Adaptable Uber Has Managed to Stay in the Game - Here s an Earnings Trade Idea Uber has now said that demand for the ride hailing service is recovering faster than driver availability. Stocks quotes in this article: UBER, LYFT
If anything, Uber Technologies (UBER) has shown throughout this pandemic an ability to adapt to changing environments. From an evolving focus on what businesses are working to sharp execution in cost controls (Saved over $1 billion in fixed expenses last year.), this is one reopening play that has managed to stay in the game throughout the pandemic. I will tell you flat out that I had always preferred an actual taxi cab to an Uber, and a year ago, I never would have expected to use Uber Eats in order to eat out while remaining in. The pandemic changed all of that. I would definitely refer to my family as heavy users of the Uber Eats app.
Liquidity Dries Up and Small-Caps Are Slammed There is some very ugly action under the surface.
Apr 12, 2021 | 10:55 AM EDT
The S&P 500 and DJIA are down slightly this morning, but they are covering up some very ugly action under the surface. Many stocks have been bidless recently, and groups like biotechnology and cannabis are in full-fledged bear markets.
What the indices are not reflecting is the number of stocks that are taking very hard hits. Thirty minutes after the open, there were about 30 stocks that were up 4% or more and over 220 that were down 4% or more. Currently, there are only about 12 stocks up more than 10%, and breadth is running 2 to 1 negative.
Building Back Trust
Financial institutions woo wary millennial customers by sharing their values and providing a personal touch.
It may come as no surprise that millennials are skeptical of financial institutions. Hefty student loans mean that many adults between the ages of 24 and 39 have come into large amounts of debt, even before they join the workforce.
Millennial activists were primary drivers of the Occupy Wall Street demonstrations in the wake of the 2008 financial crisis. As working people struggled, millennials saw large financial institutions receive government bailouts and few penalties for reckless behavior.
Recently, young people made a newsworthy splash in the financial world with the digital-trading app Robinhood. By trading shares with one another, Robinhood users were able to drive up stock prices for video game retailer GameStop, a company that suffered substantial losses due to COVID-19 restrictions.
The Rolling Correction Is Rolling Along This market is not nearly as strong as it looks.
You wouldn t know it from looking at the indices or listening to traditional financial media but the market has been undergoing a rotational correction for months and it is picking up some traction today.
The easiest way to see what is going on is to compare the charts of biotechnology (XBI) , cannabis (MJ) , and the ARK Innovation ETF (ARKK) with the S&P 500 (SPY) . At the same time, SPY is hitting new all-time highs and looks extended. ARKK is down about 24% from its high, the cannabis ETF has fallen 38%, and biotechnology is down about 28% in two months which qualifies as technical bear markets for all three sectors.