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Today is Thursday, June 13, 2024.

The Early Bird Index today is 73.90.

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PRESENTED BY MEGACHARTS

Nvidia’s Incredible 3,000% Growth, Explained

Shares of Nvidia (Nasdaq: NVDA) are up over 3,000% in the last 5 years. But beyond the chart, what metrics specific to Nvidia can investors view to truly understand what’s behind this company’s incredible growth?

By Segment: Data Centre, Gaming, Professional Visualization, Automotive, OEM and Other.

By Geography: U.S, Taiwan, China, Other Countries.

By R&D: R&D Expenses and R&D Spending as a Percentage of Revenue.

Final Thoughts: The research platform MegaCharts has free charts with all this data for Nvidia. Check out MegaCharts today and become the smartest investor out of your friend group.

Broadcom's 10-for-1 Stock Split

The incredible year for Broadcom (Nasdaq: AVGO) continued with strong financial results on Wednesday, sending shares of the semiconductor company up 14.57% in after-hours trading.

Financials: Broadcom reported earnings of $10.96 per share and revenue of $12.48 billion; both were better than expected.

Details: The company experienced an AI bounce, with revenue from AI products reaching a record $3.1 billion in the quarter. Overall company revenue jumped 43%.

• A big reason for that AI revenue increase is because Broadcom acquired VMware.

Powering the Story: The real excitement comes from Broadcom announcing a ten-for-one forward stock split for July 15. This will lower the stock price (divide the stock price by 10), but you get nine additional shares in July for every share of Broadcom stock.

Background: Rival Nvidia (Nasdaq: NVDA) just completed a similar stock split.

Stock Price: Broadcom was up 37% in 2024, including an 11% gain in the last 30 days.

Final Thoughts: As long as AI is in demand, Broadcom remains set for growth.

Notables

Notable Earnings Today: Adobe (Nasdaq: ADBE), RH (NYSE: RH), Signet Jewelers (NYSE: SIG), Lovesac (Nasdaq: LOVE), Korn Ferry (NYSE: KFY), Wiley (NYSE: WLY), AMMO (Nasdaq: POWW), High Tide (Nasdaq: HITI), Iteris (Nasdaq: ITI), RF Industries (RFIL).

Notable IPOs Today: Sila Realty Trust, Inc. (NYSE: SILA), Churchill Capital Corp IX Ordinary Shares (Nasdaq: CCIX), Gold Royalty Corp. (NYSE American: GROY).

Notable Equity Crowdfunding Campaigns Ending Today: Jupiter Moon Ice Cream (Honeycomb), The Gabriels Channel Drop (GigaStar).

Notable Economic Events Today: Jobless Claims (8:30 p.m. ET), Produce Price Index /  Core PPI (8:30 a.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Dave & Buster's Comp Store Sales

Dave & Buster's Entertainment (Nasdaq: PLAY) plunged 10.63% in after-trading on Wednesday after reporting disappointing financial results.

Financials: Dave & Buster's reported earnings of $1.12 per share in the past quarter and revenue of $588.1 million; both were worse than expected.

Details: Revenue fell 1.5% in the quarter, while comparable store sales decreased 5.6%.

Background: This marks the second time this year that the company reported bad financial results.

Stock Price: Dave & Buster’s was down 7% this year before these results.

Final Thoughts: Dave & Buster’s decline might have something to do with reduced consumer spending in 2024, as consumers are opting to spend less on arcade games.

Virgin Galactic’s Reverse Stock Split

Virgin Galactic (NYSE: SPCE) did the opposite of Broadcom on Wednesday by announcing a 1-for-20 reverse stock split. The stock fell by 9.60% in after-hours trading.

Details: A reverse stock split consolidates shares. For every 20 shares of Virgin Galactic, shareholders will get just 1 share worth 20 times the current value. This will happen on June 14.

Final Thoughts: The stock is down 64% this year. Virgin Galactic can’t catch momentum in 2024.

Trends to Watch

Fed Up: Fed Projects Just One Cut This Year Despite Mild Inflation Report (Wall Street Journal)

Incredibly Important: What ETF Approval Could Mean for Ethereum (CoinDesk)

Major Questions: Here’s what’s next for Paramount after Skydance deal is stopped in its tracks (CNBC)

Top of the Mountain: Apple Briefly Surpasses Microsoft as Most Valuable Company (Barron’s)

High Network Activity: Why is Solana (SOL) price up today? (Cointelegraph)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}