Market Recap – December 23rd
Stocks fell greatly on Thursday in light of new economic data revealing worries about the Federal Reserve’s attempts to battle inflation. Looking at some specific investments driving this trend, we’re watching AMC and Tesla. AMC Entertainment saw a 14.8% drop in shares after announcing a reverse stock split and a $110 million capital raise to reduce debt. However, shares of its preferred stock saw a significant increase of over 64%. Tesla’s shares declined by over 9% during Thursday’s trading. The company is currently offering a $7,500 discount on Model 3 and Model Y vehicles delivered in the United States by the end of the year, as well as 10,000 miles of free supercharging for these vehicles, according to its website.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
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.