wow (part 2)
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NEWS
wow (part 2)
Source: Tenor
Welcome to today’s actual Daily Rip, not the test version our team accidentally sent out this morning. We all make mistakes, though the power of the publish button hits a bit differently when there are over a million people on the other side of it. 🤣
Nevertheless, it was a busy day on Wall Street, and we’ve got you covered. Stock market bulls are still searching for a catalyst amid economic and geopolitical uncertainty. Meanwhile, precious metal bulls are running wild as gold hits a new all-time high, and silver prices hit their highest level since 2011. 👀
Today’s issue covers why bulls can’t catch a break, GameStop and other big movers, and more of the most notable stories from the day. 📰
Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with consumer staples (+1.14%) leading and energy (-0.97%) lagging.
Source: Finviz
And here are the closing prices:
|
S&P 500 |
5,693 |
-0.33% |
|
Nasdaq |
17,804 |
-0.53% |
|
Russell 2000 |
2,066 |
-0.39% |
|
Dow Jones |
42,300 |
-0.37% |
STOCKS
Bulls Can’t Catch A Break 🫠
With the market indexes struggling to reclaim their 200-day moving averages, bulls are waiting for a catalyst. However, on the economic front, Lululemon’s holiday-quarter results raised further red flags about the state of the U.S. consumer.
The athletic apparel company’s earnings per share and revenue both topped estimates, but its guidance failed to impress. CFO Meghan Frank signaled that gross margin for 2025 is expected to fall 0.6 percentage points due to higher fixed costs, foreign exchange rates, and U.S. tariffs on China and Mexico. 🔻
CEO Calvin McDonald said a company survey found that consumers are spending less due to economic and inflation concerns, weighing on U.S. traffic at its stores and industry peers. “There continues to be considerable uncertainty driven by macro and geopolitical circumstances. That being said, we remain focused on what we can control.”
Shares fell by as much as 20% after hours, but have recovered roughly half that decline as of writing this. Stocktwits sentiment is now ‘extremely bearish.’ 🐻
Source: Stocktwits
Overall market sentiment is subdued, as indicated by the progress of Nvidia-backed CoreWeave’s IPO. Nvidia signaled that it was looking to anchor the IPO by purchasing $250 million of stock at $40 per share. With the company initially aiming for $47 to $55, investors now know the final offering price will fall short.
If this hype-heavy AI stock can’t find its footing in tomorrow’s Nasdaq debut, bears will use that as an opportunity to build on the market’s pessimism. And right now, our poll indicates many retail investors will be avoiding it altogether. 😬
Source: Stocktwits
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STOCKS
Other Noteworthy Pops & Drops 📋️
Paychex ($PAYX +1%): Wall Street analysts announced a slew of price target hikes after the company topped third-quarter earnings reports.
Advanced Micro Devices ($AMD -3%): Jeffries downgraded the stock to ‘Hold’ and lowered its price target from $135 to $120, citing growing competitive pressures from Intel and Nvidia. It expressed skepticism over AMD’s AI growth projections.
Bitfarms ($BITF -3%): The Bitcoin miner’s revenue growth topped estimates, and it turned a surprise profit. Retail sentiment turned bullish even as prices broke $1.
New Fortress Energy ($NFE -16%): The company announced the sale of its Jamaican assets and operations to Excelerate Energy, Inc. (EE) for $1.06 billion. It’ll use the proceeds to reduce its corporate debt and for general corporate purposes.
Nio ($NIO -5%): The Chinese EV maker announced the pricing of its new share offering at a discount to its current stock price. It’ll use the $518 million in proceeds to research and develop smart electric vehicle technologies and new products, strengthen its balance sheet, and for general corporate purposes.
Kyndryl Holdings ($KD -5%): Short-seller Gotham City Research accused the IT services provider of accounting manipulation, claiming the stock is significantly overvalued and could drop by as much as 67% or even to zero.
Oklo ($OKLO -10%): Market commentator Herb Greenberg added the stock to his ‘Red Flag Focus List,’ citing concerns over its financials and earnings call.
Boeing ($BA +0.4%): Won a $240 million contract from the U.S. Army Special Operations Aviation Command (USASOAC) to remanufacture five MH-47G Block II Chinook aircraft.
Archer Aviation ($ACHR -3%): The company signed an agreement with Ethiopian Airlines to deploy a fleet of Midnight aircraft to Africa’s largest carrier. Archer and Ethiopian Airlines will collaborate to bring an all-electric air taxi network to the region using Archer’s Midnight aircraft, valued at up to $30 million.
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STOCKS
Holy Double-Digit Moves, Batman 🤯
While the major indexes were stuck in neutral today, several stocks were making big moves under the surface. Let’s quickly review. 👇️
We’ll start with GameStop, where investors are seemingly rethinking their view of the convertible note offering and Bitcoin purchases. Shares fell all day, notching a 22% decline, yet Stocktwits sentiment remained “extremely bullish.’ 🤔
Applovin Corp. ($APP -20%): Muddy Waters’ short report alleges AppLovin’s ad tactics violate app store terms of service. A contrasting view from Wells Fargo, which maintained an ‘Overweight’ rating, highlighted AppLovin’s strong e-commerce growth. Still, investors debated whether the “growth” story is over. 📉
Soleno Therapeutics ($SLNO +38%): The biopharmaceutical company received approval from the Food and Drug Administration (FDA) for its VYKAT XR extended-release tablets. Shares closed at an eight-year high on a closing basis. 💊
MicroAlgo ($MLGO +31%): WiMi Hologram Cloud (WIMI) announced it had increased its stake in the company to 67.65%. Alongside the purchase, the company implemented a ten-year lock-up period for its MicroAlgo holdings, reinforcing a long-term commitment to its stake. 🤝
You can check out the “Most Active” tab for more of the biggest movers. 📊
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WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: Core PCE Price Index (8:30 am), Michigan Consumer Sentiment (10 am), Fed Barr Speech (12:15 pm), Fed Bostic Speech (3:30 pm). 📊
Pre-Market Earnings: Katapult Holdings ($KPLT), ImmunoPrecise Antibodies ($IPA), China Automotive Systems ($CAAS), So-Young International ($SY). 🛏️
After-Hour Earnings: Xos Inc. ($XOS). 🎧
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
Links That Don’t Suck 🌐
🧑🏫 MarketSurge extended access sale: sign up now and save $125 for a limited time*
📽️ Boulder to host Sundance Film Festival
🎮️ All the news from Nintendo’s March Direct showcase
💵 ‘Assassin’s Creed’ maker carves out €4 billion unit with Tencent
🫠 ChatGPT’s viral image-generation AI is ‘melting’ OpenAI’s GPUs
◀️ Senate votes to overturn CFPB overdraft rule, in new blow for agency
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
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