tradingideas
Faraday Future (FFIE) stock went parabolic on Thursday in a high-volume environment, making it one of the best-performing companies in Wall Street. It jumped by over 125%, pushing its market cap to over $100 million, according to Yahoo Finance. Why FFIE stock soaredFaraday Future shares jumped to a high of $8.10, its highest level in over three weeks. This rebound happened as its total volume jumped to over 123 million, higher than the average 3.1 million. It also happened on the same day that Tesla shares dropped by over 4%. In most cases, EV companies tend to track Tesla’s performance. The r...
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Sprout Social Inc. (NASDAQ: SPT) is in the spotlight today after KeyBanc Capital Markets downgraded the stock from Sector Weight to Underweight with a new price target of $28, reflecting a 17.5% downside from its current trading price. KeyBanc’s downgrade is primarily driven by concerns over weak bookings, which have not only slowed significantly in the first half of the year but also declined year-over-year on an organic basis. Analyst Jackson Ader warned that this slowdown in bookings was expected to have a lasting negative impact on Sprout Social’s financial performance, influencing future ...
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Palantir Technologies Inc. (NYSE: PLTR) has already seen its stock more than double in value in 2024, but according to Northland Capital Markets analyst Michael Latimore, the data analytics firm still has room to grow. Latimore recently issued a bullish $35 price target for Palantir, suggesting a potential 10% upside from its current levels. He believes that Palantir is well-positioned to benefit from the ongoing expansion of artificial intelligence (AI) use cases, making it a compelling buy on any dips. ‘Palantir makes every company’s data great’Latimore’s optimism is rooted in Palantir’s str...
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EPAM Systems Inc. (NYSE: EPAM), a global leader in digital engineering and consulting services, has had a tough year, with its stock plummeting 32% year-to-date. This significant decline has drawn the attention of analysts, including Deutsche Bank, which initiated coverage of the company on August 22, 2024, with a Hold rating and a price target of $204, reflecting a modest potential upside of only 2% from its current trading price of $200.10. This cautious outlook is driven by a mix of growth opportunities and significant operational headwinds that have emerged in the wake of the geopolitical ...
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SoFi Technology (SOFI) stock has become a fallen angel despite its strong growth metrics and positioning at the intersection of finance and technology. Although it has risen by over 75% from its lowest point in 2023, it remains 74% below the highest point in 2021 as fintech stocks surged. Strong growth and narrowing lossesSoFi Technology is one of the fastest-growing companies in the fintech industry and its financials demonstrate this. Its annual revenue has jumped from over $565 million in 2020 to over $2 billion in the last financial year. Its trailing twelve months (TTM) revenue has soared...
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Archer Aviation (NYSE: ACHR) stock price has remained under pressure this year as it continued to underperform the broader market. It has slipped by over 34% in 2024 while the Nasdaq 100 and S&P 500 indices have risen by over 17%. Other flying car stocks like Joby Aviation have also retreated this year. Archer Aviation has made progressArcher Aviation, one of the biggest eVTOL or flying car companies, has made a lot of progress as it works to launch and commercialize its projects in 2026. In addition to significant testing, the firm has received important certification by US regulators. The fi...
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The Tata Steel share price is stuck in a correction phase after falling by over 15% from its highest point this year. It was trading at ₹153.85 on Thursday, up by about 8% from its lowest point this month. Tata Steel stock has done better than rivalsSteel stocks are not doing well this year as the industry goes through a major challenge. As shown above, only Tata Steel stock has risen this year, with the others like ArcelorMittal, JFE Holdings, Nucor, and Posco Holdings being in the red. This trend is happening as signs emerge that the global economy is slowing. China, the second-biggest econo...
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Indian stocks are doing well this year even as the rupee sits at a record low. The USD/INR exchange rate has moved to 83.93, 32% above its lowest point in 2018. The Nifty 50 and BSE Sensex indices have continued soaring and were nearing their all-time high. The BSE Sensex has risen for three consecutive weeks and was trading at ₹80,905, close to its all-time high of ₹81,998. Similarly, the Nifty 50 index has risen to ₹24,817, near its all-time high of ₹25,105. It has soared by more than 230% from its lowest point in 2020. This article looks at some of the most active stocks in India like Yes B...
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The era of the super peso is over as the currency continues its downtrend. The USD/MXN exchange rate rose for the fourth consecutive day even as the US dollar index tumbled below $101. It jumped to a high of 19.33, its highest point since August 7. The pair has soared by over 18.9% from its lowest point in April, making the Mexican peso one of the worst-performing emerging market currencies. In contrast, the South African rand has jumped by over 7.7% in this period while the Chinese yuan has jumped by over 2.5% from its highest point in July. End of the super pesoThe Mexican peso has been one ...
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The USD/KRW exchange rate rose for the third consecutive day as traders focused on the actions of the Federal Reserve and the Bank of Korea. It rose to a high of 1,335.43, higher than this month’s low of 1,315. Bank of Korea decisionThe Bank of Korea delivered its August interest rate decision, and as was widely expected, left interest rates unchanged at 3.50% for the 16th consecutive month. Notably, more bank officials were open to cutting interest rates than in the other meetings, signaling that the BoK would slash them soon. The central bank’s decision to leave rates intact was because of t...
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