It’s been quite the week of trading with plenty of news for investors to take in and we’re going over the most important in a stock market recap.
There’s no one major news event tying together this week’s news. Even so, there’s loads to take in as some of the most interesting stock stories in recent memory took place this week.
Let’s go over just a few of those in our stock market recap below!
The saga of Elon Musk making an offering to buy Twitter (NYSE:TWTR) continued this week. Following Musk’s offer to buy the company through a tender offer, Twitter adopted a poison pill strategy. The goal is to dilute Musk’s stake in TWTR should he attempt a takeover of the social media platform.
Netflix (NASDAQ:NFLX) released its Q1 2022 earnings report earlier this week and the results weren’t what investors expected. The company reported mixed results while also losing a massive amount of subscribers. On top of that, it estimates it’ll lose even more in the coming quarter. To go along with that, Pershing Square’s Bill Ackman sold his entire stake in the company following the dismal earnings report.
A couple of bits of news have been boosting airline stocks higher this week. The first was a court decision that put an end to mask mandates on flights and other forms of public transportation. Following that, American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL) both reported strong earnings with bullish guidance.
Digital World Acquisition (NASDAQ:DWAC) stock took a beating this week following a short report from Kerrisdale Capital. It called out the company as the “poster child for some of the worst abuses the investment vehicle has spawned.”
Plug Power (NASDAQ:PLUG) stock took off this week after signing a deal to provide Walmart (NYSE:WMT) with 20 tons per day of liquid green hydrogen. That news also pulled up several other hydrogen stocks this week.
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