First Republic Hits Record Low

Today is Tuesday, March 21, 2023.

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First Republic Hits Record Low

Shares of First Republic Bank (NYC: FRC) declined by 47.11% on Monday, hitting a record low.

Details: Despite the $30 billion rescue package last week, new liquidity fears on Monday sunk the stock. A Wall Street Journal report detailing a new rescue package scared investors.

Final Thoughts: For obvious reasons, this is not a good time to invest in First Republic Bank. The stock is down 89% in 2023.

Notables

Notable Earnings Today: Nike (NYSE: NKE), Canadian Solar (Nasdaq: CSIQ), Array Technologies (Nasdaq: ARRY), Tencent Music (NYSE: TME), GameStop (NYSE: GME), Bragg Gaming Group (Nasdaq: BRAG), AAR Corp (NYSE: AIR), Bitfarms (Nasdaq: BITF), Healthequity (Nasdaq: HQY), Huya (NYSE: HUYA), Hyperfine (Nasdaq; HYPR), Terran Orbital (NYSE: LLAP), VNET Group (Nasdaq: VNET), Oxford Square Capital (NasdaqGQ: OXSQ), TELA Bio (Nasdaq: TELA), X4 Pharmaceuticals (Nasdaq: XFOR), Citi Trend (Nasdaq: CTRN), ProFrac Holding (Nasdaq: ACDC).

Notable IPOs Today: NioCorp Developments Ltd. Common Stock (Nasdaq: NB), Ohmyhome Limited Ordinary Shares (Nasdaq: OMH), Mangoceuticals, Inc. Common Stock (Nasdaq: MGRX), Golden Heaven Group Holdings (Nasdaq: GDHG).

Notable Equity Crowdfunding Campaigns Ending Today: Bombarda Rum (StartEngine), AtomBeam (StartEngine).

Notable Economic Events Today: Existing Home Sales (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Streaming Stocks in Focus for 2023

Photo by Glenn Carstens-Peters / Unsplash

After streaming stocks faced challenges in the past year, some investors are waiting in the wings to see if now is a good time to buy.

Numbers: In the past 12 months, Netflix (Nasdaq: NFLX) is down 18%, Walt Disney (NYSE: DIS) is down 32%, Warner Bros Discovery (Nasdaq; WBD) is down 43%, Paramount (Nasdaq: PARA) is down 45%, and Roku (Nasdaq: ROKU) is down 46%.

Powering the Story: There’s growing optimism that streaming stocks can make a comeback in 2023. Several of these streaming stocks are positive so far in 2023, thanks in part to the larger surge in technology and media stocks.

Also: Some analysts are also jumping on the streaming bandwagon. Last week, Oppenheimer analysts wrote that Netflix could jump from $303 to $415. Also last week, several analysts upgraded Warner Bros Discovery.

But: There are still headwinds. Some investors are concerned that there’s too much competition in the industry. There is also a fear that some subscribers are suffering from “subscriber fatigue” and will start canceling streaming services.

Final Thoughts: These streaming stocks are cheaper than they were this time last year. But do these stocks still have room for growth? Both Roku and Warner Bros Discovery are up 50% already in 2023.

Bank Stocks in 2023: Buy or Avoid?

With several regional banks in the U.S. either collapsing or on the verge of collapsing in the past few weeks, is this a good time or a bad time for investors to look at bank stocks?

Bearish: The fundamental case for bank stocks appears to be weak. There is so much uncertainty about the current state of bank stocks that investors may want to avoid them.

Bullish: Bank stocks - which have historically been at a good value - are now at a lower value because of the recent stock price declines. The price-to-earnings ratio for banks is lower than it was weeks ago.

Final Thoughts: The choice to invest in bank stocks now comes down to risk tolerance.

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Trends to Watch

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