Coronavirus
By Tue, Jan 28, 2020
Hey Scoopers,
Coronavirus became the negative sentiment trigger the investors were looking for, and the large sell-off pushed the market to the red zone, even before the market had a chance to start the week on Monday — more on that in the “Overall Market” section.
Beyond the overall market, coronavirus has turned into good news for at least one pharmaceutical company. Moreover, amidst market worries, one stock is forced to stop its soar toward the sun — more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, and by the way, Did you read the first edition of the IPO Review series on the Daily Scoop? — more on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:Market Recap
- The stock market started the day in the red, and stayed in that zone for the whole time on Monday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: On Monday, we talked about the analysis of “buy bitcoin” search volume on Google, and how the heightened level of search has historically indicated an upward price movement. It looks like the analysis was correct, and Bitcoin’s price surpassed the $9,000 mark on Monday.
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Coronavirus
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Market sentiment and what triggers it is a strange phenomenon. Who would have assumed a sell-off trigger could be the spread of coronavirus in China? That’s why they say, no one can predict the market. You never know what causes investors to fear the future and sell off their investments to stay safe. Remember this fact, the next time you decide to predict the direction of the stock market.
Finally, one good piece of news about coronavirus.
So, what happened?
Shares of Gilead Sciences (Ticker: GILD) were up more than 1% on Monday. The company hasn’t had much success in the last few quarters, however, there was news that the company may already have the treatment for coronavirus and the stock is up slightly on that positive news.JTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3aWRnZXQuc3RvY2tjYXJkLmlvJTJGanMlMkZzYy13aWRnZXQuanMlMjIlMjB0eXBlJTNEJTIydGV4dCUyRmphdmFzY3JpcHQlMjIlM0UlM0MlMkZzY3JpcHQlM0UlM0NkaXYlMjBjbGFzcyUzRCUyMnNjLXdpZGdldC1jb250YWluZXIlMjBzY19sYXJnZSUyMiUyMGRhdGEtdGlja2VyJTNEJTIyR0lMRCUyMiUyMGRhdGEtdG9rZW4lM0QlMjJUTmNwcks3TjcxWGltUGpDSnFickQyNVhnV3YyJTIyJTNFJTNDJTJGZGl2JTNFJTBB
Stop soaring toward the sun.
So, what happened?
Shares of SolarEdge (Ticker: SEDG) were down more than 12% on Monday. The decline is sharp enough to push the stock near some of the analysts’ price targets. The company designs, develops, and sells inverter systems for solar photovoltaic (PV) installations. It has been growing its revenue and has a strong balance sheet without any long-term debt. As such the stock had been on a one-way trip toward the sun lately. However, on Monday, a few financial analysts changed their target price for the stock, and amidst market worries, investors decided to sell the stock and pluck the gains before it’s too late.JTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3aWRnZXQuc3RvY2tjYXJkLmlvJTJGanMlMkZzYy13aWRnZXQuanMlMjIlMjB0eXBlJTNEJTIydGV4dCUyRmphdmFzY3JpcHQlMjIlM0UlM0MlMkZzY3JpcHQlM0UlM0NkaXYlMjBjbGFzcyUzRCUyMnNjLXdpZGdldC1jb250YWluZXIlMjBzY19sYXJnZSUyMiUyMGRhdGEtdGlja2VyJTNEJTIyU0VERyUyMiUyMGRhdGEtdG9rZW4lM0QlMjJUTmNwcks3TjcxWGltUGpDSnFickQyNVhnV3YyJTIyJTNFJTNDJTJGZGl2JTNFJTBB
Did you read the first edition of the IPO Review series on the Daily Scoop?
JTNDaW1nJTIwc3JjJTNEJTIyaHR0cCUzQSUyRiUyRnRyYWRlc3RvY2tzLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyMCUyRjAxJTJGSVBPUmV2aWV3cy5naWYlMjIlM0U=So what happened?
On Monday (Read More), we published the first edition of the Daily Scoop’s IPO review. As 2020 IPOs get started, our goal is to give you a fun and brief review of the facts and insights you would need to know about the companies that are going public.
The first edition was dedicated to OneMedical (To-be ticker: ONEM). The company is a start-up firm from Silicon Valley, California, with a mission to “transform healthcare for all into a human-centered, technology-powered model.” We can’t wait to hear what you think about this first edition.
You are still here?
Go read the first edition of the IPO review series, and let us know how you liked it.
Also, the next IPO review on our list is a deep dive into Casper Mattress. If we get 10 Scoopers to ask for a detailed analysis and review of Casper Mattress IPO documentation, we will dedicate one full Scoop to it just like today’s edition. The power is in your hands now …
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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
