Tuesday’s Headlines: Tesla Shares Run Out Of Battery
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Tripadvisor (TRIP) +12.0%
Duluth Trading (DLTH) +6.2%
IMAX (IMAX) +5.6%
Eventbrite (EB) +4.9%
Walt Disney Co. (DIS) +4.4%
Moving Down ⬇️
Peloton Interactive (PTON) -10.0%
Sea Limited (SE) -9.7%
Nautilus (NLS) -9.6%
Tesla Motors (TSLA) -8.6%
DocuSign (DOCU) -8.2%
1. Tesla (TSLA) stock had its biggest drop since September when it closed down 8.55% yesterday. While reasons for the drop include an investor drive of cyclical stocks based on the belief of a post-pandemic comeback, another reason could be the 11% decline in Bitcoin. A wider sell-off in technology companies also led stocks mostly lower yesterday as concerns over rising interest rates and the potential for further inflation grows. The tech-heavy Nasdaq composite slid 2.5%, while Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) also all traded in the red yesterday. Read more on the story here.
2. The e-commerce arm of Sea Limited (SE), Shopee, has just launched its app in Mexico. Mexico is Latin America’s second-largest economy, so Shopee’s expansion into this country could spark a major new growth opportunity in the company’s cross-border sales, added to its already-existing operations in Brazil. A preview of the app on the Apple website in Mexico showed that Shopee will offer free shipping, as well as sales of electronics, clothes, toys, and home goods. Despite the news, Sea Limited shares fell 9.7% on Monday thanks to a wider market sell-off, but still remain up 29% year-to-date (YTD). See the full story here.
3. Spotify (SPOT) users might have to start coughing up some hard cash to listen to their favorite podcasts following the company’s latest announcement. During a live-streamed event yesterday, Spotify officially confirmed that it will begin beta testing a new addition in its Anchor creation tool that will allow U.S. hosts to publish paid podcast content, directed towards their “most dedicated fans.” The news does not come as a surprise though as Spotify hinted at the idea during its Q4 earnings release earlier this month, where paid podcasts were one of several additions disclosed as being in the works. Check out the full story here.
1 earning from last night:
The fitness equipment maker said demand for in-home exercise products is still high, with Nautilus reporting a 708% increase over the past year in adjusted earnings to $0.97 per share on revenue of $189 million, up over 81%. Nautilus said it's still struggling with deliveries due to the pandemic though, stating: “We ended the year with $91 million in backlog as, similar to many industries, we continue to face disruptions in global logistics.” Read the full report here.
There are 3 companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.