Retail Favorites’ Mixed Day

It was a mixed day for several of retail investors’ favorite stocks. Let’s see what’s moving. 👀

First up is Canadian Solar, which reported mixed second-quarter results and reaffirmed its full-year 2023 outlook. However, its third-quarter revenue forecast of $1.9 to $2.1 billion lagged the $2.5 billion consensus estimate. $CSIQ shares fell 13% as the solar industry remains under pressure. 🌩ī¸

$AMC and $APE shares continued to fall ahead of this week’s corporate events.

On Thursday, AMC common shares will undergo a 10-for-1 reverse stock split, and on Friday, the company’s APE units will be converted to common shares. Many investors had anticipated the gap in share price would’ve closed by APE units rising, but instead, AMC shares are falling to reflect the impact of their coming dilution. 📊

And lastly, Vietnamese electric vehicle maker VinFast’s wild ride continues, with the stock rising more than 100% today. The surge in price brings its market cap back above $84 billion, making it larger than General Motors, Ford, and China’s BYD.

Time will tell if the company’s underlying fundamentals can grow into that valuation, but for now, the stock remains volatile as the “price discovery” process continues. 🤷

Sphere Entertainment Comes Full Circle

Premier live entertainment and media company Sphere Entertainment made headlines this weekend with the opening of its Las Vegas venue. 😮

The Sphere is a “next-generation entertainment medium” where people experience a fresh take on live entertainment in its dome-shaped arena with wall-to-wall video screens. And it debuted this weekend in Las Vegas with a performance from the rock band U2 on both Saturday and Sunday.

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Lululemon Gets The “Passive” Pop

With Microsoft’s acquisition of Activision Blizzard officially complete, the S&P 500 needs to replace it with another stock. And this time, that stock is Lululemon. 🤩

The athleisure retailer saw shares jump more than 10% today, reacting to Friday’s after-hours news that it would be added to the index before the market opens on October 18, 2023.

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In Amazon We Don’t Trust

The Federal Trade Commission (FTC) and 17 states are suing Amazon in a landmark monopoly case that could change the future of “big tech” companies as we know them. 🧑‍⚖ī¸

The 172-page complaint alleges Amazon unfairly promotes its own platform and services at the expense of third-party sellers who use its e-commerce marketplace for distribution. Despite the unfair practices, the company’s dominance in e-commerce gives sellers little choice but to accept its terms. And that ultimately results in higher prices and a worse consumer experience. 📝

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Volkswagen Fails To Compete

It’s been a rough year for automakers, which continued today with Germany’s Volkswagen. 😨

The automobile company owns several brands, including Porsche, Audi, and its original brand, Volkswagen. However, the company’s CEO told staff at an internal meeting that its original brand is “no longer competitive” and that cuts are coming.

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