Americans should brace themselves for $3 per gallon gas prices this month. With the economy reopening, demand rises. If OPEC and Russia won’t increase oil production, prices might climb from last Friday’s average of $2.76 to over $3, well above the April 2020 low of $1.76 per gallon.
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5 Stocks to Watch Out For Monday, March 1
Airbnb Inc ▲(ABNB) 206.35 USD +24.29 (13.34%) shares gained after two days of pre-earning stock prices. In its first earnings report, revenue came in at $859 million, higher than the projected $748 million. Despite losses of $3.9 billion, investors looked at the big picture. The bulk of losses came from costs incurred from its moves towards the IPO last year.
Etsy Inc ▲(ETSY 220.27 USD +22.69 (11.48%)) shares popped to as much as 13% before settling down 11.48% on Friday. The crafts marketplace beat top and bottom line predictions for its quarterly results. Earnings per share of $1.08 beat out estimates of 59 cents. In a statement, Esty said that “2020 was an inflection point in history for e-commerce and Etsy.”
Rocket Companies Inc ▲(RKT 21.85 USD +1.95 (9.80%)) shares zoomed up for more than 20% Friday before settling at 9.80%. The tech-driven mortgage lender and parent of Quicken Loans reported blowout results for the fourth quarter. Total revenue went up 200% and net income went ballistic at 948% year-over-year. Looks like demand for mortgages will continue to stay high in 2021.
Draftkings Inc ▲(DKINGS 61.53 USD +3.72 (6.43%)) share hit almost 7% during Friday’s trading before closing in at 6.43%. The online sports gambling company reported stronger-than-expected quarterly sales and hiked its full-year revenue forecast. DraftKings said its marketing campaigns, plus increasing legalization are bringing more users than ever.
Enphase Energy Inc ▲(ENPH) 176.06 USD +8.69 (5.19%)) the stock continued to rise after investors started appreciating the solar company’s capital raise announcement. Last week, Enphase announced its plan to issue $1 billion in green convertible senior notes, with two offerings of $500 million each due in 2026 and 2028. Given the Biden administration’s push toward renewables, solar and other non-fossil fuel companies have a rosy outlook.
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