Main Event of the Night
After a week of records and better-than-expected earnings reports, the stock market retreated from record highs. — More on that in the “Overall Market” section.
Beyond the overall market, an EV maker’s investors stayed bullish after analysts claiming the earnings report was not good. Meanwhile, a social media company’s stock plunged after weaker-than-expected guidance. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, what do you think about investing in martial arts? — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: The stock market ended in the red zone on Friday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s price climbed back to $56K per coin.
How to Find the Best Trades
When a stock skyrockets, we are all eager to see if it will continue to push higher or reverse course.
And there is one way to know what’s coming next, but it isn’t what you think. The pros have been using it for decades to pick their winning stocks. It’s the only guaranteed way to get answers and doesn’t involve any research.
Save your online seat at our free demonstration
(By clicking you agree to receive email updates and special offers from Vantage Point)
The stock market closed in the red zone on Friday.
After reaching record highs in the previous session, the S&P 500 index retreaded and logged negative results. As the week and the month come to an end, the stock market pauses from the effect of strong earnings results. Along with the reports, stronger-than-expected economic data helped boost the market’s performance. Despite Friday’s negative returns, all the three indices ended April with positive returns.
So, what happened?
Shares of Tesla (Ticker: TSLA) were up by more than 4% on Friday. Although the EV maker’s stock has plunged after Tesla revealed its earnings report, investors found better reasons to turn bullish toward the company. Investors believe that Tesla could achieve 1 million car sales in 2021. Investors also believe Tesla would deliver 50% more vehicles than it did in 2020. Moreover, the bullish investors gave credit to Tesla for its $293 million free cash flow. In the end, while analysts didn’t like Tesla’s earnings report, the company’s investors are enjoying it.
Buy These 3 Cryptos to Beat Bitcoin
The cryptocurrency market is exploding in value right now… Bitcoin broke through $30,000… And dozens of cryptos have gone up more than 1,000%… If you’re ready to start capitalizing on this massive boom, legendary crypto investor Matt McCall just released a new free report, “3 Cryptos to Beat Bitcoin.”
You can claim your free report by clicking here.
(By clicking you agree to receive email updates and special offers from Investor Place Media)
So what happened?
Shares of Twitter (Ticker: TWTR) were down by more than 14% on Friday. The social media company witnessed a sell-off after it released its first-quarter results. Although Twitter’s results were strong, it posted worse-than-expected ad revenue growth. Based on Twitter’s social media business peers, analysts expected the company to post numbers close to its competitors. Along with the disappointing revenue, the company also delivered weaker-than-expected guidance for the next quarter.
Main Event of the Night
So what happened?
Although the general public may not know Endeavor by name, people would certainly know one of its subsidiary companies. Endeavor is a holding company that has UFC under its umbrella. The holding company acquired UFC for more than $4 billion in 2016, guaranteeing significant control over multi-martial arts event promotions. Although analysts warned the markets that the company could be a potential risk, investors thought otherwise. During its first trading day, the holding company’s stock price raised more than $511 million, leading Endeavor to a $10 billion valuation. Its CEO Ari Emanuel stated that the company considered the IPO a huge success, pointing out that it is an overcoming for Endeavor after its first attempt to go public failed in 2019. Moreover, investors’ sentiment turned bullish toward Endeavor after the company managed to stay operational amid the pandemic. Because most of Endeavor’s investments depend on crowded events, its investors raised concerns about whether the company would remain profitable or not.
It seems that UFC spectators now can invest in their favorite sport.
If you have any questions, or suggestions let us know by emailing us at [email protected]. We look forward to hearing from you.