Oh, Not Pepperoni Pizza
By Mon, Aug 17, 2020
Hey Scoopers,
Last week was all about the Dow. — More on that in the “Overall Market” section.
Beyond the overall market, a retailer’s stock price jumped without an apparent reason, while a Chinese stock price dropped because it was too soon for investors to forget about Luckin Coffee’s fraud. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, Pepperoni pizza is the new COVID-19 pandemic victim. — 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: Stock market indices barely moved on Friday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: By Sunday evening, Bitcoin’s price was so close to the $12,000 mark but didn’t make it again.
Up to 100,000 companies now using “6G”?
Jeff Brown has made some incredible revelations before…
The angel investor predicted the top tech stock on the S&P 500 in three of the last four years…
He unveiled the key piece inside Apple’s new iPhone – on stage in New Haven, CT – months before the phone has even hit the market.
In this video, I’m going to give you the name of this company for free – including the stock symbol.
It Was Dow’s Week
Friday turned to be a calm day for all three indices, and the week ended to be a rare 5-day trading period with the Dow taking the lead, and the Nasdaq falling behind.
There Was No Reason For A Price Jump
So, what happened?
Shares of Party City (Ticker: PRTY) were up more than 28% on Friday. There weren’t any significant fundamental changes in the company’s status in recent days. That’s why some analysts attribute the price jump to the trading volume in the options market. There is not much to say about this huge price jump as of now. We will be watching the market to report any new developments that may be brewing.
German Genius Breaks Years of Silence
Dr. Gregor Bauer is an expert technical analyst who advises the German government. But he’s never felt the need to speak outside of his homeland before — until the coronavirus hit. The virus created a financial crisis, but it also created unprecedented opportunity. And in this exclusive presentation in partnership with Rob Booker, Bauer presents how you can capitalize on these opportunities with 100% profit targets on every trade.
Click here to catch the imminent briefing
Too Soon To Forget
So, what happened?
Shares of iQIYI (Ticker: IQ) were down by more than 11% on Friday. The company released its quarterly earnings on August 13th. In addition to a modest 4% revenue and subscriber growth, the company also disclosed an SEC investigation into its financial performance dated back to January 2018 and shared an SEC’s request for certain acquisition-related information. While there is no reason to panic just yet, the memory of the recent fraud incident by now delisted Luckin Coffee is too vivid in investors’ minds. It’s not surprising to see investors opted to sell the stock with a heavy trading volume. However, SEC investigations are a part of a functioning stock market and not always warrant a concern. It seems it is too soon for investors to forget about Luckin Coffee, and those concerns are the reasons for IQ’s price drop.
Oh Not Pepperoni Pizza
So what happened?
COVID-19 has meaningfully impacted our lives. Several businesses and industries have fallen victim to social distancing. Airlines, tourism, entertainment, and physical retail are among the hardest-hit sectors of the economy. We just came across another victim of the COVID-19 pandemic that made us scream: WHYYYY?
Apparently, there is a shortage of pepperoni pizza due to the COVID-19 pandemic’s impact on the meat supply chain. The pepperoni shortage has led to a more than double jump in pepperoni price, said a Pizza shop in South Dakota, according to MSN Money.
Hey COVID-19, we are done with you! Don’t mess with our pizza!
Our email address is members@tradestocks.com. Let us know if you have any feedback, questions, or ideas to share.
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
