DIDI, BTO, UBER, NFLX, TSLA: Which Stocks Are Trending Today 26 Nov?

By Kirsteen Mackay

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A new COVID variant is spreading fear in the markets. Institutional investors are taking a step back from growth and tech shares as inflation concerns mount, but retail investors are still piling in.

Trending stocks today - Source: Adobe Image Stock

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We may be looking at a sea of red today as market fear resumes and selling pressure mounts. There is concern a COVID-19 strain in South Africa could be vaccine-resistant. The UK and Israel have begun travel restrictions.

Goldman Sachs believes the US Federal Reserve will double the pace of tapering from January to $30bn and slow bond-buying by mid-March. If tapering pushes interest rates up it could pop speculative bubbles in the market. There is also concern it could lead to deflation.

Reopening stocks are likely to be the worst hit. Meanwhile, high-growth tech stocks may continue their earlier sell-off.

Overnight, Asian stocks dropped their sharpest in three months. Gold gains. Oil falls more than 3%. Industrial metals are lower.

It is Black Friday and US markets will close early today. The New York Stock Exchange (NYSE) and the NASDAQ will close at 1pm Eastern.

NASDAQ S&P 500 Bitcoin
15,845.23 (+0.44%) 4,701.46 (+0.23%) 56,818.86 (-0.78%)

Here’s what’s trending in today’s markets:

  • China has asked ride-hailing firm Didi (NYSE: DIDI) to delist from the US markets due to security concerns.

  • Japan’s SoftBank (TYO: 9984) stock is falling in response as SoftBank’s Vision Fund owned more than 20% of Didi following its US IPO.

  • Canadian mining company B2Gold (TSE: BTO) declares a $0.04 dividend.

  • Baidu (HKG: 9888) received approval for its Apollo Go robotaxi business to collect fares in a part of Beijing.

  • Burlington Stores (NYSE: BURL) experienced market volatility with a mixed reaction to its Q3 earnings. Its GAAP EPS of $0.20 missed analyst consensus estimates by $0.97 but the company also paid down debt. Q3 revenues were up 37.7% year-over-year.

  • Uber Technologies (NYSE: UBER) CFO told the Wall Street Journal while the company is focused on improving its adjusted EBITDA, its main aim is long-term growth. It is aiming for $90bn in annual gross bookings for 2021.

  • Telecom Italia (BIT: TIT) CEO is willing to step aside to speed up KKR's takeover decision

  • Netflix (NASDAQ: NFLX) agreed to acquire visual effects company Scanline VFX for an undisclosed amount.

  • Tesla (NASDAQ: TSLA) to invest $188m to expand Shanghai factory capacity

  • Alibaba shares steady despite major investor cutting Ant Group valuation.

In crypto:

  • German Chancellor Olaf Scholz warns a tulip-style bubble is developing in the crypto markets. 

  • According to coinmarketcap the global crypto market cap is $2.61 Trillion, a 0.49% increase over the last day.

  • The biggest gainers in random tokens are Safe Drive (DRIVE) 1478.90%, Mega Lottery Services Global (MLR) 650.79% and NebulaToken (NEBULA).

  • The Bitcoin (BTC) price is largely flat around $57k.

  • Ethereum (ETH) has gained 2% in the past 24 hours.

  • Binance Coin (BNB) has gained 1% in the past 24 hours.

  • Solana (SOL), Cardano (ADA), XRP (XRP) and Polkadot (DOT) are all down in the past 24 hours.

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In this article:

Topics:
Trending Stocks
Industries:
Consumer Discretionary
Companies:
Burlington Stores
Netflix
Uber
Baidu

Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.