The retail investor community on Stocktwits is abuzz with activity, and this week, a handful of stocks have captured their attention. Let’s delve into the reasons behind the buzz surrounding these trending tickers:
SoFi Soaring High:
SoFi Technologies (SOFI) is a perennial favorite among retail traders, and this week it’s topping the charts. The stock is hitting new 52-week highs after a strong Thursday performance, driven by anticipation for its upcoming third-quarter earnings release next Tuesday. Analysts are expecting the company to report earnings of 4 cents per share on revenue of $632.056 million, according to Benzinga Pro.Tesla Cools Down:
After a phenomenal rally fueled by options trading on Thursday, Tesla (TSLA) shares are experiencing a slight dip on Friday. The stock surged 22% on Thursday, driven by the company’s strong third-quarter earnings report, which showcased its highest quarterly profit in over a year. CEO Elon Musk has also projected up to 30% growth in vehicle sales for the coming year. Despite the recent gains, investors seem to be taking a breather on Friday, locking in profits.Capri Holdings Takes a Hit:
Shares of Capri Holdings (CPRI) are plummeting on Friday after a judge blocked the luxury handbag company’s proposed merger with Tapestry Inc. (TPR). The Federal Trade Commission (FTC) argued that the merger would lead to higher prices and lower wages for consumers and employees, a move deemed unfair. The news has sent CPRI stock down a steep 50% on the day.Joby Aviation Offers Stock:
Joby Aviation (JOBY), the electric air taxi company, is offering 40 million shares of stock at $5.05 per share. This move comes on the heels of the Federal Aviation Administration (FAA) announcing regulations that will pave the way for Joby’s aircraft to begin operations in the United States. While the FAA’s announcement is a positive development for the company, the stock is facing pressure from the new share offering.Deckers Outdoor Steps Up:
Deckers Outdoor (DECK), the parent company of UGG and HOKA, is experiencing a surge in stock price after releasing strong second-quarter results. The company saw domestic sales increase by 14.2% year-over-year, while international sales jumped 33% during the quarter. This robust performance is boosting investor confidence in Deckers.Price Action at the Time of Publication:
Here’s a snapshot of the price action for these five trending tickers:* SoFi Technologies (SOFI): Up 3.48% at $11.31
* Tesla (TSLA): Down 1.34% at $256.98
* Capri Holdings (CPRI): Down 47.5% at $21.84
* Joby Aviation (JOBY): Down 16.4% at $5.06
* Deckers Outdoor (DECK): Up 13.5% at $172.56