One More Subscription
By Wed, Sep 16, 2020
Hey Scoopers,
Buying the dip continued in the stock market for the second day in a row. — More on that in the “Overall Market” section.
Beyond the overall market, the cashless revolution sent one stock up while another company’s resilience didn’t impress investors. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, Apple added one more subscription to the never-ending list of subscriptions. — 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 ended Tuesday in the green, just like Monday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price hovered about the $10,500 mark on Tuesday.
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Buying The Dip Continued
The slow crawl out of last week’s dip continued. The Fed’s authorities have made it clear that congress’s lack of follow-on fiscal stimulus and unemployment support puts the economic recovery in jeopardy. Nevertheless, the market continued to buy last week’s dip.
Cashless Revolution
So, what happened?
Shares of Square (Ticker: SQ) were up more than 7% on Tuesday. The excitement came after the company confirmed the OCVID-19 pandemic had accelerated the transition to cashless transactions. Despite all the negative impacts of the COVID-19 pandemic, some aspects of our lives have been revolutionized.
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Resilience Didn’t Impress
So, what happened?
Shares of Lennar Corp (Ticker: LEN) were down more than 3% on Tuesday. The company announced its quarterly earnings report on Monday and didn’t manage to impress investors, despite showing resilience in light of the COVID-19 pandemic. Revenue was up, and profitability expanded due to the company’s cost-control measures.
One More Subscription
So what happened?
Apple’s (Ticker: AAPL) wanting you to be fit and pay for it. The company announced its fitness subscription on Tuesday to support people’s new appreciation for fitness classes, running, and biking during the pandemic.
Add one more subscription to your arsenal of monthly subscriptions.
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Disclosure: Authors of this Scoop own shares of Apple (Ticker: AAPL) and 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
