Market Recap – January 20th
All indexes managed to make it in the green today with the S&P, NASDAQ, and DOW all up a bit over 0.50%. Overall, the market appears to be trying to rebound but not seeing much luck. Looking at some specific investment we’re watching Peloton and Microsoft. Yesterday Peloton’s stock crashed 22% upon news that it would temporarily halt production of its bikes and treadmills as a result of lacking consumer demand. Shares dipped below Peloton’s September 2019 IPO price of $29. Microsoft is also making major moves with its acquisition of Activision – the gaming company. As of now, Wall Street is projecting revenue of $50.9 billion for its fiscal second quarter, with profits of $2.31 a share. Microsoft’s involvement in the Metaverse is indeed boosting analyst outlook.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.