Well folks, another one of my stocks just flipped some flapjacks. Amazon earnings are out. I'm going to give you my take on what's going on with Amazon. Is the stock still easy money? Where's the stock headed from here? I want to talk about that at the top of this video. Then I want to react to this on X here today. Public count hit a new all-time high and closed at a new all-time high here today. $3.85 million. I want to speak about that a little bit and uh kind of get folks out of scarcity mentality a little bit here. I think I think it's an important subject. SoFi, we got to talk about SoFi in this video. very very interesting things going on with SoFi and in in terms of where that stock's headed. After we get through that, I'm looking forward to reacting to Tom Lee. He went on CNBC about an hour ago or so and uh spoke about his views on where the markets headed from here. So looking forward to sharing my opinions and perspectives there. Figma, they went public here today. Shares went absolutely ridiculously high. Um I'll tell you if I have any plans on buying Figma shares and kind of my thoughts and opinions on this subject. Then I'm looking forward to reacting this little one minute clip here on Malcolm ECridge selling PayPal. So that's a stock I own. So I thought that would be an interesting one to react to. And then Josh Brown JB, he bought more Shake Shack. That stock was crashing. So I guess he bought more. So I want to share my opinions, perspectives on Shake Shack. Do I see better opportunities out there than that stock? One thing, one thing only. I need from you guys. I need you to smash that thumbs up button. I do these videos for you guys almost every single day, Monday through Friday. And all I need from you is one thumbs up, man. I hope you can do that for me. I hope that's not too much to ask, please. And also, thank you everybody that does that for me. It means the world. Additionally, if you want to be subscribed here the channel, you can certainly subscribe. We are now at oh gosh 103 or 104,000 subscribers here on the reaction channel. So, I appreciate y'all for being here. Okay. All righty. Amazon, right off the bat, major position for me. Major investment of mine. Here's a deal with Amazon. Listen, this earning was a banger. Okay? I don't care what they say. The revenue was up almost $20 billion on a year-over-year basis. And that's despite all the tariff drama in the quarter. That's despite the horrible consumer sentiment that we experienced during the quarter. That's even with the horrible investment sentiment. Everything like that. Everything was so bad, right? And yet Amazon found a way to grow their revenue almost $20 billion in a threemonth span. Who else is doing that? Who else is doing that? Insane. Additionally, net income was up nearly five billion dollars in the quarter. Think about that. On the bottom line, they brought in almost an additional $5 billion in a threemonth span versus this same quarter last year. And this same quarter last year was a banger. Unbelievable. It was an A+ income statement from the company here. Now, the one thing that people could poke at here is AWS, Amazon Web Services. They say, "Hey, Amazon Web Services, the growth rate, you know, under 20%, we're seeing some other cloud providers grow faster." Those sorts of things, right? A few things here. First off, Amazon really focuses on efficiency last couple years in regards to their cloud business and cloud product. And so, my belief is they're trying to keep their customers as lean as possible so their customers stay with them, right? I believe Amazon's playing a dollar game right now. Additionally, let's be honest. Who's the big dog player in cloud by a mile and a half? Amazon. The other players, it's much easier for them to show much faster growth rates because Amazon's so much bigger, right? I own Google stock. Google reported extremely strong cloud number. But listen, Google and cloud's a joke compared to Amazon. Okay? It's just facts. It's not a debate. It's a fact. Okay? Listen, I own AMD. AMD is a major investment of mine, right? AMD's got a very exciting next few years ahead. AMD's growth rates, revenue growth rates for the next two or three years is going to far exceed Nvidia. It's not even going to be close in my opinion. But guess what? Nvidia is still going to be doing way bigger numbers at the end of the day. So, the thing you got to keep in mind here is AWS is still a very fast growth business. They're putting up incredible numbers. They are the still the biggest player in this market. And the moral of the story is the company brought in an additional almost $20 billion top line and almost $5 billion extra on the bottom line. So where is Amazon stock headed from here, right? Listen, tomorrow, who knows? But the moral of the story is here. Amazon's on its way to 250 and 275. And I think it's happening quicker rather than later. Okay. The bottom line is if you want a diversified giant that is putting up these sorts of numbers, you got to go Amazon. Amazon, in my opinion, is a musthown in every single portfolio