InvestorsObserver
×
News Home

Stocks Rally Friday: Affirm Surges on Earnings, Twitter Falls on Acquisition Pause

Friday, May 13, 2022 03:37 PM | Nick Dey

Mentioned in this article

Stocks Rally Friday: Affirm Surges on Earnings, Twitter Falls on Acquisition Pause

During trading Friday, 10 stocks traded to a 52-week high, while 29 stocks bottomed out at new 52-week lows. The S&P 500 is up 2.21% so far today while the Dow is up 1.29%, the Nasdaq is up 3.7%, and the Russell 2000 is up 3.21%.

Stocks are higher Friday afternoon. Cryptos are rallying.

Twitter Inc (TWTR) is down 9.83% after Elon Musk put his acquisition of the company on hold, saying he wants proof that spam/fake accounts do, in fact, account for less than 5% of Twitter users. This followed Musk's aim to scrap the $12.5 billion margin loan against his Tesla shares yesterday. Tesla Inc (TSLA) is rising 5.52% and Digital World Acquisition Corp (DWAC) is advancing 7.18% on the pause.

Affirm Holdings Inc (AFRM) is up 31.1% after reporting better than expected revenues on a narrower than expected loss per share. Further, Affirm guided its full-year 2022 revenues above consensus rose its revenues by 137% year-over-year. The report notably didn't come with concerning comments as the company emphasized that while it is easy to apply for a loan, it still looks at the prospects underlying financial state. Lastly, Affirm's earnings showed Expedia, Vrbo, and Priceline in the top 10, underscoring its ability to change with consumer trends as WFH favorites like Peloton fall out of favor with the Buy Now Pay Later company's users.

Sector Highlights

Consumer Cyclical stocks dominated our list of highs today with 3 out of the 10 total stocks that reached their high coming from the Consumer Cyclical sector. The Consumer Cyclical sector is outperforming the market, increasing 4.11% so far on the day. Over the last month, the Consumer Cyclical sector has underperformed the market, decreasing 18% while the S&P decreased by 10.93%.

Consumer Cyclical: HRB, MUSA, PAG

Industrials had the second-largest presence on our 52-week highs, with 2 out of 10 highs coming from the Industrials sector. The Industrials sector is underperforming the market today, increasing 1.12% so far on the day. Over the last month, the Industrials sector has outperformed the market, increasing 7.47% while the S&P decreased 10.93%.

Industrials: HURN, SFL

The Lists

The following stocks traded to 52-week highs:

BIOT, DINO, DOX, HRB, HURN, MUSA, PAG, SFL, SLVM, STNG,

The following stocks traded to 52-week lows:

ADVM, AJX, AMPE, ANAB, AXDX, CDXC, COGT, CTXR, DAWN, DMRC, ENFN, EVEX, FIGS, FIXX, MAX, MCW, NEWR, NLTX, NN, NTP, OCX, OYST, PETQ, RENT, STRO, UMH, VOR, VTEX, WVE

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App