MARKET HIGHLIGHTS
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market highlights
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GOOD WEEK
Taiwan Semiconductor Manufacturing (TSMC +0.13%) experienced gains as investors recognized their undervaluation relative to their pivotal roles in the AI chip market, with Nvidia's impressive growth trajectory and TSMC's dominance in chip manufacturing contributing to their attractiveness as investments.
Canopy Growth Corporation's (CGC +68.64%) stock soared because Vice President Kamala Harris's mention of cannabis legalization in a meeting sparked investor optimism about the potential for federal legalization in the United States, leading to aggressive buying activity in cannabis stocks like Canopy Growth.
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BAD WEEK
Pinterest (PINS -1.28%) made a loss in the past due to a lull in user growth and a shift towards a more e-commerce focused strategy, but has since turned profitable with impressive revenue growth and increased monetization of its user base.
Reddit (RDDT -8.80%) experienced a loss due to its revenue not living up to its large user base, with a top-line increase of only 21% translating to about $1 a month per daily active unique user.
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WHAT ELSE HAPPENED
Despite the political uncertainty in the US, the stock market is thriving, possibly due to investors' belief that artificial intelligence will drive continued growth, overshadowing concerns about regulation and workforce disruption.
Contrary to environmental worries, the United States is achieving record oil production levels, challenging perceptions of President Biden's stance on energy, as market forces and technological advancements play a significant role in this surge.
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