BAC Reddit Mentions | ChartExchange

A handful of banks (5 that I’ve seen so far, PLMK if you find others) have been doing weird overnight glitches trading down significantly *similar to the GME glitches* (ICYMI: GME has dropped \~86% from \~$22 down to \~$3 a few times now. \[[Me on X](https://x.com/WhatCanIMT/status/2005674901542470000)\]):
* Morgan Stanley (MS) will drop **\~90%** from \~$180 down to \~$18. \[[Me on X](https://x.com/WhatCanIMT/status/2008036465360732289)\]
* US Bancorp (USB) will drop\~70% from \~$53 down to \~$16.
* Bank of America (BAC) will drop \~67% from \~$55 down to \~$18. \[[Me on X](https://x.com/WhatCanIMT/status/2005674901542470000), [9x](https://x.com/WhatCanIMT/status/2005667030977134731), [again](https://x.com/WhatCanIMT/status/2008179285748781531)\]
* Wells Fargo (WFC) will drop \~81% from \~$95 down to \~$18.
* JP Morgan (JPM) will drop **\~93%** from \~$320 down to \~$20. \[[Me on X](https://x.com/WhatCanIMT/status/2005674901542470000), [9x](https://x.com/WhatCanIMT/status/2005659283640525071), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1pkvv3h/jpm_overnight_dips_93_from_320_to_below_20/)\]
Here’s a collage of charts where you can see the bank “glitch dip” candles \[1\]:
https://preview.redd.it/quzfqmex5mbg1.png?width=5010&format=png&auto=webp&s=76c6602df6d732ed4e28f35622ac903acd427b98
What’s particularly interesting about these dips (levels marked on charts below) are that they all bring these bank stock prices down to 2008-2009 Great Financial Crisis levels. 🤔 *Curious coincidence, right?*
[$18 Morgan Stanley $MS$](https://preview.redd.it/b421m8t06mbg1.png?width=5074&format=png&auto=webp&s=67ad51d568f0e7ce9d9710442a27b64e72e9885c)
[$16 US Bancorp $USB$](https://preview.redd.it/llq4oyn46mbg1.png?width=5074&format=png&auto=webp&s=d8c6208661ff4ea1e57969d6a3dd92292c04c023)
[$18 Bank of America $BAC$](https://preview.redd.it/ezc3wen86mbg1.png?width=5074&format=png&auto=webp&s=21202f28e5f0e514b338b8760ccf60fce782c3dc)
https://preview.redd.it/ipf2z4bb6mbg1.png?width=5074&format=png&auto=webp&s=04ba943359f123334077dbed72c77e0c1c65a0b8
[$20 JP Morgan $JPM$](https://preview.redd.it/dol1l67d6mbg1.png?width=5074&format=png&auto=webp&s=c9104074efb17fe451de5b207d9ebb21b6691fd1)
The 180d collage view above also shows us these dips also started recently. So I marked the glitch dip dates into a calendar (Flamingo/Pink):
[Glitches Every Week](https://preview.redd.it/q4haxesm6mbg1.png?width=5412&format=png&auto=webp&s=2be3b72c90ae068ff6c4a6db53485a96d845f2d6)
**First glitch** I found was on Nov 3, 2025 by Morgan Stanley. Roaring Kitty’s showed us his broker was E\*Trade *by Morgan Stanley*; and E\*Trade wasn’t very happy about it \[[Reuters](https://www.reuters.com/technology/etrade-considering-kicking-keith-gill-off-its-platform-wsj-reports-2024-06-03/), [Reuters](https://www.reuters.com/technology/etrade-possibly-ousting-gamestop-bull-roaring-kitty-spurs-online-backlash-2024-06-04/), [WSJ](https://www.wsj.com/finance/regulation/e-trade-considers-kicking-meme-stock-leader-keith-gill-off-platform-f2003ec4)\]. 🤔
As [Shit’s Hitting Fan](https://www.reddit.com/r/Superstonk/comments/1pzk8gv/shits_hitting_fan/) (covers C35 settlement and T15C14 margin call deadlines), let’s look back to see what may have caused Morgan Stanley stock to glitch dip on Nov 3:
* Sept 29 (C35 before, exactly) there were reports of a Hedge Fund Down \[[Me on X](https://x.com/WhatCanIMT/status/1972673349663801434) predicted C35 🌶️; 🎯\] and the [Bank of Canada Overnight Repos](https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/overnight-repos/) loaned C$12B (\~$8.7B) \[[Me on X](https://x.com/WhatCanIMT/status/1972655264890528004)\]; which was the trading day after
* Sept 26 (end of a T15C14 FINRA Margin Call) when the [Bank of Canada ON-Repo](https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/overnight-repos/) loaned C$9.94B (\~$7.2B) on a nice green GME day.
