3000% Gain
By Fri, Jul 17, 2020
Hey Scoopers,
The worries of less than perfect quarterly earnings are melting the tech stocks’ rally. — More on that in the “Overall Market” section.
Beyond the overall market, one stock with almost 3000% gain in 2020 seems to have more room to grow, while one of the best tech stocks is falling rapidly. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, the who’s who of Twitter got hacked, and the FBI isn’t happy. — 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 Thursday in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Can you guess what was Bitcoin’s price yesterday? If you guessed whatever it was the day before yesterday and before then, and before, before then, you are correct. It isn’t moving.
32X bigger than 5G?
5G and “AI” are all the rage…
But here’s what you likely don’t know:
The world’s best investors are lining up behind an explosive new technology that could trump them all. Warren Buffett calls it “ingenious.”
The Tech Rally Is Melting.
The market ended Thursday in the red. The Technology sector was the biggest loser, while the Energy sector ended in the green. Investors are selling their tech stocks to avoid the possible impact of bad news coming from quarterly earnings reports, and the technology stocks are on top of the list. The quarterly earnings report by Netflix (Ticker: NFLX) and its lower-than-expected subscriber growth is giving the investors the signal that the work-from-home surge to online life has hit a break for now.
Those are just our speculations, and we have to wait to see what happens in the next few weeks. However, when fundamentals do not drive the rally, anything can crash it back to earth.
Almost 3000% Higher And More Room To Grow
So, what happened?
Shares of Novavax (Ticker: NVAX) were up more than 11% on Thursday. The company is in the frontline race to the Covid-19 vaccine, along with the likes of Moderna (Ticker: MRNA). Moreover, the company is among the government’s Operation Warp Speed taskforce and has gained nearly 3000% in 2020. Despite such a stellar gain so far, analysts from H.C. Wainwright upgraded the stock with a Buy rating with a higher price target, and investors rushed to get in on the action.
The Top 5 Stocks to Buy and Hold Now
The coronavirus knocked the wind out of stocks.
And while no one can predict what could possibly happen next, there’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.
The Best Stock Of The Year, No More
So, what happened?
Shares of Fastly (Ticker: FSLY) were down more than 6% on Thursday. Like most work-from-home stocks, investors are selling them as fast as they can to lock their gains before it gets too late. Those downward movements have nothing to do with the company’s fundamentals, just like their earlier upward rally had nothing to do with it. Fastly was once the highest gaining stock of 2020. It isn’t that no more.
The Who’s Who Of Twitter Got Hacked, And The FBI Isn’t Happy
So what happened?
Twitter personalities and the most prominent social media influencer of Twitter (Ticker: TWTR) got hacked. Among the high profile names were President Obama, Elon Musk, and Jeff Bezos. This seems to be the largest and well-coordinated cyberattack in Twitter’s history, and the FBI isn’t happy.
We have to say, when our Twitter account didn’t get hacked, our mood got dampened. We thought we were Twitter personalities. Oh well, let’s look at the silver lining here. Our Twitter account is working just fine.
Our email address is members@tradestocks.com. Feedback and questions are welcomed, as always.
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
