Free Election Food
By Wed, Nov 4, 2020
Hey Scoopers,
The market indices celebrated the presidential election day by hovering in the green zone on Tuesday. — More on that in the “Overall Market” section.
Beyond the overall market, investors in an EV stock started to pre celebrate possible good news, while Chinese regulators suspended a highly anticipated IPO. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, did you try any of the free election food? — 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 Tuesday in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price moved to more than $13,700 per coin.
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Celebrating The Election
All three indices celebrated the presidential election by starting and finishing Tuesday in the green. There wasn’t much volatility throughout the day, either. Now, all eyes are on the results, and if history is any indication of the future, the uncertainty should gradually subside. Although, no one knows what may throw the market off its historical trend.
Pre-Celebration
So what happened?
Shares of Workhorse Group Inc (Ticker: WKHS) were up by more than 11% on Tuesday. The company’s investors have been waiting for possible good news about the United States Postal Services’ agreement. The company is planning to give investors an update in the coming days, and investors are pre-celebrating the possibility of winning that contract with USPS.
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Suspended IPO
So what happened?
Shares of Alibaba Group Holding (Ticker: BABA) were down by more than 8% on Tuesday. The company is an investor in Ant Group, which was supposed to go public on Hong Kong’s stock exchange. However, one day before the scheduled IPO, the Chinese government suspended the IPO. The regulators conflict with Jack Ma, founder of BABA and Ant Group, over the IPO and have summoned him back to China. As a result, Alibaba’s stock is falling victim to the conflict.
Free Food On Election
So what happened?
In the age of work-from-home and the COVID-19 pandemic, restaurant chains wouldn’t be missing out on any tricks up their sleeve to lure people in, and the election day was no exemption. Major fast-food chains offered free food and special election deals all-day on election day. From McDonald’s to Subway, there was delicious Election food for every taste. Our favorite was McDonald’s’ free pastries that went well with our ice-cold coffee while watching the election results minute by minute. Did you taste any of the Election free food?
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
