“Happiness is not the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” ~ Franklin D. Roosevelt
Welcome to today’s edition of Wall Street Connected.
Shares of a streaming platform stock have been making parabolic moves lately, and it’s not Netflix.
Headquartered in New York, FuboTV Inc (FUBO) is a streaming platform with more top Nielsen-ranked sports, news and entertainment platforms than any of its competitors.
FuboTV offers subscription-based services through which it provides basic plans that allow users the flexibility to to purchase add-ons and features they prefer.
This means well-established streaming platforms such as Netflix, Amazon Prime and Hulu have a new competitor in their marketplace, and based on FUBO’s recent price action, it would appear that financial professionals know that.
After rising as much as 26% per day in December’s trading sessions due to positive press releases, FUBO received a surprising downgrade from BMO capital, which led to a 24% decrease in the stock price.
It may come as no surprise that FUBO received potentially record-high attention from financial professionals last week, which could explain why the stock is ranking #7 on top searched stocks.
While FUBO is a “new normal” stock due to the stay-at-home mandates and measures which were implemented in 2020 due to COVID-19, parabolic moves on similar companies have taken place in recent months as well.
In a world in which physical retailers have struggled, we’ve seen internet retailers take over the mindsets and spending habits of consumers.
A popular internet retail name in is Amazon (AMZN), and consumer demand for using this company’s services can be reflected by the stocks 50%+ increase in price-per-share over the last year.
We’ve noticed consistent growth in the sentiment of the internet retail industry amongst financial professionals in recent months, and it is ranking #2 in top industry searches by FAs last week.
Click to view highlights from FA searches this past week…
|RANK||TOP SEARCHES BY FAs (Total Traffic) Previous Week [STOCKS]||TOP SEARCHES BY FAs w/ AUM>$1B (Total Traffic) Previous Week [STOCKS]||TOP INDUSTRY SEARCHES BY FAs (Total Traffic) Previous Week [EQUITIES]||TOP INDUSTRY SEARCHES BY FAs w/ AUM>$1B (Total Traffic) Previous Week [EQUITIES]|
|2||BNGO||ZOM||Internet Retail||Drug Manufacturers – Specialty & Generic|
|3||AAPL||IWSY||Software – Application||Prepackaged software|
|4||TSLA||ACY||Diagnostics & Research||Rental & Leasing Services|
|5||OCGN||WFC||Auto Manufacturers||Banks – Diversified|
|6||BABA||SQ||Internet Content & Information||Software – Infrastructure|
|8||NIO||LCA||Drug Manufacturers – Specialty & Generic||Conglomerates|
|9||NNDM||QEPC||Conglomerates||Cutlery, Handtools & General Hardware|
|11||AMRS||FULO||Consumer Electronics||Telephone communication, except radio|
|12||GEVO||UMC||Software – Infrastructure||Semiconductors|
|14||ALPP||BNGO||Specialty Retail||Diagnostics & Research|
|15||MARA||SNDL||Computer Hardware||Drug Manufacturers – Specialty & Generic|
|16||SRNE||KTEL||Medical Devices||Communication services, misc|
|17||AMZN||NETE||Credit Services||Software – Infrastructure|
|18||FCEL||ASTI||Oil & Gas E&P||Semiconductors|
|19||SNDL||TSLA||Electrical Equipment & Parts||Auto Manufacturers|
|20||ES||ASTI||Capital Markets||Semiconductors and related devices|
What We’re Reading:
- Under Armour upgraded to Buy from Hold at Pivotal Research
- Bernstein downgraded Boeing to Underperform on worsening 787 outlook
- MGM makes new offer to acquire gaming company Entain, WSJ reports
What We’re Watching:
It may come as a sigh of relief to many that 2020 is now behind us.
That said, the stock market made multiple record-breaking moves in 2020, including ending the year at an all-time high.
We felt in review of 2020 would be beneficial to you.
What We’re Liking (Sponsored):