Monday’s Headlines: A Day Of Stock Splits

Monday’s Headlines: A Day Of Stock Splits

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Workday (WDAY) +12.6%

Chuy's (CHUY) +9.3%

Peloton Interactive (PTON) +8.1%

Roku Inc. (ROKU) +7.4%

Nordstrom (JWN) +6.0%

Moving Down ⬇️

Teladoc (TDOC) -3.3%

Chegg (CHGG) -3.0%

Etsy (ETSY) -2.2%

MercadoLibre (MELI) -1.9%

Align Technology (ALGN) -1.7%

1. On Friday, the Dow Jones (DIA) became the third and final major U.S. index to completely erase its 2020 losses, rising 0.4% year-to-date (YTD). The 30-stock index still trails the S&P 500 (VOO) and Nasdaq (QQQ) which are both at record-highs having risen 8% and 35% YTD respectively. Barring any catastrophic collapse in the market today, the Dow should close out its best August performance in 36 years, while the S&P 500 also had its best August run since 1984. Read the full report here.  

2. Today is a day of big shake-ups with both Apple (AAPL) and Tesla (TSLA) performing 4-to-1 and 5-to-1 stock splits respectively. Though this does not change either company's intrinsic value, it does mean that when the market opens today, both stocks will be at significantly lower prices, making them much more appealing to retail investors. So, when you see Tesla’s stock price trading at 80% of what it was on Friday, don’t panic, because it means you have an extra four shares. The same goes for Apple. Get a more in-depth explanation here.

3. Shares in Peloton (PTON) ‘hill-climbed’ to an all-time high on Friday, leaping 8.1% to close at $75.96. This bullish sentiment appears to be derived from analyst upgrades to the stock's price target last week, with some experts predicting that Peloton will add 208,000 new subscribers in the fourth quarter, compared to the consensus estimate of 199,000. As pandemic-driven fear keeps people out of gyms, Peloton’s stock has risen more than 155% YTD, while ideological rival, Planet Fitness (PLNT), has fallen 15% in the same period. Read the full story here

Earnings today

There is one company in the MyWallSt shortlist that will report earnings today:

  • Zoom (ZM)

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