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😱 E-commerce Gamechanger: Amazon is heading to Court!
Our top stories this week include Amazon's anti-trust legal showdown and a heap of EV developments. We've also got a rundown of all the top movers and shakers, and much more investing intel...
Market Snapshot (Past Week)
S&P500: 4,288.05 (-0.52%)
Dow Jones Industrial Average: 33,507.50 (-1.18%)
NASDAQ Composite: 13,219.32 (+0.36%)
Russell 2000: 1,785.10 (0.93%)
S&P/TSX Composite index: 19,541.27 (-0.97%)
PHLX GOLD and SILVER SECTOR: 107.48 (-5.65%)
News from the last 7 days
In the past week, various events have made the headlines amid volatile market conditions. The e-commerce landscape could be changing, electric vehicle demand is under pressure and Tesla has its sights on China. Meanwhile, the US Congress keeps the government running, averting a shutdown until November 17, while financial markets increasingly accept that higher global interest rates aren't going anywhere.
Here’s a rundown of some of the rest of our top stories:
👨🏻⚖️ Could Amazon’s Anti-Trust Issues Cause E-commerce Earthquake
A groundbreaking antitrust lawsuit has been filed against Amazon. The complaint accuses the e-commerce giant of abusing its monopoly power. This lawsuit could have far-reaching implications for Amazon and the entire e-commerce industry, potentially unseating the undisputed leader of the sector. Therefore, keeping an eye on this legal battle is crucial for retail investors who want to understand who the next e-commerce winners might be.
🚗 VW Scales Back EV Production as EU Demand Wanes
Volkswagen (OTC: VWAGY) is cutting back on electric vehicle (EV) production at two major German plants. Several factors, including rising living costs and consumer concerns about charging infrastructure, have contributed to the decline in European EV demand. Do investors need to reconsider backing EV brands considering their problems on the continent, or is the space’s long-term growth assured?
🇨🇳 Tesla Revamps Model Y to Outmaneuver Local Competitors in China
Tesla is making strategic updates to its electric vehicles, adjusting pricing, and leveraging federal tax credits to strengthen its position in a competitive market. While the company navigates challenges like production downtimes and inflation, it offers retail investors various angles for opportunity assessment, risk evaluation, and long-term strategy insights.
🤔 Are Retail Investors Paying Enough Attention to High Interest Chaos?
Rising corporate debt defaults and sustained high interest rates are rattling the financial markets, posing various risks like asset revaluation and credit risk that retail investors should pay attention to. Factors such as global exposure, the stability of banks, and interest rate sensitivity also contribute to a complex investing landscape. Higher for longer interest rates and company challenges mean retail investors should watch their investments closely.
📈 Top 5 gainers in last 7 days
Disregarding stocks like Fathom Digital Manufacturing Corporation FATH 0.00%↑ and Curis, Inc CRIS 0.00%↑, which have seen their share prices soar courtesy of reverse stock splits, here are last week’s top gainers:
Immunovant, Inc IMVT 0.00%↑ - $38.39 (+88.28%) - This clinical-stage drug development outfit saw its share price soar last week as data from a study into its IMVT-1402 antibody treatment beat onlookers’ expectations.
Vaccitech PLC VACC 0.00%↑ - $3.09 (+83.93%) - This stock rocketed after positive coverage from Alliance Global Partners drew investor attention, generating excitement about the biotech outfit’s treatment candidates.
Intercept Pharmaceuticals Inc ICPT 0.00%↑ - $18.54 (+76.91%) - This liver disease drugmaker saw its share price climb following the announcement it will be acquired by Italian pharmaceutical company Alfasigma for $794m.
Torrid Holdings Inc CURV 0.00%↑ - $2.21 (+72.66%) - This fashion retail chain soared on the back of solid earnings, with some investors clearly thinking the stock is a bargain after having declined by more than 50% across the year to date.
Chico’s FAS Inc CHS 0.00%↑ - $7.48 (+69.62%) - Another fashion retailer sneaks into the top five too, with Chico’s rising on the news that it will be taken private by Sycamore Partners in a $938.1m deal.
Note: Figures from StockAnalysis.com - Settings: Market Cap > $100M, Stock Price > $1, Period last 7 Days. All prices are correct as of pre-market on 25 September.
