Analysts Pump Two Tech Stocks

Two tech stocks jumped today on analyst action early in the day. 👍

First up is Fastly, which received a rare “double upgrade” from a Bank of America analyst. Tal Liani noted that the company’s core technology and new management could allow it to achieve profitability next year. As a result, he upgraded the stock from “underperform” to “buy.” 

$FSLY shares rose 28%, marking their largest percentage gain in about three years. 😮

Next is ContextLogic, better known as Wish. The struggling e-commerce platform jumped after Citron Research posted several bullish tweets about the stock following the Super Bowl. 🐦

Chinese -e-commerce giant PDD took out ads for its Temu U.S. shopping site during the Super Bowl, which sparked the flurry of tweets from Citron. They noted they were “reluctant to mention $WISH” but that Temu’s recent traction using the same business model has created the “most asymmetric opportunity in the market.”

They argue that if this business model is going to work, $WISH is being very mispriced by the market. It has a lot of cash on hand, no debt, and a $280 million credit line available. That should give it plenty of time to execute on the longer-term business opportunity. 📈

Whether or not they’re right remains to be seen. But some technical analysts pointed to today’s 37% rally in $WISH shares could be the start of a potential long-term trend reversal. 🤔

FanDuel Parent Lists On NYSE

The U.S. “degenerate economy” is getting its latest entrant, with FanDuel parent company Flutter Entertainment making its debut on the New York Stock Exchange (NYSE) today. 🤩

With that said, the company did not receive the traditional fanfare it would in a standard initial public offering (IPO). That’s because it was listed on the London Stock Exchange (LSE) in May 2019, and its American depository receipts (ADR) have traded over the counter under the ticker $PDYPY for years.

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Peloton’s New Partnership

With Peloton’s turnaround strategy not yet bearing the fruit it had anticipated, the company continues to lean on partnerships to grow market share. For example, in September, the company entered a 5-year strategic partnership with Lulemon to bring its content to the athleisure brand’s exercise app. It also made Lululemon Peloton’s primary athletic apparel partner. 👟

It’s still too early to tell whether or not that cooperative effort is working, but management seems to think further initiatives like it will help boost revenues. As a result, it’s partnering with TikTok to bring short-form fitness videos and other content to the social media platform.

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Biotech Buyout Spree Continues

It may be the last week of the year, but many companies are rushing to get deals done before year-end. Two significant transactions in the biotech space were announced today, so let’s dive in. 👇

The first deal involves RayzeBio, which raised $358 million via an initial public offering (IPO) just three months ago. However, its time as a public company is being cut short by Bristol Myers Squibb, which is acquiring the radiopharmaceutical therapeutics company for $62.50 per share in cash. 💰

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Boeing Loses Altitude (Again)

If you’re an investor in airlines or airplane manufacturers, this is not the type of headline you want to wake up to. Unfortunately for Boeing and several others, the news is not great. So let’s dig into it. 👇

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