No More Street Parking

By Hoda Mehr Tue, Oct 6, 2020

Hey Scoopers,

The market is in Yo-Yo territory as the news gyrated the market up and down without a clear direction. — More on that in the “Overall Market” section.

Beyond the overall market, analyst upgrades pushed the price of a financial technology company’s stock upward. At the same time, movie theatre stocks got dragged down once again as industry-wide shutdowns resumed. — More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, there is no more street parking left. — 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 started the week in the green. Scroll down to the “Overall Market” section to read more.
• Cryptocurrency: Bitcoin’s price is where it was yesterday, the day before yesterday, and several other consecutive dates before that.

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Yo-Yo Territory

The stock market recovered some of last week’s losses after hearing about President Trump’s return to White House. The indices ended the day in the green, even though the stimulus talks didn’t come to any conclusion. We are in yo-yo territory, and the daily news gyrates the market up and down until at least the election comes and goes.

Analyst Upgrade

So, what happened?

Shares of Square (Ticker: SQ) were up by more than 6% on Monday. The payment acquiring provider for small businesses has been growing rapidly as small and medium businesses focus on accepting payment cards instead of cash. The company also provides lending services to its customers while expanding its peer-to-peer and consumer financial services all within its ecosystem. The stock has been receiving upgrades from analysts, and such upgrades have boosted the stock price once again.

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Movie Theaters Shut Down

So, what happened?

Shares of Cinemark Holdings Inc (Ticker: CNK) were down by more than 17% on Monday. The company’s competitor, Cineworld (Ticker: CNNWF), announced that it is shutting down its Regal movie theatres until further notice. Cinemark has made it clear that it has no plans to shut down its theatres, but that wasn’t enough to convince investors.

No More Street Parking

So what happened?

Folks, what’s the street parking situation in your city? The Scoop Editorial team members live in the Bay Area, and a stroll around the town during this weekend made it clear that no more street parking is left.

Restaurants are taking over the parking spaces to serve us food. Aside from the fact that there is no more street parking left, it’s so bizarre to sit and eat literally in the street, while cars are zooming by. COVID-19 pandemic is killing street parking.

If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.

Disclosure: Authors of this Scoop own shares of Square (Ticker: SQ).

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