Keith Gill's Latest Target

Tesla deliveries are coming soon, and Keith Gill has a new stock to pump July 2, 2024 | Peel #742 Silver Banana goes to... [Luca Faloni. ]( In this issue: - 👩‍⚖️ The Supreme Court just upended 40 years of precedent for industries - 🚗 Tesla deliveries are coming, and Keith Gill has a new stock to pump - 🛩 Boeing is finally coming under some scrutiny Market Snapshot 📸 = Banana Bits 🍌 - Treasury yields are rising after President Biden reminded us why [65 is the retirement age](=) - This U.S. Business Snapshot [looks surprisingly good]() - Paramount is finally admitting Paramount+ is a feature, not its own service, and is [looking for partners](=) - The Supreme Court’s been busy, including with this [ruling related to Trump](=) It’s Finance Bro Summer - Dress Like It. Apes, we’ve all heard the news - 2024 is the summer of the Finance Bro. We might not all have been born “6’5, Blue Eyes, Trust Fund”, but with Luca Faloni, we can all dress like it. 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[Dress for the life you want today with Luca Faloni]( Macro Monkey Says 🐒 The Chevron Reversal Gambit Despite the evisceration of credibility afforded to the U.S. Presidency over the last ~100 hours, one branch of government is, like a Ringling Brothers elephant, desperately trying to escape the circus. The Supreme Court just overturned 40 years of court precedent to return to the previous 195 years of court precedent. Most Supreme Court decisions are unbelievably boring and meant for an audience of overpaid nerds. But this one has implications reaching from local fishing companies all the way to Fed Chair Powell’s front steps. Let’s get into it. What Happened? In 1984, the Supreme Court established a seemingly innocuous precedent in the case of Chevron v. Natural Resources Defense Council. The decision required courts to defer their interpretation of “ambiguous statutes” to an agency rather than adhering to their own. This has since been known as the “Chevron Deference.” [Source]( And almost everyone wants it overturned. An example of how this works, the Fair Labor Standards Act leaves unclear whether “time spent commuting to and from work” counts as hours worked. The DOL says it does not, so prior to last Friday, courts had to adhere to that interpretation. But, say you’re paid hourly and WFH. Then, one day, your boss requires you to go into the office. Since you’re taking time to commute that would usually be spent working and earning, there’s an argument that the commute should count as hours worked. Prior to this Friday, courts had to adhere to the DOL’s decision, so you couldn’t get paid for your commute unless your boss loves giving away free money. After Friday, a court could force your company to pay you for the commute even if they didn’t want to. This has been an issue because deferring to an agency’s interpretation of an ambiguous statute essentially allows the agency to create regulations at will, which is considered unconstitutional. And it’s not just a theoretical problem. According to Bloomberg Law, when Chevron deference is used in a case—thus handing interpretation to an agency—and a corporation challenges the agency’s interpretation, agencies win ~70% of the time. [Source](=) Regulatory overreach in cases of Chevron deference is hated by corporations almost as much as hiring Gen Z employees. This is primarily true because agencies are not bound by “stare decisis,” a legal principle in which courts adhere to prior decisions or “precedent” unless the prior decision was erroneous, inconsistent, or obsoleted. So, in theory, agencies could change their interpretation from case to case based on a perceived or actual desired outcome of the agency. Now that agencies have lost this ability, corporations can expect a more predictable, accountable, and transparent environment with increased scrutiny and decreased regulatory overreach. The Takeaway? The issue came down to the question of “How should courts approach statutory interpretation when a federal agency provides a reasonable but ambiguous interpretation of a law? The Supreme Court answered that courts should independently interpret statutes without deferring to federal agencies' interpretations. This decision emphasizes that it is the judiciary's job to interpret laws and that agencies' interpretations should not automatically be given deference in the face of statutory ambiguity. Corporations are loving it as this strengthens the Rule of Law in the enforcement of industry regulation. What's Ripe 🤩 Tesla (TSLA) 📈6.1% - Does the [4th Cybertruck recall](=) count as negative deliveries? I'm not sure, but we’ll find out today when Tesla updates us on Q2 delivery numbers. - Q1 was the first decline in deliveries since 2020. Without a pandemic to blame it on, analysts freaked, setting low consensus