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🥤 I'll Drink To That
The beverage market is bubbling. Plus, one analyst has mixed feelings on Netflix.
Brooks Dyroff
March 27, 2024
Happy Wednesday, Zingers! Gas station stops used to be so quick for me. I’d run it, put $20 on pump 5, and grab a blue Gatorade. But now, just glancing at a drink cooler gives me decision paralysis. You got Prime, Celsius, Bodyarmor and more new drinks popping up every day. The former has sold more than one billion drinks since debuting in 2022. Safe to say the beverage market is bubbling. So I have a new investing strategy now: If it’s a drink, I’ll drink to that.
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TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
Briefly: Merck recently received regulatory approval for Winrevair, a groundbreaking therapy for adults with pulmonary arterial hypertension (PAH).
What Happened: The drug received FDA approval, marking a significant milestone in the treatment of the high blood pressure-related ailment.
Back Up: Merck acquired sotatercept via its $11 billion acquisition of Acceleron Pharma in 2021, underscoring the company’s commitment to advancing innovative therapies for serious medical conditions.
Why It Matters: The FDA approval offers hope to patients seeking improved exercise capacity and reduced clinical worsening events. Merck’s shares also surged, indicating investor confidence in the potential of Winrevair to address unmet medical needs in the PAH market.
Discover the fascinating world of Exchange-Traded Funds (ETFs) and unlock the future of finance! Join us as industry experts and thought leaders unveil the secrets of this dynamic market. Fast-track your understanding and stay ahead in the game!
Date: Thursday, March 28, 2024
Time: 11 AM – 12 PM ET
FIVE MOVERS
Levi Strauss shares moved higher in today’s session following some bullish analyst coverage from Telsey Advisor Group.
Coinbase shares took a breather in today’s session, trading lower amid worries about an ongoing legal issue with the SEC.
Robinhood stock continued to move higher after announcing a new credit card offering and other features in a company event Tuesday night.
Apple stock got a much-needed bounce in today’s session as investors came in to buy the dip on the tech giant, following a slew of negative news.
GameStop shares got crushed today, closing lower by more than 15% after the retail investor favorite reported disappointing earnings last night.
ONE TRADE IDEA FOR TOMORROW
Briefly: Wedbush analyst Michael Pachter maintained Netflix with an Outperform and raised the price target from $615 to $725.
So Basically: As long as global trends remain consistent and the ad market continues to improve this year, Pachter expects Netflix to continue to report strong results.
So Then: Pachter’s quarterly survey indicates a seasonal deceleration in subscribers, although Netflix’s ad tier did see an expansion of subscribers.
But Still: Some of the significant catalysts that drove his BIL placement have been priced in, including benefits from the password-sharing crackdown and reduced churn from the introduction of the ad tier.
So What? Despite the upgrade, after a year of significant growth, the analyst removed Netflix from Wedbush's Best Ideas List (BIL).
Discover the fascinating world of Exchange-Traded Funds (ETFs) and unlock the future of finance! Join us as industry experts and thought leaders unveil the secrets of this dynamic market. Fast-track your understanding and stay ahead in the game!
Date: Thursday, March 28, 2024
Time: 11 AM – 12 PM ET