A Crash Sign
Hey Scoopers,
The short squeeze drama translated into a stock market crash sign and made the overall market nervous. — More on that in the “Overall Market” section.
Beyond the overall market, the emergence of 5G-enabled phones meant success for a semiconductor stock. In contrast, a downgrade by Piper Sandlers meant a bad day for a cash-rich medical device manufacturer. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, we’ve got three stocks on our watchlist this week. What are you watching? — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market on Friday:
Market Recap
- U.S. markets: All three indices finished Friday and last week in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price is back to $32,000 per coin.
Is it a Sign?
Friday turned out to be another red day. The short squeeze battle between retail investors and short-sellers have the entire market worried about a possible crash. Investors rushed to safety on Friday. Investors are assuming the drama may have a ripple effect and causes the so-much discussed crash.
The 5G Effect
So, what happened?
Shares of Skyworks Solutions Inc (Ticker: SWKS) were up more than 5% on Friday. The company announced its quarterly earnings reports. The company managed to beat the expectations. The excellent performance was thanks to the roll-out of 5G-capable phones by its customers such as Samsung and Apple.
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A Downgrade
So what happened?
Shares of Zynex Inc (Ticker: ZYXI) were down by more than 10% on Friday. Zynex is a medical device company. It designs, manufactures, and markets medical devices that treat chronic and acute pain and rehabilitate muscles with electrical stimulation. This profitable, cash-rich company got a downgrade from Piper Sandler, and investors followed suit.
This Week’s Earnings
So what happened?
We are deep in the midst of the earnings report season. Amazon (Ticker: AMZN), Alibaba (Ticker: BABA), and Alphabet (Ticker: GOOG / GOOGL) are among the companies releasing their latest earnings report that we would be watching. What are you watching this week?
Here is a list of some of the most important earnings you may want to have an eye on:
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.