🍨 Daily Scoop: Burritos vs. robots

By Hoda Mehr Thu, Jul 25, 2019

What you need to know?

Looks like burritos won, and robots lost the stock market games on Wednesday. That wasn’t all though. A lot more happened between burritos and robots. Scroll down to the “What’s up” and “What’s down” sections to have your bowl of scoops.

• U.S. markets: The S&P 500 and the Nasdaq indices stayed in the green zone, while the Dow took the opposite direction and finished the day in the red zone. Scroll to the Overall Market section to read more about what happened.
• Cryptocurrency: Bitcoin’s price slid under $10,000 per coin, after Treasury Secretary, Steven Mnuchin, announced new regulations are coming to the cryptocurrency sector.

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Earnings roll on.

What happened on Wednesday?

The good earnings continued to push the stock market prices higher. As a result, two of the three major stock market indices finished Wednesday higher than Thursday. Looks like the good times are here to stay.

At the same time, big-tech regulatory probes are getting serious. The Department of Justice started an antitrust investigation into some of the big technology companies. The investigations may result in fines, breakups, or uncertainties. And, when the leaders of the technology sector get into trouble, the market will notice.

Now What?

Listening and reading the latest quarterly earnings, there are not too many indicators for a stock market decline. While several macro and political news are worrisome, but the stock market keeps on humming. Even a decade of a crash-less stock market hasn’t convinced the market cycle to turn downward. This quarter reminds us that predicting the market downturn is very hard. Even if the historical data says it’s time for a decline, the market may have a different agenda for much longer.

These stocks were on fire. 

So what happened? 

• Chipotle (Ticker: CMG) shareholders are so grateful to Taco Bell, who gave up their CEO and brought back the glory to the burrito restaurant.
• Snap’s (Ticker: SNAP) shares were up another 17%, as investors were not ready to give up celebrating the company’s better than expected revenue and user growth.
• Despite many critics, DOJ approved the merger between T-Mobile (Ticker: TMUS) and Sprint (Ticker: S). Sprint’s stock was up more than 8%, while T-Mobile’s CEO was busy making fun of AT&T(Ticker:T) on Twitter.
• If you think Amazon (Ticker: AMZN) has strangled UPS (Ticker: UPS), you are wrong. Shares of UPS were up more than 8% as the company announced the most profitable quarter in its history.
• Despite a $5 billion FTC fine, shares of Facebook (Ticker: FB) jumped up more than 1%, as revenue and daily active users continued to grow.

Earnings were not all rosy.

• All iRobot (Ticker: IRBT) did in its latest quarter earnings was growing double-digit. But investors were not sold on the robot maker’s plan to rule the world and the stock continued to slide another 17%.
• Tesla (Ticker: TSLA) keeps disappointing investors. Despite the company’s record-high delivery numbers, Elon musk couldn’t paint a convincing path to profitability. The company’s CTO moved to an advisory role. And, investors sent the stock down by more than 9%.
• Tesla’s nemesis, Ford (Ticker: F), didn’t want to take a different path and disappointed investors with lower profitability due to higher cost of restructuring. Shares of the company lost more than 4% on Wednesday.
• The highflyer maker of Invisalign products, Align Technologies (Ticker: ALGN), lost almost all its gain in the last quarter because of a disappointing forecast for the rest of the year. The shares were down by more than 22%.

The $4.6 Million lunch is postponed. 

So, what happened?

Damn you, kidney stones! The winner of the $4.6 million lunch with Warren Buffett and his entourage of six-seven invited friends had to postpone the date. TRON’s founder, Justin Sun, announced the postponement through his company’s foundation’s blog and Twitter.

We were all so excited about this lunch. If anyone can change uncle Warren’s mind about cryptocurrencies is someone like Justin. What would you say to Warren Buffett if you had a chance to have lunch with him, regardless of whether you can find $4.6 million cash somewhere in your pocket? Reply to this email and let us know.

Disclosure: Authors of this Scoop own shares of Chipotle (Ticker: CMG), iRobot (Ticker: IRBT), Facebook (Ticker: FB), and Amazon (Ticker: AMZN), Tesla (Ticker: TSLA), and Align Technologies (Ticker: ALGN). 

About the Author

The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card