☕️ GM Munchers! I’m your trading sidekick—more committed to market reversals than my wife is to reminding me “this is not a business dinner” every time I pull up a candlestick chart at a restaurant.

On today’s menu:

• 🥇 Gold Just Hit a Record. Thanks, Tariffs.

• 📉 GameStop Gets Destroyed 🚀 

• 😬 Major Prop Firm Drama

• 🏎️ Ferrari Raises Prices By 10%

• 👀 The Nikola Motor Founder Gets A Full Pardon

• 🇨🇦 More Investment Room For Canadians?

MARKET OVERVIEW

🥇 Gold Just Hit a Record. Thanks, Tariffs.

Gold just did what traders dream of… it broke out, hit a record, and left equities crying in the corner.

📈 Spot gold hit $3,050.32/oz Thursday, notching its 17th record high of the year.

U.S. gold futures?

Even higher — settling at $3,061 after tapping a fresh all-time high of $3,071.30 earlier in the session.

And the MVP driving this rally?

You guessed it: tariffs. Again.

💥 What Happened

President Trump’s new 25% tariff on imported vehicles has officially triggered global financial heartburn.

→ Equity markets tanked 📉 
→ Trade tensions soared 🚀 
→ And investors sprinted to the shiny yellow safety blanket known as gold 🏃 

Governments from Ottawa to Paris are already threatening retaliation.

And traders are bracing for Trump’s next mic-drop: the reciprocal tariffs (aka revenge taxes), set to be unveiled, well, who actually knows at this point.

All this drama = uncertainty.

And if markets hate one thing more than my wife hates me leaving dishes in the sink… it’s uncertainty.

🚀 Why Gold Is on a Heater

1. Safe-Haven Demand – Gold’s doing what gold does best: being the adult in the room when things go off the rails.

2. Bullish Breakouts – Gold blew past resistance at $3,050 like it was a 9-to-5 job.

3. Fed Rate Cut Bets – Expectations of lower U.S. rates = weaker dollar = stronger gold.

4. Central Bank Gold Rush – Emerging markets are hoarding gold like it’s Costco toilet paper in 2020.

Oh, and one strategist from RJO Futures is already eyeing $3,100 for gold “shortly.”

Bold move, Bob. We respect it.

📉 Meanwhile, in the land of stocks…

• The S&P 500 fell 0.3%

  

• The Nasdaq dropped 0.5%

  

  It’s still up for the week.

• Oil climbed to $69.83

• And 10-year Treasury yields edged up to 4.36%

Gold wasn’t just the best-performing asset of the day — it was the only one that didn’t look like it forgot to set a stop-loss.

🥇 Bottom Line

Gold's flexing hard. Tariff tantrums and weak equities are fueling the fire.

If you're a trader, this is your signal to watch gold levels, geopolitics, and every word Trump utters like it's an NFP report.

If this trend keeps up, gold bugs might finally get their moment — and yes, they’ll be insufferable about it.

(And we love them for it.)

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STOCKS

📉 GameStop Gets Destroyed

You know it’s bad when even the stonks only go up crowd starts selling.

GameStop ($GME) just pulled a full send into the red — tumbling nearly 25% on Thursday.

Why?

The company announced plans to raise $1.3 billion... To buy Bitcoin. 😬

Yep.

After riding a nearly 12% high earlier this week on news that it would treat Bitcoin as a treasury reserve asset, GameStop followed up with:

“We’re raising a billion+ through convertible notes to fund it.”

Investors immediately hit the sell button like it was a GameCube controller in Smash Bros.

📉 The Chart Says It All

Just days ago, $GME was riding high at nearly $29. But the second the new Bitcoin plan dropped? Boom — back under $22.

💸 What’s the Plan, Exactly?

GameStop is trying to copy the MicroStrategy model. CEO Ryan Cohen has been cozying up to Michael Saylor (aka Lord of the Sats), whose Bitcoin bet has sent $MSTR flying.

But analysts are skeptical:

• GME’s strategy has changed more times than your mom’s WiFi password.

• Their cash pile is $4.6B, but revenue fell 28% YoY and EBITDA is half what it was last year.

• “They’re not Saylor,” one analyst said. “Even if they went full Bitcoin, the stock would still get smoked.”

🧠 Our Take

GameStop wants the “number go up” magic of Bitcoin without the foundation to support it. It’s like buying a Lambo when you can’t pay rent.

Can it work? Maybe. But based on the market reaction…

PROP FIRMS

😬 Major Prop Firm Drama

Well, this escalated quickly…

Prop Firm Match just launched a brand-new feature that lets you track real-time payouts from prop firms via API. We’re talkin’ wire transfers, crypto, Rise — all the good stuff. It’s a cool idea. Like “finally someone built this” kind of cool.

They showcased data from a firm with over 86,000 payouts and $111 million paid out — including a single payout of $140,354. The dashboard includes payout speed, trends, and even geographic breakdowns.

One problem though…

They didn’t say whose data it was. 👀

No credit. No mention. Just vibes.

Which brings us to Khaled — the founder of Funding Pips — who wasted no time airing his frustration publicly.

In a Twitter post that read like a corporate breakup letter, Khaled said:

“We’re the only company that provided our API for this… and you didn’t even mention our name? Affiliate privileges = revoked.”

Oof.

To make things worse (for Prop Firm Match), Khaled said this was his idea from back in 2023 — to publicly audit payouts — and that Prop Firm Match ran with it without acknowledging the firm that made it possible.

Affiliate links? Cut.

Any use of the Funding Pips brand? He wants it down.

For Prop Firm Match, this may turn out to be a costly oversight. Because if you’re pulling data from one of the biggest payout firms in the game, you probably don’t want to burn that bridge. Especially when that bridge is paved with affiliate dollars.

We’ll be watching to see how this plays out. But one thing’s for sure:

Prop firm transparency just got way more transparent… and way more dramatic.

Stay tuned.

PROP FIRMS

🤑 Friday Motivation

🚀 Pre-Market Fuel

1. Ferrari is raising prices by 10% to offset tariffs.

2. Trump gives the Nikola Motor founder, Trevor Milton, a full pardon.

3. With the Conservative leader's new proposal, Canadians might be able to start trading with an extra $5K in their TFSA.

🍪 Munchy Memes

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