Second Hand Market
By Tue, Apr 27, 2021
Hey Scoopers,
As the week starts, investors turn their attention to incoming earnings reports and economic data. — More on that in the “Overall Market” section.
Beyond the overall market, a company’s acquisition rewarded loyal investors with a large cash payment. Meanwhile, a clothes company’s investors started to raise concerns after insiders sold off their shares. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, do you think the emerging second-hand markets could pave the path to a greener future? — 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 ended mixed on Monday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s price climbed back to the $53K per coin mark.
How to Find the Best Trades
When a stock skyrockets, we are all eager to see if it will continue to push higher or reverse course.
And there is one way to know what’s coming next, but it isn’t what you think. The pros have been using it for decades to pick their winning stocks. It’s the only guaranteed way to get answers and doesn’t involve any research.
Save your online seat at our free demonstration
(By clicking you agree to receive email updates and special offers from Vantage Point)
Busy Week Ahead
The stock market ended primarily in the green on Monday.
After the first session of the week, investors now expect a busy week full of corporate earnings results. As the vaccination has enabled many industries to fast-pace the recovery, the markets are bullish toward multiple companies exceeding first-quarter estimates. Furthermore, investors have eyes on more information about Biden’s tax rate increase proposal. The markets’ concern is that the new tax rate could abrupt the economy’s recovery.
Takeover Offer
So, what happened?
Shares of Proofpoint (Ticker: PFPT) were up by more than 31% on Monday. The soaring price came after private equity firm Thoma Bravo announced the acquisition of Proofpoint. According to Thoma Bravo, it will pay $12.3 billion for the cybersecurity and compliance company. Furthermore, Proofpoint’s investors would receive $176 in cash for each owned share. For Proofpoint CEO Gary Steele, the deal is proof that Proofpoint’s people-centric approach plays an essential role in security threats nowadays.
3 Monster Stocks That Could Reach New Highs in 2021
Stock market investing isn’t nearly as difficult as many professionals would have you believe…The truth is that by applying a reliable and consistent strategy anyone can build a portfolio that’s tailored to their particular retirement goals. To make things easier we have assembled a brand new report on how to find the best stocks and industries to invest in, along with our 3 top stocks for 2021.
Download the Stock Report Here (Free)
(By clicking you agree to receive email updates and special offers from FxTrade Group)
Changing Clothes
So what happened?
Shares of American Eagle (Ticker: AEO) were down by more than 6% on Monday. After three insiders sold more than 60,000 shares, the teen clothing company’s investors raised concerns that bad news could be coming for the company. Although there are multiple reasons why insiders may sell stocks, investors pointed at the company’s CEO, Charles Kessler, liquidated 42% of its shares. It seems that American Eagle’s investors are hoping for the best but preparing for the worst.
Second Hand Market
So what happened?
Nike (Ticker: NKE) launched a second-hand shoe business.
After the recent second-hand items’ marketplace boom, Nike introduced its clients to the Nike Refurbished service. Nike directs the service to clients that don’t mind buying a second-hand item while also paying a reduced price. According to Nike, clients will also have the chance to sell back their shoes to the company. Once Nike inspects the customer’s shoes and decides it is eligible for the service, it will sanitize and polish the shoes. After the cleaning process, Nike will resell the pair of shoes at a lower price. The company stated the service was a part of Nike’s circular future, in which the company minimizes product waste. Also, Nike pointed to an urgency for climate changes that require innovations in the sportswear market. The Nike Refurbished service will be present in 15 different U.S. Nike stores as of the launch date. However, the company plans to expand the service coverage to more U.S.-based retail stores until 2021 fourth-quarter. The company expects the service to play an essential role in its 2025 sustainability targets of reducing greenhouse gas emissions by 70%.
It seems that the shoe market is also looking forward to the green transition.
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
