AP

NoteLegitimate4844

A lot of institutional ETF traders will tell you that the biggest mindset shift is realizing that **ETF volume is often the least important liquidity metric**. For resources, I'd start with: * [BlackRock ETF Insights]() * [State Street SPDR ETF Education]() * [J.P. Morgan ETF Market Structure Papers](https://am.jpmorgan.com/us/en/asset-management/adv/insights/etf-insights/?utm_source=chatgpt.com) * [CFA Institute ETF Research Articles]() The framework I'd focus on is: 1. **Primary vs. Secondary Market** * Screen volume is secondary market liquidity. * Creation/redemption capacity is primary market liquidity. * A $10M ADV ETF can sometimes absorb a $100M trade if the underlying basket is liquid. 2. **True Liquidity = Underlying Liquidity** * For broad U.S. equity ETFs, underlying liquidity often dominates. * For EM debt, bank loans, high yield, or thematic products, the ETF may actually trade more efficiently than the basket. 3. **Spread ≠ Trading Cost** * Quoted spread * Market impact * Creation/redemption costs * Tracking risk while executing 4. **Watch Premium/Discount Behavior** * Especially during stress events. * Understanding when arbitrage mechanisms tighten or loosen is valuable. One practical exercise: every time you're evaluating an ETF substitute, ask: > That question tends to move the analysis away from ADV and toward basket liquidity, AP capacity, market-maker competition, and creation unit economics. Honestly, if you already have Bloomberg and access to a trading desk, I'd spend as much time as possible listening to ETF traders explain *why* they routed a trade a certain way. The jump from textbook ETF knowledge to institutional judgment usually comes from seeing real execution decisions rather than reading more theory.

lemurtowne

Truly. AP and Reuters actually putting out some dogshit too.

zslszh

What happened to Reuters or AP, why is Axios even a news agency

teh_herper

Been listening to birds chirping on the AP feed for an hour 🥭 sure needs his beauty sleep and plenty of time to change his diapers

OhhPeeee

One AP associate press said he thinks there's a zero percent chance anybody shows up haha. People are tired of this always being late bullshit.

teh_herper

Someone really said they waiting on him to change his diapers in the AP feed lol

Redle88

They've seen the Swatch x AP collab frenzy and made a car to match the Toys R Us vibe.

tsammons

Ah, Business Insider. One of the esteemed media outlets that we hold in similar regard to The AP, Reuters, WSJ, and NY Times for their integrity.

Affectionate-Drop689

what watch is everyone buying once they make their gains this week? thinking of a AP for 100k

InitialPsychology731

Guess I should add Al Jazeera to my list of news sources. Nothing on AP or Reuters yet.

CallShot7029

I don’t disagree, but we don’t have results to show for it and I don’t think we are going to get that. In fact, a lot of the reporting I’m seeing from places like AP and NPR express that this may actually make the problem worse as far as the regime goes. Time will tell, and hopefully this reduces risk aversion and gives us a nice run into the June and July hearings. As far as the sub is concerned, that’s what’s important.

barelyreadsenglish

When asked by the AP if the British effort was partly for show, to curry favor with the U.S., Carns said he was sure some mines had been blown up or floated away but that assurance is not good enough for commercial insurance companies. He said those companies need “absolute certainty” to get vessels traveling through the strait again. Totally not avoiding answering the question

Medium_Beautiful_721

Buying the whole team AP’s once I hit this 100x bagger this week

Scalpaholic

3 days of Bols saying nothings happening but they watch AP Live cams on at least one screen 24/7 and twitch at sound sof strong winds.  Maybe until they jinx it and something does happen. Or maybe not. Bers just enjoying the 3-day weekend. 🤷‍♂️

TedwardDavis

Per the AP just now: Iran’s Foreign Ministry spokesman Esmaeil Baghaei says peace negotiations with the United States are not “close” and it’s difficult to say if a deal will be reached “over weeks or months”.

version-two

Maybe cuz Eeran is still parading missiles around. Although our king regard is prob jealous we’re not doing more of that in the states. - AP Headline: > In Iran's capital, weapons demonstrations send a signal at home and abroad as threat of war remains

SignificanceNo3295

Better than scalping AP Swatch toys

ManBearPig_1983

Faker than an AP x Swatch.

yushey__

How is there so many high net worth individuals? I opened my TikTok and all I see is a bunch of people with Rolex Daytona. Rainbow Daytona. AP skeleton. I’m so fucking poor

ManBearPig_1983

Do you know how many AP x Swatch watches you could have bought and flipped???

