Tuesday’s Headlines: The Nasdaq Is On A Roll
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Chuy's (CHUY) +10.1%
Axos Financial (AX) +8.9%
Stitch Fix (SFIX) +8.3%
Under Armour (UAA) +7.9%
Eventbrite (EB) +7.6%
Moving Down ⬇️
Planet Fitness (PLNT) -3.4%
Twilio (TWLO) -4.6%
Slack Technologies (WORK) -5.1%
Smartsheet (SMAR) -6.0%
Roku Inc. (ROKU) -6.1%
1. Tech still rules supreme on Wall Street, as evidenced by the widening gap between the Nasdaq (QQQ) and its counterparts. Yesterday’s gains saw the Nasdaq finish up 10% year to date, while the Dow (DIA) is down 10.8% so far, and the S&P 500 (VOO) is down around 6%, giving the tech-heavy index one of its best-ever first halves of the year. Some of the outperformance is due to a handful of growth Nasdaq stocks that have surged this year, including Apple (AAPL), Zoom (ZM), Amazon (AMZN), Tesla (TSLA), and Facebook (FB). Get the complete story here.
2. Buying a $1500 wall-mounted mirror through which you can stream live classes may not be to everyone’s taste, but that hasn’t stopped Lululemon (LULU) paying $500 million for the concept. The athleisure company announced the deal to buy Mirror — no brain cells harmed in the naming process anyway — after-hours yesterday, with shares soaring as much as 4%. The business offers live classes weekly through its wall-mounted mirror device in addition to on-demand workouts and one-on-one personal training sessions via a $39 per month subscription. Read the full report here.
3. Tesla (TSLA) is back in the $1,000 per share club on the 10th anniversary of its IPO, after closing out Monday up more than 5%, bringing its 10-year rise to more than 4000%. This grand success story, while wonderful, was somewhat overshadowed by the fact that CEO Elon Musk emailed employees yesterday to inform them that ‘breaking even is looking super tight’. The email is unclear as to whether the eccentric CEO is referring to profit margins or production numbers, but we should learn more when the company announces its second-quarter vehicle production and deliveries numbers this week. Read more here.