Hot or Not, Stock Market Edition: 12/3/2024

Just Google it, bro! Google parent company Alphabet (GOOGL) had a great day, as did The Trade Desk (TTD); however, Intel (INTC) and Peloton (PTON) both dipped. Here's the scoop on everything:

🔥 HOT: Shares of The Trade Desk (NASDAQ: TTD) gained 5.1% on Monday after an analyst at Guggenheim floated the idea that the company should merge with streaming and smart TV company Roku. Trade Desk recently announced that it’s developing a new operating system for smart TVs that will make it easier to advertise, something that’s stunted the growth of the smart TV market for years. The analysis argues that neither Roku nor Trade Desk can compete with Apple, Amazon, Netflix, or the other streaming giants on its own, but the two companies stand a chance if they team up. TTD has gained 88.6% YTD and has a B Zen Rating.

🥶 NOT: Peloton (NASDAQ: PTON) lost 7.6% on Monday without an obvious news catalyst, leaving some to wonder if there’s bad news on the horizon. Less than two weeks ago, Peloton’s Chief Content Officer, Jennifer Cotter, and Chief Supply Chain Officer, Andrew Rendich, sold $380,160 and $194,025 worth of shares, respectively. The news led some to believe that the stock would finish the year more weakly than expected, but the market responded by gaining 24.5% instead. Monday’s 7.6% loss seems unrelated, but it is curious, given that the news wires were quiet.

🔥 HOT: Shares of Alphabet (NASDAQ: GOOGL) rose by 1.5% on Monday, recovering about half of last week’s losses due to the Department of Justice’s monopoly-busting lawsuit. Google’s parent company has been doing well this year, gaining 23.7% YTD and maintaining a solid B Zen Rating based on our proprietary analysis. Google’s choppy trading of late isn’t scaring too many investors away, and it seems like a solid mid to long-term play as well.

🥶 NOT: Intel (NASDAQ: INTC) lost 0.5%, which doesn’t sound too bad until you realize that it was up almost 6% intraday at one point. The company’s CEO, Pat Gelsinger, is leaving the company after a short four-year stint in charge, a move that gives some investors hope that Intel will be able to finally start heading in the right direction in terms of its chip manufacturing. Analysts, however, disagree, and many people believe that a mere change in CEO isn’t enough to set Intel on the right track and that there’s more sideways trading ahead while the company figures out how to compete with the likes of AMD, Nvidia, and Apple.

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