Bireme Capital sells Netflix and reduces Meta position, adds short position in Apple

  • Wealth managers Bireme Capital warns of downside risks in the market
  • Bireme has sold its Netflix position and significantly reduced its Meta position
  • Bireme remains short on Tesla and has added a short position in Apple
  • Bireme recommends investing in Snowflake, GitLab, or Datadog
  • Bireme has taken a new position in British American Tobacco and shorted Clorox and Tootsie Roll Industries
  • Tech stocks are leading the market, with positive stock futures
  • Amazon, Meta, and Apple are expected to deliver strong earnings
  • Merck & Co. beats earnings estimates, while Shell announces a buyback
  • New York Community Bancorp issues a profit warning
  • Weekly jobless claims and fourth-quarter productivity data are due today

Wealth managers Bireme Capital have issued a warning about downside risks in the market, citing sticky inflation and unsustainable fiscal policy. They have sold their position in Netflix and significantly reduced their position in Meta, while adding a short position in Apple. Bireme recommends investing in Snowflake, GitLab, or Datadog. In addition to their tech moves, Bireme has taken a new position in British American Tobacco and shorted Clorox and Tootsie Roll Industries. Tech stocks are leading the market, with positive stock futures. Amazon, Meta, and Apple are expected to deliver strong earnings. Merck & Co. beats earnings estimates, while Shell announces a buyback. New York Community Bancorp issues a profit warning. Weekly jobless claims and fourth-quarter productivity data are due today.

Public Companies: Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), Facebook (FB), Alphabet (GOOGL), Meta (META), Netflix (NFLX), Tesla (TSLA), Arm Holdings (ARM), C3 ai (AI), Snowflake (SNOW), GitLab (GTLB), Datadog (DDOG), British American Tobacco (BTI), Clorox (CLX), Tootsie Roll Industries (TR), Amazon (AMZN), Merck & Co. (MRK), Shell (SHEL), Exxon (EXXON), New York Community Bancorp (NYCB), Aozora Bank (8304)
Private Companies:
Key People: Ryan Ballentine (Co-founder of Bireme Capital), Evan Tindell (Co-founder of Bireme Capital)

Track all markets on TradingView

Factuality Level: 4
Justification: The article contains a mix of factual information about the performance of certain stocks and speculative opinions from wealth managers. While some information is based on actual data, other parts of the article contain subjective analysis and predictions. The article also includes unnecessary details about unrelated topics, such as jobless claims and random reads, which are tangential to the main topic of Big Tech holdings.

Noise Level: 3
Justification: The article contains a mix of relevant information about Bireme Capital’s investment strategy and holdings, as well as some unrelated information about market performance and random reads. The article lacks scientific rigor and intellectual honesty as it does not provide evidence or data to support its claims about the companies mentioned. Overall, the article is filled with noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: The article discusses the performance and changes in holdings of Big Tech companies, which can impact the stock market and investor portfolios.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article primarily focuses on financial topics, specifically the performance and changes in holdings of Big Tech companies.

Reported publicly: www.marketwatch.com