Drama Continues
By Wed, Jan 27, 2021
Hey Scoopers,
The market is getting ready for a jam-packed week of earnings reports. — More on that in the “Overall Market” section.
Beyond the overall market, one plant-based stock secured its future via a joint venture, and several well-managed companies had a red day following the overall market direction. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, let’s recap GameStop’s drama if you are still wondering what has happened. — 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 indices finished the day in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price is hovering above the $32,000 range for one more day. The drama is in the stock market these days, it seems.
America’s #1 Stock Picker Reveals Next 1,000% Winner (free)
He’s found 40 1,000% or higher stock market winners. He beat 650 of the world’s most famous investors (including Bill Ackman and David Einhorn) in a trading contest. And today, he’s revealing the critical top trend to watch and his next potential 1,000% winner for free, right here. No credit card, email address, or subscription required.
Earning Reports Are Coming
All three indices ended the day in the red. It seems the market is recovering in the after-hour tradings fueled by strong earnings reports by Microsoft and the anticipation of similar performance by the big tech, namely, Facebook, Apple, and Tesla.
Joint Venture
So, what happened?
Shares of Beyond Meat (Ticker: BYND) were up more than 17%. Today’s price jump is well-deserved. The company announced a joint venture with PepsiCo to bring new plant-based protein to the world. This is quite interesting. Not only does it confirm that the plant-based movement is just at its early innings, but it also gives Beyond Meat what it needed the most: manufacturing capacity and distribution around the world to take its products worldwide.
Former Mechanic Reveals His 3-Click, 6-Figure Trading System
$39,800…$66,500…$158,600…These are the kinds of profits that a former mechanic is making by following a simple, 3-click strategy…A strategy that requires less than 60 minutes a week to execute.
Click right here to view the free training video for more details.
(By clicking you agree to receive email updates and special offers from Market Traders Daily)
Just A Red Day
So what happened?
Because the overall market indices finished the day in the red, it’s not surprising to see quite a few tech and gene-editing stocks lost some value today. Among the losers, a few interesting tickers were PayPal (Ticker: PYPL) Square (Ticker: SQ), Quidel (Ticker: QDEL), EA (Ticker: EA) and Activision Blizzard (Ticker: ATVI) that were down between 2% to 5% on Tuesday. These are all well-managed stocks worth watching if the stock price fall continues in the next few days.
Drama Recap
So what happened?
Shares of GameStop were up by almost 200% (Ticker: GME) in our surreal battle and drama between retail investors, short-sellers, hedge funds, and wall street media. If you don’t know what’s happening, let me give you a quick recap. Retail investors on one of Reddit subthreads decided to coordinate their efforts to prop up GameStop’s stock price after noticing how heavily institutional short sellers shorted the stock. They knew that if they could move the stock price up a little bit, the so-called short squeeze would force institutional short sellers to buy the stock to cover their shorts and consequently push the stock price higher. In the process, they almost brought down an institutional short-seller called Melvin Capital, who had shorted stock heavily, and it was forced to raise more than $2.7 billion from Point72 and Citadel hedge funds to stay afloat after the short squeeze. The media did what it does best and fanned the fire. And, finally, the one man who shouldn’t have gotten involved got involved and blew up the drama into a full-on battleground, the stock market style.
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
