🍨 Daily Scoop: Bumble Is Not Hot | Trade Stocks

Bumble Is Not Hot

By Mon, Jul 26, 2021

Hey Scoopers,

Although going through a selloff on Monday, the markets closed the week with strong gains. — 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. — More on that in the “What’s Up?” and “What’s Down?” sections.

By the way, are you ready for in-person dating? — 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: 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: NVDA) were up by more than 8% this week. The semiconductor manufacturer’s stock benefited from Morningstar’s comments about the company. Morningstar’s analyst Abhinav Davuluri is raising his moat rating to wide from narrow, thanks to intangible assets related to Nvidia’s 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 didn’t 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 news’ impact.

Bumble Is Not Hot

So what happened?

Bumble (Ticker: BMBLannounced its first restaurant. “Bumble Brew” will be the dating app’s 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.

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.