American Airlines Axes 1700 Flights
Plus, telehealth investment ideas.
Today is Monday, November 1, 2021.
American Airlines Axes 1700 Flights on Halloween Weekend
On Halloween weekend, American Airlines (Nasdaq: AAL) canceled over 1,700 flights, a bad sign for the airline giant as it tries to navigate the upcoming busy holiday season.
Numbers: Over 800 flights were canceled just on Sunday - which is about a third of its normal daily flights.
Catalyst: American Airlines attributed the cancelations, as well as other delays, to weather issues such as severe winds in Texas. There was also a staffing shortage.
Stock Price: Shares of American Airlines are up 26.9% this year, but down 6.43% in the past 30 days.
Half Glass Full: The airline announced that more flight attendants will be returning from leave in the coming weeks. Additional flight attendants are to be hired as well. Hopefully, the expanded headcount limits future delays.
Final Thoughts: Investors should keep an eye on American Airlines’ stock price Monday.
Notable Earnings Today: ON Semiconductor (Nasdaq: ON), Trivago (Nasdaq: TRVG), PG&E (NYSE: PCG), Simon Property Group (NYSE: SPG), Diamondback Energy (Nasdaq: FANG), Clorox (NYSE: CLX), Avis Budget Group (Nasdaq: CAR), Mosaic (NYSE: MOS).
Notable IPOs Today: SilverSPAC Inc. Warrant (Nasdaq: SLVRW), LianBio American Depositary Shares (Nasdaq: LIAN), Vision Sensing Acquisition Corp. Unit (Nasdaq: VSACU).
Notable Equity Crowdfunding Campaigns Ending Today: The Fox Den in Woburn (MainVest), Union Electric (Republic), mcSquares (StartEngine), Northstar Technologies Group (NetCapital), Tanoshi (StartEngine), washbnb (Wefunder).
Notable Economic Events Today: Markit manufacturing PMI (9:45 a.m. ET), ISM manufacturing index (11:00 a.m. ET).
3 Telehealth Stocks Under $10
As telehealth gains popularity, investors may want to get exposure to the growing industry. Here are three examples of telehealth stocks that are currently under $10.
Looking Up: Uphealth (NYSE: UPH), which has an integrated management care platform for patients, is down 83% in the past year. The stock is currently $1.78.
Prescribe This: Hims and Hers Health (NYSE: HIMS), which is known for its prescription medicine platform, currently trades at $7.80, which is down 50% this year.
Digital Health: Amwell (NYSE: AMWL), which is known for its video healthcare platform, is down 64% this year and trades at $9.00 per share.
Final Thoughts: Getting exposure to the growing telehealth industry is easy with these low-cost stocks. However, there are certainly better telehealth stocks to consider with higher share prices.
Bitcoin Faces a “Supply Shock” Due to Little Profit Taking
As the price of Bitcoin reached an all-time high in October, a recent report from Kraken Intelligence sheds light on what’s behind the surge.
Details: The data from the report points to a potential supply shock where long-term holders are not taking profits. The number of bitcoins that haven’t moved in the past 6 months has already reached a 3-year low, according to the report.
Big Picture: Basically, the report finds a lot of strength among long-term holders and mining pools. This includes individual miners who have realized modest profits.
Numbers: The price of Bitcoin skyrocketed over 35% in October.
Final Thoughts: Despite these trends, the report concludes that there is a considerably healthy macro environment for Bitcoin.
Trends to Watch
We Have a Deal: John Deere reaches tentative deal with striking workers (The Hill)
Come Together: AusNet agrees to $7.7 bln Brookfield-led bid, shares hit record high (Nasdaq)
This Oil Makes Sense: Oil falls after China releases reserves of gasoline, diesel (Reuters)
Ultimate Meme Coin: Elon Musk-named meme token 'Dogelon Mars' gains nearly 4000% in October (CoinTelegraph)
Growth: Japan’s Nikkei 225 surges 2%; investors react to mixed Chinese factory activity data for October (CNBC)
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