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U.S. Retailer Express Files For Chapter 11 Bankruptcy Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Monday, April 22, 2024
Today's Winners and Losers
The Friday, April 19, 2024 sell-off cost the Nasdaq (QQQ) a 2.26% loss and the S&P 500 (SPY) a 1% drop on the day. This widens the winners and losers, measured by share price change.
Trump Media (DJT) added 10% on the week. It has weak fundamentals, with insufficient revenue to justify its $4.9 billion market capitalization. The firm complained to the exchange about short-selling manipulation. Avoid DJT stock.
In the streaming sector, Paramount (PARA) is a winner again. Rumors circulated that Sony (SONY) would back Apollo (APO) in buying the firm.
Avoid SONY stock as the downtrend continues. The stock is just 2% above its 1-year low.
Neutral on Automotive
Ford (F) is stuck at the $12.00 level. It is neither a buy nor a sell, as vehicle recalls continue to add costs and hurt its brand. Ford and General Motors (GM) are both pivoting away from the EV market. Without generous government subsidies, consumers are unwilling to buy EVs.
Losers
Li Auto (LI), a Chinese EV firm, is a stock losing money for investors. It lost half its value very quickly.
Despite posting solid results, Netflix (NFLX) is a losing holding. It is no longer reporting subscription data. This weakens shareholder confidence in the streaming giant.
Besides Nvidia (NVDA) and SMCI down recently, be wary of holding Celestica (CLS). A slowdown in AI spending hurts Celestica's growth.
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