
Bumble Is Not Hot
Hey Scoopers,
Although going through a selloff on Monday, the markets closed the week with strong gains. â More on that in the “Overall Market” section.
Beyond the overall market, a semiconductor manufacturer received good news from analysts. Meanwhile, a hydrogen cell fuel company is not doing so well. â More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, are you ready for in-person dating? â More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: The stock market ended in the green zone on Friday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency:Â Bitcoin‘s price increased to $32K per coin.
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Finishing the Week
The stock market ended in the green zone on Friday.
After sinking at the beginning of the week, the three major U.S. stock indexes sealed all-time highs. Although the markets went through a sell-off on Monday under news about COVID-19 cases increasing, investors put aside the concern as the increase happened only among the unvaccinated and hospitalizations stayed stable.
Widening the Lead
So, what happened?
Shares of Nvidia (Ticker:Â NVDA) were up by more than 8% this week. The semiconductor manufacturerâs stock benefited from Morningstarâs comments about the company. Morningstarâs analyst Abhinav Davuluri is raising his moat rating to wide from narrow, thanks to intangible assets related to Nvidiaâs GPU. The researcher believes Nvidia is widening its lead in the market.
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Down Again
So what happened?
Shares of Plug Power (Ticker: PLUG) were down by more than 2% on Thursday. Although the hydrogen fuel cell company announced a new executive, investors didnât feel excited about the news. The company hired David Mindnich, an ex-Tesla executive. Plug expects Mindnich to replicate its prior manufacturing success at the electric vehicle maker. The bearish sentiment toward alternative energy stocks might have affected the newsâ impact.
Bumble Is Not Hot
So what happened?
Bumble (Ticker:Â BMBL)Â announced its first restaurant. âBumble Brewâ will be the dating appâs first restaurant to focus on a date-friendly approach. Although the company had plans to start the restaurant project before, the pandemic forced a postponement in its debut. Bumble expects the restaurant to be a perfect place for connections of all kinds, not limiting the experience just for lovely couples. According to the company, 90% of its US users are ready to date in real life again.
If the project works out, it could help Bumble recover its stock value that has been 24% lower since the company went public.
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.