Tesla Had Its Best Day Since February 3, 2020

/ Stocktwits

Tale of the Tape

Good evening, ladies and gentlemen. The market of stocks marched on. The Nasdaq Composite cleared its best day since November 4, 2020. 

On this day last year, the Dow dropped 2K (-7.8%). Today, the index ticked an all-time high for its second straight day. 😌 Time flies. 💸

Consumer discretionary was the best sector, followed closely by technology. Energy, financials, and industrials all closed lower. Will we see rotation back to tech, or was today a one-night stand? 🌙 Time will tell… 

Bitcoin nearly broke back above 55K for the first time since February 22, 2021. Ethereum barely budged, but $ETH.X is within ~10% of its all-time high. 

Tesla charged up 20% for its best day since February 2020. 

GameStop didn’t stop. 😤 The stock surged another 27% and closed only $100 away from its January 27th all-time high.

Solar stocks snapped back. $DQ dashed 22% while $RUN rallied 13%.

Cathie Wood’s ARK Innovation ETF $ARKK had its best day ever following its 30% correction. Buffett’s Berkshire closed at an all-time high for the third day in a row. 

Robolox is expected to make its trading debut tomorrow via direct listing. Some folks think the stock could trade anywhere from $30 to $120. Trade safe, y’all!! 

Here are the closing prints: 

S&P 5003,875+1.42%
Nasdaq13,073+3.69%
Russell 20002,245+0.49%
Dow Jones31,832+0.97%

Tesla and Tech Took Over

Tesla surged 20% for its best day since last February, while the technology ETF $XLK accelerated to its best day since last November. 🚗 💨 The semis snapped back and rallied 6%. 

Here are today’s performances from a few notable names:

Adobe | $ADBE +4.3%
Amazon | $AMZN +3.8%
Apple | $AAPL +4.1%
Facebook | $FB +4.1%
Nvidia | $NVDA +8%

Here are today’s and yesterday’s S&P 500 heatmaps. Quite the opposites. 👀

March 9, 2021

March 8, 2021

Tech stocks were hot, but will we see follow-through on Wednesday? Place your bets… 

“Just Setting Up My NFT”

In yet another crazy NFT story, Twitter CEO Jack Dorsey is selling the first ever tweet— it’s currently on track to sell for $2.5M.

Right now, the highest bidder is CEO Sina Estavi of the Bridge Oracle platform. Although no one has topped his offer, he tweeted that he’ll have no problem upping his bid. 🤑

While that price might sound crazy, there is some good news. Jack will immediately convert the auction proceeds to Bitcoin and donate to his Give Directly Africa Response, an organization providing Covid relief to vulnerable families. S/O to him!

If you’re interested in joining the auction action, here’s the link. 😅

More on Vaccines 💉

New York just lowered the minimum required age to receive a Covid-19 immunization— now, all New Yorkers 60+ can get vaccinated. 🙌

NY Gov Cuomo will lower the minimum age requirement from 65 to 60 on March 10. Starting March 17, in-person workers at government agencies and nonprofits can also get shots. 

Almost 20% of New Yorkers have received their first dose. Meanwhile, though, slow vaccine distribution remains a huge problem. In response to the slow rollout, ZocDoc founder Cyrus Massoumi created a platform to match providers with patients on standby for vaccines. 

Even though Covid vaccines are a high-demand, scarce resource, they’re expiring in huge quantities. 😬 Massoumi’s platform unites soon-to-be-expired immunizations with vaccine seekers. 

Read more about it here.

Bye Bye, Chase Pay

Chase Pay is no more— JPMorgan Chase & Co will discontinue its Chase Pay digital wallet at the end of March. The move comes as banks struggle to compete with Apple Pay. 

Instead, Chase customers can link credit cards to their preferred shopping websites and PayPal accounts. The bank has also partnered with PayPal to offer rewards.

Pay with Points and other features will become part of the Chase mobile banking app. A Chase spokesperson said: 

In addition, we are working closely with our merchant clients on ways to integrate our digital experiences within their own respective sites. 

Just a heads-up, in case you’re an avid Chase Pay user. 🤷

MongoDB Made Money Moves

MongoDB reported earnings after the close. The software company beat earnings estimates and increased its revenue guidance.

Here are the numbers:

EPS: ($0.33) vs ($0.39) est.
Revenue: $171M +38% YoY

Dev Ittycheria, President and Chief Executive Officer of MongoDB, shared:

MongoDB’s fourth quarter performance was a strong finish to an incredibly successful year.  Our performance in fiscal 2021 demonstrated the increasingly strategic role MongoDB’s modern application data platform plays in enabling customers to use software and data to derive a competitive advantage. As we look ahead to fiscal 2022, MongoDB is in an excellent position to benefit from the shift to the cloud and the need to build smarter and more powerful applications that transform a company’s business.  We are confident in our ability to keep delivering strong growth at scale and will continue to invest in our platform to ensure we fully capitalize on our large market opportunity over the long-term.

$MDB marched 3% after hours. Here’s the daily chart:

Earnings This Week

Be sure to know when your stocks report earnings. Here’s the earnings calendar. 

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