out there. I don't care if you're a retail investor. I don't care if you're a hedge fund manager. I don't care if you run an long only portfolio. Everyone has to own Amazon. It's a It's one of the very few stocks that I think should be in every single portfolio. I don't even know if I'd say that about Meta, even though Meta has been a far better investment for me over time, right? Made me so much money and Meta is still a buy today. Even with all that, I I've always viewed Amazon as the must own because you get the e-commerce side of the business and you get the cloud and you get the advertising side of the business. It's just like everybody should. And the another reason I think everybody should own Amazon is I bet you every single person just about watching this video right now, you shop on Amazon. It's like it's like giving back to yourself. Okay? You probably spend $1,000 a year on Amazon. Maybe thousands of dollars. Some of you guys watching this, you probably spend $10,000 plus a year on Amazon. At least own the stock. Give back to yourself. It's a it's a nice get back. Okay. And so the moral of the story is here in regards to Amazon. It's going higher. Okay. What happens tomorrow, who knows? But the moral of the story is Amazon's going higher. This is I mean the numbers are beautiful. It's beautiful. Okay. And Amazon's still a buy tomorrow, by the way. It's a buy. Like anybody that gets the dip tomorrow, it's a buy. If there's even a dip, by the way, there might not be a dip on Amazon. Like don't be surprised if the stocks ends up green. Like I wouldn't like if you told me like the stock's red right now, it's been red about 4% here recently. Four or 5%. If Amazon was green tomorrow, would I be surprised? I would not be shocked at all if Amazon was green tomorrow. At the end of the day, how many of these stocks do you have have in the market that are really that great a companies that are really able to come in with nearly $20 billion of revenue growth on a year-over-year basis? Like you just it's a 101, man. So, they'll buy the dip on it. And if it's not green tomorrow, it'll be green probably by the, you know, next week. Like, they're coming. They're coming. They're going to buy more Amazon. buy more Amazon. Once the growth rates really shrink on the total side, then it'll be different. And and by the way, they crushed they crushed revenue and EPS estimates, right? No, $3.85 million here today. Public count, new all-time high close for the public count. Um, a few things here. Meta, Meta should have been up more than it was today. Like, Meta should have been up in the 15 to 20% range. So, don't be surprised if you see continued momentum in Meta over the next few weeks. like I wouldn't like if Meta hits an eight in front of it in the next few weeks, I wouldn't be shocked at all. I'd be like, it's probably about right. Um stock should have been up more. It was a very weak day in the market today. It was a lot of just I don't know what happened like the the market just kind of sank, you know, and it was just kind of one of those type of days when the market just needed to sink. And so Meta to still be up 11 12% range on a day like that, very impressive. And so my opinion is if we see any strength in Apple and Amazon tomorrow, don't be surprised if Meta continues to see momentum. And um yeah, like like Meta's Meta's Meta is going to 850 before you know it. Like bottom line, you know, what happens in the next 24 hours, what happens in the options market? Who knows? You know, that that can shake things around. But the moral of the story is Meta's headed to 850. Now, as far as, you know, one other big thing I just want to make, you know, in regards to I don't know if you guys are familiar with the term scarcity mentality. Scarcity mentality is a mentality in which I I think a lot of people can can relate to this. It's a mentality in which you believe there's like a finite amount of resources, like it's really hard to gain wealth and and everything's so difficult and those sorts of things, right? And so you have this like view of man it's really hard to make money in this world. It's really hard to It's almost the opposite of like a billionaire mentality, right? Like like imagine imagine you have the brain of Jeff Bezos for a moment, right? Could you imagine having his brain his brain has to be so in abundance mentality it's got to be ridiculous because like everywhere Jeff Bezos looks like Jeff Bezos could create a billion dollar business in a snap of the fingers. Like literally like he can snap his fingers and create a billion dollar business. Elon Musk can create a billion dollar business in the snap of like they're on such a ridiculously high level because they've made so much money. They've had so much success. They're so naughty scarcity mentality. It's ridiculous, right? No. When you haven't climbed the ranks yet, you can have a lot of scarcity mentality. A lot of fear about like I don't know, can I actually grow my wealth and and these sorts of things, right? This listen today, you know where I took a walk to? I took a walk