What Last Night’s Presidential Debate Means For Future Volatility And How the Markets Responded Today
Happy Wednesday, team and welcome back to Bullish Rippers. After last night’s debate, we’ve spent a lot of time thinking about how the forthcoming election is going to prime markets for volatility. For some, that means it’s time to take profits; for others, it’s time to start some new positions. Despite the uncertainty in the month ahead, there are definitely going to be winners on markets.
Here’s some of today’s big movers ⬇️
🔌 Battery technology is moving to be the backbone of the electric vehicle industry. The race to procure quality materials to make those batteries is a reason why Elon Musk and $TSLA indicated they would offer hefty contracts to lithium miners and third-party battery producers. Over the last few months, shares of lithium and battery companies have taken off. Lithium Americas, the owner of some of the biggest lithium deposits in America, are up 8% on today’s list. Companies such as Livent and Piedmont (which signed a deal with $TSLA on Friday) are also worth a look. Shares of Global X’s Lithium & Battery Tech ETF, a thematic ETF tracking a diversified collection of battery producers, are up 45% YTD.
☁️ Earlier today, cloud monitoring service Datadog announced they signed a partnership with Microsoft. Starting in October, $DDOG will become a native integration for users of the $MSFT Azure Cloud. This means that users can deploy $DDOG on their Azure instances with little friction. On the news, $DDOG rose nearly 13%. It has been a big year for cloud software companies — evidenced by the success of the recent $SNOW IPO, addition of $CRM to the Dow Jones Industrial Index, and increased need for cloud solutions amidst COVID-19.
🕹 Gaming is continuing to make a more pronounced presence in markets. In past Rippers we’ve talked about a number of gaming and esports companies. However, we haven’t seen many peripheral and hardware companies on our lists until today. Corsair Gaming, which IPOed last week, creates hardware products such as keyboards, headphones, power supplies, and RAM. They also own subsidiaries like Elgato, which creates hardware for streamers and content creators, and Origin PC, which builds custom gaming PCs. In their first week on the NASDAQ, $CRSR has risen 41%, a telling sign of the engagement investors have in the gaming space.
That wraps our Wednesday Rippers list. Check back on Friday to peep our Friday list! 🔥