Is Sundar Calling Elon?
By Tue, Feb 11, 2020
Hey Scoopers,
We started the week with excitement and green arrows despite quite a few troublesome stories from around the world — more on that in the “Overall Market” section.
Beyond the overall market, one more music-streaming company is going public soon while profitability hope is coming to the ride-sharing industry — more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, and by the way, rumors have it that Sundar is calling Elon? — 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 zone. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price lost a bit of its momentum and nestled under the $10,000 mark on Monday.
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Everything is awesome, or is it?
The red arrows of last Friday gave their spots to the green arrows of Monday. As usual, the Nasdaq led the pack with more than 1% gain, and the other two indices followed suit.
On Tuesday, we will hear from The Fed’s Chairman Jerome Powell who will be speaking at the Congress about the state of the economy. However, apart from quite positive quarterly earnings, there are reasons to worry about the world’s economy. Coronavirus is not contained yet and is going to take a toll on China’s economy. Things are not stable in the EU either. However, ask investors, and everything is awesome.
All we can say is that we, surely, are living in an interesting period of the stock market’s history.
Profitability is around the corner.
So, what happened?
Shares of Lyft (Ticker: LYFT) were up more than 8% on Monday. The company is expected to announce its quarterly earnings report on Tuesday. And, investors are buying the stock in anticipation of good news and better-than-expected results. Where is this positive sentiment coming from?
Last week, shares Uber (Ticker: UBER), the company’s rival, were up approximately 10%. Uber announced that the company’s adjusted profit in the fourth quarter of 2020 will turn positive, ahead of its previously announced timeline for profitability. In other words, the company will turn profitable for the first time in its history. Uber’s’ excitement is creeping into the minds of Lyft investors.
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So, what happened?
Shares of Spotify (Ticker: SPOT) were down approximately 4% on Monday. As if the company didn’t have enough publicly-traded competitors already, Warner Music Group has filed to go public too. Spotify’s investors are worried about these titans of the industry entering the music-streaming market from the left and the right. It’s not surprising to see the stock is reacting negatively to the news.
Guess what? We will be getting into the nitty-gritty of The Warner Music Group’s IPO in our next IPO Review series (Read More).
Is Sundar Calling Elon?
So what happened?
We had a great weekend, woke up on Monday morning, reached out for our phones on the nightstand beside the bed, and what’s the first news of the stock market? Alphabet (Ticker: GOOG / GOOGL) may be contemplating to acquire Tesla (Ticker: TSLA). If the rumors are true, Sundar Pichai (CEO of Alphabet) must have been calling Elon Musk (CEO of Tesla).
Now what?
Over the years, we’ve learned that a lot of the stock market’s rumors turn into real stories in a matter of few days. Especially, the rumors about mergers and acquisitions tend to become real in a few days after the rumor spreads. But, again, it’s called a rumor for a reason. You’d never know whether it’s the Tesla crowd and fans that are hyping things, or there are facts backing the rumors.
All we know is that Tesla swing trades are hot… And, everyone is trying to get on this bandwagon. Investors are aware …
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
