“Happiness is not the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” ~ Franklin D. Roosevelt
Dear Trader,
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.
Is Apple Stock a Buy or Sell? (Sponsored)
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.
TrackStarIQ Data
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] |
|---|---|---|---|---|
| 1 | JD | BLNK | Biotechnology | Specialty Retail |
| 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 |
| 7 | FUBO | BABA | Semiconductors | Internet Retail |
| 8 | NIO | LCA | Drug Manufacturers – Specialty & Generic | Conglomerates |
| 9 | NNDM | QEPC | Conglomerates | Cutlery, Handtools & General Hardware |
| 10 | KTEL | AMD | Specialty Chemicals | Semiconductors |
| 11 | AMRS | FULO | Consumer Electronics | Telephone communication, except radio |
| 12 | GEVO | UMC | Software – Infrastructure | Semiconductors |
| 13 | ACY | BTBT | Entertainment | Marine Shipping |
| 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):
-InvestingChannel