NEWS
Investors Earn 48 Hours Of Reprieve

The major indexes closed mixed on the week, but bulls will take a nearly flat close after the recent volatility. We’re all going to take some much-needed rest and wait with bated breath for the opening of the futures market on Sunday evening. In the meantime, let’s see what you missed. 👀

Today's issue covers beyond wild moves in food stocks, Cisco’s latest round of cuts, and our community price prediction giveaway winner! 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with communications (+0.85%) leading and materials (-0.08%) lagging.

Here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $TLS, $CDLX, $HUGE, $MITK, $BLND, 📉 $PCRX, $PLBY, $MMAT, $REAL, $JMIA*

*If you’re a business and want to access this data via our API, email us.

STOCKS
Beyond Wild Moves In These Food Stocks…

Plant-based meat company Beyond Meat has been on a wild ride since reporting its results on Wednesday. The company’s better-than-expected sales were driven by price increases, not sales volumes, which fell 14% YoY. It was also the ninth straight quarter of YoY revenue declines. 📊

Still, the beat was enough to spark a short squeeze in the stock, which helped it rebound sharply from all-time lows set earlier in the week. And today that wild move continued, with the stock climbing over 40% midday before quickly fading back to close red. 😵‍💫

Like other “meme stocks,” it is stuck between weak fundamentals and a powder-keg situation of high short interest and traders waiting to pounce. That situation comes with a lot of volatility, which means it will stay in play for the coming days and weeks. 👀

Meanwhile, another planet-based micro-cap stock is seeing a rise in its Stocktwits following after its recent acquisition. 🤩

Salad chain Sweetgreen soared 33% after its second-quarter revenues and same-store sales topped analyst expectations.

Revenue grew 21% YoY to $184.60 million, same-store sales grew 9% YoY in a challenging environment, and store-level margins expanded by two percentage points to 22% of sales. 🔺

On the earnings front, its net loss roughly halved from a year ago, and management raised its annual revenue, same-store sales, and EBITDA guidance for fiscal 2024.

The comeback in Sweetgreen shares helped buoy the entire sector, with Cava, Chipotle, and Shake Shack all popping. 📈

And lastly, Starbucks popped after hours on news that Activist investor Starboard Value has joined Elliott Management in amassing a stake.  

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