Twitter ($TWTR) – While CEO Jack Dorsey galivants through the safari to build out Square, his baby - his first and apparently forgotten baby, took a tumble. Twitter did not have a good day. After a stellar earnings release last week boosted the stock, Wall Street pulled a classic "psyche!" and took shares down 4.1% yesterday. Even with killer earnings and Dorsey announcing BTC will be a "big part" of the future for Twitter, it wasn't enough to keep shares elevated.
Lockheed Martin ($LMT) – You ever just get sick of the lack of war going on? Yeah, well Lockheed Martin does, especially yesterday as the A&D behemoth dropped 3.4% on not-good-enough earnings. Most of the heat is coming from a $0.61 per share charge stemming from "performance issues experienced on a classified program" according to Barron's. Now, I'm no expert, but I think we can all agree...it's gotta be aliens.
Biotech ($BIB) – We all know Wall Street is great at forgiving short term news for longer term benefits...just kidding, did you really fall for that? Unfortunately, that is exactly what happened with biotech yesterday. Moderna, BioNTech, and notably Tonix Pharma all fell Monday, taking ProShares BioTech ETF down 3.9%. The newscycle in the industry was mixed, but in the realm of rich valuations, any negative news leads to exponentially negative stock returns.