Springhash

AP in the trenches since poepl fighting in streets over happy meal toy

dataCollector42069

I’m trying to be an AP owner instead of a Rolex owner 🤌

lochmoigh1

Iced out AP

mrtomd

The watch should have been the new AP x Swatch.

Affectionate-Drop689

well rolex ain't super expensive its like entry level price between used and new 8k to 16k expensive would be like a 50k used AP

Affectionate-Drop689

AP is also good once we reach the 50k mark we can get a used AP

Affectionate-Drop689

you will learn to love it rolex then AP after getting gains

Affectionate-Drop689

if the move from VT > options makes me 50k then ima get a used AP

Acceptable-Two5692

Its a pocket watch idea / bag charm, I love the idea of a collab between Swatch and AP but the outcome is quite underwhelming

DaimonHans

They thought they were buying AP 🤣

Fun-Dot-3029

No no no you misunderstand. It’s “upgraded”. You can’t service it bc…uh… you see… well… it’s small… and….uh…. Hey! It’s got AP on the dial! Did you see the AP logo?!

coloredzebra

Did these morons not see the post from AP that they're going to released for the next 6 months? 😂

moorhound

>AP NEWS: Drone strikes UAE nuclear plant as US and Iran signal they are prepared to resume war lmao, the US has been pushing the UAE to do the Kharg Island job all weekend. We fooked

Dakhnas

'US and Iran signal they are prepared to resume war' - AP News

Pitiful_Bedroom_6619

Swatch, AP and scalpers making good money with that pocket plastic junk

Pale-Silver-8178

If you feel dumb know people bought the AP swatch. Happy meal toy

eoiioe

Could’ve spent that on 0dtes and bought a real AP

4DH2

Got my AP Swatch pocketwatch. Don't ask me for the time 😏

OptionsHuduga

So AP and Swatch decided to collab and make a watch for poors. So sad. AP is making a fool of itself as a brand and making a fool of those who buy it. Now everyone will def know you’re a poor by u wearing one of those gumball twat looking toys. “But look bro! It says AP on it”

moorhound

I'm just gonna come out and say it, this AP-Swatch Royal Pop craze legitimately dumb as fuck. As an actual time-telling device; pocket watches making a comeback is stupid. Just pull out your phone at that point. As a flex piece; congrats, you've got the absolute cheapest thing with "Audemars Piguet" on it you can possibly buy, and everyone knows it because it's bright neon and made out of the same material a toilet is. Just seems like the absolute pinnacle of trendchaser poser dogshit, these people don't give a fuck about watch movements and half of these fuckers buying them probably can't read an analog watch anyway.

Valkorion335786

People got arrested this morning over the new AP Swatch I also hit new PRs on the track at the exact same time Poetic

Slightlybadpicks

The store doesn’t have AP swatch collab. Fuck this shit 🤬🤬 I thought I was getting dropped out today

lamechud

AP swatch line longer than unemployment one

Slightlybadpicks

Did anyone get their hands on the AP x Swatch collab??

OriginalFatPickle

AP reported Trump drove in with a black loofa attached to his car. Xi spotted earlier in the day with a yellow loofa in tow.

thr0waway6478

I can finally afford my $300 AP

KYEEZY98

AP x Swatch Collab is a market top indicator. Major luxury brand feels the need to collab with budget brand to increase sales at cost of brand image. Retailing for $400 and reselling on Ebay for $1200+, Rate hikes when?

tocinoman

It feels like more of a benefit for AP than for Swatch Group. They're trying to get their name into younger people's minds as the watch to strive for instead of a Rolex. Swatch just gives them a cheap means to do that mass market.

Creepy-Application30

Should we be paying attention to $SWGAY because of the AP+Swatch collaboration?

dataCollector42069

Through a dealer or gray market? Been waiting few months for my Sub to have a second Rolex 🤌. Not the AP kinda wealth here though

AirportMaterial5917

Traded my Rollie for a AP but I coulda got a Patek and I coulda got a Corvette and I coulda got me a jet and I coulda got me some sense but I only got me some neck

Pale-Silver-8178

Was so excited about the new AP's but its a pocket watch what a disappointment

AirportMaterial5917

Traded my Rollie for a AP but I coulda got a Patek and I coulda got a Corvette and I coulda got me a jet and I coulda got me some sense but I only got me some neck

baller1able

Puts on PEUG because I was looking forward to getting an AP wristwatch, and not something like the watches I used to get in McDonald’s happy meals back in the day 😭

