![](https://www.tradestocks.com/wp-content/uploads/2020/10/7vGTGm6oeVieBpVSY2DgsV-970-80.jpg)
PS5 Is 🔥
Hey Scoopers,
Earnings reports weren’t strong enough to recover the market from the spooky Monday. — More on that in the “Overall Market” section.
Beyond the overall market, acquisition and new shares offering news didn’t freak investors of one stock, while a 37% revenue growth forecast disappointed investors of another stock. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, the gaming market was already hot, and PS5 made it even hotter. — 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 indices didn’t agree on the direction on Tuesday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price kept surging and inching toward $14,000 per coin level.
Our research team has been hard at work getting ready for November 3rd (and beyond).
And tomorrow, October 29th at 8PM (EST) / 5PM (PST), we’re hosting a special election edition presentation to share our findings and prepare our readers for the post-election market.
Click here to register for this free special event now
Earnings Report Weren’t Enough
The market didn’t have much to celebrate, and for the most part, the three indices didn’t get a chance to recover from Monday’s spooky red arrows. Aside from the Nasdaq index, the other two indices finished the day in the red. The earnings reports published during the day weren’t strong enough to overcome the overall market’s worries.
Overshadow
So, what happened?
Shares of Exact Sciences Corp (Ticker: EXAS) were up by more than 23% on Tuesday. The company is “a molecular diagnostics company focused on the early detection and prevention of certain types of cancer.” It announced it is acquiring Thrive Earlier Detection Corp and told investors that it is raising $860+ million in a new round of share offering. However, investors didn’t sell the stock as they usually do when they hear similar acquisitions or stock offering news. What drove the market’s excitement was its stellar quarterly earnings report, which overshadowed the other two news. Good earnings reports typically have such power.
Get Jason Bond’s Monday Mover Stock Ideas
Jason Bond is identifying and trading stocks that are moving up 33%, 47%, 69%, and 101% over the weekend. Catalyst events are occurring each and every Friday…Don’t miss stocks poised to gap up this weekend.
Don’t Miss This Friday’s Monday Mover Trades!
(By clicking you agree to receive email updates and special offers from Raging Bull)
37% Is Not Enough Growth
So, what happened?
Shares of Twilio (Ticker: TWLO) were down by more than 5% on Tuesday. The company announced its latest quarterly earnings report. As is customary at Twilio, the company demonstrated a monster quarter with 52% Y-O-Y revenue growth. What drove the stock price down was the expected 36%-37% revenue growth forecast for the fourth quarter. Such a growth rate is a dream at many other companies, but when you get investors used to a 50%+ growth rate, anything less than that appears to be dismal and not enough.
Gaming Industry Is Hot!
So what happened?
The pandemic has heated the video game industry more than what we have ever seen before. Just yesterday, Microsoft (Ticker: MSFT) talked about better than expected gaming revenue in its latest quarterly earnings. And, then, the news broke that the new PlayStation5 by Sony (Ticker: SNE) was already sold-out in the early hours since it became available as a pre-order. But, listen to this:Fne
There were more pre-orders in the first 12 hours than there ever was in the first 12 weeks of PlayStation4 release, just one generation before. The gaming industry is always hot with excitement, and the pandemic has made it even hotter.
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.