Markets Journal 06/26/2020

  • Rad Universe Top Movers:
    • Tortoise Acquisition Corp SHLL: +41.21%
    • MakeMyTrip Limited MMYT: -15.92%
    • Sinclair Broadcast Group SBGI: -8.55%
    • Facebook FB: -8.32%
  • Kanye West and Gap GPS sign a multi-year deal for West’s Yeezy clothing line
  • Microsoft MSFT to close its physical retail stores resulting in an impairment charge of ~$450 million in this quarter
  • Amazon AMZN announced it will acquire self driving car startup Zoox for ~$1 billion
  • Unilever UL to stop digital advertising on Facebook FB and Twitter TWTR till the end of 2020
  • Notable Analyst Actions:
    • BTIG Research upgraded Farfetch FTCH from Neutral to Buy with a price target to $20.50
    • Evercore ISI upgraded Broadcom AVGO from In-line to Outperform with a price target of $380
  • Major Moves:
    • Match MTCH reached an all time high at $101.27
    • Momo MOMO reached a 52 week low at $16.81
    • Tortoise Acquistion Corp SHLL reached an al time high at $24.16
    • DocuSign DOCU reached an all time high at $176.77
    • Square SQ reached an all time high at $107.43
    • RingCentral RNG reached an all time high at $295.53
    • Snap SNAP reached a 52 week high at $24.85

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