Streaming Wins Hollywood
By Tue, Mar 16, 2021
Hey Scoopers,
Stock market indices started the week on high notes. — More on that in the “Overall Market” section.
Beyond the overall market, analysts changed their minds about an industrial stock. Meanwhile, a video game retailer witnessed a plunge. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, streaming services are on a winning streak in Hollywood. — 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 the three indices ended in the green zone on Monday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s price plunged back to $56K per coin.
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The Indices’ Comeback
The stock market ended in the green zone on Monday. Despite a downward trend mid-day, the indices climbed back to the gain area. Although the 10-Year Treasury bond yield did not retread under 1.6%, the Nasdaq index surged 1.05%. The Dow Jones and the S&P 500 indices kept the momentum to close in the green zone for the fourth time in a row.
Changing Their Minds
So, what happened?
Shares of General Electric (Ticker: GE) were up by more than 6% on Monday. After analyst Andrew Obin recommended buying GE, the stock price spiked above $13. The analyst believes GE has a strong balance sheet and forecasted a $15 price per share. Other analysts reinforced Obin’s forecast in a somewhat unanimous change of minds.
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Is the Hype Over?
So what happened?
Shares of GameStop (Ticker: GME)were down by more than 16%. Despite the plunge on Monday, analysts expect a 14.96% year-over-year and 2.19% revenue growth report next week. Following the expected growth, GameStop announced an e-commerce shift committee. The committee is in charge of turning GameStop into a technology business. We don’t know if the hype is over, but GME is taking steps to turn the ship around.
Streaming Services Surprised
So what happened?
Netflix (Ticker: NFLX) scored 35 Academy Award nominations for 16 films on Monday. Along with Netflix, other streaming services also have contenders for 2021’s Oscars.
Although Hollywood traditionally wins most of the nominations, streaming services’ movies dominated the Oscar nominations in 2021. Not only have streaming services won the consumers’ hearts and wallets, but they are also now winning Hollywood.
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
