Final Letter

By Hoda Mehr Mon, Apr 19, 2021

Hey Scoopers,

After stronger-than-expected economic data and earnings reports, investors’ enthusiasm pushed the stock market for another record-setting week. — More on that in the “Overall Market” section.

Beyond the overall market, a biotechnology company plans to take advantage of the vaccine development’s fastened pace to develop more powerful shots. Meanwhile, a visual commerce company expects to deliver numbers below the market’s consensus. — More on that in the “What’s Up?” and “What’s Down?” sections.

By the way, what do you think about Jeff Bezos’ last letter as Amazon CEO? — 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 in the green zone on Friday. Scroll down to the “Overall Market” section to read more.
• Cryptocurrency: Bitcoin‘s price retreated to $61K per coin mark.

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Stronger Data

The stock market closed the week in the green zone on Friday.

After solid earnings reports from the banking sector, the stock market rallied to complete another record-setting week. Along with the reports, stronger-than-expected economic data showed the economy is still moving forward toward recovery. Analysts believe that the consumer spending data reinforced investors’ confidence in the economic rebound, leading the S&P 500 index and the Dow Jones index to a new closing high.

More Vaccines

So, what happened?

Shares of Moderna (Ticker: MRNA) were up by more than 10% on Friday. The surge came after the company stated it expects to have a COVID-19 booster shot available later in 2021. Although the vaccine is still experimental, Moderna’s goal is to develop a vaccine to combat recent COVID-19 variants. Moderna also studies a combination vaccine to protect against COVID-19 and the flu, along with the experimental vaccine. Moreover, Moderna CEO Stephane Bancel stated that it is a unique opportunity to develop new vaccines faster than ever in the industry.

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Below The Expected

So what happened?

Shares of Pinterest (Ticker: PINS) were down by more than 9% on Friday. The plunge came after the visual commerce platform indicated that it expects a low-70% first-quarter revenue growth. Although it is exponential growth, the market predicted a minimum of 73% revenue growth. Furthermore, the research company Cleveland Research stated that the results could be even more disappointing. It seems that the news faded Pinterest investors’ confidence in the company’s first quarter.

Final Letter

So what happened?

Amazon (Ticker: AMZN) Founder Jeff Bezos issued a final letter as the company CEO.

After thirty years ahead of the world’s largest eCommerce company, Jeff Bezos announced in February it would step down as Amazon CEO. On Thursday, Bezos issued a letter to Amazon’s employees before turning the helm over to AWS CEO Andy Jassy. Throughout the letter, Jeff Bezos addressed Amazon’s consumer-centric philosophy that focused relentlessly on the consumers. Bezos believes that it was essential to guarantee Amazon’s growth as a reliable company. Furthermore, Bezos stated it is time to do the same for its employees. However, the CEO rejected claims that Amazon has cultivated an unsafe workplace culture in its warehouses. After Bezos passes Amazon’s leadership forward, it will hold the Executive Chairman title. The future CEO, Andy Jassy, has been with Amazon since 1997. He fulfilled critical roles in the Amazon Web Services development, a profit engine for the company. Moreover, the markets believe Bezos is resigning Amazon’s leadership to focus on his recent ventures like Blue Origin, its space tourism company.

It seems that although Jeff Bezos is stepping back on Amazon, it will stay fully active in other businesses.

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