expectations for Q2. - As of now, “experts” anticipate 441k total deliveries, an implied 13% jump from Q1. Shares are rising on the optimism, but we’ll find out soon if that’s valid. Coinbase (COIN) 📈5.0% - There’s a lot going on in digital assets—not any actual innovations, but a helluva lot of trading. So, Coinbase has been busy. - The firm just partnered with Stripe to speed up transaction processing. Meanwhile, they also just decided to throw hands with the SEC and FDIC. - But, amid the faster transactions and fresh lawsuits, BTC prices have continued to rise, up 2.4% in the last 24hrs to $63,790. What's Rotten 🤮 Chewy (CHWY) 📉6.6% - Oh f***ck me. Keith Gill, a.k.a Roaring Kitty, has selected another company to pump, loading up on 9.001mn shares (~$228mn)of Chewy. - Chewy, founded by current GameStop CEO and Gill’s rumored lover, Ryan Cohen, is catching the meme stock momentum. - Then, shares tumbled immediately as actual adult investors bailed out of this schizophrenic nightmare. Gill now owns ~6.6% of Chewy. Cruise Stocks (NCLH, CCL, RCL) 📉6.0% 📉5.4% 📉1.9% - For most companies, blaming “the weather” for poor results is laughable. But for cruise companies, their business really does blow with the wind. - And on Monday, that wind was locked into a Category 4 hurricane that just hit landfall on Grenada. - Shares fell on the potential destruction of assets and lower demand in the region. More important is the humanitarian crisis, so prayers up to all involved. Thought Banana 🤔 Boeing’s Busy Weekend 5-years after causing the death of 346 individuals, Boeing is finally getting some scrutiny. It took less time to get Ted Bundy convicted, so, glad to see the military-industrial complex is working just how Eisenhower predicted. Anyway, in addition to a fresh DOJ investigation, Boeing also agreed to re-acquire Spirit AeroSystems this weekend, the company’s old fuselage maker. Let’s talk details. What Happened? First, the acquisition—on Monday, Boeing kickstarted the week by getting back together with its old lover, Spirit Aerosystems. But Boeing is only acquiring the company’s U.S.-based operations, including the two core plants in Wichita and Tulsa. Airbus, Boeing’s only real competitor, is acquiring Spirit’s loss-making European operations. For the American operations, Boeing will pay $37.25/sh, a ~13.4% premium to Friday’s close, giving Spirit an implied enterprise value of $8.3bn. All three stocks moved higher on the news, with Boeing up 2.5%, Airbus up 2.95%, and Spirit up 3.35%. Meanwhile, Boeing was busy with a hot, new investigation from the Department of Justice (DOJ) related to fatal crashes and other errors with their popular 737 MAX plane model. [Source](=) Boeing caused the deaths of 346 people in 2018 and 2019 on Lion Air Flight 610 and Ethiopian Airlines Flight 302, both crashing and killing all on board. In 2021, Boeing agreed to pay $2.5bn as punishment. However, after that door blew off another 737 MAX in January, the DOJ re-opened the inquiry. Now, the Justice Department is seeking a guilty plea from Boeing in addition to the $2.5bn. A guilty plea doesn’t change much for victims, but it would add significant hurdles for the company to win government contracts, such as the one recently earned to enlist its Starliner spacecraft as a ferry for NASA astronauts to and from the ISS. Oh, and by the way, the Starliner project was years overdue and >$1.5bn over budget. Plus, Boeing has to keep reassuring the public that the astronauts on board are “not stranded” in space, always reassuring. Boeing blamed pilots in the 2021 deal, but now, the DOJ is targeting management. The plane maker would also have to pay an additional $247mn in fines and install an outside monitor of Boeing. The Big Question: How can we ensure Boeing and other plane makers adhere to safety standards? Where will Boeing stock be in 1, 5, and 10 years? Banana Brain Teaser💡 Previous 📅 A researcher plans to identify each participant in a certain medical experiment with a code consisting of either a single letter or a pair of distinct letters written in alphabetical order. What is the least number of letters that can be used if there are 12 participants, and each participant is to receive a different code? Answer: 5 Today 🕐 David has d books, which is 3 times as many as Jeff and 1/2 as many as Paula. How many books do the three of them have altogether, in terms of d? Send your guesses to vyomesh@wallstreetoasis.com Wise Investor Says🤓 “My investment in GameStop was based on the fundamentals” — Keith Gill Today's Peel? 😁[All the bananas]( 😐[Meh](=) 😩[Rotten AF]() Happy Investing, David, Vyom, Jasper & Patrick [ADVERTISE](=) // [WSO ALPHA]() // [ACADEMY]( // [COURSES](=) // [LEGAL](=) [Unsubscribe]( IB Oasis Corp. (aka "Wall Street Oasis") 14435 Big Basin Way PBN 444 Saratoga, California 95070 United States