CannaVestments

Struggles continued for Cresco in Q1 as the top-line continued it's multi-year descent while margins were squeezed leading to negative operating cash flow for the first time in quite awhile. Positively, the company forecasted 10% sequential growth in Q2 on the heels of a large acquisition in PA (9 stores under MSA soon to be fully-owned) which would mark the first YoY top-line growth in 4 years. With a footprint that is largely built-out and no near-term adult-use flips on the horizon, growth will have to come from deals like this and their recent Kentucky cultivation launch. Full review: **Revenue:**  QoQ: $161.5M to $151.3M / YoY: $165.8M to $151.3M *Another large YoY drop for Cresco, down 6.3% sequentially and 8.7% YoY, although this was marginally ahead of consensus ($149M). No new assets online in Q1, but Cresco has opened 2 OH stores and has MSAs for 9 new PA stores so far in Q2 while forecasting a return to growth.* **Adjusted EBIDTA:**  QoQ: $40.4M to $32.9M / YoY: $36.2M to $32.9M *Down 18.5% sequentially and 9.1% YoY, short of expectations at $34M. Margin slips to 21.7% from 25% in Q4 and 21.9% last year.* **Gross Margins:**  QoQ 51.6% to 49.9% / YoY: 47.4% to 49.9% *Down sequentially but up YoY- at a good level.* **Operating Expenses:**  QoQ: $65.4M to $64.3M / YoY: $65.0M to $64.3M *Down slightly sequentially and YoY- decent cost controls.* **Operational Cash Flow:**  QoQ: $27.4M to -$5.6M / YoY: $30.5M to -$5.6M *Big swing into the negative, in part due to lower revenue but also a large part due to working capital shifts as Cresco paid down interest, AP and accrued liabilities in the quarter. CapEx was $7.6M for FCF of -$13.2M* **Cash:**  QoQ: $91.1M to $63.6M *Big drop in cash due to negative OCF, CapEx spend, and tax distribution outflows. Thin cash position now relative to $429.1M in debt and a UTP of a $184.9M.*

lionwar922

As a former Tesla employee, I remember when we starting getting those stupid tin can robots in the showrooms. Elon is a scam artist, a good one, but a scam artist none the less. I started with them in 2017, when they were promising FSD within a year or so. It's improved over the past 10 years, but with every release of AP hardware from 1 to 1.5 2.0 2.5, and so on, they kept promising it was just over the horizon. Buy it now! Well now you can't buy it, now it's a subscription. And then that little man-child, sexually assaulting his employees, got into the design studio and demanded the worst vehicle they've ever made. The cybertruck, coming out at $35,000!! But no, we really meant $60,000 and it'll be so poorly made nobody will want the thing. Robo-taxis aren't likely to be the hit all these business sycophants want it to be. 'AI' is just like saying well they have computer, so business make money. I've a pile of stock from my time with them. It's higher than it's been in the past few months, but it's been higher before, at nearly 500, back when Trump liked him and before he burned what was left of his public good will on gutting government agencies. I wouldn't be buying TSLA stock for long term investment.

tech01x

So was the entire industry. Are you new to this? Did you remember the statements made by Volvo at the time? Or Nissan? It was actually based on Mobileye that Musk made those predictions in 2013, because it was Mobileye's predictions wrt to the EyeQ3 that would be the underpinnings of Tesla's AP1 system. How about the Mercedes S class Intelligent Drive, showed in 2013, said they would have it on the roads by 2020. Or in 2016, when they claimed their Drive Pilot was "self driving" and had to pull those ads? Alex Roy did some detailed comparisons between the Tesla AP at the time versus Mercedes Drive Pilot. Volvo, based on their work using NVIDIA's SDK to build their DriveMe system, claimed in 2017 that they would have fully autonomous driving by 2020, claiming that by 2020, their vehicles would be "death-proof." Why are you bringing this stuff up?

AirportMaterial5917

New AP, flood. Water on my butt like a thug

WendyDumpsterFire

On my last 500 dollars I guess I’ll buy the new AP Swatch watch

AwarenessRoyal4717

Anybody like swatch ? After the announcement of the AP collab

kim82352

> Two Regional Diplomats Say One Issue Frustrating Trump Is Iran’s Demand For War Damages – AP

gavinderulo124K

It will use their 18A or 18AP node, which is cutting edge and comparable to TSMCs N2 or N2P. Thats cutting edge. Not sure what you mean by years old. And I'm starting to doubt you worked at Intel as you dont seem to know what you are talking about.

