Master your fundamental research. Join 79,465 investors who trust our platform and content.
Save 54+ hours of fundamental research with free access to Stock Card.
We only ask your name and email address.
The uncertainty around COVID and the Fed's decision led to a volatile week.
The market indices closed in the green today, after sliding almost all week.
In summary, this week COVID numbers continued to rise, yet Federal Reserve members are contemplating tapering back favorable money policies. Jobless numbers have fallen, based on the report yesterday, yet there is a lot of uncertainty going forward. I don’t blame the market for being so volatile lately. It's the uncertainty that gets the investors unpredictable.
GET THE DAILY MARKET RECAP
Facebook (FB) unveils a new VR workplace, while Topps loses its MLB partnership and SPAC merger.
Guys, before we dive into the analysis of the stocks suggested by your fellow Stock Cardians, I wanted to talk about two important news related to VR and NFT megatrends.
Facebook (FB) launched an experimental new virtual reality workspace where employees can meet, chat, and plan while immersed in a virtual office. This is really taking working from home to a new level! The work-from-home trend is merging with VR and creates new possibilities that we couldn't have imagined before. That's why on the left-hand side of Facebook's Stock Card, you can see the stock belongs to a work-from-home collection, as well as a few VR ones. Despite many people assuming that FB is hitting a growth ceiling, the company is still pursuing new and exciting possibilities.
Another noteworthy news is coming from the theme of NFTs (non-fungible token). The NFT-based sports trading card company, Topps, lost its 70-year-long partnership with Major League Baseball. As a result, it had no choice but to end the planned SPAC merger with blank check company Mudrick Acquisitions (MUDS). Topps just recently hopped on the digital collectibles trend, otherwise known as NFTs. This shows how volatile the NFT market is and how hard it is to figure out the ultimate main platform for trading NFTs.
Community-recommended stocks: FuboTV (FUBO) and Washington Trust Bancorp (WASH)
Folks, it’s been a slower day in the market. I thought this was a great opportunity to get around to some stocks suggested by our community. Stock Cardians have been suggesting plenty of great stocks to our team to research. So today we are diving into FuboTV (FUBO) and Washington Trust Bancorp (WASH).
FuboTV (FUBO) is a streaming service that bundles together packs of live TV channels, generally around sports. The stock has been on a wild ride if you look at the chart these past couple of weeks. Let’s take a quick look:
It looks like FuboTV is sticking to its vision of the future of TV networks to be niche bundles. Many consumers aren’t looking to pay for a large stack of channels they aren’t interested in, but the targeted deals that FuboTV advertises are a smart alternative. This will be a stock to keep an eye on as we leave traditional cable television behind.
Secondly, we have Washington Trust Bancorp (WASH). WASH is a financial institution that provides value to its customers through two services: banking and wealth management. It has plenty of subsidiaries, particularly in the commercial banking side of the company, which generates most of its revenue.
No major news moved the stock this week, but it seems shares have been climbing ever since it posted a so-so earnings report back in late July. The stock dropped sharply as investors reacted poorly to the lower returns this quarter. Financial institutions weren’t spared from the volatility of the pandemic, yet WASH is still looking alright on paper. For banks, you would want to take a look at their Return on Asset (ROA), and WASH's ROA is in a reasonable range. Growth may be a little stagnant, but its Stock Card is a nice 3-greener.
Generally, as interest rates go up, and assuming the Fed would do that at some point in the next few quarters, banks would have higher revenue from the interest they charge their customers, which in turn would help the bank's performance get better. That's one reason to pick up bank stocks to benefit from these potential profits. I'm not a bank stock investor, but I can see why it appeals to some investors, especially those who look for a 4%+ dividend yield that this bank pays its investors.
FEATURED PARTNER PORTFOLIO
Watch Leo Rodriguez research three clean energy stocks using Stock Card!
Before we end today’s episode, I wanted to mention this great partner of ours once again. As you know, at Stock Card, we love linking up with a diverse group of investors who do diligent research with various strategies. Our latest partner, Leo Rodriguez, who runs the Finance Turned Easy channel, is a quality content creator.
A couple of days ago, Leo published a video breaking down three hidden gem stocks in the clean energy space, one of those megatrends shaping the future. Leo also highlights some valuable features of the Stock Card in the video as well. Check it out to see it in action!
Don't forget that Leo has a portfolio of his own on Stock Card. Search for "penny stocks" in the search bar on the Stock Picks page and visit his High Growth Penny Stocks of the Future portfolio. Follow it to be notified when he adds a new stock!
WANT TO RECEIVE THIS DAILY STOCK MARKET REPORT IN YOUR MAILBOX?