There’s another settlement deadline (which I don’t often write about) that’s applicable here: **T13** from Rule 203 “Borrowing and delivery requirements” \[[LII](https://www.law.cornell.edu/cfr/text/17/242.203)\]. Under Rule 203(b “Short Sales”)(3) \[[LII](https://www.law.cornell.edu/cfr/text/17/242.203)\]:
>(3) If a participant of a registered clearing agency has a **fail to deliver** position at a registered clearing agency in a threshold security for **thirteen consecutive settlement days**, the participant shall immediately thereafter **close out the fail to deliver position** by purchasing securities of like kind and quantity:
\[w/”fine print” (e.g., exceptions and exemptions)\]
Basically, Rule 203(b)(3) says if someone has a FTD at a clearing agency for 13 consecutive settlement days (trading days, *generally*), they have to close out the FTD (unless one of the exemptions and/or exceptions apply). If we count backwards by T13 from Nov 3, we land on Oct 14 as T0 when GME dropped to $3 in the middle of the night \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1o6g3gq/presneeze_og_gme_naked_short_bags_being_juggled/), [X](https://x.com/MichaelTLoPiano/status/1978027330300743765) ([w/background](https://x.com/MichaelTLoPiano/status/1978094306830221586)), [Me on X](https://x.com/WhatCanIMT/status/1978153932082872415)\]. Interesting… but Rule 203(b)(3) requires a “**fail to deliver** position at a **registered clearing agency**”. As the day before Oct 14 (i.e., Oct 13) was not actually a settlement day despite being a trading day \[[DTCC PDF](https://www.dtcc.com/-/media/Files/pdf/2025/9/3/a9637.pdf)\], we look back one more settlement/trading day (i.e., Oct 10) and see: 916k GME FTDs plus 1M GMEWS (GME Warrant) FTDs *reported by the SEC as recorded in the National Securities* ***Clearing Corporation’s*** *Continuous Net Settlement system*. 🔔🔔🔔 *Bingo!*
**Morgan Stanley glitch dipped on Nov 3, 2025 when three (3) Regulatory Deadlines (C35 Settlement + T15C14 Margin Call + T13 FTD) hit together.**
# Glitches Galore!
Going back to my glitch calendar, we see that Morgan Stanley’s Nov 3 glitch dip was only the beginning… with more glitch dips from USB, BAC, MS, JPM, and WFC happening *every single week since*; most often on Sundays, Mondays, and *Tuesdays*. Why? Well, options expire Friday, are then assigned over the weekend, and due for settlement on Monday; which could then fail on *Tuesday* (❤️ Tuesdays).
