Smartkarma Daily Briefs

• Recent policy changes in China have sparked a surge in commodity prices and stock markets
• China’s focus on stimulating the real economy over asset prices sets them apart from Western policies
• Chinese government has implemented measures such as interest rate cuts and lower bank reserve requirements to boost liquidity and investment

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• We have emphasized multiple times that we have been eagerly anticipating the fourth quarter of this year, driven by numerous factors that make us extremely bullish.
• With September’s liquidity squeeze now behind us, we expect U.S. Dollar liquidity to rise significantly through the remainder of the year.
• Additionally, there are several other strong tailwinds: robust seasonal trends, Chinese stimulus measures, the post-fourth Bitcoin halving phase—which historically delivers substantial returns—the possibility of positive focus on crypto during the U.S. presidential election, and a market that tends to thrive in a low-interest-rate environment, many of the reasons for which were discussed in Crypto Moves #42.

• Tesla aims for 462,000 deliveries in Q3 2024, with analysts predicting actual numbers could reach 470,000 units. This increase highlights strong demand, particularly in China.
• Vehicle registrations in China rose nearly 20% QoQ, driven by the Model Y’s popularity. Despite expiring subsidies, Tesla expects Q3 deliveries to exceed its previous best quarter by 5%.
• Tesla’s stock is up only 4.85% year-to-date, significantly lagging the S&P 500’s 21% rise. Factors include declining EV demand, price cuts affecting margins, and increased competition.

• Global liquidity trifecta: US, China, and Japan’s policy shifts hint at a bullish environment for risk assets, including crypto.
• BTC’s trend reversal? Early signs of a market shift suggest a potential breakout as investor sentiment changes.
• Solana ecosystem is gaining momentum—real-world applications and a booming DeFi landscape are setting the stage for a strong 2024.

• $SPX remains below 5783, the upper-end of important target/resistance area we’ve discussed for a month+ (5670-5783). 5670 was prior all-time high set in July, while 5783 is 2% above 5670.
• It’s hard to call it a “decisive” breakout if SPX isn’t even 2% above its prior high.  In 2007, SPX made a top after climbing 1-2% above its prior high.
• The 2007 topping analog has tracked the current market almost perfectly, with similar backdrops to today including new Fed cutting cycle, recession indicators going off, yield curve un-inverting, defensives outperforming

• KULR Technology Group, Inc. develops and commercializes high-performance thermal management technologies for electronics, batteries, and other components across a range of applications.
• Currently, it is focused on high performance aerospace and Department of Defense applications, such as space exploration, satellite communications, and underwater vehicles, and applying them to mass market commercial applications, such as lithium-ion battery energy storage, electric vehicles, 5G, cloud computer infrastructure, consumer and industrial devices.
• It is also applying its zero-vibration technology to fans in commercial markets which could be a large revenue opportunity.

• KULR Technology Group, Inc. develops and commercializes high-performance thermal management technologies for electronics, batteries, and other components across a range of applications.
• Currently, it is focused on high performance aerospace and Department of Defense applications, such as space exploration, satellite communications, and underwater vehicles, and applying them to mass market commercial applications, such as lithium-ion battery energy storage, electric vehicles, 5G, cloud computer infrastructure, consumer and industrial devices.
• It is also applying its zero-vibration technology to fans in commercial markets which could be a large revenue opportunity.

• CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.
• First half 2024 product sales improved 12% from last year while product gross margins rose to 75%.
• The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on blood thinners during cardiac surgery.

• Coterra Energy held its 2024 Earnings Call, reporting robust results for the second quarter.
• The company highlighted strong financial performance alongside diligent execution of operational strategies, despite facing a 42% drop in realized natural gas prices between Q1 and Q2 2024.
• Ensuing from this price drop, revenue only saw a modest 12% decline, illustrating Coterra Energy’s resilience and strong market positioning.

• IDEXX Laboratories recently reported its financial results for the second quarter of 2024.
• The company saw organic revenue growth of 7%, driven by a 7% increase in Companion Animal Group (CAG) Diagnostic recurring revenues and a 10% growth in its water business.
• Despite facing macroeconomic and sector-specific challenges, including a 2% decline in U.S. same-store clinical visit growth, IDEXX demonstrated resilience by leveraging solid execution strategies such as high premium instrument placements and gains in veterinary software and diagnostic imaging revenues.