Walmart Wants To Be Cool
By Fri, Oct 2, 2020
Hey Scoopers,
There was hope for a stimulus cheque, but it didn’t happen. Nevertheless, the market ended Thursday in the green. — More on that in the “Overall Market” section.
Beyond the overall market, one tech company started to share positive guidance, while a gaming company soared in the overvalued range too far. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, Walmart wants to be cool. — 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 agreed on the direction and ended Thursday in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price continued to hover in the same range, and even slightly lower than where it started the week.
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No Deal Yet
All three indices had a good day, with Nasdaq leading the pack by more than 1% daily gain. There was some hope that the Congress would get the second stimulus cheques approved. However, the deal wasn’t reached, and stocks’ futures remained flat in the after-hours trading session.
Good Guidance Is Back
So, what happened?
Shares of Twilio (Ticker: TWLO) were up by more than 14% on Thursday in the after-hours session. The company had an investor day presentation and provided a positive outlook and guidance for the year. Investors were particularly happy because most companies stay away from providing guidance these days. Good guidance by Twilio gave them the confidence that the company is on the right track.
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Soaring In Overvalued Range
So, what happened?
Shares of GRAVITY Co (Ticker: GRVY) were down by more than 11% on Thursday. The company is an online and mobile game developer and publisher based in Korea. Like most gaming companies, the company has benefited from the extra time people have had on their hands while working from home. Moreover, in mid-September, the company announced the launch of new games in Taiwan and Hong Kong, which gave the stock a boost. It’s difficult to get the news about foreign companies fast enough, but we guess that investors are locking their gains since that stock price has been soaring in the overvalued range for a while.
Walmart Wants to Be Cool
So what happened?
Walmart (Ticker: WMT) tries so hard to be cool. Over the last decade, the company lost its retail kingdom to Amazon (Ticker: AMZN). Now the company is doing everything it can to regain its status. From investing in eCommerce to hanging out with the cool kids of the stock market, Walmart is doing it all. For example, Walmart and Shopify (Ticker: SHOP) partnered up to create a shopping marketplace. Now, Walmart put a massive 130 order for Tesla’s (Ticker: TSLA) EV semi-trucks. Can Walmart turn cool by doing these things? Or, more importantly, can it grow as fast as Amazon?!
Let us know if you have any feedback, question, or suggestions by emailing us at members@tradestocks.com.
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
