The Semiconductor Crunch Is $ON

Network provider Cloudflare is surging after the bell following better-than-expected results. 📝

The company’s adjusted earnings per share of $0.15 on $362.50 million in revenues topped estimates of $0.12 and $353.10 million. YoY revenue growth of 32% was consistent with its third quarter, while its GAAP net loss narrowed significantly from the year prior.

The current market environment has not been kind to renewable energy stocks like electric vehicle makers or solar manufacturers. And that trend continued today with lackluster earnings results. 👎

Rivian kicked it off by saying that it’s laying off 10% of its workforce due to EV pricing pressures. Although it built and shipped more than double the vehicles it did in 2022, its 2023 losses still totaled more than $5.40 billion. 🪫

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. 💸

The return of “left for dead” stocks continues as investors look for opportunities in the market beyond the “magnificent seven.” 🔍

Carvana is an excellent example of this turnaround story in action, with the stock posting its first-ever annual profit and catching several analyst upgrades. 💪