Confident-Income

Yikes this looks pretty rough. Down YoY in revenue, gross profit, and adj EBITDA. At least their gross margin was flat? Operating cash flow also cratered to negative... looks like they had some large AP/accrued liabilities they needed to pay. They have 63M of cash against 418M of debt, 185M of UTP, and another 100M of what looks to be other tax liabilities. Not a good spot even with 280e tax forgiveness.

hakim37

Pantherlake is already out and well reviewed. The first 18a server chip Clearwater Forest will come out by June. On their Q1 earnings call they guided 18a volumes will increase 6-7x quarter on quarter and will hit their end of year yield target by mid year. 18AP was just presented at a conference and is exceeding performance expectations. On the contrary TSMC 2nm is literally no where to be seen right now and rumours are putting it at the bottom of their 10-15% performance uplift target.

Nim0y

I don’t think it’s real. I saw nothing about this from Al Jazeera or AP.

AggravatingCrow897

Toll Booth it is!!!!!!!! “DUBAI, United Arab Emirates (AP) — Iran has created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz , a shipping data company reported Thursday, as Tehran said it was reviewing the latest U.S. proposals for ending the war . The Iranian effort to formalize control over the channel raised new concerns about international shipping, with hundreds of commercial ships bottled up in the Persian Gulf and unable to reach the open sea.” Excerpt From “Iran creates new agency to control shipping in Strait of Hormuz while reviewing peace deal with U.S.” The Associated Press https://apple.news/AlvT9zu5STUymGAcYmwxgQA This material may be protected by copyright.

CannaVestments

Strong start to 2026 for GTI- results ahead of expectations, good YoY growth, and a significant sequential OpEx reduction that continues to support cash flow generation and a balance sheet ripe with opportunity. Like Q4, adult-use sales in Minnesota led the quarter along with share gains in several states as management now claims the #1 market share in Illinois, Pennsylvania, Maryland, Ohio and Minnesota. GTI repurchased 6M shares at $5.51/share during Q1, with another 7.4M shares in Q2 at $6/share, both well below the recent trading prices and the company used their buy back program very effectively. Interestingly, management took out an additional $45M in debt despite the cash generation during Q1 (cash now at $346M), and noted that there was an abundance of M&A opportunities at the moment suggesting movement ahead. Full review: **Revenue:**  QoQ: $311.1M to $300.2M / YoY: $279.5M to $300.2M *Down sequentially but up a very strong 7.4% YoY ahead of expectations ($298M), led by Minnesota's AU launch and the 11 new store openings over the last year. Retail was up 4.7% while CPG was down 1.6%. No new stores online in Q1.* **Adjusted EBIDTA:**  QoQ: $100.2M to $93.5M / YoY: $85.2M to $93.5M *Huge beat on consensus here ($80M), with YoY growth of 9.7% YoY- good to see. Margin comes in at 31.1%, down modestly from 32.2% in Q4 but up from 30.5% last year. Very strong relative to peers who have reported so far.* **Gross Margins:**  QoQ 45.4% to 47.9% / YoY: 51.3% to 47.9% *Up sequentially good to see and down YoY, but note that this includes the $9.0M licensing fee paid in the quarter and would have been 50.8% in Q1 with that adjusted so closer to flat YoY. At a good level.* **Operating Expenses:**  QoQ: $122.3M to $102.9M / YoY: $100.8M to $102.9M *Huge drop sequentially and only a modest rise YoY- good cost controls considering 11 new store openings and the Minnesota launch over the past year.* **Operational Cash Flow:**  QoQ: $90.1M to $75.8M / YoY: $74.2M to $75.8M *Very strong cash generation and this included $8.7M in AP/Accrued liabilities paydown during the quarter. CapEx was $18.9M for FCF of $56.9M.* **Cash:**  QoQ: $274.3M to $346.2M *Big jump to start the year as positive OCF combined with $45M in net debt taken out, well offsetting the CapEx spend and $33.3M in share repurchases. Debt stands at $289.9M and a UTP of $220.6M*

ChampionshipOdd947

"US fires on Iranian oil tanker as Trump pressures Tehran for deal to end war" AP News But ... The memo ...

Invest0rnoob1

It’s both. They are making good progress on 18AP and 14A and there is more data center CPU demand due to inference.

