Skip to main
Trevor Smith
@tvortrades
THE DAILY RECAP (Might rename this) ⚠️ Please read, this contains alot of information about the market ------------------------------- The week started out slowly, with stocks picking up throughout the day and rallying into the close — let’s see what else you missed. 👀 ------------------------------- Today’s recap includes a look at several high-profile earnings reports and more from the day! 📰 ------------------------------- 🙏 DROP A FOLLOW FOR DAILY MARKET RECAPS ------------------------------- First, check out the heat map... 8 of 11 sectors closed green. Communication services (+1.79%) led, and utilities (-1.91%) lagged. 🟢 China’s government squashed rumors that they would reduce their Covid-19 restrictions. Instead, an escalating resurgence has forced authorities and companies to increase their efforts to contain outbreaks. As a result, companies like Apple have warned of lower iPhone shipments amid the Chinese economy’s stop-and-go nature. 😷 Digital World Acquisition Corp. rallied 67% today after Donald Trump said he’ll ‘probably’ pursue a third presidential run. 📈 Meta rallied 6.53% on reports that it’s getting ready to start mass layoffs as early as Wednesday. ❌ Veru rose nearly 40% after its experimental Covid-19 drug met the main goal of reducing the death rate in a late-stage clinical trial. 💉 Lordstown Motors popped nearly 20% on news that Foxconn will invest up to $170 million and become the company’s largest shareholder. ⚡ In crypto news, LBRY lost its SEC case, setting a potentially dangerous precedent. Solana and Google Cloud announced a new partnership this weekend. OpenSea finally broke its silence on NFT royalties. Binance and FTX are feuding publicly. And the Feds seized $3.36 billion in bitcoin that was stolen a decade ago from the illegal Silk Road marketplace. ₿ Other symbols active on the streams included: $BLUE (+11.09%), $MMTLP (-0.40%), $TSLA (-5.01%), $MULN (-5.49%), $GCT (+26.61%), $HUDI (-91.22%), and $DOGE.X (+20.62%). 🔥 Here are the closing prices:  🟢 S&P 500: $3,807 +1.36% 🟢 Nasdaq: $10,565 +1.28% 🟢 Russell 2000: $1,810 +1.13% 🟢 Dow Jones: $32,827 +1.26% ------------------------------- 📄 EARNINGS 📄 ------------------------------- *The Growth Hangover Continues* Another software stock’s investors are having to Take-Two aspirins for the growth hangover they’re currently experiencing. 🤢 That’s because $TTWO shares are down 16% after reporting weaker-than-expected results and cutting its outlook. The company reported a loss of $1.54 per share, with revenues of $1.5 billion missing the $1.55 billion expected. But where things really turned south was its forward guidance. Its fiscal 2023 net bookings will now be $5.4-$5.5 billion, less than the company’s previous midpoint expectations of $5.77 billion. And its fiscal 2023 net loss will be $631-$674 million, significantly higher than the $398-$438 million loss it previously forecasted. 😨 This weakness’s primary driver is the broader gaming slowdown after two years of solid growth during the pandemic. The company’s updated forecast reflects changes to its pipelines, FX rate fluctuations, and a more cautious view of the macro backdrop. Investors weren’t playing any games with this earnings report, sending shares down 17% to their lowest level since April 2019. 🔻 *Investors Shed A Palantir Over Losses* The U.S. software company’s investors continued to weep as it delivered another weak quarter. 📝 Its adjusted earnings per share of $0.01 missed analyst expectations of $0.02. Meanwhile, revenues of $478 million edged ahead of the $470 million expected. The company’s U.S. commercial revenue rose 53% YoY, with its U.S. commercial customer count increasing 124% YoY (from 59 to 132). Overall revenue was up just 22%, though CEO Alex Karp anticipates regional markets in the U.S. could develop into billion-dollar businesses. In Europe, however, he noted that companies have been less willing to introduce “software systems that challenge existing habits.” The company’s Q4 guidance of $503-$505 million in revenue was in line with analyst estimates of $503 million. However, investors still sent $PLTR shares back towards all-time lows as patience for slower-growth tech companies remains thin. 👎 *Lyft Remains Stuck In Reverse* Last week Uber was able to deliver a satisfying result for its shareholders. Unfortunately, its competitor Lyft did not fare as well today, reversing back towards its all-time lows. ◀️ The ride-share company missed on almost every major metric except for revenue per active rider, which was $51.88 vs. the $49.94 expected. Getting into the negatives, its revenue of $1.05 billion missed expectations of $1.06 billion. Active riders fell short at 20.3 million vs. the 21.1 million expected. And adjusted earnings per share of ($1.18) missed the $0.09 expected by a wide margin. 😬 Finding traction has remained a challenge for the company, as it continues to lag behind Uber in most major categories. On top of that, Lyft recently announced it is laying off 13% of its staff as it joins many tech sector giants in cutting costs. ❌ Whether or not executives can get this car back on track remains to be seen. But for now, investors don’t appear to be waiting around. Instead, many opted to cancel their ride and send $LYFT shares down 13.72% today. ------------------------------- 📍 BULLETS 📍 ------------------------------- *Bullets From The Day* 🤝 Lidar makers combine to form a new $400 million company. The deal signed on Friday will see Ouster and Velodyne merge, creating a new company that hopes to reinvigorate itself within the autonomous-vehicle technology market. Lidar stands for “light detection and ranging” and is a sensor technology that uses invisible lasers to create a highly detailed 3-D map of the sensor’s surroundings. As a result, it’s essential for all autonomous-vehicle systems. But as auto manufacturers like Ford abandon their projects in favor of assisted-driving technologies, lidar businesses have seen their valuations plummet. 😋 Can a new treat turn Sweetgreen shares from sour to sweet? While it has sweet in its name, the company’s performance in public markets has been anything but. It’s now hoping that its healthier take on a Rice Krispies Treat, its first dessert since 2014, can help drive growth. The salad chain recently lowered its full-year outlook as it looks to pass off rising costs to consumers who are being squeezed by inflation. However, the company intends to expand its dessert offerings further, hoping for a successful launch with this first sweet treat. 🏘️ Consumers’ confidence about housing hits a new low. Rising interest rates and record-high prices have crushed housing affordability and put the brakes on that sector of the economy for most of the year. As a result, real estate-related businesses have been feeling the crunch, and many parties expect the pain to continue…including consumers. Fannie Mae’s October survey reported that just 16% of consumers said that now is a good time to buy a home. Meanwhile, 37% of consumers expect home prices to drop in the next twelve months. 🧹 Airbnb vows to clean up its pricing structure. One of the chief complaints about the online marketplace of short-term rentals is the hidden fees and costs. After years of complaints, CEO Brian Chesky said the company is refining its search to show the total price and increase user transparency. Along with this new feature, which will be out sometime next month, the company is making other efforts to help reduce the cost of cleaning and additional fees hosts charge. 💰 Hacker holds Medibank customers’ data ransom. Australia’s biggest health insurer said it would not pay a ransom to the criminal responsible for stealing 9.7 million current and former customers’ data. The country has seen a sharp rise in cyber security issues, with a recent government report suggesting there’s one attack every seven minutes. The company says that paying a ransom could encourage the hacker to extort customers directly and instead warns its customers to stay vigilant in monitoring their credit. ------------------------------- 🙏 DROP A FOLLOW FOR DAILY MARKET RECAPS ------------------------------- * Extra tags (Ignore) * #market #buildandgrow #longterm #whoknowsbutwhatthehell #justwait #buyandhold #believe #buythedip #gain #winning #cnbc #marketrecap #analysis #stocks #music #community #web3 #study #studyfirst #elections #maga #demz #rally #rallying #faithinmarkets #bigdippers #pennypinchers #stockhoardersanonymous #gains #buildandgrow #believe #longterm #buyandhold #takingachance #alittleatatime #sold #divdend #gaming
2
0
Own your future.
Build your portfolio.

