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Key Points
Overall Market
Investors Wait for Consumer Price Index While The Market Goes Red
All three market indices ended in the red today.
Much like the past couple of weeks, investors remain unsure of what the future holds. This week it seems investors are waiting for the Consumer Price Index to shed some light on inflationary fears. Let's see how it changes the market's sentiment when it comes out tomorrow, June 10th. Stock TO Buy Now
The Telemedicine and Telehealth Industry Is Here to Stay, Even After the Pandemic
Folks, as you know, on Stock Card's Stock Pick page, we host the portfolio of several successful investors. These investors are your favorite YouTubers, stock-picking newsletters, and content creators. One of the most followed investors on Stock Card, is Joseph Hogue, from the Let's Talk Money channel.
Joseph publishes a new video every Monday and uses Stock Card to do his research. This Monday's video is quite interesting. He used the Telemedicine list of stocks on Stock Card to pick three stocks you have never heard of but should buy now. Joseph argues that telehealth services benefited heavily from removing red tape and accelerated their adoption thanks to the pandemic. Visit Joseph's Bow Tie Nation portfolio on the Stock Picks page, here's the full video: What's Down
Telehealth Services Clover (CLOV), and iRobot (IRBT) Take A Hit
Let's keep the telemedicine and telehealth stock theme today. As we discussed, although the pandemic caused plenty of serious challenges throughout the healthcare industry, the silver lining is the advancements we saw born out of necessity. Just like Joseph Hogue, I used the Stock Card's telehealth stock list for today's stock review. Three companies grabbed my attention:
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Key POints
Overall Market
A Mixed News Day Resulted in a Mixed Market
After a volatile day, the market closed with a mix of green and red.
A few economic news and indicators pulled the market in opposite directions today, like a yo-yo. For one, the Treasury Department released its U.S. Trade Deficit Data. March’s $75 billion goods and services deficit was the highest level we have seen since 1992. April narrowed the gap by about $6 billion, causing the 10-year Treasury yield to fall slightly. President Joe Biden has been going through the back-and-forth legislation discussions surrounding a new infrastructure bill. A White House study found critical supply chains to be very dependent on imports, and Democrats are preparing the bill tomorrow for a vote in the House. They hope to aid domestic manufacturing and production. What's Up
Retail Traders’ Newest Meme Stock: Wendy’s (WEN)
As I went through the winners and losers list of stock on Stock Card, I noticed Reddit and retail investors have crowned their most recent meme stock, and it’s none other than your favorite fast food restaurant: Wendy’s (WEN).
The birthplace of the Baconator saw a 25.85% rise in its stock price by market close. This comes unexpectedly at the hands of the infamous Wallstreetbets sub-forum. Investors piled on today, claiming that a small retail share float and a meme-savvy marketing team is the perfect firestarter. Despite such technical reasoning and hype, the company's operations and fair share price calculations don't support this new price. For example, during the COVID-19 shutdowns, Wendy’s did not hold up as well compared to its competitors. Looking at the company's revenue in the last fiscal year, it seems it only grew by 1.45%. Moreover, based on the common valuation ratios such as price-to-earnings or price-to-sales ratio, the stock is overvalued. The stock may be a good addition to a dividend-paying portfolio, but even that is questionable because of its high debt-to-equity ratio. Overall, aside from betting on the meme-driven upside potential, the stock doesn't seem to be a solid pick at this point. What's Down
MarketAxess (MKTX): Buy The Dip?
As we exit the pandemic chapter, we see many pandemic-era stock prices are adjusting and consolidating. For example, from my 2021 Watchlist, look at MarketAxess (MKTX). The stock is down to $440 per share from its 52-week high of $660 per share.
MarketAxess (MKTX) deals with trading fixed-income securities. Credit volatility plays a big part in its business model. Therefore, whenever it announces a decline in trading volume, investors' sentiment turns bearish. Lower volume affects its fees, commissions, and ultimately revenue. Despite such short-term volatility impact let's not forget that securities and bonds are integral parts of the financial world, and MKTX is a leader in the field. Judging by its Stock Card, the company has solid operations, a track record of beating the market, it's profitable, and generates free cash flow. With the recent price fall, it’s worth considering picking up some shares. This is a great opportunity to get exposure to the bond market without directly investing in them. Want to receive this daily stock market recap report in your mailbox?
