Better Than We Thor-t

Investor relations departments are the silent heroes of a public company, receiving little recognition for the critical role they play. When they do receive a lot of attention, it’s generally not for good reason. That’s unfortunately what Lyft’s team is finding out today. 😵‍💫

After the bell, ridesharing company Lyft reported fourth-quarter results that were good, not great. But the stock immediately shot up and notched as high as a 60% gain before anyone realized what happened. Did the company just invent a cure for rare diseases? Are they pivoting to crypto or semiconductors? What was the cause of this?

It’s another day, which means investors and traders were buying anything in the semiconductor space that isn’t tied down. Let’s see what you missed. 👇

First up, chip-equipment company Applied Materials soared to new all-time highs after citing “artificial intelligence” momentum during its earnings call. Adjusted earnings per share and revenues both topped expectations, while its current-quarter expectations also beat estimates. 🏭

Neobanks that came public during the pandemic at insane valuations and got crushed over the last few years are roaring back in the current environment. 🏦

Dave Inc. is a digital banking service primarily focusing on cash advances, working off tips and subscription fees rather than overdraft fees. That was a solid business in the ZIRP era of cheap money but faced a reckoning in a higher interest rate environment. 💸

Once companies discovered that membership and loyalty programs drove additional customer visits and spending, there became apps for everything. Trust me, I’ve got the McDonald’s app on my phone because I get free fries or something with my occasional purchase… 📱

Nonetheless, this shit clearly works, and everyone wants a part of it. Given Target’s recent struggle, it’s not surprising that it’s jumping on the bandwagon as part of its turnaround strategy.