Tuesday's Headlines: Analysts Initiate Coverage on Airbnb and DoorDash

Tuesday's Headlines: Analysts Initiate Coverage on Airbnb and DoorDash

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Zoom Communications (ZM) +6.7%

ShotSpotter (SSTI) +3.7%

Tesla Motors (TSLA) +3.4%

Pinterest (PINS) +3.3%

TrueCar (TRUE) +3.1%

Moving Down ⬇️

Eventbrite (EB) -9.7%

Lemonade (LMND) -7.5%

Datadog (DDOG) -7.3%

Paycom (PAYC) -5.4%

Wynn Resorts (WYNN) -5.3%

 

1. After getting the first major trading day of the new year off to a good start, most U.S. indices closed in the red yesterday as rising COVID-19 cases shook investor confidence. Despite the increasing rollout of vaccines, numerous countries across the globe have been forced to tighten restrictions once again thanks to a massive spike in cases, including a full lockdown in the U.K. and extended measures in Germany. On the domestic front, investors will also be keenly watching the U.S. Senate runoffs in Georgia today that will determine whether the Republicans or Democrats control Congress. Read more here.

2. Roughly a month after listing on the NYSE and NASDAQ respectively, some major Wall Street brokerages initiated coverage on DoorDash (DASH) and Airbnb (ABNB) yesterday. For investors, coverage like this is useful as it gives us insight into how analysts like Goldman Sachs, JPMorgan Chase, and Morgan Stanley view these companies. In relation to DoorDash and Airbnb, analysts across the board seemed bullish on their growth over the next few years, although there are concerns over the current lofty valuations of both companies. Find out more here.

3. It was supposed to be a dream team that would reform one of the biggest issues in the U.S., but Haven announced yesterday that it would be closing down at the end of February. Formed back in 2018 by the CEOs of Amazon (AMZN), Berkshire Hathaway (BRK.B), and JPMorgan Chase (JPM), Haven's mission was to tackle the problem of rising employee healthcare costs. However, it is reported that the need for the joint venture was obviated in recent times as each of the three founding companies worked on their own healthcare projects separately. In addition to this, the project's shuttering is also clear evidence of the complexity of the American health care system, which costs the country a reported $3.5 trillion every year. More on this here.

JamesJames

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