A 30% Drop in Only One Week?

“You can be young without money, but you can’t be old without it.” ~ Tennessee Williams

Dear Trader,

Welcome to today’s edition of Wall Street Connected.

Recent trading days have marked a short-term decline in many China-based electric vehicle companies, Workhorse Group Inc (WKHS) in particular.

Currently ranking #11 in surging traffic by billionaires, Workhorse Group Inc (WKHS) was down nearly 23% this morning after reporting another USPS decision delay.

Workhorse Group Inc (WKHS) has dropped 30% in the past five trading sessions. Another popular electric vehicle stock amongst traders and investors based out of China is Kandi Techs Group (KNDI), which has dropped 50% in the past five trading days.

A bright industry in markets has been internet retail as consumers continue to shop from home through the COVID-19 pandemic.

Internet retail is ranking #7 on top searched industries by billionaires as the industry has seen minimal volatility, led by Amazon (AMZN) which recently announced plans to continue to expand its business both domestically and internationally.

TrackStarIQ Data

Here are some highlights from FA searches this week:

RANKTOP SEARCHES BY FAs (Surging Traffic) This Week [STOCKS]TOP SEARCHES BY FAs w/ AUM>$1B (Surging Traffic) This Week [STOCKS]TOP INDUSTRY SEARCHES BY FAs (Surging Traffic) This Week [EQUITIES]TOP INDUSTRY SEARCHES BY FAs w/ AUM>$1B (Surging Traffic) This Week [EQUITIES]
1AMNLIWSYIndustrial organic chemicals, miscBiotechnology
2ODPLCATextile Mill ProductsAuto Manufacturers
3HRVSFIGCFloor laying and floor work, miscSoftware – Application
4SPOTSOLOBook publishingDrug Manufacturers – Specialty & Generic
5EARSWFCTrusts, miscConsumer Electronics
6TSCRFNBACServices-Computer Programming, Data Processing, Etc.Conglomerates
7PLYZYJSemiconductors and related devicesInternet Retail
8GZICFSRMedicinal and botanicalsInternet Content & Information
9SPCBFTEKStaffing & Employment ServicesSoftware – Infrastructure
10VNDAIDEXFarm ProductsDiagnostics & Research
11ETFMWORKBusiness services, miscSemiconductors
12RDGLENZBeverages – Non-AlcoholicElectrical Equipment & Parts
13KPTIOMERComputer HardwareSpecialty Retail
14CUEFUBOCustom computer programming servicesAuto Parts
15UMICYNIUSecurity & Protection ServicesCredit Services
16CBDDBCLILeisureSpecialty Chemicals
17RWLKSPCERecreational VehiclesOil & Gas E&P
18SURFQEPCMiscellaneous Manufacturing IndustriesMedical Devices
19GBAPXTDiscount StoresAerospace & Defense
20PRMWLMPXCrude petroleum and natural gasCommunication Equipment

What We’re Reading:

  1. Vaccine optimism continues to rise as, and the U.K. is now the first country to approve a Pfizer-BioNTech Covid-19 vaccine. Check it out…
  2. Salesforce (CRM), the global leader in CRM and Slack Technologies Inc (WORK) have entered an agreement in which Salesforce will acquire Slack in a $27.7B deal. Full Story…
  3. Having traded sideways through most of November, the Nasdaq has seen a recent rally as demand for owning tech stocks has increased into December. Here’s why…

What We’re Watching:

In a market driven by catalysts and fundamental analysis, technical analysis has become overlooked by many traders and investors…

But it’s a key ingredient to being a successful trader or investor.

Take a technical look at the S&P 500 and the Nasdaq.

-InvestingChannel

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