Clorox ($CLX) – Pour one out for Clorox who lost 9.4% yesterday as investors just disrespect the firm and prove the past is forgotten. What is usually a very non-volatile stock, yesterday's loss was its worst single day performance in over 20 years. The drop came from revelations around demand for their products plunging on a YoY basis. I'm wondering how anyone could be surprised by this, but guidance of a sales decline of 2%-6% really ticked off investors.
Nikola ($NKLA) – The only way I could root for Nikola to fall to pieces harder would be if I had a short position on it, so watching them fall 8.7% yesterday was an absolute privilege. The firm built upon fraud announced earnings, in which revenue grew from $0 last year to a whopping $0 this year. Revenue guidance for the year was also lowered (what is lower than zero?), destroying much of the remaining confidence in the company.
Alibaba ($BABA) – Just because America stopped doesn't mean Big Tech earnings szn is over. Alibaba, the Chinese Amazon, PayPal, and many other firms rolled into one, released quarterly earnings. Despite some decently solid numbers, the fear of what the CCP might do next weighed heavily, bringing shares down 1.5%. Revenue did miss for the first time in two years, however the firm beat on earnings and EBITDA. As tensions rise and investors' fear levels increase, the story of the CCP vs Big Tech will only heat up. We'll see if anyone disappears again soon.
Nvidia ($NVDA) – The U.K. is really pulling Nvidia's arm - literally and figuratively. The American chip-making king by market cap, shook the world last year with an announcement of plans to acquire U.K. based chip designer Arm for the disgustingly high price tag of $40bn. As of yesterday, the U.K. said that the deal failed to pass the vibe check on grounds of national security. Nvidia shares lost 4% at the most yesterday, and finished relatively chilled out with a measly rise of 0.3%.