No Fridge Needed
By Wed, Mar 17, 2021
Hey Scoopers,
The stock market investors faced losses as investors turned their attention to the Fed’s meeting on Wednesday. — More on that in the “Overall Market” section.
Beyond the overall market, a biotech’s COVID-19 vaccine progress turned investors bullish once again. Meanwhile, an airline stock is still suffering from travel restrictions. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, do you keep track of all the data collected from you? — 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 indices ended mixed on Tuesday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s price remained at around $56K per coin.
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The Markets Turned to the Fed
The stock market ended mixed on Tuesday. After four winning sessions, the Dow Jones index closed in the red zone. The S&P 500 index had a shaky session but closed near-zero daily changes too. The volatility started as investors turned their attention to the Fed’s projections for the economy over the 10-Year Treasury bond yield spikes. Although the Nasdaq index rallied in the opening, it lost momentum and ended the day with a modest gain.
No Fridge Needed
So, what happened?
Shares of Moderna (Ticker: MRNA) were up by more than 8%. Moderna is developing a COVID-19 vaccine focused on poor-infrastructure markets. After the vaccine’s first trial started, investors’ sentiment turned bullish towards the biotech’s research progress. Because the new vaccine doesn’t require high-end refrigeration, Moderna believes it will expand the company’s addressable market.
Not needing refrigeration turned investors quite bullish.
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Flying Low
So what happened?
Shares of JetBlue (Ticker: JBLU) were down by more than 4%. After a 44% increase in value since February, analysts raised JetBlue’s stock price target to $24 from $15. However, JetBlue announced that the company expects a 41% plunge in its year-over-year first-quarter capacity. It was enough to drive JetBlue’s stock price down.
Google’s New Contender
So what happened?
Ex-Google employees received $40 million in Series B funding this week.
DuckDuckGo, a search engine created by former Google employees, recently took over the news. After receiving $40 million in fundings, the platform publicly accused Google of spying on its users’ privacy. Although Google’s report disclosed all the data collected from users, DuckDuckGo claimed that Google “wanted to hide information” as the company took several weeks to reveal all the data it collects from its users. The report is part of the new iOS App Store privacy policy. DuckDuckGo uses its non-data collection policy as its trump card to shift users from other search engines to its platform.
Are you concerned about your data privacy, and does it impact your investment decision in companies such as Alphabet (Ticker: GOOG / GOOGL) Google’s parent company?
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
