Hot or Not, Stock Market Edition: 01/23/2025

Here’s what’s blazing and what’s grazing in the stock market…

HOT: China Yuchai International (NYSE: CYD) gains on a potentially softer stance on tariffs. Mercury General (NYSE: MCY) begins to recover from wildfire fallout. 

NOT: Canoo (NASDAQ: GOEV) files for bankruptcy. Apple (NASDAQ: AAPL) stock goes down following weak holiday sales. Keep reading to learn more — and for more updates like this, check out the biggest winners and biggest losers on WSZ. 

🔥 HOT: Singapore-based holding company China Yuchai International (NYSE: CYD) gained 14.9% on Tuesday after recently-inaugurated President Trump took a softer stance on his proposed tariff plan than it seemed like he would take during his campaign. The news is good for companies that depend heavily on exports to the U.S. CYD lost more than 30% during the runup to President Trump’s election but has now recovered significantly. CYD is up 36.5% since this time last year and has a B Zen Rating.

🥶 NOT: EV maker Canoo (NASDAQ: GOEV) finally threw in the towel and announced bankruptcy on Tuesday. The company had been struggling for a while and owed $164 million to creditors while only having $126 million in assets, according to the bankruptcy filing. Canoo could not secure enough funding to continue its operation and was simply out-competed by other companies, most notably Chinese EV manufacturers that can produce vehicles with much lower costs.

🔥 HOT: Mercury General (NYSE: MCY) gained 3.9% on Tuesday in what many people are hoping is the start of its recovery. MCY has lost 37.2% since the Los Angeles wildfires started and while some fear that the company’s reinsurance is not robust enough to cover the nearly $30 billion in losses, we believe that the company’s strong pre-fire momentum and growth potential could carry it through. We give MCY a B Zen Rating and Buy recommendation, although more risk-averse investors may want to steer clear.

🥶 NOT: Shares of Apple (NASDAQ: AAPL) fell by 3.2% on Tuesday after reports revealed weak iPhone sales — especially in China — during the holidays. Weak iPhone sales are a major concern for investors who hoped that the rollout of Apple Intelligence would have driven more interest in upgrading to the latest iPhone among customers. Jefferies and Loop Capital both downgraded their ratings for AAPL, which has now dropped just under 11% since the start of the year. We maintain our C Zen Rating for the company and give it a cautious Hold recommendation.

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