Monday’s Headlines: Etsy Gets The Nod Over Tesla

Monday’s Headlines: Etsy Gets The Nod Over Tesla

NOTICE: Don’t forget that the stock market is closed today in the U.S. due to the Labor Day weekend.

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

Moving Up ⬆️

Duluth Trading (DLTH) +10.8%

Eventbrite (EB) +6.1%

IMAX (IMAX) +4.0%

Retail Opportunity Investments Corp (ROIC) +3.5%

Tesla Motors (TSLA) +2.8%

Moving Down ⬇️

DocuSign (DOCU) -10.6%

Coupa Software (COUP) -7.3%

PayPal (PYPL) -6.4%

Slack Technologies (WORK) -6.2%

Yext (YEXT) -6.2%

1. Tesla (TSLA) fans look away now! The world’s most valuable car manufacturer has been left out in the cold by the S&P 500 (VOO) in favor of adding Etsy (ETSY). Shares in the e-commerce firm rose as much as 5% after-hours on Friday in contrast to Tesla, which fell 7% in the same period and is down 16% since last Tuesday. Tesla shares are still up nearly 400% for the year while Etsy, which directly competes with Amazon (AMZN), is up 148% year-to-date (YTD). Read the full story here.

2. Jeff Bezos can’t have everything it seems, as the Pentagon announced Friday that it will stick with Microsoft (MSFT) for its $10 billion JEDI cloud contract. The JEDI, or Joint Enterprise Defense Infrastructure, deal has become one of the government’s most hotly contested deals, leading to Amazon’s challenging of the contracts awarding to Microsoft back in October. This latest decision represents a major blow to Amazon Web Services, with the e-commerce giant reporting that it will continue to fight the decision, so don’t expect this to be the last you hear of it. Get the complete report here.

3. Shares in IMAX Corp (IMAX) rose 4% on Friday and continued rising after-hours following the successful release of Christopher Nolan’s ‘Tenet’ in cinemas worldwide. After the promising launch of Disney’s (DIS) ‘Mulan’ earlier in the week, Tenet brought in $11.1 million over the weekend, making it IMAX’s biggest global box office weekend ever in September. IMAX theatres delivered 14% of the overall weekend global box office while accounting for only 1% of screens; a welcome boost for a stock which has fallen 22% YTD. Read more here.

JamieJamie

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