and I showed my kids the new JP Morgan Chase building. Okay. The new corporate building. It's a three billion dollar building they built, right? Beautiful. Beautiful. Right across the street is their old corporate building that they still use, right? The new one looks like it's still at least a few months away from opening. $3 billion they're spending on a new building. $3 billion. $3 billion. Okay. There's no lack of money in this world. There's so much abundance and it's all out there for you to get. And whether that's through your job, through your business, right, through your investments, there's so much money out there. I mean, you come to a city like I'm in right now, New York City, what do you see? Abundance. You see a lot of abundance. There's so many people with so much money here, so many people making so much money, right? You could just walk by a guy, you know, on the street who makes $10 million a year. You can walk by another guy on the street here that's got a net worth $250 mil. Like, you know, it's just so much abundance. You know, you even come to my city, Vegas. There's a lot of abundance in Vegas. Like, so many wealthy people, so many famous like, you know, uh, people in entertainment industry have moved out to Vegas like, you know, just filled with millionaires, multi-millionaires, and and even people with, you know, nine figure, 10 figure net worths out there, right? But New York City is like a whole another step up there. So don't ever think like there's a finite amount of money in this world. Don't get in that scarcity mentality. Try to break yourself from that. Try to get yourself in a more abundance mentality. And the more success you have, the easier it will get to get that abundance mentality, right? And so just something to always keep in mind uh with you guys out there. And for those of you guys that are looking to take your mindset up to another level, right, and learn to want to learn all the skills, my private stock group, that will be the pin comment down there if you're looking to apply for that. All my access to course curriculums, access the private Discord chat. Like we have so many people in the community, right? Like think about who you're surrounding yourself with in a community like that. It's people that have six figures, multi6 figures in stocks, seven figures, eight figures, right? Like we receive applications for the private group on a daily basis and every day there's at least one person in there it seems like that's either already millionaire status or even eight figure status, right? Like it's it's insane. And you know the amount of millionaires and multi-millionaires, remember to be in the seven figure club in the private group, you've got to have at least a million dollars just in stocks. That's not net worth. That's stocks. You have to show proof of having at least a million in stocks. So the amount I I mean I probably have I probably have at least a thousand members in the private stock group that have a net worth of over a million dollars. Like it's just filled with millionaires. And so you know if you want to be around a higher level group of folks that are doing big stuff like that's my private group that'll be pinned comment down there. And um let's get you up to a higher level. Get you out of scarcity mentality. Get you an abundance mentality because uh you know that that mindset switch is is big right? It's big. Next up here, SoFi. You know, is exactly what I said was going to happen with SoFi, happened with SoFi. You know, I told everybody in my private stock group in the SoFi chat the other day, I said, "Don't be surprised at all if this dip in SoFi gets bought right up." And sure enough, look at SoFi today. Trading higher than it was even before the whole um share dilution came out. Right now, here's the thing with SoFi and where SoFi stock is headed from here. Okay, listen. SoFi is one of the hottest games in town. When I say one of the hottest games in town, it's probably I I would view it as one of the top 10 most attractive stocks in the stock market for people that are growth investors. Because when you look at SoFi's revenue growth, you know, posting what was it 40% plus revenue growth. When you look at their bottom line growth taken off like a rocket ship, when you look at some of their growth categories in their business model up 60% plus, it's hard to find those sorts of opportunities. It's and then you take it into the fintech and banking space and it's almost impossible to find those sort of opportunities. And so when you get an opportunity like that, it's the hottest game in town. And so I really view SoFi as arguably the hottest stock in the market when it comes to the fintech banking category, whatever you want to categorize it as, right? You know, you look at um you know, Coinbase, you know, Coinbase, you know, not as exciting to a lot of folks. You know, we're starting to see Bitcoin falter a bit. Um we're not seeing as much momentum as a lot of people were hoping to see in altcoins given the stage of the market we're at. And people are like, I don't know