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Daily Scoop

Buying More Homes

By Mon, Aug 10, 2020

Hey Scoopers,

The market ended the week in the green, and the Dow took a victory lap. — More on that in the “Overall Market” section.

Beyond the overall market, one real estate company saw the light at the end of malls’ dark tunnel, and analysts became worried about the future of one profitable technology stock. — More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, people are buying more homes. — More on that in the “Water Cooler” section.

But, first, here is a recap of what happened in the market yesterday:

Market Recap

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The Dow’s Victory Week


All three indices finished last week in the green, and for the 5-day trading week, the Dow led the pack with almost 4% growth. The upward movement was thanks to airline stocks and the Dow transportation index.

There Is Light At The End of Malls’ Tunnel

So, what happened?

Shares of Simon Property Group (Ticker: SPG) were up by almost 2% on Friday. The largest commercial real estate company in the U.S. sees some lights at the end of the dark malls’ tunnel. And, the savvier hero is none but the mighty Amazon (Ticker: AMZN) who is looking to convert failed malls to fulfillment center.

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Analysts Are Worried

So, what happened?

Shares of Alteryx (Ticker: AYX) were down by more than 28% on Friday. The company provides self-serve analytics software. It’s profitable and generates free cash flow. It is surprising to see the stock dropping that much. Several analysts are worried about the company’s full-year performance and observed a slowdown in the customer growth figures. The result is a massive sell-off of the stock as investors were not willing to take any chances.

Everybody Wants To Buy A House

So what happened?

One noteworthy piece of news last week was the 16% jump in the number of existing houses pending sales in the U.S. in June compared to a year ago. The report came as a surprise to even the economists at the National Realtor Associations. Thanks to the record-low interest rates, and the extended hours we all spend living in our houses, more people decided to purchase a new home.

Have you bought a house since the start of the pandemic? Let us know what drove your decision. Our email address is members@tradestocks.com. Send us a few lines.

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