Tale of the Tape
Good evening everyone.
Stocks closed mixed today and once again all of the major indices were little changed on light volume.
This is normal Summer action and in 2020 any sense of normalcy should be cherished like an old friend.
We’re seeing another uptick in COVID anxiety with the recent increases in cases in states like Arizona, Texas etc.
The angst is rearing its ugly mug in the tape as the Airlines and Cruise Lines are starting to feel the burn again.
Meanwhile, the COVID stocks are rocking.
Tonight, we’ll take a quick look at some of these hotties – names like Zoom and Peloton that have been relentless.
We’ve seen it over the past 3 months and we’re still seeing it today. Winners win.
The winners in this 2020 COVID tape include companies that have been able to leverage exceptional brands, products, and technology into the teeth of the insanity.
The list includes stocks like these, which all have sick charts:
Zoom +257% YTD
Peloton +79% YTD
DataDog +129% YTD
Amazon +45% YTD
Facebook +16% YTD
Apple +20% YTD
Spotify +55% YTD
Teladoc +140% YTD
Wayfair 133% YTD
DraftKings 293% YTD
Every stock mentioned above made new weekly closing highs.
Winners win until they don’t so until then…
Speaking of winners – When was the last time y’all looked at a long term chart of a biotech ETF?
Well here’s iShares Nasdaq Biotech ETF, $IBB monthly chart from its launch in 2001 up through today’s close.
$IBB also made a new high weekly close. You call it, breakout or fakeout? Place your bets…
Apple is Reclosing Stores
Apple announced that it will be re-closing stores in North & South Carolina, Florida, and Arizona. The market took this news to heart and moved lower.
$AAPL closed off 0.57% today but still made a new weekly closing high. So, not too bad.
Here’s the Apple store at Scottsdale Fashion Square in Arizona. This is one of the stores that will be closing, though Apple sure can design a store.
Here’s more from Bloomberg on the temporary closure.
Big A$$ Ships
Check this insanely cool photo essay from NYT visualizing how giant ships are built.
Links That Don’t Suck
🚀 The Future of the Space Economy
Apple’s Mac Chip Switch Spells Trouble for Intel
💰 Robinhood Robinhood Robinhood
🏗 Tesla Giga Berlin Demonstrates Faster Factory Construction Than Giga Shanghai
📺 Interview w/ Veteran Stock Trader Patrick Walker
🚎 Alaska Airlifts ‘Into the Wild’ Bus Out of the Wild
💥 Surprised By Surprise