about Coinbase, you know, uh Robin Hood, the momentum starting to stall a little bit there in regards to Robin Hood. Still very good numbers, but you can see the momentum in the stock starting to stall. So doesn't have that. So just posting more and we don't even know where the top is for SoFi's growth rates. That's the thing. We know where the top is for Robin Hood. We know where the top is for Coinbase. And those are really the the only two stocks I can think of in fintech or banking related that are even can be in the same category as SoFi, right? But we know where the top is for Robin Hood. As soon as this market starts to break and we go into bare market, you know, that's a top because their assets will start going down, a lot of retail investors will leave the market as they do in every single bare market, right? Uh Coinbase, same exact thing. We know where the top is for Coinbase. As soon as Bitcoin starts going down again, right, and we get into a bare market around crypto, Coinbase is going down. Like, it's just as simple as that. And the numbers are going down. SoFi, we don't know where the top is because the numbers are so ridiculous. The growth rates are so ridiculous and that's despite everything going on. So, you know, SoFi remains one of the hottest games in town. And um incredible, man. Absolutely incredible stock to own and be part of. Next up here, Tom, broader point I'm making. You you take a lot of I will say it's a family network doodoo for being bullish all the time, but you've been right. Like when you've been bullish and held strong and held fast when others were cutting their S&P forecasts, people gave you grief, you've been right. Do you worry? Is there any part of Tom Lee that worries at all? Not the drummer. That worries at all that things are getting a little frothy. Um Brian, we we've seen markets get frothy. Uh and correct. I've been covering markets for 35 years. So, you know, I was went through 99. Um, we went through 2019 and 2022 and the 2021 top that was painful into 2022. That's insane. Amazon beat by over $5 billion analyst estimates. Who else Who else could do that? could beat analyst estimates by five billion plus dollars. I don't know of another company out there that can do that. Not even Nvidia at this stage can beat revenue by 5 billion plus. That's ridiculous. What? What? Um, and I'd say that signs of a top are really reckless use of borrowing at a time when cycle indicators are at a top. One thing to be mindful of in 2025 is that the ISM manufacturing hasn't stayed above 50 for 29 months. That's the longest stretch in history. So, we know businesses have been ultra cautious um despite what people say is froth. I mean, maybe the Robin Hood community is quite enthusiastic, but in in a general sense, because Fundstrat has, you know, 10,000 RAIA clients and over 400 hedge funds, our community of of clients is is not that enthusiastic. I think it really does sync up with the 7 trillion of cash that you see. People are cautious. And when people are cautious at the top, as you know, that's not bell ringing. That's generally more midcycle. Yeah. I'm going to give I'm going to give another stat here from I don't want to steal what he just brought out there. It's the truth. I mean, when you really when you're really in trouble is when it seems like everybody's a bull. And if I take you back to late 2021, everybody was a bull. I'm just going to be honest with you. Like, it was hard to find anybody bearish. Like, I remember that second half of 2021 interest seeming like everyone was bullish. Everyone had good things to say about the market. It's only going higher. blah blah blah and then we got hit with a nasty bare market in 2022, right? I mean, the NASDAQ peak to trough was down around 38%. From the peak at the end of 2021, right, which was in Q4 to that trough in Q4 2022, like NASDAQ was down like 37 38% peak to trough, like nasty. S&P 500, I believe, was down 25%ish, if not more than 25%. I mean, yeah, but but do we have that right now? I I mean I watch these Wall Streeters all the time talk on CNBC. Most of them are very cautious. Like I wouldn't call them bearish, but they're very cautious. But these earnings keep coming in strong like they're coming in. I mean Apple's numbers, Amazon numbers, Meta's numbers. I wouldn't be surprised if these Wall Streeters flip in the next couple months. And it all seems like pretty euphoric, especially once we get the trade tariff drama behind us and then people start getting excited about cut next cut cycles here. Then it seems like we could get to a place where all these Wall Streeters will be super bowled up. That's when I get concerned. That's when I get very concerned, ladies and gentlemen. People's stats without giving him credit. My friend and colleague Max Meers says that. And so what am I going to do when that happens? When all these Wall Streeters start going really all bullish? What am I going to do at that time? Am I going to sell my stocks? The answer is I'll take some profits as I've been doing, right? But what I'll really look at doing is I'm