All of your investing.
All in one place.

Invest in stocks, treasuries, ETFs, crypto, and alternative assets on Public. Transfer your account to Public and get up to $10,000.
Sign Up
Products
Contact Us
Check the background of this firm on FINRA’s BrokerCheck.

© Copyright 2024 Public Holdings, Inc. All Rights Reserved.

Market data powered by Xignite.

All investments involve the risk of loss and the past performance of a security or a financial product does not guarantee future results or returns. You should consult your legal, tax, or financial advisors before making any financial decisions. This material is not intended as a recommendation, offer, or solicitation to purchase or sell securities, open a brokerage account, or engage in any investment strategy.

Product offerings and availability vary based on jurisdiction.

Stocks, ETFs, Options, Bonds.
Self-directed brokerage accounts and brokerage services for US-listed, registered securities, options, and Bonds, except for treasury securities offered through Jiko Securities, Inc., are offered to self-directed customers by Open to the Public Investing, Inc. (“Public Investing”), a registered broker-dealer and member of FINRA & SIPC. Additional information about your broker can be found by clicking here. Public Investing is a wholly-owned subsidiary of Public Holdings, Inc. (“Public Holdings”). This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Public Investing is not registered. Securities products offered by Public Investing are not FDIC insured. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. Additional information can be found here.

Options.
Certain requirements must be met in order to trade options. Options can be risky and are not suitable for all investors. Options transactions are often complex, and investors can rapidly lose the entire amount of their investment or more in a short period of time. Investors should consider their investment objectives and risks carefully before investing in options. Refer to the Characteristics and Risks of Standardized Options before considering any options transaction. Supporting documentation for any claims, if applicable, will be furnished upon request. Tax considerations with options transactions are unique and investors considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy.

Options Order Flow Rebate.
If you are enrolled in our Options Order Flow Rebate Program, Public Investing will share 50% of our estimated order flow revenue for each completed options trade as a rebate to help reduce your trading costs. The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Bonds.
“Bonds” shall refer to corporate debt securities and U.S. government securities offered on the Public platform through a self-directed brokerage account held at Public Investing and custodied at Apex Clearing. For purposes of this section, Bonds exclude treasury securities held in treasury accounts with Jiko Securities, Inc. as explained under the “ Treasury Accounts” section.