NotMyMainLoLzy

WASHINGTON (AP) — U.S. President threatened Iran with more bombing Wednesday if it doesn’t reopen the Strait of Hormuz after a report that an agreement is emerging to end the war. I wonder why oil is falling when there’s not a deal and the actions of Iran and the new threat from the admin indicate there is not a deal. Something ain’t sitting right and the market is overly green

grumble11

18A isn’t as good as TSMC’s latest nodes, it performs like a node from 2023 (N3B). Their next one, 18AP is going to perform like N3E, a node from 2024. At that point TSMC will have released N2, which is going to be materially better again. Intel is roughly two years behind TSMC in terms of fab tech. That might change in 2028 with the launch of 14A, which uses new machines that possibly give Intel an edge, and they’re taking too long and need to make it in 2027, not likely launching to mass volume in 2029. Intel’s chip designs are improving but they are still being pressured by both AMD and ARM solutions. They also haven’t done much for AI so far, but their price rise is driven by producing some CPU head nodes and doing some packaging, along with some hype

04_tahoe

Whoops my B on that. There is another channel that has a live stream of him right now but its not AP

SuperbSandwich

You sure about that? AP stream is just waiting on him still

Late-Tadpole-2318

White House officially tells Congress it considers Iran war 'terminated' despite presence of US armed forces in region. — via AP

epyonxero

>WASHINGTON (AP) - 🥭 floats new plan aimed at creating maritime alliance to reopen Strait of Hormuz as Iran war shows no end in sight. Is this why oil dropped?

stonksf

Apple going to announce Intel 18AP deal on their earnings call tonight. Stock will go down due to the capex increase to Intel. Intel will hit 120 after hours

SuicideSpeedrun

>While the announcement doesn’t change anything regarding the blockage of the Strait of Hormuz, it could help lower oil prices after the war if the UAE increases its production capacity. AP

RIP-RiF

Dude, it was Pat's baby. It's the only thing he talked about for his entire run as CEO. Go read any of his Intel Newsroom articles from 2022. 4N5Y, 18A, 18AP, and 14A are Pat's. Lip-bu is just a way better salesman.

kim82352

> IAEA Has Talked To Russia And Others About Taking Iran’s Highly Enriched Uranium – AP

Someitguy99

I don’t watch tv, YouTube, or whatever really. I read, and I look at AP/Reuters. Consider giving it a try.

SuicideSpeedrun

AP

imustbegthequestion

Memorial Day is in a month. AP tests are coming up. Most colleges graduate by Mother's Day. He. Is. Running. Out. Of. Time.

Icy-Motor-8519

Trum-p evacuated after incident at correspondents dinner, shots fired by gunman: AP

NotMe357

"Bessent rules out extending U.S. waivers for Iranian and Russian oil - AP News"

d33p7r0ubl3

Watching it on YouTube. I like AgendaFreeTV but I’m sure AP News is showing it too

Soffatjockis

**AP NEWS: The U.S. imposes sanctions on China-based oil refinery, as well as dozens of firms and tankers accused of shipping Iranian oil.**

Revolver_Lanky_Kong

AP News: US soldier charged with using classified intel to win $400K on Maduro raid is due in court Bro thought he was part of the ingroup, sorry insider trading is only for the big dawgs 🫵😂

stringtheory28

Damn, they really throwing our boys under the bus for the same shit they’re doing at the top. Gross. WASHINGTON (AP) — A U.S. special forces soldier involved in the military operation to capture Venezuelan President Nicolás Maduro has been charged with using classified information about the mission to win more than $400,000 in an online betting market, federal officials announced Thursday

Soffatjockis

**AP news: Third aircraft carrier arrives in the Middle East (35 mins)** **AP news: Air defenses in action over Tehran (43 mins)** Shits about to go down.

Oograr

AP: "Intel pivoting to shoe sales"

domesticabuseaintcul

It wouldn’t be grammatically correct, there is only one option in the first sentence without entirely restructuring it. Source: A+ in AP English throughout my entire education.

Soffatjockis

**AP news: Israeli defense minister says Israel is ready to resume war with Iran** Likely why we are dumping. These fuckers are not done until they have eradicated themselves, which will be the result of this war. Iran will win, with the backing of China.

jmu_alumni

Lol. 2024: > DEA MOVING TO RECLASSIFY MARIJUANA AS LESS DANGEROUS DRUG: AP

Soffatjockis

**Pentagon says it will take months to clear mines in the Strait of Hormuz, AP source says ** Bullish. Should pump 2% tomorrow.

avdvetf

bul r fuk >Right now we’re seeing multiple social media reports of activity (AA, explosions) in Tehran, Qom, Isfahan, Karaj — but no confirmation yet from Reuters, AP, BBC, or Iranian state media.

xeuropa

AP: Iran's Revolutionary Guard attacks a third ship in the Strait of Hormuz, semiofficial Iranian news agencies report. The two ships that were attacked earlier are now are in the force’s custody and being taken to Iran, state television reported.

ProudPeak3570

the strait of hormuz is gonna be the hardest topic in AP history

JohnDoeMi6

Bro AP could not have waited like 2 hours to post that story? 😒

User0198888

At the White House check AP YouTube 4:00 PM ET

dontslambro

Vance called off the trip to Pakistan - AP citing a US official.