going to look to hedge at that particular time. When I when if this market runs runs runs for the next few months and then next thing you know, it seems like every Wall Streeter out there is as bold up as can be, I'll start to hedge my portfolio. I don't really have any hedges on it other than cash right now. I am holding a good amount of cash around. But um yeah, we go we we go too bullish here. Uh yeah, I'll look to hedge my portfolio, but you know, right now I'm kind of like, eh, it's all good. Like the market goes down short term, like I got plenty of cash to buy with. I'm not that concerned. We go up a bunch more, you know, another 10 percentage points in the NASDAQ over the next few months, then I'll start to head. Meta and Microsoft now have the combined market cap of the entire Tokyo stock exchange. Every company in Japan, the world's fourth or fifth biggest biggest economy, every company combined is now the same size as just two American companies. In all due respect, it's such a silly It's not fair. It's not fair, man. Like, it's just it's unfair to Japan. It's unfair to Meta and Microsoft because it's just there. So they're at such a different level. You know, I remember in sprinting, this was around like 2009 or so, Usain Bolt and Tyson Gay were by far and away the best sprinters at that particular time, right? And Nasafa Pal was there as well. You guys probably have no clue what I'm talking about right now cuz you're not in sprinting. That's fine. But the moral of the story is these few guys were like at the top and then everybody was pretty far behind them. Like you know, a tenth of a second and sprinting 100 meters is a lot. And so the moral of the story is like no one stood a chance against those guys. And so to be comparing um you know Japanese stocks against Meta and Microsoft, it's so not fair those Japanese companies cuz they're not even in the same category. It's like if you were comparing Usain Bolt in 2009 versus like, you know, I don't know, a college sprinter or something like that or high school sprinter. Like it's just not fair for anybody involved. like they're they're not even on the same they're not they're not they shouldn't even be on the same track. Okay. And that's the moral of the story here. Does does that kind of stuff worry you, Tom, or are we that much better? Are we deser is our system better? Our company's better? We deserve that. Well, I I like Max's stats, but one thing Max should keep in mind is that if you look at uh earnings growth since 2019 to now, the US has left every other country in the dust. India is the second closest but almost 20 percentage points behind. Of the top 25 profitable most profitable companies in the world today, 21 are US companies. So there's a reason Microsoft and Meta dwarf other countries. They're leaders in innovation and and if we look at what really is the juggernaut of the US economy, it's technology and led and spearheaded by AI and now digital assets, but it's also financial innovation. And that's Jamie at the helm there. the leadership of these two sort of things driving the US economy are kind of unassalable. So in my opinion I I think it's justified that these are the largest companies in the world. Not 110 212% above Yeah. But the the oh gosh listen the world runs on Microsoft. The world runs on Meta. Like almost everybody uses one of Meta's platforms. you know, in the developed world, almost everybody uses either Facebook or Instagram or WhatsApp, like you know, I'm just sorry, but no Japanese company has that sort of that's why like it's such an unfair like comparison. Like who are you going to what Japanese companies are you going to compare to Microsoft? Like no one's even in the same stratosphere as them. Like the world runs on Microsoft. They got one of the best best business models in the history of the world. Like it's so unfair, man. It's just ridiculous. It's just a such a ridiculous comp. is no different than saying like my Meta's got a bigger market cap than like I don't know the other 460 smallest S&P 500 companies or something like that like okay yeah their business model is better like it's IPO price of 33 you heard Craig earlier and we're all getting to you know we've been we've all been around the block a few times Tom we see that Craig was clearly nervous right he was talking about froth and comparing it to 99 talking about Apple and I don't you Craig's gone, so I don't want you to go after him too much cuz he's not here to defend himself. But do he had a point, I think, right? Like there's no harm in being a little nervous when meme stocks are going up 40% a day again. Yes, Craig Craig brings up valid points. Uh I was an equity analyst when Craig was at Bernstein, I believe. So we're we were peers at that time. And in the 99 period, uh, the companies that were commanding these eyepopping valuations weren't really central to any thesis except that they were sort of names, you know, whether it was pets.com, etc. What we're seeing in these pops, whether it's Circle, which was an astounding IPO, or now Figma, is this is really a function