Investments in Bonds are subject to various risks including risks related to interest rates, credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. The value of Bonds fluctuate and any investments sold prior to maturity may result in gain or loss of principal. In general, when interest rates go up, Bond prices typically drop, and vice versa. Bonds with higher yields or offered by issuers with lower credit ratings generally carry a higher degree of risk. All fixed income securities are subject to price change and availability, and yield is subject to change. Bond ratings, if provided, are third party opinions on the overall bond's credit worthiness at the time the rating is assigned. Ratings are not recommendations to purchase, hold, or sell securities, and they do not address the market value of securities or their suitability for investment purposes.

High-Yield Cash Account.
A High-Yield Cash Account is a secondary brokerage account with Public Investing. Funds in your High-Yield Cash Account are automatically deposited into partner banks (“Partner Banks”), where that cash earns interest and is eligible for FDIC insurance. See here for a list of current Partner Banks. Your Annual Percentage Yield is variable and may change at the discretion of the Partner Banks or Public Investing. Apex Clearing and Public Investing receive administrative fees for operating this program, which reduce the amount of interest paid on swept cash. Neither Public Investing nor any of its affiliates is a bank. Learn more.

Cryptocurrency.
Cryptocurrency trading, execution, and custody services are provided by Bakkt Crypto Solutions, LLC (NMLS ID 1828849) (“Bakkt”). Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrencies offered by Bakkt are not securities and are not FDIC insured or protected by SIPC. Your cryptocurrency assets are held in your Bakkt account. Bakkt is a licensed virtual currency business by the New York State Department of Financial Services and a licensed money transmitter, but is not a registered broker-dealer or a FINRA member. Your Bakkt Crypto account is separate from your brokerage account with Public Investing, which holds US-listed stocks and ETFs. Please review the Risk Disclosures before trading.

Treasury Accounts.
Investing services in treasury accounts offering 6 month US Treasury Bills on the Public platform are through Jiko Securities, Inc. (“JSI”), a registered broker-dealer and member of FINRA & SIPC. See JSI’s FINRA BrokerCheck and Form CRS for further information.

JSI uses funds from your Treasury Account to purchase T-bills in increments of $100 “par value” (the T-bill’s value at maturity). T-bills are purchased at a discount to the par value and the T-bill’s yield represents the difference in price between the “par value” and the “discount price.” Aggregate funds in your Treasury Account in excess of the T-bill purchases will remain in your Treasury Account as cash. The value of T-bills fluctuate and investors may receive more or less than their original investments if sold prior to maturity. T-bills are subject to price change and availability - yield is subject to change. Past performance is not indicative of future performance. Investments in T-bills involve a variety of risks, including credit risk, interest rate risk, and liquidity risk. As a general rule, the price of a T-bills moves inversely to changes in interest rates. Although T-bills are considered safer than many other financial instruments, you could lose all or a part of your investment. See Jiko U.S. Treasuries Risk Disclosures for further details.

Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value.

Banking services and bank accounts are offered by Jiko Bank, a division of Mid-Central National Bank.

JSI and Jiko Bank are not affiliated with Public Holdings, Inc. (“Public”) or any of its subsidiaries. None of these entities provide legal, tax, or accounting advice. You should consult your legal, tax, or financial advisors before making any financial decisions. This material is not intended as a recommendation, offer, or solicitation to purchase or sell securities, open a brokerage account, or engage in any investment strategy.

Commission-free trading refers to $0 commissions charged on trades of US listed registered securities placed during the US Markets Regular Trading Hours in self-directed brokerage accounts offered by Public Investing. Keep in mind that other fees such as regulatory fees, Premium subscription fees, commissions on trades during extended trading hours, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Public’s Investing’s Fee Schedule to learn more.

Fractional shares are illiquid outside of Public and not transferable. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see our Fractional Share Disclosure to learn more.

Investment Plans. US members only. Investment Plans (“Plans”) shown in our marketplace are for informational purposes only and are meant as helpful starting points as you discover, research and create a Plan that meets your specific investing needs. Plans are self-directed purchases of individually-selected assets, which may include stocks, ETFs and cryptocurrency. Plans are not recommendations of a Plan overall or its individual holdings or default allocations. Plans are created using defined, objective criteria based on generally accepted investment theory; they are not based on your needs or risk profile. You are responsible for establishing and maintaining allocations among assets within your Plan. Plans involve continuous investments, regardless of market conditions. Diversification does not eliminate risk. See our Investment Plans Terms and Conditions and Sponsored Content and Conflicts of Interest Disclosure.

Market Data. Quotes and other market data for Public’s product offerings are obtained from third party sources believed to be reliable, but Public makes no representation or warranty regarding the quality, accuracy, timeliness, and/or completeness of this information. Such information is time sensitive and subject to change based on market conditions and other factors. You assume full responsibility for any trading decisions you make based upon the market data provided, and Public is not liable for any loss caused directly or indirectly by your use of such information. Market data is provided solely for informational and/or educational purposes only. It is not intended as a recommendation and does not represent a solicitation or an offer to buy or sell any particular security.