🍨 Daily Scoop: Billions in Fundraising | Trade Stocks

Billions in Fundraising

By Fri, Jun 18, 2021

Hey Scoopers,

After the Fed’s decision during the previous session, the markets had mixed paths on Thursday. — More on that in the “Overall Market” section.

Beyond the overall market, two chipmaker stocks witnessed a spike in their stocks’ value. One analyst and a partnership were responsible for the investors’ confidence boost. — More on that in the “What’s Up?” and “What’s Down?” sections.

By the way, Google’s spin-off just received billions in a new fundraising round. — 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: The stock market ended mixed on Tuesday. Scroll down to the “Overall Market” section to read more.
  • Cryptocurrency: After dropping under $31K per coin on the weekend, Bitcoin‘s price decreased to $37K per coin.

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Highly Volatile Market

The stock market ended mostly in the red zone on Thursday.

After the Federal Reserve updated its monetary policy and projections on Wednesday, the markets reacted to the news of faster-than-expected high-interest rates. The Dow Jones index underperformed, while the S&P 500 had an extremely volatile session ending negatively. However, the Nasdaq index had a consistent increase, adding 121 points as the markets closed. It seems the stock market investors are uncertain about the future.

Bullish Analyst

So, what happened?

Shares of NVIDIA (Ticker: NVDA) were up by more than 4% on Tuesday. The spike came after Jefferies analyst Mark Lipacis reiterated its buy rating for the chipmaker. The analyst believes investors underestimate NVIDIA’s future in the software area, increasing his price target from $740 to $854. Furthermore, the analyst estimated a $50 EPS for the company in 2025. It seems that investors agreed to follow the analysts’ recommendation.

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Better Than Rivals

So what happened?

Shares of AMD (Ticker: AMD) were up by more than 5% on Thursday. Google’s subsidiary chose AMD’s data center chip for its cloud virtual machines. The two companies announced the partnership involving AMD’s EPYC processors. According to Google, the EPYC chips offered significantly better performance than any other rival provider during the tests. Although the chips are not installed yet, the search giant stated that the chips would bring a 56% jump in performance for customers.

Billions in Fundraising

So what happened?

Alphabet’s (Ticker: GOOGWaymo received $2.5 billion in fundraising. The company is Google’s self-driving car spin-off. The raised fund is added to a total of $5.7 billion raised in the past 15 months. Although the company is still in its early stages, analysts believe Waymo’s valuation is nearly $30 billion. The valuation reflects the optimistic expectations that investors have about the future of autonomous driving technologies.

Although the self-driving company continues to lose money, the latest funding round shows Alphabet has managed to grow external investors’ confidence in the future of self-driving technology.

If you have any questions, or suggestions let us know by emailing us at [email protected]. We look forward to hearing from you.

About the Author

Felipe Nebesnyj is an Economics student who is passionate about the stock market and investing in the market. Originally from Brazil, he is working and studying in the U.S. and started learning about and researching the stock market at 16. Before joining Stock Card, Felipe worked on multiple stock market research projects that gave him the necessary knowledge and confidence to put into his stock market analyst career at Stock Card. Last but not least, he is an excellent violinist and enjoys video games.