of scarcity, right? that there is very few new ways for institutional investors and retail to get exposure to an AI name that isn't already a Mag 7. So you're right there there is price discovery, but Circle's held on to its gains. In fact, it's built upon it. So if it was a bubble, that's not the kind of bubble that I'm used to seeing. I think if Circle had re round tripped back to its opening price, that would be disappointing. But you know, it opened at 77 and it's now at 185. Yeah. So, here's a deal with Figma, okay? And uh we're still a little later on get into if I'm interested in buying the stock or not. But here's a deal with Figma and why that stock's going up so much. It's going up so much for two reasons. Okay? First reason, everybody wants a piece of Figma. Everybody want like Figma is extremely well known on Wall Street. Figma is extremely well known from the investment community, right? Uh the business community. A lot of people have started to use Figma over the last five years or so, right? Uh Adobe tried to buy them a few years ago, which at that time was like a $20 billion valuation. That was several years ago at this point in time, which kind of gave even more proof to like what Figma was up to and where they were going. The fact that Adobe would bid that much for Figma, right? And so that that's huge like like people wanted it, right? And second thing is there's been hardly any IPOs the past like two years. So the p if not the past three years actually there's been hardly any IPOs the past three years and so when you finally get an IPO that people are like let's go like this it's a lot of excitement there a lot of excitement in this so this was not just some random company this is a big deal like the fact that Figma went public is a big deal almost everybody that runs a business business knows of Figma in the investment community figma is huge before when IPO wasn't like you had to pitch people on Figma This wasn't a pitch. Like people knew it. People wanted it. So, you know, that that's what really happened there. And it's just there hasn't been anything going public for like three years now. I mean, the IPO market's been dead for years. It's not going to stay like that, by the way, but it's been dead for years. And and and we've talked about three companies in the last few minutes. Coreeave obviously sort of lease it for lack of a better. By the way, companies should be rushing. If if you have any ambition to IPO in the next few years, you should be rushing to IPO right now because there's a huge market for IPOs. The market's at all-time highs, which is always a great time to go public. And additionally, there's just such an appetite. If you have any sort of good interesting business model with growth for the next 5 10 years, you should be going public right now because you will be able to raise a lot of money in this market. the term leasing out space for AI. Circle stable coin company kind new bank maybe if you will I'm speaking in very general terms and Figma which I as I admitted earlier I don't I don't use I don't work for a startup I I don't know it I have a job so I I don't go do other things. Um they don't have anything in common except Tom that a lot of people want to own them. That's right. And you know there is what is obviously obviously going to be price discovery taking place because just because Figma is commanding this valuation doesn't mean that the 20 other startups behind it will get that valuation but we also know that the economy is changing rapidly because of AI and so if Figma is a way for people to enable themselves and to for startups to move faster in a world of AI and then it itself is inherently AI I'm not making any opinion or judgment on Figment Figma itself. I I'm thinking sorry to interrupt Tom because I'm I don't want to lose my thought because you know my age we I lose thoughts quickly. Um I feel like in my career 30 years doing this long time this is like the third complete transformation of business. The first one was literally you and I are about the same age or we can say we watch the internet be created right. I was on I was on a message board in high school in 1987, right? I we we we used to use digital a fake digital currency in the '9s down in Blackburg, Virginia on the Blackburg Electronic Village. The creation of the internet was round one. The software is, you know, and that included Global Crossing and like the physical buildout. The softwareization was sort of round two, right? Where the worldwide web became a visual medium, software was built. I feel like with crypto and everything else, this is kind of the third wave and the history books will write about this moment. Is that too much? Uh, I think you're spot on, Brian, because we're really seeing actually sort of a dual movement at this moment because AI and the digital world and chat GBT have made people comfortable with sort of interacting with this sort of digital agentic world and now there's going to be robots and things that are ingesting additional data at the same time that the White House has really