🍨 Daily Scoop: Keep On Streaming | Trade Stocks

Keep On Streaming

By Thu, Feb 25, 2021

Hey Scoopers,

The stock market stayed giddy thanks to Chairman Powell’s testimony on Tuesday. — More on that in the “Overall Market” section.

Beyond the overall market, GameStop stock was back to the game, while a roaring eCommerce stock disappointed its bullish investors. — More on that in the “What’s Up?” and “What’s Down?” sections.

By the way, there is a new streaming app if you’ve already finished watching all the streaming content out there. — 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 Wednesday in the green. Scroll down to the “Overall Market” section to read more.
  • Cryptocurrency: Bitcoin’s price is back to $50K per coin as bullish investors bought into Tuesday’s dip.

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No Inflation Worries

The overall stock market indexes opened in a downward frenzy yesterday. However, all three indices reversed direction intraday and finished the day in the green zone.

Investors decided to move forward and leave the risk of inflation and higher interest rates in the past after listening to Chairman Powell’s testimony on Tuesday. In his testimony before the House of Representatives Financial Services Committee, Powell stated that the central bank does not expect it to be uncontrollable despite inflation possibilities. It has the tools to fight the volatility if necessary.


Back to the Game

So, what happened?

Shares of GameStop (Ticker: GME) were up by more than 193%, mostly in the after-hours trading on Wednesday. That’s not a typo. The stock did rally to the moon once again.

The company just announced big changes in the senior leadership. Ryan Cohen, Chewy’s co-founder, and GameStop’s Chairman, plans to bring his team to lead GameStop into the eCommerce era. Such leadership changes have made investors more bullish and showed the world a bullish portrait of what the future looks like for GameStop.


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Downstock.com

So what happened?

Shares of Overstock.com (Ticker: OSTK) were down by more than 17% On Wednesday. Although the company had an excellent 2020, the stock price followed its downbeat quarterly earnings.

Even though the company had a highly profitable fourth quarter, it was not enough to meet investors’ expectations. The pandemic gains fueled the high expectations. Investors assumed the company would be able to continue to grow. As always, expectations drive stock prices in the stock market, at least in the short term. OSTK failed to meet such expectations as the world goes back to pre-COVID normal


Keep On Streaming

So what happened?

Disney has managed to capture the heart of kids and family. The company is now after the adults. Since last month, shares of The Walt Disney (Ticker: DIS) are up by 20%, reaching all-time highs.

The gains are due to the Star streaming service launch as part of the Disney streaming service. With more adult-orientated content, Disney plans to entertain adults and kids alike. So, keep on streaming …

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