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Key POints
Overall Market
Mixed News Held Back The Markets from Rallying on Monday
The stock market ended today in a mix of red and green.
The DOW and the S&P finished in the red. Outperforming the other two by a notable distance, the NASDAQ landed a solid +.49% by the end of the trading day. Investors have a mixed sentiment. On one hand, the Employment Report on Friday confirmed a slow and steady recovery. On the other hand, the Treasury Secretary Janet Yellen commented about interest rates. Yellen stated higher interest rates would benefit society from the Fed’s point of view while pointing that the Fed would not review its monetary policy anytime soon. The NASDAQ's good day was likely the fault of biotech stocks that held the index up, as the rest of the market wavered just underneath the green. New Feature
Publish Your Portfolio and Share with Fellow Stock Cardians
If you are one of those investors that like to share your research and let your friends or even social media followers know about your ideas, you can now make that happen.
Go to Your Portfolio page, and choose the portfolio that you would like to publish from the drop-down menu. You can add some information about your strategy, portfolio description and goals. Click Publish and follow the instructions with a few more questions, and submit. Once approved, your portfolio would show up on the Stock Pick page and your friends can follow you. Also, if you are a YouTuber and want to collaborate with Stock Card, you can visit the “Partner With Us” page and learn more about the ways we can collaborate. What's Up
FDA Approval of New Alzheimer’s Drug Sends Biogen Stock Soaring
As usual, I visited the Winners and Losers page on Stock Card, and shares of Biogen (BIIB) grabbed my attention. The stock is up more than 37% thanks to the long-awaited FDA approval of its Alzheimer drug.
Until today, you couldn’t find an FDA-approved treatment for the cognitive decline of Alzheimer’s anywhere on the market. Today, Biogen (BIIB) claimed the first treatment for the degenerative disease in almost 2 decades. Not only is this going to bring in billions of dollars of revenue, but the company will hold all the cards (or technically, the only new one) of modernized Alzheimer’s therapy. This stock has seen a rollercoaster of ups and downs over the course of the development and approvals process. It announced the drug in 2016, but had to scrap the drug 3 years later. Surprisingly, the company revamped its research only months later. Even after the debacle, the drug continued to stay caught up in reviews by the FDA and outside panels of experts. Some may say it’s a miracle that Aducanumab, the new Alzheimer drug, even made it to market. That's why investors were quite surprised. Nevertheless, FDA and Biogen staff alike stand by their results. Visit Biogen’s Stock Card, you’ll find that the company boasts High Growth Potential, Strong Operations, and Undervalued Stock. With the new drug, the company has set itself up for a successful future. What's Down
UiPath’s Upcoming Earnings Report Gives Investors Cold Feet
Earlier this year on April 21st, UiPath (PATH) went public and quickly rallied. It's a part of Stock Card's 2021 IPO list, just search “2021 IPOs” in the search bar. It seems the company is reporting its first quarterly earnings report as a public company tomorrow.
UiPath runs on a business-to-business model. Its platform is utilized by all kinds of companies to eliminate tedious tasks that humans used to be tied to, through artificial intelligence and machine learning. The stock price was down more than 2% ahead of its earnings report. This may come as unexpected because today the company was named Process Mining Leader in the Technology Vendor Landscape by Everest Group’s PEAK Matrix for the second year in a row. No bad PR has hit them recently, but investors may have cold feet from the looming earnings report due tomorrow. Or, they may be locking their post-IPO gains before they hear any possible bad news from the earnings reports. I haven't dug into the stock quite deeply and it is on my watchlist to learn more about it. Want to receive this daily stock market recap report in your mailbox?
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Key POints
Overall Market
The Market Embraced a Moderately Positive Employment Report and Finished the Week in the Green.
The stock market indices finished Friday nicely in the green.
