Temu parent company PDD Holdings (PDD) reported third-quarter earnings that came in well above what analysts were expecting, sending shares more than 18% higher Tuesday morning. The Chinese holding company is known primarily for its fast-fashion brand Temu, which is quickly becoming a household name. It’s previously been compared to Shein, a foreign discount [...]
Shares of Wayfair (W) fell more than 6% in pre-market trading early this morning, but have since rebounded. The stock now sits 5% higher than yesterday’s close. This all came after the company delivered its third-quarter earnings. Wayfair reported dwindling sales as fewer and fewer customers shop with the online retailer. Total net revenue [...]
Amazon (AMZN) reported third-quarter earnings after the bell on Thursday and became the latest company to harness the power of AI to fuel growth. The e-commerce giant says that it is using AI for AWS (Amazon Web Services). CEO Andy Jassy says that the opportunity could manifest in tens of billions of dollars. The [...]
Threats of antitrust lawsuits and government intervention have been a concern for Amazon (AMZN) and its investors for years as the e-commerce giant gobbles up competition and appears more and more like a monopoly. But all this came to a head on Tuesday as the US government announced via the Federal Trade Commission (FTC) [...]
Wayfair (W) investors got a nice surprise Friday morning as Bernstein changed its viewpoint on the company from Underperform to Market Perform. This adjustment came from analyst Nikhil Devnani who raised the price target for W from $60/share to $65/share. Wayfair has been on a run over the long term, up nearly 48% in [...]
According to a court filing yesterday, Overstock.com (OSTK) has won a bid to purchase the assets of failed home goods store Bed Bath & Beyond (BBBYQ). The latter declared Chapter 11 bankruptcy in April and is still set to close down its physical storefronts by July. Overstock.com spent $21.5 million to purchase the assets, [...]
This morning Alibaba (BABA) announced that they are playing musical chairs with the leadership group, as existing members within the company are swapping roles. All of this comes as the company works towards its restructuring goal of splitting the businesses into 6 distinct groups. Long-standing CEO and chairman Daniel Zhang is going to transition [...]
Alibaba (BABA) reported earnings for the first time since the company split into six separate units - and the first time since China’s full reopening. While this report was highly anticipated by shareholders and prospective investors alike, it fell short of expectations. The company grew revenue by a modest 2% year over year to [...]
Welcome to part 4 of our 7-part series analyzing Michael Burry’s latest additions to Scion Asset Management. We’ve already unpacked BKI, COHR, and BABA - three stocks that make up 41% of the portfolio. But today, we’re going to determine whether you should fade or follow Burry’s decision to take a long position in [...]
Boxed - an e-commerce retailer specializing in bulk pantry products - announced today that they are exploring strategic alternatives. Usually, this means the company is looking to be sold and acquired. But, the company continues to look into fundraising initiatives as well. The goal is to announce additional funding in the next 45 days. [...]
