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Roaring Kitty took a stake in Chewy | China's got problems with its manufacturing game [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for July 2nd in 3:08 minutes.   🗳️ Your vote can help change the future of a country. Join us for [Election Special: What Investors Need To Know Before Voting]( on July 3rd, and find out how the right moves could change the fate of your portfolio, too. [Grab your free ticket]( Today's big stories - Keith Gill, a.k.a. “Roaring Kitty”, caused yet more ruptures in the stock market - Take some Marie Kondo wisdom to your portfolio and toss what doesn’t spark joy – [Read Now]( - China's patchy stats showed exactly why its stock rally ran out of puff The Cat Has Got Its Bone [The Cat Has Got Its Bone] What’s going on here? Filings out on Monday revealed that Keith Gill, a.k.a. “Roaring Kitty” – of GameStop trading frenzy fame – has [chowed]( down on pet food ecommerce retailer Chewy. What does this mean? Gill filled his pockets with a 6.6% stake in Chewy, making him the company’s third-biggest shareholder. That stake’s valued at an eye-watering $245 million, based on the closing price of Chewy’s stock on Friday. And true to his reputation as a social media maverick, Gill floated the news on X (formerly Twitter) by posting a dog resembling the Chewy logo on Thursday. Investors have seen Gill’s hints pay off before – ahem, GameStop – and they initially sent the stock up 35% that same day. Why should I care? For markets: Leading a merry dance. Gill’s cult-like following has been summoned by his return to social media after two years of silence. And that presence is backed up by the books: Gill now owns around $450 million of stock in GameStop and Chewy, made up of around nine million shares in each. It just so happens that the current CEO of Gamestop was the founder and CEO of Chewy, too. The bigger picture: The faint-hearted, beware. Chewy’s stock closed at $27 on Friday – and based on the company’s earnings, that’s a reasonable price. But the stock’s likely to become a lot more volatile now. Its price should rise if Gill’s loyal followers copy him, and it looks like more than a few investors have already pocketed their profit. Case in point: Chewy’s stock opened on a high on Monday, but has since dropped to 5% lower than Friday’s closing price. Remember, too, that Gill has a reputation of playing with hedge funds, propelling a stock and forcing big-money investors to cover their negative bets by buying more shares. You might also like: [Here’s what really drove the GameStop frenzy.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=The Cat Has Got Its Bone&utm_campaign=daily-global-02-07-2024&utm_source=email) Analyst Take The Perfect Time To Spring Clean Your Portfolio Is Right Now [The Perfect Time To Spring Clean Your Portfolio Is Right Now]( It’s rarely a good feeling to look at [your portfolio]( and be left wondering why on earth you bought some of the stuff in it. It’s even [worse]( when you scroll through your list of holdings and find a share you barely recognize. But the truth is, it’s all too common for an investment mix to become a jumble of [mismatched assets]( over time. Thank goodness there’s a [simple solution](: now and then, you just need to sort through your portfolio and do a little tidying up. That’s today’s Insight: [how to keep your portfolio shipshape](. [Read or listen to the Insight here]( SPONSORED BY DIREXION Seize the day Traders don’t see disaster when markets move quickly like they are today: they see opportunity. 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The leveraged and inverse ETF utilize derivatives, such as futures contracts and swaps which are subject to market risks that may cause their price to fluctuate over time. The leveraged and inverse ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index or underlying security for periods other than a single day. The leveraged and inverse ETFs may also subject to leverage, correlation, daily compounding, market volatility and risks specific to an industry, sector or company. The non-leveraged ETFs are subject to certain risks, including imperfect index correlation and market price variance, which may decrease performance. The non-leveraged ETFs may invest in a relatively small number of issuers and, as a result, be subject to greater risk of loss with respect to its portfolio securities. The non-leveraged ETFs may experience greater fluctuation in its net asset value as compared to other investments. The non-leveraged ETFs may be appropriate for investors with a long-term investment time horizon, who primarily seek capital growth, and who are able to tolerate periods of prolonged price declines. Please read each ETF’s prospectus for a more complete description of the investment risks. There is no guarantee that an ETF will achieve its investment objective. Distributor: Foreside Fund Services, LLC. When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( 50-Spent [50-Spent] What’s going on here? China’s depleted manufacturing and services sectors [fell]( short of the magic number. What does this mean? China’s official manufacturing purchasing managers’ index tracks the country’s factory activity levels. In June, that measure came in at 49.5 – below the 50 mark that signals expansion, and the same as May’s figure. See, while a sub-index that tracks production rates did eke out a win of slightly above 50, plenty of other indexes came in below that all-important number and dragged the average down. They included new orders, raw material stocks, employment, supplier delivery times, and new export orders. Why should I care? Zooming out: Patience can be a virtue… or a vice. China’s long-awaited recovery is keeping investors twiddling their thumbs. Measures of non-manufacturing activity in construction and services dipped to 50.5 in June from May’s 51.1 – the lowest since December. That’s threatening China’s target of 5% economic growth this year. And potential tariffs from the US and Europe – two of the country’s biggest customers – aren’t helping either. Investors are eagerly awaiting China’s Third Plenum later this month, where major policy shake-ups could be revealed. For now, though, they’re cautious: the MSCI China index picked up by 23% between January and early June – but since then, it’s been losing ground. The bigger picture: America has a distraction. The US economy is showing cracks too, but it can rely on tech giants to push up the stock market. That much was clear in “equal-weighted stock benchmarks”: while the S&P 500 index gives more weight to the Magnificent Seven, these benchmarks give disruptive tech as much space as industrial bellwethers. And last month, they fell even further behind. So with stateside companies’ balance sheets shaken up by higher interest rates, you can see why Citigroup’s US Economic Surprise Index – a measure of how economic data is living up to expectations – hit its lowest point since August 2022. You might also like: [That old diversification advice could be hurting your returns](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=50-Spent&utm_campaign=daily-global-02-07-2024&utm_source=email) 💬 Quote of the day "Reserve your right to think, for even to think wrongly is better than not to think at all." – Hypatia (a Greek philosopher) [Tweet this]( The events that every investor should know about Every investor should be keeping up with [global elections](. The outcome can directly dictate a country’s fiscal policies, which feeds straight into [stock market performances]( – and that impact isn’t always localized. So with the UK and France headed to the polls soon, you need to know how different outcomes could play out, what the market expects, and what happens if those predictions are wrong. And most importantly, you should know [how to prepare your portfolio before it all goes down](. Join IG’s chief market analyst Chris Beauchamp at our next event, then, and [find out what investors need to know before the votes are counted](. [Get Your Ticket]( 🎯 On Our Radar 1. Media storm. How Game of Thrones [took over the internet](. 2. Theory will only get you so far in the real world. Here's how to [master options trading](.* 3. A wild ride. Evidence, for the first time, shows that [butterflies can fly 4000km]( over the Atlantic ocean. 4. Back to the futures. Get to the root of trading futures and (why you’d want to) with this [free guide](.* 5. No one-stop shop. There’s no cure-all [weird health hack](, despite what the internet might tell you. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🤩 Grab your tickets... 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