🍨 Daily Scoop: Tell Me Where? | Trade Stocks

Tell Me Where?

By Thu, Sep 24, 2020

Hey Scoopers,

On Wednesday, the market didn’t maintain its momentum because nothing has changed about the market and the economy. — More on that in the “Overall Market” section.

Beyond the overall market, one social media stock got upgraded by analysts despite doing nothing, while a future-of-shopping stock dropped drastically despite delivering a satisfactory quarterly earnings report. — More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, Can anybody tell us where we can travel during the pandemic? Tell us?! — 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 finished Wednesday deeply in the red. Scroll down to the “Overall Market” section to read more.
  • Cryptocurrency: Wednesday was a red day for Bitcoin, and its price got closer to $10,000 per coin.

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Nothing New To See Here

 

After breathing in the green zone on Tuesday, the market went back to sliding down on Wednesday. There is again no new news to justify the shift. The situation is the same as it has been for the last few weeks. Coronavirus is still around, the U.S. election is just around the corner, the tech sector is overvalued, and the second stimulus package hasn’t come through. There is nothing new to see here, and until the situation stays the same, the market may not find a reason to change course in a meaningful way.


Upgraded

So, what happened?

Shares of Twitter (Ticker: TWTR) were up more than 5% on Wednesday. The price jump pushed the stock in an overvalued range, and came after analysts from Pivotal Research upgraded the stock from a Hold rating to a Buy rating.



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Future Of Shopping

So, what happened?

Shares of Stitch Fix Inc (Ticker: SFIX) were down by more than 15% on Wednesday. The company announced its latest quarter earnings report. In preparation for the earnings announcement, the stock rallied more than 11% in five days or so. The company managed to put up a good performance. Revenue was up 11%, and active clients were up 8%. However, the company turned unprofitable, which may have been the reason for the sell-off. The company’s data-driven approach to delivering a personalized e-commerce experience for users is unique and may be shaping the future of shopping. This is a stock worth watching if it keeps sliding.


Where To Vacation During the Covid-19 Pandemic?

So what happened?

United Airlines (Ticker: UAL) is looking to Google to help people figure out where to go during the COVID-19 pandemic. Interestingly, United is also using Google’s booking engine, and that’s something investors should have an eye on. Back to the where to travel conversation, people are desperate to travel, and they want Google+United to tell them where they can go so that socially-distanced tourism is allowed.

Do you have any travel plans during the COVID-19 pandemic? Let us know by emailing us at members@tradestocks.com.


Disclosure: Authors of this Scoop own shares of StitchFix (Ticker: SFIX).

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