Casper Sleep ($CSPR) – It has been confirmed - analysts at Goldman Sachs really do hate sleep. That hatred was expressed yesterday as the firm downgraded its price target for the company to less than the nightly recommended number of hours. Selling ensued, with shares falling 7.3%.
Occidental Petroleum ($OXY) – Being the worst performer in the S&P for your sector isn't great news, but on the bright side, it will land you a spot in The Daily Peel. Falling 7.5% yesterday, OXY led the oil & gas team downward on news of OPEC reaching a deal. The U.A.E, one of OPECs member nations, agreed to increase production throughout 2021. If you got above a D+ in high school Econ, you know that means lower oil prices in the future, which reduces O&G firm's profit margin.
Weed – Pot stocks are coming off their high and investors are getting slightly paranoid. They fear that federal legalization will take longer than anticipated. This seems justified, as a recent Senate bill around broadening banking services and allowing trade on major market exchanges for cannabis firms has lost attention. As a result, the industry ETF MJ got smoked 4.5% yesterday.