"There is no force on earth more powerful than an idea whose time has come." - Victor Hugo
Bots in the News:
Despite a significant drop in the November Consumer Confidence, Black Friday (week, now!) proved the buying public is still alive and well. Together with stronger expectations for a December rate cut, investors drove the market firmly upward. The S & P 500 increased 3.73% and the Bot Index gained 4.32%.
The outperformance by the bots over the broad market was attributed to several components that rebounded from prior weakness. The best performer was the haptic company Immersion Corp., which gained nearly 19% despite a lack of news. The jump was accompanied by a near 2 million share volume on November 25. The eVTOL company Joby Aviation emerged from three consecutive weeks of down performance to jump 10.41%.
Similarly, shares of TSLA rose nearly double digits following their three weeks of weakness.
There were only four notable decliners within the Bot index for the week. The worst performance was turned in by two international components, who each slid 1.45%. The Chinese electric car company joined the Japanese manufacturer Keyence Corp. as leaders of the losers.
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The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any company that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective view of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of materials presented.
