CRAZY STOCK MOVES BEFORE EARNINGS️

[00:00:01]Hey, hey, what's up, good people? How you doing? Welcome back to Stock Up with Larry Jones. We had a good trading session uh this morning in money moves.

[00:00:10]That's the top link below. And before I go any further, tonight at 7:00 p.m.

[00:00:15]Eastern Standard Time, that's 6:00 p.m.

[00:00:17]Chicago time. You guys know that's 5:00 p.m. for those of you in Cali. I will be going live. Stocks with Josh, uh Stock Mo, Keenan Grace, the squad will be live here. So, come join us tonight. Let's go over what's happening in the market right now. All right, these are some key market movers, Alphabet, of course, and Tesla report after closing bell. So, by the time you see this, there could be uh already uh they could be already reporting, should I say. Rocket Lab shares surge after securing a $266 million federal contract. So, for those of you that's in that play, congratulation.

[00:01:04]Amazon shares drop following a report of job cuts in its artificial general intelligence unit amid a strategic realignment. Okay, that's what they call it in it now, strategic realignment.

[00:01:19]SMCI just popped this morning. NGE uh GEV uh both saw shares rise following strong earning reports that highlighted record backlogs and growth in AI and energy sector, okay? So, we got these things going on. We know that the geopolitical situation, oil is rising because the war is actually ramping up.

[00:01:47]We hit them, they hit us. We hit them, they hit us. That type of deal. The president vowing to avenge the death of these young soldiers. Just remember there are people dying in multiple countries. And uh we just pray for peace for no more loss of life, okay? That's my stand. You stand however you want to stand, that's my stand. I pray for peace, no more loss of life. Now, listen, OpenAI. This is a crazy crazy story. Now, you would think that if you had a large language model or an AI model, that if your AI model went outside of the lines, that you would be quiet. No.

[00:02:34]A uh OpenAI is actually bragging. Some of these companies are bragging of how strong their AI models are. For instance, listen to this.

[00:02:46]>> Back in OpenAI model went rogue and hacked into another company all on its own. Kate Rooney has the details, Kate, and the ramifications of this.

[00:02:55]>> Yeah, Sarah. So, OpenAI is now claiming responsibility for what they're describing as an unprecedented cyber incident. The short version of all of this, OpenAI's models went out and hacked another company during a test run, which is known as an evaluation. It was essentially experimenting in a closed sandbox. It didn't have any internet access, but the AI found a way around all of that. It knew that the startup that it needed. It escaped that sandbox and then found a new vulnerability, exploited that on Hugging Face to get the test answer that it was out looking for. Hugging Face is an AI startup. It's backed by Amazon, Google, Nvidia as well. It did disclose this last week, guys, but said at the time didn't know who was responsible. OpenAI now saying it was us. They are investigating the incident. Another wrinkle in all of this, Hugging Face says it was actually trying to use some of the best American models out there to fix this and defend themselves, but it it actually blocked by the guardrails out there. It actually had to use an open-source model. It does all highlight the debate right now in Washington and Silicon Valley about cybersecurity as these AI models get a lot more capable. And then, who should actually have access to these models?

[00:04:03]There's also been a lot of attention on open-source. We've talked about Moonshots Kimi K3 out of China. It's seen as on par with the American labs in the US. The White House just confirming what many suspected claiming Moonshot copied Anthropic. This is known as distillation. They say they do have information that Moonshot was stealing proprietary US technology and then undermining American research calling it unacceptable, guys.

[00:04:29]>> So, there you have it. With no internet, literally no internet internet, >> [laughter] >> these AI models could find internet, go in, hack a system, and then build around a wall around it so other AI models can't. I mean, if this is not a sci-fi movie, what is? This is insane. And of course, uh you know, all of the companies when their AI models are able to do this, they're going, "Yep, we did it. We did it." This is insane, okay?

[00:05:04]Today, I saw a video of a driverless truck, all right? It just had a flat face and it was pulling weight on the back. It doesn't matter what industry you are in, AI is trying to take your job. Sorry to tell you, but it is.

[00:05:20]Listen, uh the the the ticker symbol I said I never was going to talk about again, SOXL, the one that I keep talking about, it's up again 4.3%.

[00:05:32]My money movers, I literally said you could put a trailing stop loss on it.

[00:05:39]Um don't be greedy because just like it's up today, it could be down tomorrow. Over the last week, it is up 30%.

[00:05:49]But, there's always a big butt in the room.

[00:05:53]45, you might as well say 46% down. Be careful. Lower lows, lower lows, lower lows, lower lows, about the same. Lower lows, okay? So, don't just look at I know I made a video 2 days ago talking about what could happen in August, September, and October. What historically has happened. Yeah, Larry, it may not happen again. Yep. It it it doesn't always do the same, but it rhymes, okay? So, somewhere around here.

[00:06:26]And then, of course, ticker symbol DRAM, okay? Ticker symbol d r a m is down a little bit. Now, there is a stock that we talked about that is has cratered. Of course, let's let's see why s m c i actually went up today. This is why it went up today. Super Micro stock jumps on gross margin raise amid record 60 billion backlog. They got so much business, they can't get to it. It's backlog. So, you're going to have conflicting reports with this AI and these chip companies and memory companies. One is going to say you're going to hear one day from all the news sources that the CapEx spend was too much. They put too much into AI and no return. Uh we're going to go to zero. And then, the next day, you're going to hear stories like this. Backlog. They they you know, back and forth, back and forth with the chips, memory, and AI, right? Just roll them all up into one big package. So, you got to make a a decision, right?

[00:07:45]What I'm doing now is buying dips and selling rips. Do I expect that things will cool off? Yes, and I'm expecting it now while you have time. So now, there's another small quantum computing stock that absolutely tanked today. And that's ticker symbol Here we go. Qubits, okay?

[00:08:08]It tanked today. Why?

[00:08:11]Look.

[00:08:12]Qubits Quantum offers up to 6.8 million ordinary shares for release or resale by seller shareholder SEC filing.

[00:08:23]AKA share dump. AKA share offering. AKA more shares hitting the market causing it to tank. Now, generally, let me be crystal clear.

[00:08:36]Generally, when this happens, I'll buy at that price because that represents a local bottom. But this time, I'm not dip buying because I see what I believe is going to be a cool off. Lower lows, lower highs. It's actually happening right now, though a lot are not paying attention to it. Now, remember, I want to leave this in closing.

[00:09:02]Remember what you're investing in.

[00:09:05]Know the nature of quantum computing stock. They are highly, highly volatile, okay? They are like a crap coin. You got to You guys have another word for it in the crypto.

[00:09:16]They have these big pumps and then they have these huge dumps. But remember, small cap, small stock. As a matter of fact, here you have ticker symbol QTEX, all right? The one we just got through talking about with the share dilution.

[00:09:33]Call it whatever you want to call it.

[00:09:34]The The result is the same. It dumps to that price, okay? Negative 25%.

[00:09:42]Ticker symbol IONQ was actually green today. Now it's down by 1.5%.

[00:09:48]Rigetti, virtually flat. QUBS, or should I say QBTS, is down by 2%. Which one would you rather be in today? Rigetti, of course, okay? High risk, high reward. Do not gamble, guys. Don't gamble, okay? You don't have to gamble. Now, I'm going to be on live tonight with the guys. You will see a video thumbnail in your box. Just click it and make sure that you watch us live, okay? Get notified as the four of us break down the stock market. Until then, hit more at the bottom of your device, and then go to the description and follow us in Money Moves. We will see you tonight live as we're going to bring the gems.