Robinhood Is Now a Meme Share, ADP Perplexes, Oil Drops
Yesterday was rich in all sorts of events and new information. Let's start, perhaps, with the loudest one: the growth of Robinhood shares by some unrealistic 65% in the first minutes of trading. Recall that this is the same Robinhood, which went public last week and which turned out to be one of the most disastrous in terms of the results of price dynamics for companies of this size.
What happened to the company in the last couple of days? By and large, nothing. Katie Woods with her ARK bought a fairly large block of shares, but, perhaps more importantly, the share was actively dispersed on Reddit. Looks like retail investors have found new fun to replace GameStop and AMC and its name is Robinhood. At least HOOD is the number one ticker on WallStreetBets Swaggy Stocks tracker.
What does this all mean? That there was a great opportunity to earn money. Such ups are a great opportunity for more expensive and quick sales, and most importantly - guaranteed earnings. At least the experience of other meme-actions speaks about this. Common sense also speaks in favor of this: the current price / sales multiplier for the company is above 50 (!). For comparison, a very expensive and overbought Apple has less than 9.
From the more global news of yesterday, it is worth noting the disastrous US employment data from the ADP. Naturally, they failed in relation to market expectations (growth was predicted by 695K, but in fact it was 330K), because + 330K is an excellent result. On the other hand, the data on the indices of business activity in the US in the service sector were unambiguously positive: the ISM Services index as a whole and in the context of its components turned out to be higher than expected and previous values.
US oil inventories unexpectedly dropped last week, according to official data. Oil, which was already feeling unwell this week, has received a serious hole and may go to the bottom. The key to failure is a combination of an increase in oil production from OPEC + amid a new wave of the pandemic.
Today is interesting primarily by the results of the meeting of the Bank of England. Monetary policy parameters are likely to remain unchanged. But in any case, the comments and assessments of the Central Bank are extremely important for the British pound.
What happened to the company in the last couple of days? By and large, nothing. Katie Woods with her ARK bought a fairly large block of shares, but, perhaps more importantly, the share was actively dispersed on Reddit. Looks like retail investors have found new fun to replace GameStop and AMC and its name is Robinhood. At least HOOD is the number one ticker on WallStreetBets Swaggy Stocks tracker.
What does this all mean? That there was a great opportunity to earn money. Such ups are a great opportunity for more expensive and quick sales, and most importantly - guaranteed earnings. At least the experience of other meme-actions speaks about this. Common sense also speaks in favor of this: the current price / sales multiplier for the company is above 50 (!). For comparison, a very expensive and overbought Apple has less than 9.
From the more global news of yesterday, it is worth noting the disastrous US employment data from the ADP. Naturally, they failed in relation to market expectations (growth was predicted by 695K, but in fact it was 330K), because + 330K is an excellent result. On the other hand, the data on the indices of business activity in the US in the service sector were unambiguously positive: the ISM Services index as a whole and in the context of its components turned out to be higher than expected and previous values.
US oil inventories unexpectedly dropped last week, according to official data. Oil, which was already feeling unwell this week, has received a serious hole and may go to the bottom. The key to failure is a combination of an increase in oil production from OPEC + amid a new wave of the pandemic.
Today is interesting primarily by the results of the meeting of the Bank of England. Monetary policy parameters are likely to remain unchanged. But in any case, the comments and assessments of the Central Bank are extremely important for the British pound.
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