Yahoo Finance’s Jared Blikre reports on the day's trending tickers.
KRISTIN MYERS: But first, I want to bring in Yahoo Finance's Jared Blikre for a look at today's Trending Tickers. So Jared, let's start with Apple. Apple hitting a one-month high after announcing their Studio Bud earphones. Tell us more about it.
JARED BLIKRE: Yeah, I got to tell you, I actually like the way these things look. I was never a fan of the AirPods or AirPod Pros. But these look decent.
And I'll tell you what, they also announced plans for a faster Watch, future temperature, and glucose sensors. They're going to have an extreme sports model. So anyway, they got a bunch of new products coming out.
And you can see the enthusiasm today, up 2%. Now, we'll take a little bit of a longer-term view. Here's a monthly chart. And you can see we broke out of this consolidation range. And then if we take a look at the year to date chart, you can see, making some progress here but still largely going sideways. This is the key trend line to break through. If that happens, probably on its way up to these record highs.
But nice to see Apple leading again. This is the biggest day, up over about 2%. That's about the biggest day they've had in several weeks. So continuing to look good for the biggest company, biggest public company, and probably the biggest sentiment indicator on Wall Street here.
ALEXIS CHRISTOFOUROS: All right. And it looks like things are going from bad to worse for Lordstown, the electric truck-maker. The CEO and CFO both resigning just a week after the company warned it may go out of business. And the stock taking a big plunge today, Jared.
JARED BLIKRE: Yeah. And I'll tell you what. That was that going concern notice that we got last week. And today, the stock is down 16%.
By the way, those going concern notices are usually required by the auditor. A company doesn't really have much of a say-so. They can rebut it. But they have to put it in a document. But you know when that happens, a company is always looking for new money. And they do have that investor day coming up. And we'll have to see if that's scrapped. But now they don't have a CEO or a CFO.
The company has appointed Angela Strand, executive chairwoman, and Becky Rouf as interim CFO. But we'll have to see how this comes about because the company apparently getting in a little bit of trouble here for overstating their reservations. And that seems to be the reason why we've seen these departures.
So the stock has been under a lot of pressure. I'll go to a max chart. This stock has been compared to Nicola. And it did get caught up, not only in the EV craze but also meme stock craze rather briefly. But you can see, really quite far off of those highs there.
And by the way, the IPO price of the SPAC before they merged with that entity was $10. So they are now trading below that $10 IPO price.
KRISTIN MYERS: All right, Jared. Of course, we can't let a day go by, if we're not talking meme stocks, we're talking crypto. And it does seem like Bitcoin at least is making a little bit of a rebound, especially after some tweets that Elon Musk made. Tell us what's happening in cryptocurrencies.
JARED BLIKRE: Yeah. We got a nice pop over the weekend. And I've been tracking Elon's tweets with regard to Bitcoin. They haven't been having the same huge, outsized effect that they have in previous bouts. But we did get some liftoff over the weekend.
And this is constructive because you can see all of this noise down here, this is a consolidation. Hasn't emerged from it yet. The big number I'm really watching is 45,000. That's way up here. But this is some progress in the right direction.
It's no secret I've been bearish on Bitcoin technicals in the short and intermediate term. Still a longtime bull. But it is good to see this picking up.
Also seeing some action in the crypto space. A lot of these beaten down crypto stocks seeing some love today. Here's Riot Blockchain. That's up nearly 20%.
ALEXIS CHRISTOFOUROS: All right, let's talk about those meme stocks now. We talk about that, I think, just as much as we do the cryptocurrencies. It used to be, Jared, that when a company was going to go bankrupt, that would affect how investors saw the company. But I guess when it comes to these meme stocks, not so much.
JARED BLIKRE: Yeah, well, it used to be a bad thing. And now investors are saying, well, maybe it's a good thing because their capital position can get shored up. It shows that people care about the company. It's a pretty crazy phenomenon that we're seeing.
So this is our heat map. But I'm going to go to some individual charts. First we're going to go to Hertz. This was kind of the original bankruptcy stock that, you'll remember earlier in the year, they tried to take advantage of their rallying share price by offering their securities. But the SEC shot that down. They said company in bankruptcy, you can't do that.
But it's not stopping other people. And by the way, 503%, that was unexpected. Now, they did emerge from bankruptcy. I believe that's in-process. So they got some funding. But usually, you don't see shareholders getting return value on their shares when a company is going through bankruptcy. Or at least they get a very little amount.
Here is GTT Communications. This is another company that may be in trouble. But I also want to go to Washington Prime Group. This is a company, speculation rising over the weekend that they might file as early as today or tomorrow. So this is a year to date chart. And you can see, really down quite a bit, down 32%. But they're off the lows.
So I just want to show some perspective here. Here's a five-day basis. Investors bought the dip at one and a half dollars this morning, thinking that the company is going to go into bankruptcy and therefore will emerge stronger. Just think about that for a minute. And it just really shows how times have changed, Alexis and Kristin.
KRISTIN MYERS: All right, thanks so much, Jared. We'll see you a little bit later on in the show for a look at the oil markets.