So then I added CAT Error spikes to my calendar (Graphite/Grey) \[2\], which fills in nicely…
[Glitches with CAT Errors $Dec data N\/A yet$](https://preview.redd.it/8c3fjw367mbg1.png?width=3906&format=png&auto=webp&s=463654c5c28f2e9b03f654d0bdf722f7766add5b)
CAT Errors spiked Nov 4 on day after the first MS glitch dip with most of those CAT Options Errors. The nearest option expiration would’ve been the Nov 7 weeklies; and that expiration weekend we saw GME **LAST=$0.05** glitch dip (yes, a nickel for [LAST](https://toslc.thinkorswim.com/center/Glossary/L#:~:text=Last%20(Price),option%20for%20a%20trading%20session.)) \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1orncpv/holy_shit_im_putting_in_a_massive_buy_order_right/), [Me on X because I couldn’t believe it until I saw it with my own eyes](https://x.com/WhatCanIMT/status/1987195527243694353)\]. 😵‍💫
Then I wondered if anything interesting happened around this time… so I added some “Notable Events” to my calendar (Mango/Light Orange):
https://preview.redd.it/z6159mwg7mbg1.png?width=3906&format=png&auto=webp&s=f14c2bb56d99da4fc794f268db1b5c573f5b7088

[Glitches + CAT Errors + Notable Events $December$](https://preview.redd.it/qarf7lkj7mbg1.png?width=3906&format=png&auto=webp&s=510ebdbfda873d801a7f3753b9834949e9c0d032)
News of executives leaving Citadel (aka “rats jumping ship”) \[[Business Insider](https://www.businessinsider.com/business-development-execs-left-citadel-past-year-2025-11), [X](https://x.com/ReesePolitics/status/1985801694874059217)\] on the day after the first MS glitch dip; followed the next day by the Korean market halted down \[[X](https://x.com/FinanceLancelot/status/1985891293609017780), [X](https://x.com/MacroEdgeRes/status/1985878674605031598)\] with the Nikkei falling \[[X](https://x.com/peruvian_bull/status/1985907972317626466), [X](https://x.com/Barchart/status/1985889685638426836)\]. 🤯
Obviously had to continue digging at this point… and I’m glad I did because it revealed a very interesting sequence of events around these glitch dips:
* Nov 10: New (*literally*, just 2 months in) Citadel executive leaves \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1otw0qw/another_top_recruiting_exec_is_out_at_citadel_she/)\]
* Nov 18: CloudFlare Outage on C35 after GME Warrant related FTDs \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1p0da6n/cloudflare_outage_on_c35_after_warrants_related/)\]
* Nov 19: Bloomberg reported banks were so broke they couldn’t even borrow from the Federal Reserve “Lender of Last Resort” anymore \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1p1c3d7/banks_are_so_broke_they_cannot_even_borrow_from/)\]
* Nov 21: No bids for the Federal Reserve Overnight Repo \[[X](https://x.com/Investingcom/status/1991888502980829521)\] so then Japan steps in with ¥21T ($135B) stimulus package \[[YF](https://finance.yahoo.com/news/japan-oks-135-billion-stimulus-084321900.html)\]
* Nov 24: OCC Hedge Loan for GME spiked \[[X](https://x.com/JosephCobraKai/status/1993426574033797527)\]
* Nov 26: AWS Outage \[[X](https://x.com/downdetector/status/1993745850464452720), [X](https://x.com/Kalshi/status/1993750236477706322)\] and the White House goes on lockdown \[[Reuters](https://www.reuters.com/world/us/two-national-guard-members-shot-washington-dhs-chief-says-2025-11-26/)\]
* Nov 28: GME glitches to $3 (again) and the CME halted futures trading \[[CME](https://x.com/CMEGroup/status/1994351505864827086)\] allegedly due to [🐂💩](https://x.com/DarioCpx/status/1994263840582684909) [cooling issue](https://x.com/WhaleInsider/status/1994253525363179794) while silver ran \[[Dario](https://x.com/DarioCpx/status/1994298766925705401), [Dario](https://x.com/DarioCpx/status/1994257768195490182)\]
* Dec 2: $100B customer account glitch at JPM \[[Me on X](https://x.com/WhatCanIMT/status/1996019153707336107), [Me on X](https://x.com/WhatCanIMT/status/1996032455229538601)\] right after I connected prior $50B JPM customer account glitches to swaps settlement \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1pblznk/jpm_cooked_books_june_2021/?share_id=gy5Fnq41J_VS9DblLOagV&utm_content=1&utm_medium=ios_app&utm_name=ioscss&utm_source=share&utm_term=1)\] with the Bank of England warning of risks from hedge fund basis trades \[[X](https://x.com/kshaughnessy2/status/1995909067013857758), [YouTube](https://www.youtube.com/watch?v=KBI_vuObPB4), [Bloomberg](https://www.bloomberg.com/news/articles/2025-12-02/boe-warns-of-growing-gilt-risks-from-hedge-funds-basis-trades)\].
