Torrid’s Succesful IPO

By Felipe Nebesnyj Thu, Jul 8, 2021

Hey Scoopers,

After positive news from the Fed, the markets erased earlier losses and reached new records. — More on that in the “Overall Market” section.

Beyond the overall market, a beverage company received good news as an investment bank upgraded its stock to an outperforming status. Meanwhile, a hydrogen fuel cell company is witnessing the effects of early competition. — More on that in the “What’s Up?” and “What’s Down?” sections.

By the way, Torrid is proving to be a successful IPO. — More on that in the “Water Cooler” section.

But, first, here is a recap of what happened in the market yesterday:

• U.S. markets: The stock market ended in the green zone on Wednesday. Scroll down to the “Overall Market” section to read more.
• Cryptocurrency: Bitcoin‘s price increased to $33K per coin.

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In the Green

The stock market ended in the green zone on Wednesday.

Although the markets started the session in a negative mood, they climbed back up after the Federal Open Market Committee’s June meeting signaled a split on the timing for rolling back crisis-era monetary policies. The S&P 500 index and the Nasdaq index reached record intraday and closing highs as investors turned to growth and technology stocks.

New Rating

So, what happened?

Shares of Boston Beer (Ticker: SAM) were up by more than 3% on Wednesday. The rise came after Credit Suisse (Ticker: CS) upgraded the stock to outperform from neutral. In Credit Suisse’s perspective, the U.S. high-end malt beverages leader’s Truly hard seltzer could boost the company’s performance. Furthermore, the bank increased its price target to $1,490 per share. The 61% higher target price gave a confidence boost to the investors.

America’s Top Stock Cop Warns: “Do This BEFORE You Get the Vaccine.”

He predicted the coronavirus crash a month early…

He called the bottom of the crash too, on March 16.

Now, America’s top “stock cop” has an urgent warning for all Americans:

“Do this BEFORE you get the vaccine.”

More Competition

So what happened?

Shares of Plug Power (Ticker: PLUG) were down by more than 8% on Wednesday. The plunge came after the hydrogen-powered truck maker Hyzon and the industrial gas company Chart Industries (Ticker: GTLS) announced a joint venture. Both companies plan to develop long-haul heavy trucks powered by liquid hydrogen. For Plug’s Investors, the news means the company may have to face intense competition while it tries to expand its hydrogen transportation business

Torrid’s Succesful IPO

So what happened?

Torrid is the largest direct-to-consumer brand of plus-size clothing focused on women. Although ignored for a long time, the U.S. market serves more than ninety million women wearing sizes ten and up. According to the company, its business model brought customers’ loyalty to its brand. 78% of the plus-size women stated they would spend more on clothes if they had more options available for their sizes. In 2020, Torrid achieved an 82% customer retention rate. The results had pushed the company’s stock performance up by 15% since its NYSE debut last week.

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

Felipe Nebesnyj is an Economics student who is passionate about the stock market and investing in the market. Originally from Brazil, he is working and studying in the U.S. and started learning about and researching the stock market at 16. Before joining Stock Card, Felipe worked on multiple stock market research projects that gave him the necessary knowledge and confidence to put into his stock market analyst career at Stock Card. Last but not least, he is an excellent violinist and enjoys video games.