Hot or Not, Stock Market Edition: 12/20/2024

By Dan Simms, Stock Reporter
December 19, 2024 9:19 PM UTC
Hot or Not, Stock Market Edition: 12/20/2024

What’s hot? Rapid7 (NASDAQ: RPD) gains amidst acquisition talk, and Netgear (NASDAQ: NTGR) caught a big break on Wednesday.

What’s not? Starbucks (NASDAQ: SBUX) faces a weird controversy, and Tesla’s (NASDAQ: TSLA) experiences post-election blues. Keep reading for the full story. 📈 Want more? Check out the biggest winners and biggest losers on WSZ.

🔥 HOT: Rapid7 (NASDAQ: RPD) gained 2.5% on Wednesday as discussions continue about a possible acquisition by Cannae Holdings. The deal is being pushed by Jana Partners, a hedge fund with a 12% stake in Rapid7. RPD has been steadily gaining since it reported earnings on August 6th and has a B Zen Rating.

🥶 NOT: Shares of Starbucks (NASDAQ: SBUX) fell by 2.4% on Wednesday amid a strange controversy. Starbucks is the poster child for an argument against investing in companies that use Diversity, Ethnicity, and Inclusion (DEI) criteria in their hiring process. Azoria Partners is launching a new ETF next year that tracks the S&P 500, minus Starbucks and eleven other companies that hire based in some part on DEI factors. The thesis is that companies that hire people based on anything besides merit are going to lose in the long run compared to companies that focus on merit alone. While that hypothesis is hard to prove or disprove, Starbucks has underperformed the S&P 500 this year and currently has a C Zen Rating.

🔥 HOT: Netgear (NASDAQ: NTGR) caught a big break on Wednesday and gained 4.8% on a day when most of the market was in the red. Netgear’s good fortune came in the form of an investigation into Chinese router manufacturer TP-Link. The U.S. Government is reportedly considering banning sales of TP-Link equipment in the U.S., which would give Netgear a major boost should it come to pass. Netgear has gained 84.4% YTD and maintains a Zen Rating of B.

🥶 NOT: Tesla’s (NASDAQ: TSLA) post-election rally finally took a break on Wednesday as the stock pulled back 8.3%. The cause of the pullback is not immediately clear, although it was a red day across the board that saw the S&P 500 index fall by nearly 3.0% and the NASDAQ drop by 3.6%. The Federal Reserve meeting cut its target rate by another quarter basis point, which is good news for stocks like TSLA in the long run. However, some of the wording used in the Fed’s announcement led some analysts to conclude that rate cuts may take longer to implement than previously expected, which could be the source of drag on the market.

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