The V-Shape
By Mon, Aug 3, 2020
Hey Scoopers,
The stock market’s V-shape recovery is visible, at least, as we ended July. — More on that in the “Overall Market” section.
Beyond the overall market, pinning images on Pinterest is the new era’s equivalent to window shopping, and perhaps, Visa can predict the state of the economy. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, everybody wants to be social media. If you don’t believe us, ask Microsoft. — 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 the indices ended last week in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price maintains its new record above the $11,000 mark.
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The V-Shape Recovery
Stock market indices wrapped July in the green. We are now seven months into 2020, and four months past the start of the COVID-19 pandemic. The NASDAQ’s year-to-date return is hovering above 19%, and the S&P 500 is above 1%. If you didn’t know there was a pandemic, you couldn’t guess that based on how the indices are starting August. We don’t know what’s coming to the market in the next few months of the year. However, from where we are standing, the stock market’s V shape recovery is in full view, at least, at this moment.
Pinning Images Is The New Window Shopping
So, what happened?
Shares of Pinterest (Ticker: PINSticker) were up 36% on Friday. The company announced its quarterly earnings report on Friday, and year-over-year revenue growth was 4% while monthly active users were up by 39%. Pinterest now has more than 400 million monthly visitors and its ability to monetize the traffic via advertising is stronger than ever. Perhaps, pinning images and things you like across the internet is the equivalent to window shopping and walking around the mall in the new digital era.
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Can Vis Predict An Economic Slowdown?
So, what happened?
Shares of Visa (Ticker: V) ended Friday down by almost 2%. The company’s stock price has been declining in the last few days of the week after it announced its latest quarterly earnings. Visa’s profit fell by 23%, and according to the management, the overall transaction volume came lower than expected. What’s worrisome is not Visa itself but the decline in payment transactions (online and offline included) that could be an indicator of a slowdown in the overall economy and consumer spending. Something to watch and follow as more macroeconomic indicators are reported.
Everybody Wants To Be Social Media
So what happened?
What do all cool companies have in common? They own some sort of social media. If you don’t agree with us, ask Microsoft (Ticker: MSFT) who couldn’t resist not having one, and confirmed that it has been in talks to acquire Tik Tok.
If you have any feedback or questions, please let us know. Our email address is members@tradestocks.com.
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
