Elon ❤️ Attention

By Hoda Mehr Tue, Feb 2, 2021

Hey Scoopers,

SenateRepublicans met with President Biden over the new stimulus package, and the market took it as a good sign. — More on that in the “Overall Market” section.

Beyond the overall market, space exploration stock got back on track, while a vaccine stock got a downgrade from financial analysts. — More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, did you see how Elon Musk inserted himself in the news? — 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: All three indices finished Monday in the green. Scroll down to the “Overall Market” section to read more.
• Cryptocurrency: Bitcoin’s price hit above $34,000 and dropped below $34,000 in its customary volatile manner.

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Good Progress

All three indices started the month of February in the green. It’s a good contrast to how they wrapped up last week. Senators and President Biden met to discuss the new stimulus package, and investors took it as a sign of progress, at least for now.

The short-squeeze drama continued as Redditors tried to create a short squeeze rally for Silver futures. In contrast, GameStop’s (Ticker: GME) stock price continued to fall as trading the stock remained restricted and limited on platforms such as Robinhood.

Back on Track

So, what happened?

Shares of Virgin Galactic (Ticker: SPCE) were up more than 28%. The company provided an update about its flight test program, which resumes on February 13th onward. If you remember, on December 14th, the company had to halt the test flight due to technical issues, and the stock dropped due to a knee-jerk reaction to that news. Now, the stock is back on track.

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A Downgrade

So what happened?

Shares of Moderna (Ticker: MRNA) fell more than 8% on Monday. The company got a downgrade from Bank of America over its high valuation. Despite the global COVID-19 vaccination needs, the stock’s 23% surge since its vaccine’s emergency approval by the FDA is where Bank of America analysts drew the line. Something to watch in the days to come.

Elon ❤️ Attention

So what happened?

Who is surprised that Elon Musk found a way to insert himself in the middle of the drama by conducting a voice chat discussion with Robinhood’s co-founder on the Clubhouse voice chat platform. The man finds a way to keep himself in the news even though this time the news has nothing to do with his companies or work. The man loves attention, that’s for sure.

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