pushed the US in a quantum way forward on digital assets using tokens. Today the SEC wants to financialize the entire financial system onto the blockchain, but the blockchain is where everyone meets. That's how you control robots. This is a you're exactly right. It's a really important important moment and companies like Figma sort of are going to play a role. We're trying to figure that out, but you're right and it's coming at a time where this probably strengthens the US lead. So I know Max might his next update might be that Microsoft is bigger than the entire continent of you know one of the seven and it it may happen. Yes. I mean isn't it that's funny. Now am I interested in buying a Figma stock? The answer is yes but not right now. Listen, Figma can go everywhere in the next month. Like I wouldn't be shocked if it went to 150 or 200. I'll be interested by Figma at some point in time. But guess what? Figma stock is going to crash epically. When does it happen? I can't predict that. But I can tell you, I don't think I've ever seen a stock go public and the stock price shoots up. I don't think I've ever seen one ever where it didn't crash within the first year or two of it going public. I don't think I've ever seen it. Like literally like if I think of every IPO like they might go up at insane for that first day, that first few weeks, maybe even the first few months and they always crash. Always. It works like clockwork, man. It's just a question of when does a crash happen? Does a crash happen like, you know, in the second week, in the second month, or you know, right after it hits a year after its IPO? Like it never fails. It always happens. So, so Figma in the very very short term, who knows what can happen. Like company could go to hundred billion dollar market cap. I don't know. Um, but it's going to go through an epic crash as they all do and uh, Figma will not be saved. So, yeah, I might at some point in time might be buy Figma stock, but not right now. Way too many other good opportunities out there that are far safer. Now, next up here, this man sells PayPal. Actually, down year today, PayPal and you're selling right here. Yeah, they had a decent earnings. Stock's off what 20% or something year to date at this point. I initially bought it just on the expectation that Alex Chris after I think he was in the job for about a year already when I bought the stock and I figured he'd figure out a way to squeeze some juice out of the Vinmo product. It's very rare that a company manages to jump from proper noun to a verb and V Vinmo's in that rarified air, but they just haven't really figured out a way to do that. Everything's been focused on like click to pay and branded checkout and that just doesn't really excite me as a shareholder. There's a number of other fintexs that I could own, I do own. And so I just decided it's probably time to pull the plug here, spend those dollars elsewhere. You just can't get people to pay for Venmo is the bottom like they try to do pay by Venmo where the vendor like the e-commerce site, they would pay them something. There's very little uptake on it. And peerto-peer, nobody's going to pay for that cuz Zela is free. Call it Vinmo.ai AI and then we'll start to uh So, did you hear what that man just said? Isn't that amazing? He basically said what? He basically said, "I'm bored of the stock. This is not, you know, good numbers, but you know, not much going on here. You know, I'm moving on." It's exactly what I told you guys when I broke down PayPal. Was that two days ago or three days ago or whatever that was? I think I talked about on the main channel, right? I said, "That's the issue with PayPal. It's boring." Like, they put up very, very good numbers. Like, I think I grade their income statement, if I recall, was a B+. Great. Good revenue, right? Good profitability, good cash flow, big share buybacks, but it's boring. So, people view PayPal like they view Apple. Like, Apple people are just bored of Apple. Like, Apple still comes in like their I saw their latest numbers, very good numbers, and you know, people whatever. They're bored. They It has no growth. It's not, you know, that's the difference between like a PayPal and a SoFi. SoFi, everybody wants a SoFi because they got ridiculous growth. PayPal, put me to sleep. That's just that's just how they treat it, right? So, PayPal can still be a very good investment, right, with their good numbers, but it's boring. It's boring to people. Next up here, Shake Shack. JB buys Shake Shack. Yeah. Uh, they reported a great quarter. problem is the stock's up 100% going into the print from the April low was literally 72 and ran to almost 150. So today it's giving back some but when you actually look at the numbers they were really fantastic and Rob Lynch is doing everything that this company brought him in to do. Um earnings were uh uh 44 cents per share um which beat the analyst consensus revenue was $356.5 million. That was above consensus. That's up 12.6% 6% year-over-year. Same shack sales were up almost 2% year-over-year. Systemwide sales up almost 