* Dec 3: The CFTC (who [CME Group CEO Terry Duffy said he bribed](https://www.reddit.com/r/Superstonk/comments/z4o468/my_regulator_at_the_cftc_i_bribedasked/)) unlocked $22B of collateral for [liquidity](https://www.reddit.com/r/Superstonk/comments/qr9ovd/lets_talk_liquidity_liquidity_crisis_wut_mean/) \[[X](https://x.com/741trey/status/1996249820038873334), [CFTC](https://www.cftc.gov/PressRoom/PressReleases/9143-25)\] and the SEC delayed short reporting compliance \[[SEC on X](https://x.com/SECGov/status/1996367147128471979), [SEC PDF](https://www.sec.gov/files/rules/exorders/2025/34-104303.pdf)\]
* Dec 5: CloudFlare Outage \[[CloudFlare](https://blog.cloudflare.com/5-december-2025-outage/)\]
* Dec 8: CFTC allows crypto as collateral for derivatives \[[CFTC](https://www.cftc.gov/PressRoom/PressReleases/9146-25)\] while the SEC Office of Investor Education and Assistance Director leaves \[[SEC](https://www.sec.gov/newsroom/press-releases/2025-139-sec-announces-departure-oiea-director-lori-j-schock)\]. (*Perhaps for failing to “educate” apes?*)
* Dec 10: Federal Reserve removes the aggregate “Lender of Last Resort” Repo borrowing limit \[[Fed](https://www.newyorkfed.org/markets/opolicy/operating_policy_251210), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1pjyda9/unlimited_emergency_borrowing_from_the_lender_of/)\]; basically unlimited Fed borrowing to keep bankrupt banks afloat.
* Dec 11: Federal Reserve “schedules” their Reserve Management Purchases (RMP) \[[Fed](https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details#monthly-details)\] which basically inject cash into banks when they know the banks will need it \[[Me on X](https://x.com/WhatCanIMT/status/1999267522684834066)\]. The SEC allows the DTCC to tokenize securities \[[DTCC on X](https://x.com/The_DTCC/status/1999237641766674796), [X](https://x.com/WatcherGuru/status/1999253197441929297), [Me on X](https://x.com/WhatCanIMT/status/1999256841453469895)\] which will basically allow better tracking of IOUs and debts; but does not fix the underlying problem that the short sellers are broke. Meanwhile, the CFTC withdrew guidance regarding actual delivery of virtual currencies. \[[X](https://x.com/BitcoinMagazine/status/1999201778261258395), [Me on X](https://x.com/WhatCanIMT/status/1999219010383282653)\] (*WCGW?*)
* Dec 12: OCC Hedge Loan Spiked \[[X](https://x.com/JosephCobraKai/status/2000359121602871645)\]
* Dec 19 (C35 after the Nov 14 CAT Errors spike) to 21: Epstein files are “Released” and the USA goes after ISIS in Syria \[[UW](https://x.com/unusual_whales/status/2002144587943391644)\] along with some Venezuelan oil tankers \[[UW](https://x.com/unusual_whales/status/2002759206286561519)\]. (*News coverage to drown out anything else happening in the world? Notably, glitches 5 out of 7 days for the next week… basically every day. From here on out, things kinda get crazy in the news \[*[*Me on X*](https://x.com/WhatCanIMT/status/2007687521900400711)*\]…* )
* Dec 24: OCC Market Loan spiked \[[Ultimator](https://x.com/TheUltimator5/status/2007510125045854345)\] and AWS had issues \[[X](https://x.com/downdetector/status/2004004448264163455), [Me on X](https://x.com/WhatCanIMT/status/2004059746001997876)\] after another GME C35 settlement deadline ends \[[Me on X](https://x.com/WhatCanIMT/status/2004191576936067391)\] while 🐝TC glitches \[[X](https://x.com/WhatCanIMT/status/2004188879151419832)\]
* Dec 26: Daycare scandal \[[Wikipedia](https://en.wikipedia.org/wiki/2020s_Minnesota_fraud_scandals#2025_developments)\]
* Dec 29: Rumors of a bank failure \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1pycf50/rumors_circulating_that_a_bank_heavily_invested/)\] right on time alongside signs [Shit’s Hitting Fan (SuperStonk DD)](https://www.reddit.com/r/Superstonk/comments/1pzk8gv/shits_hitting_fan/)
* Jan 1: China restricts silver exports \[[X](https://x.com/WhaleInsider/status/2006810262024892512)\]
* Jan 2: UBS CTO leaves to be CEO of N26 \[[News](https://www.bankingdive.com/news/n26-hires-ubs-exec-mike-dargan-stalf-tayenthal-dombret-mosen-neobank-germany/808020/), [News](https://www.reuters.com/sustainability/boards-policy-regulation/ubs-parts-with-chief-tech-officer-promises-smooth-integration-process-2025-12-15/)\] while the US strikes Venezuela \[[X](https://x.com/sentdefender/status/2007382604065251620), [UW](https://x.com/unusual_whales/status/2007385897633985019), [White House](https://x.com/WhiteHouse/status/2007396973758816564)\]. (See also this [Jack Ryan clip](https://x.com/FinanceLancelot/status/2007687746354327778).)
