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Key Points
Overall Market
The Stock Market Indices Fell as Investors See The Signs of Inflation in Commodity Prices and Everyday Item Shortages.
It was a difficult start to the week, especially for the Nasdaq index, falling more than 2%. The other two indices also finished the day in the red.
As we discussed last week, inflation fears due to rising prices and shortages in commodities such as lumber and everyday items, such as used cars and appliances, gave investors enough reasons to sell and lock some of their recent gains. April's Consumer Price index report is expected on May 12th. Let's keep an eye on it once the report is out and discuss the impact on investors' sentiment in future articles. What's Up
Why Did Coinbase (COIN) Stock Jump More Than 11% Today?
Excluding penny stocks and OTC stocks, about 1660 stocks ended Monday in the green. When I sort them based on return, a few interesting names pop up. Notably, shares of Coinbase (COIN) were up more than 9%. The cryptocurrency trading platform got an upgrade from Oppenheimer.
Generally speaking, Coinbase could be an excellent choice if you want to get some exposure to the cryptocurrency market without directly investing in it. You just need to be very comfortable with extreme volatility. Coinbase would move with the crypto market, and if anything happens to any of the major cryptocurrencies, you'll undoubtedly see the impact on Coinbase's stock price. What's Down
Is It Time to Buy Social Media Stocks After The Recent Price Drop?
A few days ago, we discussed how social media companies have lost their momentum and are getting more interesting by the day. The price fall continued today.
Pinterest (PINS) dropped more than 3%, as did Twitter (TWTR) by more than 4%, and Snap (SNAP) by more than 5%. I bet you Facebook (FB) didn't have a better day either, it was down more than 4%. All these companies have one thing in common: they make money from social media and online advertising. The main reason is a warning by Citigroup analysts about the slowdown in digital advertising. The digital ad spending will recover sooner than later. This industry is expected to grow by more than 15% year over year until 2027. These fluctuations tend to be short-term. The world is going digital, and none of us doubt that. The current slowdown is a reflection of higher spending last year. As I told you last time, I'm watching these companies very closely and may jump in, especially if the sell-off continues. Give Stock Card A Try!
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