Here’s the market summary for the week of July 20, 2020:
- Halliburton (HAL), IBM (IBM) on July 20
- Coca-Cola (KO), Lockheed Martin (LMT), Philip Morris (PM), Capital One (COF), United Airlines (UAL), Snap (SNAP) on July 21
- Microsoft (MSFT), Biogen (BIIB), Chipotle (CMG), Tesla (TSLA), Whirlpool (WHR) on July 22
- Dow (DOW), Kimberly-Clark (KMB), American Airlines (AAL), Southwest Airlines (LUV), AT&T (T), Twitter (TWTR), Intel (INTC) on July 23
- American Express (AXP), Verizon (VZ) on July 24
Some interesting data from Seeking Alpha:
Colorado is expected to release sports betting data for June next week. In the first month of action after sports betting became legal, Colorado’s sportsbooks generated in $25.6M in bets in May. As major sports slowly return, DraftKings (DKNG) and Fanduel (PDYPY) are expected to be the top brands in the state.
Monthly RV data is due in from the RV Industry Association in a report of interest to Camping World Holdings (CWH), Winnebago (WGO), Thor Industries (THO), LCI Industries (LCII) and Patrick Industries (PATK)
- Jamf Holdings (JAMF) on July 23; estimated to raise $288.0M. The company provides Apple enterprise management software.
As the economic fallout from the coronavirus pandemic continues, almost one-third of U.S. households, 32%, have not made their full housing payments for July yet, according to a survey by Apartment List, an online rental platform. About 19% of Americans made no housing payment at all during the first week of the month, and 13% paid only a portion of their rent or mortgage.
As the pandemic has taken people off hotels and planes, the result is that socially distanced outdoor holidays are enjoying a major popularity surge – lead by camping and “glamping” (a higher-end camping experience). Some campsites are reporting a 400% spike in business, which makes the case for an increase in sales of tents, sleeping bags, camping furniture and cooking equipment.
But Tesla does not own the electric car business. Yet its market cap suggests that it has been granted a 100% monopoly. In reality, all of the traditional auto manufacturers are also developing electric cars. Tesla is facing incredible competition from much deeper-pocketed competitors. And whether auto manufacturers produce vehicles with electric or traditional combustion engines, the one thing that history has shown us about the industry is that it is very difficult to consistently turn a profit. Intense competition and a capital-intense industry aren’t generally the recipe for huge profits – so nobody really knows whether Tesla will ever make a decent profit.
WealthLed, Copyright 2020 - 2022, All Rights Reserved. WealthLed does not offer any personal financial advice or recommend the purchase or sale of any security or investment for any specific individual. Nothing in this article should be considered personalized investment advice. Additionally, WealthLed has advertising relationships with some of the offers listed on this website. We may receive compensation when you click on links to those products or services.