TheDrop Market Analysis, 10/30/24

As election day quickly approaches, the stock market becomes more volatile than ever before.

All major index funds did fall today, but my very small margins, the largest being the Nasdaq with a 0.6% decline.

As expected, most companies are bearish today, but a few stand out as key outliers. Meta, the owner of Facebook and many other social media platforms, rose by 1% today. However, in the morning it experienced an even greater surge after a good earnings report, but its plans of increasing company expenditures caused the stock to come rallying down. Snap and Reddit, two of Facebook's competitors, also surged as earnings reports were strong for both.

Two key companies fell dramatically today: DJT and SMCI. Donald Trump's Truth Social, after becoming greatly overextended from its poll-induced rally, finally fell to a more sustainable level of $40 per share. Meanwhile, Super Micro Computer Inc. plummets after news of its accounting firm resigning.