TMTB EOD
Good afternoon. QQQs finished up 40bps post a stronger NFP print. ARKK outperformed up 1.9% as did semis up 90bps. Crude was up 2.6% and BTC continued to rally up another 2%. Rally was led by highly shorted stocks which were up close to 4% on the day even though yields rose 8-12bps across the curve (2 year rose more than the 10 year).
In internet, PINS up was 2.6% on the back of BAML calling out positive US downloads (up 12% y/y) and a 3p boutique upgrading to outperform on the back improved Direct Links adoption driving mid-teens increase to CTRs and tone among partners improving as we head into 2024. RBLX was up 2.4% after Yipit reported bookings accelerated to over 30% from <20% in Oct. I definitely expected this to me up HSD% today given where sentiment is, but as I called out in my EOD yesterday, price action looks like there is some private selling going on again. As a reminder, Altos sold 6M shares in the 10 days post earnings and the pattern had been for stock to bottom T+1…
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