Delivery Credit Card
By Mon, Apr 12, 2021
Hey Scoopers,
After a somewhat quiet week, the stock market prepared for the earnings report season starting next week. — More on that in the “Overall Market” section.
Beyond the overall market, a company secured a deal that will bring its brand to the world. Meanwhile, delivery times and post-pandemic uncertainty negatively affected a fitness company’s stock performance. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, do you think a credit card would make you more loyal to a company? — 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 last week in the green zone. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s stayed at $58K per coin.
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More Records Part 2
The stock market ended in the green zone on Friday.
Despite a week without any significant economic indicators changes, investors’ sentiment kept bullish. Following the records set earlier in the week, both the Dow Jones index and the S&P 500 index rallied for another record-setting session on Friday. The Nasdaq index also returned gains after reverting earlier intraday losses. Now, the markets prepare for the earnings report season kicking off this week as analysts expect companies to report their highest earnings growth in more than ten years.
Sports Streaming
So, what happened?
Shares of fuboTV (Ticker: FUBO) were up by more than 12% on Friday. The streaming television company announced a deal for exclusive streaming rights to FIFA World Cup qualifying matches. Although fuboTV’s investor recently raised concerns about fuboTV not standing out among other streaming services, analysts believe the deal will guarantee worldwide exposure for the company. For fuboTV CEO David Gandler, the agreement enables fuboTV to achieve a larger audience and increment its sports content portfolio. It seems that the gap between sports and streaming services will narrow down even further in 2021.
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Lagging Behind
So what happened?
Shares of Peloton (Ticker: PTON) were down by more than 4% on Friday. After a skyrocketing growth amid the COVID-19 pandemic, investors have backpedaled on the fitness products company’s stock. As the vaccine rollout happens more rapidly than expected, investors raised doubts about whether Peloton will keep its demand once the public starts going back to conventional gyms. Along with the doubts, Peloton’s flagship bike’s waiting time is still longer than two weeks. Moreover, investors raised concerns that the delays in its product delivery time and the gyms reopening could drag down Peloton’s earnings in 2021.
Delivery Credit Card
So what happened?
DoorDash (Ticker: DASH) is reportedly planning to launch its credit card.
After capturing 55% of U.S. consumer meal delivery sales in February, the meal delivery company took the lead in the food delivery war. Although it’s not clear whether meal delivery’s demand would keep at the current levels after restaurants fully reopen, DoorDash is looking for strategies to push its competitors even further behind and bring customers even closer. Now, it is reportedly looking to launch its credit card. The company believes that a proprietary credit card will attract more customers to DashPass, enlarging its loyal customer base. The company hasn’t selected an issuer so far. However, the food delivery company is reportedly exploring multiple large banks’ offers. The company also believes that working with a proprietary credit card would reduce credit card processing fees, which would allow the company to charge smaller delivery fees from its customers.
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
