights and information to navigate the complex world of stocks. With Trackmate, you're more than just a reader; you're a savvy investor.

Here's to making informed and strategic investment choices!

Warm Regards,The Trackmate Team