Tuesday’s Headlines: Netflix Capitalizes On 'Squid Game' Mania

Tuesday’s Headlines: Netflix Capitalizes On 'Squid Game' Mania

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Wynn Resorts (WYNN) +3.4%

Cloudflare (NET) +3.3%

Gentex (GNTX) +3.0%

Trupanion (TRUP) +2.8%

Huazhu Hotels Group (HTHT) +2.7%

Moving Down ⬇️

StoneCo (STNE) -6.8%

Stitch Fix (SFIX) -4.6%

Etsy (ETSY) -4.6%

MercadoLibre (MELI) -3.4%

Yext (YEXT) -3.3%

1. Despite Netflix (NFLX) launching a partnership with Walmart (WMT) to build a new digital storefront, Netflix Hub, its shares fell almost 1% yesterday. The world’s largest streaming service and largest retailer have teamed up to sell music collections, dolls, and apparel, tied to hit shows ‘Stranger Things’ and recent global success, ‘Squid Game.’ Following in the steps of media rival Disney (DIS)+, Netflix is expanding its merchandise library to market its content away from its own platform. Marking Netflix’s first digital storefront with a national retailer, the move proves the popularity of the brand while offering another revenue stream that the company can then pump back into original content. See more on the story here

2. Big Tech and energy stocks gave up the gains yesterday as investors wait cautiously for a busy earnings season. The S&P 500 (VOO) and Dow Jones Industrial Average (DIA) both fell 0.7%, while the Nasdaq Composite (QQQ) also slid. Putting pressure on the major indexes was technology titans Google (GOOG), Apple (AAPL), Facebook (FB ), Amazon (AMZN), and Microsoft (MSFT) all ending the day in the red. As shareholders wait for further clues on monetary policy, such as the Federal Reserve's September meeting minutes report scheduled to be released later this week, sentiment on Wall Street is subdued. Get the full story here.

3. As if the EV space was not competitive enough, Evergrande announced yesterday that it is throwing its hat in the ring and plans to roll out its first vehicle next year. Evergrande has been a hot topic lately as it sent Chinese stocks into a meltdown last month when it sparked fears of a potential debt default for Chinese real estate. Now, the property developer has allegedly already met with suppliers and the local government in Tianjin to push forward with mass production of its Hengchi-branded cars. The news sent ​​shares of China Evergrande New Energy Vehicle Group up over 10% in morning trading. Known as the world’s most indebted property developer, confidence in the company has plummeted so it might find it hard to compete with established player Tesla (TSLA). Read the full story here.

NicoleNicole

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