*Finally*, BAC and MS glitch dip again on Jan 4 \[[Me on X](https://x.com/WhatCanIMT/status/2008179285748781531)\] (not shown above because I took those screenshots early in the DD drafting process).
**Clearly the past 2 months have been crazy volatile; with more likely to come.** (["The more you deny me, the stronger I get."](https://www.reddit.com/r/Superstonk/comments/1d9olt3/ill_wager_with_you_ill_make_you_a_bet_words_from/))
# OBSERVATIONS & SPECULATIONS
From everything above, we can make a few observations and speculations from this calendar of events for the past 2 months:
* Rats have been jumping ship from Citadel.
* Outages (CloudFlare and AWS) are oddly well timed with the glitches for anyone affected to claim “their internet isn’t working” which appears to be the Wall St mashup of “the dog ate my homework” and “the check is in the mail”. (For example, 388M Options Errors on Nov 14 would fail on Nov 18 when there's a CloudFlare outage and the Dec 5 CloudFlare outage is one T+3 ETF Can Kick after JPM Chase glitches $100B.)
* Banks are in trouble. These dips started with 3 regulatory deadlines hitting together (C35 settlement, T15C14 margin call, and T13 FTD) on Nov 3 with glitches every week since. We can also see banking stress in the emergency liquidity repo borrowing from the Fed \[see, e.g., [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1ibb5yk/federal_reserve_is_backstopping_shorts_as_the/), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1q0edii/746_billion_borrowed_from_the_federal_reserve/)\] and ECB correlated to GME settlement deadlines \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1pzk8gv/shits_hitting_fan/)\] and the new Fed RMP. Plus JPM keeps glitching customer accounts for billions.
* As the prevailing theory for these glitch dips is they allow bullet swaps to roll while both parties “pretend” the underlying stocks are still trading at 2008-2009 Great Financial Crisis levels, this *screams collusion and market manipulation*; and also corroborates something apes have been saying: 2008 never ended and is coming back around. \[[SuperStonk: The Bigger Short. How 2008 is repeating, at a much greater magnitude…](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) ([repost](https://www.reddit.com/r/Superstonk/comments/1dk82bc/reposting_old_dd_the_bigger_short_how_2008_is/))\]
* News is currently *very busy* with very big current events (e.g., Epstein, daycare scandals, Venezuela, Middle East, etc…); potentially an ideal time for something big to happen under the radar while everyone is distracted.
(Very Speculative) One last thing which I’ve been pondering… Printing money (USD) creates inflation \[[DuckTales on inflation (YouTube)](https://www.youtube.com/watch?v=t_LWQQrpSc4)\] because the supply of US Dollars increases; so how could the Fed print a lot of money without inflation? The only option to managing inflation with money printing is to balance out the increased supply of USD against an increased demand for USD. The global mess in the news right now may be an attempt to increase demand for USD (e.g., getting Venezuela to swap their Bolivar for US Dollars). If USD demand goes up, the Fed can print a lot of new USD without as much inflation. *Would the new USD be used to pay apes out or can kick MOASS?* 🤷‍♂️
\[1\] You can see the glitches by opening ThinkOrSwim and turning on the extended hours view. I’ve used 180d:1h and 180d:4h resolutions which generally work well for seeing the big dips. Some dips don't always show up as a tall candle so vary the timescale and resolution.