📉 Top 5 losers in the last 7 days
American Oncology Network Inc AONC 0.00%↑ - $9.30 (-47.64%) - This drop in share price came as institutional investors bailed out of the business, seriously undercutting investor confidence.
Cheche Group Inc CCG 0.00%↑ - $10.69 (-45.24%) - This relatively new fixture on the NASDAQ saw its share price dip as it dropped back from its enormous debut price.
MicroAlgo Inc MLGO 0.00%↑ - $2.86 (-40.17%) - Having soared the week before, the last seven days have seen this business settle back down as interest in its online search algorithm technology cooled.
NextEra Energy Partners, LP NEP 0.00%↑ - $29.70 (-39.19%) - This business, a subsidiary of the huge NextEra Energy, Inc., tumbled following major cuts to dividend outlook. This has damaged the mothership too, with NextEra Energy Inc shares falling by 14.77% across the full week.
Jaguar Global Growth Corporation I JGGC 0.00%↑ - $5.75 (-38.17%) - This outfit has been in the red following the announcement of shareholder approval for its business combination with architectural media glass designer GLAAM. The new business, which will sport the cunning moniker of “Captivision”, is not sparking excitement among investors yet.
Note: Figures from stockanalysis.com - Filters: Market Cap > $100M, Stock Price > $1, Period Last 7 Days. All prices are correct as of pre-market on 25 September.
Stocks Trending on Google Search
Here are some of the top stocks trending in Google Search in the past week, aside from those already covered like Immunovant Inc IMVT 0.00%↑:
Transcode Therapeutics Inc
Share Price: $0.50
Weekly Change: -61.91%
Google Search Interest: +900%
At the other end of the scale, Transcode Therapeutics saw its share price more than halved after taking advantage of share price growth to raise equity earlier in the week. Make hay while the sun is shining and all that.
Share Price: $2.70
Weekly Change: +145.45%
Google Search Interest: +650%
Bionomics is attracting attention too. The company’s share price climbed after analysts at HC Wainwright decided to back the stock due to strong data surrounding its in-development PTSD treatment.
United Natural Foods Inc
Share Price: $14.14
Weekly Change: -23.73%
Google Search Interest: +400%
This wholesale food distributor has seen its share price take a major hit over the last week, with the decline coming as earnings missed expectations and guidance failed to impress. Additionally, CEO Sandy Douglas warned of “further headwinds”. As a general rule, investors are not major fans of headwinds.
Costco Wholesale Corporation
Share Price: $564.96
Weekly Change: +0.98%
Google Search Interest: +200%
Costco, famous for selling large quantities of everything from HUGE warehouse stores, impressed investors this week after beating profit and revenue estimates with its most recent earnings. Investors could do a lot worse than this steady retail stock.
Share Price: $5.05
Weekly Change: +16.36%
Google Search Interest: +140%
Finally, exercise tech brand Peloton attracted attention with a new five-year partnership deal with Lululemon. This collaboration will see a crossover between the two companies’ fitness apps, bringing many potential new users to Peloton. It looks like a savvy move for a company which has seen its share price crater across the year to date. Find out more in our full report.
Alternate Investing Signals
Usual suspects such as NVIDIA NVDA 0.00%↑, Tesla TSLA 0.00%↑ , C3.ai AI 0.00%↑ and Apple AAPL 0.00%↑ have been generating chatter on the internet’s most influential retail investor forum. But what are this week’s surprise entries?
Rivian Automotive Inc
This EV-maker provoked debate as users argued about the stock’s true value. Many users are convinced that RIVN stock remains seriously undervalued compared to industry peers due to its significant sales. However, others are convinced the stock will be squeezed out by competition from established auto-makers and expanding Chinese EV specialists.
AdvisorShares Pure US Cannabis ETF
This cannabis ETF has attracted discussion following President Biden’s assertion that nobody should be imprisoned for marijuana possession. This has fueled optimism that Washington is continuing to push for more widespread legalization and decriminalization of cannabis, creating opportunities for businesses that sell the drug. However, sceptics contend that Biden is merely pandering and wants to see more in the way of action before throwing their weight behind the ETF.
👨🏻⚖️ Finally, FTX founder Sam Bankman-Fried is about to have his day in court in what should be a momentous trial. The Guardian’s Victoria Bekiempis has everything you need to know here.