Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.
$Trump Media & Technology (DJT.US)$On Wednesday, a contract was signed for the acquisition of almost all assets of WorldConnect Technologies (WCT) or its subsidiaries in a trade for all stocks.
This transaction aims to provide linear television streaming services for the media company's planned content distribution network (CDN)- initially through the Truth Social platform and later through an independent application.
In April of this year, DJT.US announced plans to launch a video streaming platform and stated that it will introduce live TV into its Truth Social network in three phases.
The announced acquisition mainly involves certain agreements, including option agreements between WCT, Perception Group, Perception TVCDN, and Forum Računalništva (FORA), as well as certain CDN agreements.
DJT.US is expected to obtain a global non-exclusive perpetual license to new CDN technology intended for its content distribution network from Perception Group and its global affiliates. The agreement also includes the accidental opportunity for DJT.US to directly acquire Perception in the future.
At the same time, the operation of Perception in the areas that may compete with DJT.US on the US market will face certain restrictions within five years.
This transaction will be financed through the issuance of up to 5.1 million shares of DJT common stock and $17.5 million and is expected to be paid within three years upon completion of the transaction.
It is expected that the transaction will be completed on the day when the company implements the Perception software and network, and all backend API services are widely available on iOS, Google/Android, and web media services and enabled for streaming from at least one datacenter.
In addition, DJT.US has finalized a long-term equity financing arrangement to support its expansion over the next three years.
Under the standby equity purchase agreement, the company will have the right to issue up to $2.5 billion of common stock to Yorkville Advisors within three years. Yorkville will pay a subscription price per share that is 2.75% lower than the market price.
DJT.US plans to strategically use the agreement to raise and deploy capital for its global strategy.
Editor/Lambor