Those Dance Moves
By Tue, Feb 4, 2020
Hey Scoopers,
After last week’s hysteria around coronavirus impact, the stock market started February with its typical upward movement — more on that in the “Overall Market” section.
Beyond the overall market, the stock market investors enjoyed one CEO’s on-stage dance moves from a few weeks ago so much that they can’t stop buying the shares. Moreover, it looks like investors lost their appetite for pizza after the Super Bowl and started selling their favorite pizza stocks — more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, and by the way, how do you like the new IPO Series? — 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 finished the first day of the week in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: For one more day, the above $9,000 mark was the new norm for Bitcoin’s price.
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Starting February on a high note.
JTNDaW1nJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZtZWRpYS5naXBoeS5jb20lMkZtZWRpYSUyRmw0RkdBUkViT1NSTEtNaU5xJTJGZ2lwaHkuZ2lmJTIyJTNFAll three indices took the weekend to reflect on the last week’s coronavirus hysteria and started February with high hopes. As usual, the Nasdaq took the lead with more than 1% gain. And, the other two indices followed suit.
Interestingly, all sectors, except the Energy sector, finished the first trading day of February in the green. The poor performance of the Energy sector was mostly due to unfavorable quarterly performance by energy stocks.
Those dance moves …
So, what happened?
Shares of Tesla (Ticker: TSLA) were up more than 19% on Monday. The stock is now trading at close to $800 per share. Do you remember when Tesla was supposed to go bankrupt? That was only 6 months ago. First, the fans cheered for Tesla, then long-term investors joined, China joined as a believer and helped Tesla build a factory faster than anyone has ever imagined, and finally, it looks like short-sellers are giving up.
While we are a fan of the stock and don’t plan on selling, the valuation seems to be only related to Elon Musk’s dance moves from a few weeks ago, and do not by any means reflecting the operational reality of the company. Despite that, some analysts are calling for even a higher stock price for Tesla. For now, all we can say about Tesla is wow, those dance moves by Elon are working. Keep on dancing my man.JTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3aWRnZXQuc3RvY2tjYXJkLmlvJTJGanMlMkZzYy13aWRnZXQuanMlMjIlMjB0eXBlJTNEJTIydGV4dCUyRmphdmFzY3JpcHQlMjIlM0UlM0MlMkZzY3JpcHQlM0UlM0NkaXYlMjBjbGFzcyUzRCUyMnNjLXdpZGdldC1jb250YWluZXIlMjBzY19sYXJnZSUyMiUyMGRhdGEtdGlja2VyJTNEJTIyVFNMQSUyMiUyMGRhdGEtdG9rZW4lM0QlMjJUTmNwcks3TjcxWGltUGpDSnFickQyNVhnV3YyJTIyJTNFJTNDJTJGZGl2JTNF
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Tired of pizza …
So, what happened?
Shares of Domino’s (Ticker: DPZ) were down approximately 42% on Monday. The price fall seems to be related to investors who are selling their shares in advance of the company’s earnings release report later in February. Investors are taking their gains off the table and maybe expecting a lower performance in the latest quarter.
How about the IPO Series?
So what happened?
Two weeks ago we started a new series at the Daily Scoop. Every Monday, we give you a summary of the good, the bad, and the ugly things you would need to know before investing in one of the upcoming IPOs.
The first one was a deep dive into the state of affairs at One Medical (Read More), and the second one came out this Monday and was a review of Casper Mattress IPO (Read More).
Tell us, Scoopers. How are we doing? Are you enjoying the IPO series?
Our email is members@tradestocks.com, and we’d love to hear about how do you like the IPO series and which other IPOs you’d like us to have a look at?Disclosure: Authors of this Scoop own shares of Tesla (Ticker: TSLA) and and Domino’s (Ticker: DPZ).
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
