New Battleground
By Fri, Apr 9, 2021
Hey Scoopers,
After volatility in the previous section, the stock market set more records on Thursday. — More on that in the “Overall Market” section.
Beyond the overall market, an agreement between a pizza restaurant and an EV charger provider turned investors bullish toward the company’s expansion. Meanwhile, a cloud file company’s investors received good news, but not the news they expected. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, do you think streaming services are ready for this new battleground? — 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 Thursday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s climbed back up to $58K per coin.
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More Records
The stock market ended in the green zone on Thursday. The S&P 500 index set its third record high in the week.
As investors wait for the earnings season to kick off next week, analysts started to revise their estimates for more accurate expectations. After the revisions, analysts expect companies to follow the economic recovery’s pace as the vaccine rollout occurs more rapidly than expected. Meanwhile, Fed President Powell signaled that the central bank is fully committed to the economic recovery. Consecutively, the 10-Year Treasury bond yield declined to 1.62%, and the Nasdaq index jumped more than 1%.
Expansion Deals
So, what happened?
Shares of Blink Charging (Ticker: BLNK) were up by almost 13% on Thursday. Blink is a provider of EV charging services. Not long ago, the company ratified multiple contracts to extend its operations in Europe and the Middle East. Now, the company announced it inked its most important contract to establish its North American expansion. Blink would deploy 42 charging ports across Four Brothers pizza restaurants in New York State. The state gives retailers $4,000 rebates per charging port installation, meaning that Blink will incur no upfront costs to set up the infrastructure. It seems like a win-win for all parties involved.
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Not the Expected
So what happened?
Shares of Box (Ticker: BOX) were down by more than 9% on Thursday. The plunge on the cloud file company’s stock came after it publicly announced a strategic partnership and investment from KKR (Ticker: KKR). Although KKR agreed to inject $500 million in Box, investors expected possible acquisition news. After years of disappointment with Box’s performance, recent reports suggested major stakeholders pressuring the company to sell itself. Despite the investment news not being terrible, investors started selling their shares.
New Battleground
So what happened?
Spotify (Ticker: SPOT) leaked more Car Thing’s images.
Not long ago, Spotify submitted files to the FCC for what seemed to be its car assistant device. Although the music streaming company did not disclose the gadget’s details, users found in-app renders in Spotify’s app code. As smart cars become more common, companies are shifting their battleground to the car business. Along with the Car Thing, the streaming service also started rolling out a hands-free voice assistant on its iOS and Android platform. The voice assistant rollout reinforces that the company is ready to launch its Car Thing soon. As predicted, tech specialists believe that the voice assistant will serve as Spotify’s opportunity to optimize its speech recognition. Although the Car Thing’s render images show physical buttons, the company wants to deploy systems that users can utilize while driving. Despite the company not publicly commenting on its next steps, it seems that Spotify is close to launching its Car Thing.
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
