Wednesday’s Headlines: Tesla Confirms 5-for-1 Stock Split

Wednesday’s Headlines: Tesla Confirms 5-for-1 Stock Split

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Nautilus (NLS) +14.2%

StoneCo (STNE) +11.0%

Wynn Resorts (WYNN) +8.4%

Vail Resorts (MTN) +6.0%

IMAX (IMAX) +6.0%

Moving Down ⬇️

Trupanion (TRUP) -8.5%

Zoom Communications (ZM) -7.6%

TrueCar (TRUE) -7.4%

ShotSpotter (SSTI) -6.0%

2U (TWOU) -5.8%

1. If you didn’t look at your portfolio yesterday, we recommend that you don’t, or you could be in for a nasty shock. Tech stocks led the Nasdaq (QQQ) and S&P 500 (VOO) lower on Tuesday, falling 1.7% and 0.8% respectively as uncertainty surrounding a second coronavirus stimulus bill caused investors to dump shares. It’s certainly set to be a choppy few months, between the bill, tensions with China, and the Presidential race, with Democratic nominee Joe Biden appointing Senator Kamala Harris as his running mate last night. Read the full story here.

2. Just weeks after Apple (AAPL) announced a 3-for-1 split, another tech giant, Tesla (TSLA), announced a five-for-one stock split on Tuesday evening. Tesla shares rose 6% in post-market trading despite the split changing nothing fundamental about the stock — although theoretically, it opens up trading to more retail investors who will see the stock as more ‘affordable’. With shares in the world’s largest automaker up almost 230% YTD and on the cusp of joining the S&P 500, it’s an exciting time to be a Tesla investor. Get the official report here.

3. Shares in Zoom (ZM) fell 7.6% on Tuesday, bringing its total losses in the last 4 sessions to 15.3% —  though it’s still up nearly 240% YTD. Its stock began falling this week as a result of Salesforce’s (CRM) disclosure on Monday that it had sold its entire stake in the Zoom as of June 30, which had totaled 2.78 million shares. Zoom Video’s stock is headed for its first close below the widely followed 50-day moving average since January 3. Read the full story here.

JamieJamie

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