(Image via Lions Gate Entertainment Corp.)
Following the Labour Day holiday, markets have struggled, and while they appeared to be moving on a higher track, they have been treading water, so to speak.
Worries over the slowing pace of economic recovery have overshadowed hopes that the Federal Reserve would maintain its accommodative stance a little longer after a soft US payrolls report.
Under Investigation:
If you recently purchased Tesla (NASDAQ: TSLA, Forum) securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
The tech company is under investigation by Rosen Law Firm on potential securities claims on behalf of shareholders resulting from allegations that Tesla may have issued materially misleading business information to the investing public.
This stemmed from an incident back in mid August where it was reported that Tesla’s Advanced Driver Assistance System made series of collisions with parked emergency vehicles. The scope of the investigation includes 765,000 vehicles—nearly every vehicle that Tesla has sold in the US since the start of the 2014 model year.
Coinbase Global Inc. (NASDAQ: COIN) was hit with a class action lawsuit filed by The Schall Law Firm, for violations of the federal securities laws. Coinbase stands accused of making false and misleading statements to the market.
At the time of its IPO, Coinbase needed a considerable injection of cash. The company’s platform suffered from service disruptions as it scaled to an increasing number of users.
Meanwhile, Square Inc. (NYSE: SQ) is under investigation by Halper Sadeh LLP, concerning potential violations of the federal securities laws and / or breaches of fiduciary duties relating to its merger with Afterpay Limited.
Quality checkup:
Hurricane Ida made landfall in late August and knocked out power to more than one million customers in Louisiana and is responsible for 15 deaths in the state, as of this writing.
At least 71 people have died in total from the storm – which hit Louisiana as a Category 4 hurricane – and left a trail of destruction across eight states.
Teladoc Health (NYSE: TDOC) is providing free, 24/7 general medical telehealth visits to residents, first responders and others directly impacted by the hurricane and the devastating winds and flooding that have affected the area as a result.
People from the hardest hit areas in Louisiana and Mississippi who are now being displaced can seek treatment from a licensed health care professional for any non-emergency illness.
Teledoc’s Chief Medical Officer, Dr. Bimal Shah, said that as communities seek to navigate the impact of this hurricane along with an active pandemic, the team at Teledoc wants to make sure that those faced with devastation and displacement from Ida are keeping their health front and centre and know how to get care.
“Virtual care is a proven solution that supports community health during these times, as residents from evacuated areas seek to stay healthy when health care facilities and providers may also be affected and unable to meet all care needs.”
Buy the dips?
Streaming platform Roku Inc. (NASDAQ: ROKU) has been moving lower over the course of the month, but over the past year it has grown 110%.
Entertainment studio Lions Gate (NYSE: LGF) has seen a similar trend, heading 39% lower over the last month, but 32% higher than this time, last year.
Their stories are so similar, I had a hard time telling whose stock chart was whose.
(Roku Inc. stock chart – Sept 2020 to Sept 2021. Click to enlarge.)
(Lions Gate Entertainment Corp. stock chart – Sept 2020 to Sept 2021. Click to enlarge.)
The studio behind such popular films as “American Psycho”, the “Divergent” and “John Wick” series of films is teaming up Roku to make all-new feature-length film based on Emmy-winning show “Zoey’s Extraordinary Playlist” (pictured at top) under the Roku Originals banner.
Don’t hang up that call yet ….
Zoom Video Communications Inc. (NASDAQ: ZM) released its financial results for Q2 fiscal 2022 and reported total revenue of $1,021.5 million, up 54% year over year.
Zoom’s founder and CEO, Eric S. Yuan said that the company achieved its first billion-dollar revenue quarter in Q2, while delivering strong profitability and cash flow.
“Q2 also marked several milestones on our expansion beyond the UC platform. We launched Zoom Apps, bringing over 50 apps directly into the Zoom experience, and Zoom Events, an all-in-one digital events service. Today we are a global brand counting over half a million customers with more than 10 employees, which we believe positions us extremely well to support organizations and individuals as they look to reimagine work, communications, and collaboration.”
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