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.

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.

The tech dinosaur continues to struggle in the current environment. Management announced its second round of job cuts this year, laying off thousands more employees to support its focus shift to higher-growth areas like cybersecurity and artificial intelligence (AI). ✂️

Technical analysts also highlighted the stock breaking its thirteen-year uptrend line and accelerating to the downside. They say this signals further weakness is ahead, though Stocktwits users have a mixed view as sentiment sits in ‘neutral’ territory amid discussions of the stock’s turnaround potential. 😐

If you didn’t know, we’re constantly running giveaways and activities via the @Stocktwits handle, so make sure you’re following us there!

Yesterday, we asked the community to guess the S&P 500 ($SPY) closing price. And Stocktwits user @NYC_Urbanista essentially nailed it, missing by a penny!!!

Congrats to her on securing 6 free months of Stocktwits Edge, and a happy Friday to everyone! 👏

🧑‍💻 Register for a free 2-hour trading workshop on 8/10 to learn the fundamentals of sound investing*

👃 FDA approves nasal spray as first needle-free treatment for anaphylaxis

🤯 Analysts shocked as Mexico’s central bank clocks rise in inflation and cuts interest rates

🤖 JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI

💸 Cash App customers can now claim more than $2,500 each in a $15 million settlement. Here's how.

💊 Merck pays $700M for bispecific, spying autoimmune opening and chance to challenge Amgen in cancer

🤩 Chart Art: The best trade ideas and analysis from the Stocktwits community

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