šŸØ Daily Scoop: New Battleground | Trade Stocks

New Battleground

By Thu, Oct 8, 2020

Hey Scoopers,

The stock indices moved synchronously after President Trump clarified some COVID-19 relief packages are still on the table. ā€”Ā More on that in the “Overall Market” section.

Beyond the overall market, investors of a camera company took a long-awaited victory lap, while the cold reality of running a business hit a SPAC-IPO. ā€”Ā More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, Apple’s new battleground is Audio. ā€”Ā More on that in the “Water Cooler” section.

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

Market Recap

  • U.S. markets: All three indices ended Tuesday in the green, quite different from how they finished Tuesday.Ā Scroll down to the “Overall Market” section to read more.
  • Cryptocurrency: Not much to say aboutĀ Bitcoin’s price, except that it’s hovering in the mid-$10,000 range.

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Synchronized Dance

Looking at the three indices’ charts on Wednesday, they were so attuned. It’s rare to see that the DOW index moves and gains as much as the Nasdaq index, and the S&P 500 follows suit too. However, that’s precisely what happened on Wednesday. After requesting Congress to stop stimulus negotiations, President Trump reassured people that some COVID-19 relief packages are still on the table. In response, indices danced upward synchronously on

Wednesday.


Victory Lap For Loyal Investors

So, what happened?

Shares of GoPro (Ticker:Ā GPRO) were up by more than 34% on Wednesday. The company’s quarterly earnings report is one month away. However, itĀ announcedĀ its paid online subscribers surpassed 500,000 milestones. It’s been too long since GoPro’s double-digit stock price jumps. On Wednesday, the company finally got a jolt of excitement during the COVID-10 era. While the long-term issues with the company’s one-trick-pony model still exist, nothing is wrong with taking a little victory lap if you are among GoPro’s loyal stock owners.



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Cold Reality

So, what happened?

Shares of Hyliion (Ticker:Ā HYLN) were down by more than 11% on Wednesday. The company used to be among the hottest SPACs before its merger with SHLL. However, since the merger, the stock hasn’t seen many green days. Hyliion’s story or business hasn’t changed since the merger. The drop in the price seems to be due to SHLL investors selling the shares they purchased before the merger after the stock surged from $10 per share to more than $30 per share in anticipation of the merger. Now that the merger is come and gone, there is not much excitement left. The cold reality of running a business is that the Hyliion is now on the hook to deliver as promised.


The New Battleground

So what happened?

Since Apple’s iPhone sales have stopped skyrocketing, the company realized there is only so much it can do to sell more phones. The company went on a spree to find new battlegrounds.

First came Apple’s subscription services. From music streaming to digital storage and Apple news, Apple tried to sell subscriptions. Apple TV was the next battleground, followed by Apple’s credit card and Apple health. Now, the next battlefield is revealed.

The company has secretly dumpedĀ Sonos (Ticker:Ā SONO), Bose, and Logitech (Ticker:Ā LOGI) and won’t be supporting their speakers anymore because audio is the next battleground.

If you have any questions, or suggestions let us know by emailing us atĀ members@tradestocks.com. We look forward to hearing from you.


Disclosure: Authors of this Scoop own shares of Apple (Ticker:Ā AAPL).

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