Nike Bets on Digital, Analysts Bet on Twitter, and Google Bets on Telemedicine
Happy hump day, everybody! Welcome back to Bullish Rippers. Despite an attempt to recover yesterday’s losses early in trading today, stocks continued their march off a cliff. Indices, filled to the brim with Big Tech stocks, have been bruised by the retreat in tech stocks over the last few weeks.
However, there are a few all star stocks which managed their way into the green ✅ Let’s dive in:
😷 Last week, the Google-backed tele-health company American Well (Amwell for short) went public. We’ve seen a number of telemedicine companies take off in the era of COVID-19, both on public and private markets. $AMWL already serves over 2,000 hospitals, 55 health plans and dozens of healthcare companies. With a huge opportunity to expand both in the U.S. and internationally, we’re going to call $AMWL our Ripper of the day. It’s up nearly 24% since IPO.
👟 Even as physical stores reopen, millions of consumers have adjusted to a new normal — order online, return what you don’t like, repeat. Today, the CEO of Nike said digital is fueling how we create the “future of retail” and shared that Nike’s digital sales soared 82% in the first quarter of the year. Half of the company’s revenue might be coming from digital in the years ahead. They’re so confident that they’re upgrading revenue estimates for next year. $NKE jumped 9% today.
🐦 In a time where the government is particularly critical of social media companies, one analyst group isn’t so worried. Pivotal Research Group has upgraded Twitter, betting on their ability to capitalize on the forthcoming Olympics and direct ad offerings. They set $TWTR at a price target of $59.75, a bizarre and awfully specific number. After the announcement, the stock traded up 6% to $45.3 — so there’s quite a way to go.
That wraps our Wednesday Rippers list. Check back here on Friday to see what is moving on markets 📈📈📈