Friday’s Headlines: Twitter’s Not Having A Good Time

Friday’s Headlines: Twitter’s Not Having A Good Time

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

TrueCar (TRUE) +8.5%

Chuy's (CHUY) +7.4%

Nautilus (NLS) +6.6%

Zoom Communications (ZM) +5.3%

Peloton Interactive (PTON) +3.8%

Moving Down ⬇️

The Trade Desk (TTD) -8.2%

Cloudflare (NET) -4.4%

2U (TWOU) -3.5%

Eventbrite (EB) -3.1%

Evolent Health (EVH) -2.9%

1. Although Twitter (TWTR) may be the turnaround stock in our midst, its glaring issues are beginning to resurface for investors this week. The social media site experienced a massive outage on Thursday night that lasted almost two hours, though the company has since confirmed that the problem has been resolved and revealed that there is ‘no evidence of hacking.’ Twitter might wish it was still down though as it looks like the U.S. Senate Judiciary Committee is moving to subpoena Twitter’s Chief Executive Jack Dorsey after Twitter blocked stories from the New York Post that could be damaging to presidential candidate Joe Biden’s son. Read more here

2. Only yesterday we spoke about Zoom’s (ZM) latest product launch, which sent the teleconferencing software-maker up 5.33% to a record high of $536.40 as of market close. The jump comes after Bank of America (BAC) analysts upgraded the stock’s price target to $570, largely due to optimism driven by Zoom’s ‘Zoomtopia’ event this week, which highlighted the company’s ongoing efforts to monetize its product further as well as make advances in mobile offerings. Despite Zoom stock rising more than 680% year-to-date, analysts have reaffirmed that they do not believe that momentum is slowing, with plenty of growth still to come. Check out the official Zoomtopia site here

3. It seems like Zoom wasn’t the only growth stock Bank of America had its eye on yesterday after analysts raised price targets for Peloton (PTON) on Thursday, sending shares leaping 3.8%. Peloton’s price target has been raised to $150 from $116 as analysts believe that the exercise equipment-makers growing product lineup and stay-at-home trends stand to lift shares well into 2021. With shares up 65% in the past month alone, analysts had this to say: "With rising COVID cases worldwide, we think elevated health concerns and new product launches could drive strong holiday demand and continued upside to Street estimates." Read more here

JamieJamie

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