🎙️ Melting Iceberg

[5 minutes to read] Plus: Truth Social merger approved

By Matthew Gutierrez and Shawn O’Malley

Yes, yes, we know the U.S. has some of the largest mega-cap stocks in the world — no other country has the same concentration of trillion-dollar+ companies.

But even within the U.S., there’s a striking gap between its two biggest stock exchanges.

The total market value of the 5 largest stocks traded on the New York Stock Exchange is $3.5 trillion, versus $11.6 trillion for the tech-heavy Nasdaq 🤯

The NYSE’s biggest name is Warren Buffett’s Berkshire Hathaway, which is about half the size of the Nasdaq’s fifth-biggest stock: Alphabet (Google’s parent company.)

💭 Nasdaq has long built its reputation as a hub for trading tech stocks, and that distinction is increasingly paying off for the exchange as Big Tech “eats the world.”

Our Chart of the Day shows more.

— Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the biggest stories in markets:

  • Truth Social goes public

  • The decline of mutual funds

This, and more, in just 5 minutes to read.

POP QUIZ

When was the last year that value stocks outperformed growth? (The answer is at the bottom of this newsletter!)

Chart of the Day

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