A Good Week for Sports Betting
The market seemed to be enjoying less uncertainty, at least for now. — More on that in the “Overall Market” section.
Beyond the overall market, investors celebrated the rise of internet TV and punished a stock for a lower than expected forecast. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, the election was a win for sports betting stocks. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: Stock market indices ended Friday in disagreement, although it was a good week for the market overall. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price hovered above the $15,000 level.
How Rob Booker turned $2,500 into over $18M
Rob Booker just dropped an incredible briefing. It’s starting soon, so don’t wait! Your trading account can’t afford for you to miss it!
Click here to watch now!
(By clicking you agree to receive email updates and special offers from Daily Profit Publishing)
Market Liked Less Uncertainty
Stock market indices ended Friday somewhat flat, and then came the presidential election’s results during the weekend. The question everyone wants to know is where the market is headed next week between now and the inauguration day. Some believe that less uncertainty means a better outcome for the markets. The futures’ market on Sunday indeed showed signs of that. However, there are still too many causes for concern. More than 10 million people are unemployed, and the COVID-19 pandemic and its impact on the economy and society are still around us. For now, it seems the market likes less uncertainty.
So what happened?
Shares of The Trade Desk Inc (Ticker: TTD) were up by more than 26% on Friday. The company’s platform enables brands to run advertisements on the so-called internet TV. The company announced its latest quarterly earnings. It seems digital advertisements beyond Google and social media ads have taken off, and the Trade Desk’s stock price has rallied with it.
Who Else Wants “The Trade of the Century”?
“If you do nothing else to protect your financial future…
I urge you to set aside a little time and attend what is already considered…
The biggest financial event of the year!”
RSVP Here Now
So what happened?
Shares of Alteryx Inc (Ticker: AYX) were down by more than 20% on Friday. The company announced its latest quarterly earnings report. The provider of self-serve analytics software had a stellar quarter. However, its forecast for the next quarter wasn’t as good as its last quarter. In response, investors sent the stock price tumbling. This is not the first time that this has happened. The same thing happened last quarter, and the stock managed to recover from it. It seems Alteryx investors never learn.
Sports Gambling Stocks Won Too
So what happened?
Last week we discussed that the election was a win for several cannabis investors as Arizona, New Jersey, South Dakota, and Montana voters ended their marijuana prohibition. Similarly, the election was a win for sports gambling stocks. Maryland, Louisiana, and South Dakota legalized sports betting, and companies such as DraftKing (Ticker: DKNG) had a good week in response to a more significant market opportunity.
If you have any questions, or suggestions let us know by emailing us at [email protected]. We look forward to hearing from you.