14%. And uh restaurant level profit, which I think is one of the key numbers for a company like this, hit 82.2 million. Um which represented almost 24% of of Shack sales. They they say Shaq, not store. But the key thing here is the expansion plans are well underway. Margins are improving both at the corporate level and at the store level. and everything that they laid out as their goals when Rob came into the company. Uh they're either on schedule or ahead of schedule. And as a result of that, I'm going to remain a long-term shareholder. Anytime a stock comes down 19% for no reason for me, I have to add. So that's what I did this morning. It's already looking like a smart decision. All right. Uh Shake Shack shares pulling back about 13 and 12% right now. So here's the deal with Shake Shack. Okay. I love the compare tool in 1000x because I can look at three stocks versus each other where they trade out and I can do that in a second, right? It's beautiful. So, uh oh, Apple CFO expects September quarter revenue to grow mid to high single digits year-over-year. Like that's solid number, but what does Apple stock do? Like they had great beats. Um that sounds good, too. You know, the stock's up 2% right now. You know, it goes back to the whole PayPal thing. You know, people just get bored of these companies. Like Apple put up very respectable numbers. People bored. Bored. No. Um, looking at Shaq versus, let's say, Cake, right? Cake trades at a forward P of 18. Shaq trades at a a Ford P of 89, right? Two-year forward P, 14 for Cake, 75 for Shaq, right? Um, am I interested in buying Shaq stock, right? Shake Shack, the answer is absolutely not. I want no piece of that stock trading at a at a two-year forward P where it's trading at. It's a burger joint, dude. Like big deal. Like I've had Shake Shacks plenty of times as another burger spot. Like burgers are solid. Expensive. Solid. Is it the best burger I ever had? Absolutely not. Um in that category is brutal. Brutal. Like you're competing against you got to compete against McDonald's. You got to compete against Burger King. You got to compete against regional places like In-N-Out, right? And Waterburger. You got to compete against Wendy's and all those lowerend burger places, right? Then you got to comp compete against like the Five Guys and all those type of companies, right? Then you got to compete against the mom and pop burger shops. It's it's a big category, but it's just brutal to to compete there over time to really make those sorts of big profits, right? And um you know, you say, "Well, they don't just sell burgers, they sell chicken, too." Chicken, it's even more competitive. Good luck going against uh you know, Raisin Canes. Good luck going against uh you know, uh Chick-fil-A, like you know, and some of these other I mean, it's just brutal. And so I just don't want any piece of that. I look at something like cake and I'm like cake has kind of like easy competitors to like beat. You know what I mean? Like Olive Gardens is, you know, has fallen so far in terms of quality over the last 10 20 years and uh in terms of restaurants and everything like that. Like North Italia's got a 10-year runway of growth to capture the big big market for Italian food across the United States over this next 10 years, right? Uh Flowerchild, you know, they're really created their own space and really doing their own thing. um with with healthy food that's really you can't compete them really against a teic or some other play like they're in their own like category. If you ever gone to Flower Child, you know what I'm talking about. So they got a 10-year runway of growth that's just extraordinary there. Why would I want to be in Shake Shack? Like I to pay a 70s something two-year Ford P for a burger place. Come on, man. And and not to mention like it's really concentrated there. I get cake. I also get Cheesecake Factory. one of the best restaurant concepts in history that just prints money. Like there's not even a question of would I rather be in Cake or Shack. And if I had to say who's going to perform better over the next 5 years, there's not even a question. Cake will crush Shack returns. Like I wouldn't be surprised if Shaq return negative return over the next 5 years. I wouldn't be like that wouldn't shock me at all. Like yeah, yeah, given where a stock was trading, I'm not surprised, you know, cake. Like would I be shocked if this stock returned to 2x over the next 5 years? Not at all. Especially when you factor in the dividend, right? So, just different opportunities out there. All righty, guys. Appreciate you joining me. Thanks so much. Uh, additionally, if you're looking to apply, join private stock group, private wealth group, get your investing game up to a much higher level than where you're at. Access to all my course curriculums, private Discord chat, thousandx.com. That will be pinned comment down there when you join us in there. Send your Steel membership card in the mail for the private group and your Steel membership card in the mail for thousandx.com. Much love and from NYC, have a great