Tale of the Tape
Happy Friday, folks!! We conclude another week on Wall Street. It’s hard to believe that in 2 weeks from today, it will be 2021. Time flies when you’re having fun… 😅
Every major index tumbled today. The Nasdaq was basically flat, but negative nonetheless. The Dow and Russell 2000 both dropped 0.41%.
Basic materials was the strongest sector and closed at a new all-time high. Energy and real estate both lagged and lost over 1.5%.
Bitcoin continues to bounce around the 23K / 22K area. Which way will the crypto crack? Place your bets…
Nike reported earnings after the close. The company just had to report on a Friday afternoon..? We’ll see where $NKE opens on Monday.
Tesla ticked $684 ($3,420 pre-split) on the final trading day before its S&P 500 inclusion on Monday. See more on Elon’s EV maker below.
Crowdstrike cleared $200 for the first time ever. The stock is up 308% YTD.
$PTON popped to another all-time high. The stock had its best week since early May. Hip Hop Hooray!!
In case you missed it, Stocktwits was featured in today’s WSJ. 🙂 Did you know that Santa is the OG Bagholder?? 👀
Here are the closing prints:
Elon’s Electric Entrance
After Tesla tip-toed to its spot as the 6th-largest company in the US (by market cap), it will officially join the S&P 500 on Monday.
Ally Financial said this about the inclusion:
It’s a meaningful stamp of approval for any company, especially one with high scrutiny on its operations and management, and it could provide a huge boost to Tesla’s street cred.
Let’s not get too carried away, though. Tesla’s already seen a big S&P 500 pop, and that could lead to a flop on the other side. We’ve seen that type of short-term action with big companies before.
Who knows where the stock will go. 🤷♂️ As of today’s close ($695), $TSLA is up 1059% since reporting Q3 2019 earnings in October 2019. Check out this daily chart:
Here’s a look at a few weekly charts as we wrap another week on Wall Street.
It’s a small world after all. 🌎 The Russell 2000 rallied another 3% this week. The small-cap index has surged for seven straight weeks. What a streak! Here’s the weekly chart:
Not only is technology the strongest sector so far this year, it was also the top performer of the week. $XLK cruised 3% and closed at a new weekly record high. Winners win.
Check out the weekly chart:
Energy sucked. It was the worst sector this week as the energy ETF $XLE fell 4%. Here’s the weekly chart:
In case you forgot, Bitcoin broke through 20K for the first time ever. The cryptocurrency continued to cruise through 23K where it fluctuates today. Will Bitcoin have another beastly week? Place your bets…
Here’s the weekly chart:
The sun was hot. The solar ETF surged 14.5%, setting its best week since late September.
Here’s the weekly chart:
Sony Pulls Cyberpunk 2077
Cyberpunk 2077 just failed its highly-anticipated 2020 launch.
And we mean, failed it. 😬
Sony held a meeting to announce the company will be pulling Cyberpunk from the Playstation store after countless fans complained about glitches and bugs. The game’s Polish developer, CD Projekt, tweeted:
…following our discussion with PlayStation, a decision was made to temporarily suspend digital distribution [of the game].
CD Projekt fell 12% in Warsaw today on the news. Yikes.
Santa’s biggest competition is…
…FedEx — and they don’t have to deal with reindeer drama, so he better watch out.
The prestigious parcel company reported earnings yesterday afternoon. Today, $FDX fell 5.71% as the company failed to provide guidance for 2021.
Michael C. Lenz, FedEx Corp.’s Executive VP and CFO, said:
The benefits of the investments across our business over the past several years are reflected in our strong second quarter results. While the overall environment remains uncertain, we expect earnings growth in the second half of fiscal 2021 driven by the anticipated heightened demand for our services as we continue to execute on our strategic priorities.
Despite the down day, $FDX is still up 82% YTD. Here’s the daily chart:
The US vaccine frenzy has begun as our nation’s leaders broadcast their COVID-19 immunizations on live TV.
Woohoo, science! 🔬🦠
So far, VP Mike Pence, House Speaker Nancy Pelosi, Congressman Don Beyer, and Senate majority leader Mitch McConnell have all gotten their shots.
Mike Pence said:
I didn’t feel a thing.
President-elect Joe Biden said he will also livestream his COVID-19 vaccine next week.
When can you expect to get vaccinated, too? Here’s CNN with the details.
Today on Stocktwits…
Will $SHOP soar? Place your bets…
Here’s Greg’s weekly chart:
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