Yesterday’s Movers:
- Tilray Inc (TLRY) was up 15.61% as the Republicans push the marijuana legalization bill
- Nikola Corporation (NKLA) was up 10.50% thanks to the infrastructure bill
- Peloton Interactive Inc (PTON) was down 7.86% as revenue guidance fell way below expectations
- Plug Power Inc (PLUG) was up 6.70%
Earnings Due Today:
- Palantir Technologies Inc PLTR
- Plug Power Inc PLUG
- Wynn Resorts WYNN
- Coinbase Global Inc COIN
Stocks to watch: Meta Platforms Inc (Facebook)
Facebook, now known as Meta Platforms, has had a rocky few weeks. CEO Mark Zuckerberg has been publicly responding to concerns that his company’s apps negatively affect users’ mental health. He has also been working on the company’s rebranding strategy, following its recent expansion into VR technology.
The previous quarterly results were mixed. Earnings beat expectations. However, revenue was half a billion dollars lowered than expected. With regards to technical analysis, the stock price may move higher, following a break from the 50-day moving average. However, there may also be a slight retracement lower before the continuation kicks in.
This article was brought to you in collaboration with TD Markets.