\[2\] Back when FINRA tried to hide the CAT Error Data \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/1jqrpjr/oops_cat_errors_again/)\], I noticed a spike in CAT Options Errors which could be correlated to regulatory deadlines showing a Wall St version of “the check is in the mail” using options settlement (e.g., next upcoming option expiration) and faux options trades to hide naked short positions and FTDs. As each option contract is for 100 shares, options make the errors look 100x smaller and less noticeable. Except now even the CAT Options Errors are in the hundreds of millions which mean there are double-digit billions of shares affected \[see, e.g., [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1m2oa3z/cat_errors_billions_trying_to_hide_moving_from/), [SuperStonk](https://www.reddit.com/r/Superstonk/comments/1n05r2r/cat_errors_behind_hidden_billions/)\]. *Double digit billions of naked short positions and FTDs*. And keep in mind that while the CAT Errors are a market wide metric, the NSCC said there’s “a single security exhibiting idiosyncratic risk” \[[SuperStonk](https://www.reddit.com/r/Superstonk/comments/t8mujx/the_nscc_liquidity_crisis_an_idiosyncratic/)\].

GENERAL NEWS:
* CES 2026: NVDA, AMD, INTC Keynotes today
* ISM manufacturing PMI out after market opens
MAG7:
TSLA - Cantor outlines the TSLA catalysts to watch this year:
* FSD (supervised) China: 1H26 (their view)
* FSD (supervised) Europe: 1H26 pending approvals
* Robotaxi market expansion: 1H26
* Cybercab rollout: 2H26
* Semi SOP: 2Q26E (initial deliveries 2027E)
* Optimus commercial launch: deliveries 2H27E
OTHER COMPANIES:
* Oil stocks all higher on Venezuela capture
* Memory Names: Samsung and SK Hynix are reportedly quoting cloud customers (MS, AWS, Google) server DRAM prices 60% to 70% above Q4 levels TSM - Goldman Sachs Raises TSMC Price Target by 35% w/ Conviction Buy
* AMKR - Needham raises PT to 50 from 37. we are maintaining our TSMC 2026-2027 estimates as we have incorporated AI upside in our last N3 capacity update in late October. We are rolling AMKR estimates to 2027 based on our longer-range AMKR CoWoS revenue forecast, and raising our AMKR PT to $50.
* UMAC- Needham names UMAC a top pick, PT of 20. in 2026 and expect this will mark the first of multiple record-setting years for drone procurement. Given UMAC’s unique positioning as a leading domestic supplier of low-cost, drone components, we see multiple catalysts materializing in 2026 that position the company to outperform. First, we think the company enters 2026 with strong visibility, supported by \~$20M of backlog that we expect the majority to be shipped in 1H26, but we see meaningful upside potential as several high-volume programs begin to scale in 2026. While we do view scaling as the primary risks, we see a clear path to breakeven in 2H26 which we view as another important milestone for the stock. Finally, we believe 2026 could represent a transformational M&A year for UMAC, providing additional tailwinds in 2026."
* ARBE is pairing its high resolution radar with NCDA ompute (DRIVE AGX Orin) to build an AI-perception stack for autonomous driving. Radar specs: 2,304-channel array, 20,000+ detections per frame, 300m+ range, designed to hold up in rain/fog/snow
* LBRT - signed a deal with Vantage Data CEnters to develop up to 1GW of on-site power for North American data centers over the next 5 years, with 400MW reserved for 2027. Liberty’s power unit will own and operate the infrastructure once commissioned.
* VRNS - Piper Sandler upgrades to overweight from Neutral, raises PT to 47 from 45. We believe that organizations will continue to piecemeal together data security solutions to address concerns, and the company’s stronghold across legacy data stores (SAN, NAS, SharePoint), as well as the more recent modernization of its capabilities, should enable VRNS to see continued momentum in both new customer growth and migration of the installed base to SaaS—rendering numbers conservative for the coming year."
