🍨 Daily Scoop: A Crash Sign | Trade Stocks

A Crash Sign

By Mon, Feb 1, 2021

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.

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