917 days ago
The Nasdaq's forward P/E is off its recent 41.6 high
After a forward P/E of 41.6, the Nasdaq went back down to 32. Although lower, it still has some way down to go, according to many analysts. Source: Liz Ann Sonder , Bloomberg
917 days ago
Alert: climate disasters will triple for the next generation
According to a recent paper, people born in 2020 will see 7 times more heatwaves than their boomer grandparents, 3.6 times more droughts, and 3 times more crop failures and river floods. Source: Thiery et al. (2021), Statista
917 days ago
Ark is selling Tesla shares after its outperformance
Cathie Wood sold nearly $270 million worth of Tesla shares as the bond sell-off is hitting rate-sensitive stocks. Wood’s Ark Investment Management offloaded more than 340,000 Tesla shares across three exchange-traded funds on Tuesday, according to the firm’s daily trading update. Some 11% of the famous ARK Innovation ETF (ticker ARKK) is still betting on Elon Musk’s company. Source: Bloomberg
918 days ago
Bad news for Peloton as Amazon debuts a rival fitness service
Shares of Peloton Interactive Inc. declined on Tuesday following the news that Amazon is launching Halo Fitness, a service to rival Apple and Peloton. The stock ended the trading session down 4.6%, its lowest level in four months. Source: Bloomberg
918 days ago
This surge of Treasury yields is kryptonite for the Nasdaq
If the sell off in technology stock has already been bad, it will likely worsen if U.S. Treasury yields keep rising. This fear helped fuel a 2.9% drop in the Nasdaq stock index on Tuesday. The faster-growing companies are more sensitive to interest rates than others because their stock valuations hinge on revenue and profit that’s not expected to emerge for years. In order to value these stocks, analysts use bond yields to discount future earnings into present dollars. And the higher yields go, the less valuable future profits appear. Source: Bloomberg