* UBER - Elias downgrdes to Sell from Hold, PT $73. Uber has attempted to position itself as the demand aggregator for new AV entrants, with announced partnerships and investments as new tech ramps. Even with Uber's position, AV competition is set to rise in 2026 and beyond, which could erode returns whether Uber partners or not. Uber's current valuation screens as cheap, but also assumes steadystate growth with no discernible impact from a competitive threat. We will see, but if growth were to moderate and / or further standalone expansion announcements from the likes of Waymo and Tesla were to come in the US market, there is certainly risk that doesn't seem fully appreciated in the market today.
* "DUOL - BofA upgrades to Buy from neutral, PT lowered to 250 from 301. "We believe its value proposition as an entertainment product is not reflected in growth forecasts. In our view, Duolingo’s rapid-fire, bite-sized lesson plans provide superior entertainment value vs. the majority of mobile gaming apps – all while making consumers’ dead-waste time productive through convenient mobile phone-based language and chess lessons. We think DUOL’s 95% annual subscriber rate, and 23% payer/DAU ratio demonstrate the app’s superior value prop vs. mobile games."
* BAC as updated wealth guidance to allow advisors to recommend eligible clients allocate \~1%–4% to crypto exposure, mainly via regulated Bitcoin ETFs like IBIT
* COST - Mizuho upgrades to outperform from Neutral, raises PT to 1000 from 950. We push back on stock decline with: 1) A proprietary store-level analysis indicating roughly half of recent U.S. warehouse openings are "fill-ins," siphoning demand from high-volume locations and therefore temporarily weighing on membership growth; 2) Trade-up activity is accelerating with Q1 premium member adds 2-3x that of total membership; 3) Domestic renewal rates remain exceptionally high at >90% and above the 10-year running average. Our call may be early.
* NVO - has launched oral Wegovy in the U.S., the first daily GLP-1 pill cleared for obesity. DIS - Earnings Preview, by BofA PT 140. we view the high-level topline algorithm in Experiences to be flattish attendance growth, low-mid single digit per-cap increases augmented by a few points contribution from new cruise ships in 2H, all driving high single digit topline growth."
* OSCR - Barclays upgrades to equal weight from underweight, raises PT to 18 from 13. Alongside of this, we believe OSCR is also priced attractively and the market is currently over-discounting the negative outcomes from expiring subsidies (OSCR -13% in December vs. S&P flat). Our pricing analysis shows healthy rate increases consistent with the market (+28%) paired with leading competitive positioning. However, larger swings in relative positioning and a lower absolute rate increase the range of outcomes and temper the outlook. At sub-$15, we believe the risk -reward is more balanced and upgrade OSCR to EW with an $18 PT (16x target P/E). We model 2027 EPS of $1.10, which embeds nearly breakeven margin in 2026 and 2.4% margin in 2027."
* COIN - Goldman upgrades COIN to buy from neutral, raise PT to 303 from 294. We are also constructive on COINs migration to structurally growing crypto infrastructure businesses through its rapidly growing subscription & services offerings, which have risen from"
* HOOD - Goldman maintains Buy, Lowers PT to 161 from 164. In the near-to-medium-term, we see growth driven by continued wallet share gains among highly-profitable active traders, and a long-term opportunity to expand HOOD’s TAM in areas, including wealth, internationally, and into prediction markets and tokenization. ASML - Bernstein upgrades to outperform, ASML benefits from the upcoming DRAM super cycle: the top three DRAM makers are adding up to 250kwpm greenfield capacity in 2026, and are accelerating node migration to 1c. This is great for ASML, as lithography intensity for 1c is 28% based on our estimates, much higher than previous nodes of 20–24%. The DRAM tech migration headwind is also alleviated: 4F2 migration is still a concern for EUV as feature size would increase, but it is likely to be postponed as suppliers prioritize manufacturability over cost in an up cycle.
* ENPH - keybanc upgrades ENPH to sector weight from underweight.
OTHER NEWS:
* BofA says AI capabilities are still the main asset and valuation driver for large-cap Internet. With infra spend rising across the mega caps, they think proprietary chips, frontier models, user data, and scaled consumer distribution matter even more.
* South Korea’s Joint Chiefs of Staff says North Korea fired at least one unidentified ballistic missile toward the East Sea on Sunday, without giving more details. Bullish for KDEF