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📺 May I Have Your Attention Please
Netflix, Amazon and Disney jockey for user attention, Penn soars on buyout reports and more
Brooks Dyroff
June 20, 2024
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Happy Thursday, Zingernation! In today’s world, when someone tells you they watched a movie, it almost feels like you have to ask if they actually watched it or sat on their phone for half of it. Hey, I can’t judge, I love to ‘watch’ a baseball game while simultaneously scrolling through my Twitter feed. But here’s what Amazon, Disney and Netflix are doing to keep user attention and avoid churn.
–Aaron Bry & Nic Chahine
Today’s Price Action:
Plus, check out the biotech company making it possible to screen yourself for cancer without leaving the house.
TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
What Happened: Shares of PENN Entertainment traded higher on Thursday with a report linking the company to an acquisition that could change the casino sector.
Basically: Penn Entertainment has been approached by Boyd Gaming BYD according to a new report from Reuters. The report comes as Penn shares are down 23% year-to-date in 2024 and the company has struggled to grow with its new ESPN Bet online sports betting platform.
So: The deal could face challenges getting off the ground, with Boyd having a smaller valuation when factoring in debt than Penn. Here’s an outline of some of Penn’s struggles that have lead to the acquisition.
PRESENTED BY MAINZ BIOMED
Mainz Biomed NV (NASDAQ: MYNZ) is taking a page from Exact Sciences Corp. (NASDAQ: EXAS) with ColoAlert, its at-home test that can detect colon cancer at the very early stage by analyzing tumor DNA.
Sure ColoAlert isn’t a household name in the U.S. like Exact Sciences’ Cologuard is, but that may not be for long. Mainz Biomed is in the throes of a study aimed at getting FDA approval and results should be in next year. If Mainz Biomed gets the nod, its business and stock could take off similar to what happened with Exact Sciences.
Recent test results may make it easy. In one study ColoAlert proved to be more accurate than an occult blood test or M2-PK test. With a market opportunity that Mainz sets at $4 billion and in Europe at $6 billion, going from a stock trading under $1.00 a share to one that is valued in the double digits like Exact Sciences may not be a stretch. To learn more about the company and ColoAlert click here.
FIVE MOVERS
LendingTree's stock dropped after the close on news that one of its subsidiaries is dealing with a cyberattack impacting customer data.
Smith & Wesson shares shot higher today, moving up after the close following a strong earnings report from the gun manufacturer.
Broadcom’s stock moved lower Thursday, trading down nearly 4% amid an overall selloff in the semiconductor industry.
Amazon shares closed higher today by around 2% after the company integrated new AI tools to help businesses on Amazon’s platform.
Gilead shares took off today, closing up by nearly 10% after the biotech company announced some positive trial data for its HIV treatment.
ONE TRADE IDEA FOR THURSDAY
Briefly: As Roku navigates a turbulent market, its stock is caught in a fierce bull-bear debate.
Basically: Needham analyst Laura Martin maintains a Buy rating with a $100 price target, summarizing key bullish and bearish points driving investor discussions.
Bullish investors are enthusiastic about Roku’s revenue potential from several fronts, including ad sales and subscription services. But here’s what the bears are saying about the stock.
PRESENTED BY MAINZ BIOMED
Mainz Biomed NV (NASDAQ: MYNZ) is taking a page from Exact Sciences Corp. (NASDAQ: EXAS) with ColoAlert, its at-home test that can detect colon cancer at the very early stage by analyzing tumor DNA.
Sure ColoAlert isn’t a household name in the U.S. like Exact Sciences’ Cologuard is, but that may not be for long. Mainz Biomed is in the throes of a study aimed at getting FDA approval and results should be in next year. If Mainz Biomed gets the nod, its business and stock could take off similar to what happened with Exact Sciences.
Recent test results may make it easy. In one study ColoAlert proved to be more accurate than an occult blood test or M2-PK test. With a market opportunity that Mainz sets at $4 billion and in Europe at $6 billion, going from a stock trading under $1.00 a share to one that is valued in the double digits like Exact Sciences may not be a stretch. To learn more about the company and ColoAlert click here.
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