šŸØ Daily Scoop: Whoof | Trade Stocks

Whoof

By Thu, Aug 6, 2020

Hey Scoopers,

Vaccine hopes and banking earnings pushed the Dow ahead of all the indices. ā€”Ā More on that in the “Overall Market” section.

Beyond the overall market, investors in one pet insurance stock WHOOF’d 20% up, while investors in a tech stock partied down after the company’s stellar quarterly earnings. ā€”Ā More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, did Google get lucky once, and that was it? 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


The Top 5 Stocks to Buy and Hold Now

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And while no one can predict what could possibly happen next, thereā€™s no shortage of top blood in the street stock opportunities to start considering right now. In fact, here are some of the top stocks that are showing big signs of life, even with the virus s&ll in the headlines.

Report here.


The Dow Led The Pack

All three indices continued their green streak. However, this time, the Dow led the pack, which is a sporadic occurrence.Ā Good earnings reports by banks and the COVID-19 vaccine hopeĀ were the fuel for the stocks in the Dow index.


Whoof

So, what happened?

Shares of Trupanion (Ticker:Ā TRUP) were up more than 22% on Wednesday. The pet insurance provider announced itsĀ quarterly earnings report, and all investors could say was WHOOF.



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Party Down

So, what happened?

Shares of Fastly (Ticker:Ā FSLY) were down more nearly 20% on Wednesday. The company’s stock price has gone up from around $20 per share to more than $100 per share. Fastly support the media corporations in managing their live operations by enabling easier and more efficient online content delivery despite the stellar growth of online content.

The company announced itsĀ quarterly earnings reportĀ on Wednesday, and something spooked investors enough to sell the stock down by 20%. Revenue was up, the number of customers was up, and the company raised its target for the full year. The spooky news was most likely becauseĀ 12% of Fastly’s revenue was coming from Tik Tok. Investors are worried that Fastly may get caught in the political back and forth surrounding Tik Tok, and wanted to lock their gains.


Did Google Get Lucky Once?

So what happened?

The news broke that Google is shutting down itsĀ Google Play Music service, including its podcast hosting services. For a cash-generating machine known as one of the most innovative companies of the 20th century, Google has many embarrassing failures.

The list ofĀ failed bets at GoogleĀ is long and lengthy. It makes you wonder, did Google just get lucky one time, and came up with the right technology at the right time only once and that was it?!

Do you have any questions or feedback to share with us? Our email address isĀ 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