The Nasdaq index was up almost 1.5%. The S&P and the Dow didn't finish too far off either. According to the Bureau of Labor Statistics, "total nonfarm payroll employment rose by 559,000 in May, and the unemployment rate declined by 0.3 percentage point to 5.8 percent." The number of new jobs added to the economy was lower than expected. However, the overall results were encouraging enough to send the market into the green zone. A New Portfolio
Look for Think Tank Trading on the Stock Picks page and follow Dale if you are interested in his strategy. His portfolio is already in the green, beating the S&P 500 index.
What's Up?
Despite the Reopening, DocuSign Stock Jumped 19%+ After an Impressive Quarterly Earnings Report.
DocuSign (DOCU) was among today's top gainers on the list of winners and losers at Stock Card, up by more than 19.76%.
The company released its latest quarterly earnings reports yesterday. Subscription revenue was up more than 61%, which came as a surprise to investors. Before the earnings, Wall Street worried that the company could not keep up its growth as the economy reopened. But the earnings report managed to calm investors. What's Down?
Canopy Growth Stock Dropped 4%+ After It Terminated Its Joint Venture with Celebrity Drake.
Today's let's talk about Cannabis stocks. On Stock Card, you can type in cannabis in the search bar and get the list of companies in the cannabis industry. The reason I'm talking about them today is the news that Canopy Growth (CGC) ended its joint venture with Drake and his More Life hemp brand.
Cannabis stocks tend to invest in their brand quite heavily to differentiate themselves from competitions. That is why partnerships with celebrities are a key part of their marketing and growth strategy. It's interesting to see that Canopy Growth terminated the partnership. Investors didn't appreciate it, and the stock was down more than 4% today. I own CGC in my portfolio, and I tend to hold it since it is still one of the largest and best-funded cannabis companies. Want to receive this daily stock market recap report in your mailbox?
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Key Points
Overall Market
Despite a Stronger-than-expected New Jobless Claims Report, The Stock Market Indices Finished Thursday in The Red
All three indices finished Thursday in the red, despite the better-than-expected new jobless claims report. Less than 400,000 people filed for unemployment claims this week, which is the lowest number since the start of the pandemic. Investors are now waiting for May's Employment Report to come out tomorrow to confirm that the economy is indeed on track.
WHat's Up?
Workhorse Group (WKHS) is Coming Up with Alternatives to The USPS Contract, Slowly and Quietly
Shares of Workhorse Group (WKHS) were up more than 19%. Although the recent price jump is mainly due to the short squeeze rally, there might still be a path for Workhorse to survive.
I spoke with one of our analysts, Felipe, who is conducting extensive research on Workhorse, and he provided some interesting insights. It seems the company is coming up with alternatives to its highly-anticipated but denied USPS contract. For example, Workhorse has entered new partnerships with UPS (UPS) to supply delivery drones. Moreover, the electric vehicle maker closed two important deals recently, including a purchase order for 6,320 units of its C-Series vehicles that will generate more than $300 million for the company until 2026. Although the USPS contract denial was a significant issue for the company, Workhorse built a solid alternative for its survival. As soon as Felipe is over with his research, we plan to give you a comprehensive Workhorse stock analysis. Stay tuned! What's Down
Shares of PagerDuty (PD) Dropped More Than 10% Despite a Solid Quarterly Performance
Aside from most short squeeze stocks that ended Thursday much lower than where they landed yesterday, PagerDuty (PD) shares grabbed my attention. The stock was down more than 10%.
It is a surprising drop because the company's earnings report was quite solid. Revenue was up more than 28% and customers with annual revenue above $1 million were up 55%. Those are key numbers when you sell enterprise software and show more clients are trusting the service enough to spend at least a million on the company's products and services. It seems investors are spooked about the wider losses. When I dug into the reasons, the wider loss is primarily due to higher marketing costs due to a TV advertisement campaign and change in the timing of the company's annual summit. If you look at the company's Stock Card, its revenue is expected to grow rapidly, and it generates free cash flow, despite an unprofitable operation. I own a few shares, and I believe it's a beaten-down stock worth owning if you are comfortable with tech sectors' volatility. Want to receive this daily stock market recap report in your mailbox?
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