🍨 Daily Scoop: Focused Uber

 The market didn't have an exciting Monday. Issue #383 // December 8, 2020 Getty Images S&P 3,691.96 (-0.19%) Nasdaq 12,519.95 (+0.45%) Dow 30,069.79 (-0.49%) 10-yr 0.941 (-0.0290) Gold 1,873.60 (+0.40%) Oil 45.44 (-0.72%) *as of market close Hey Scoopers, The uncertainty about the fate of the stimulus package dampened the market's mood. — More on that in the "Overall Market" section. Beyond the overall market, one pre-product tech startup rallied on investors' excitement, while no one knows while another recent IPO fell off the cliff. — More on that in the "What's Up?" and "What's Down?" sections. Oh, by the way, it seems Uber decided to focus on its core business. — More on that in the "Water Cooler" section. But, first, here is a recap of what happened in the market yesterday: Market Recap - U.S. markets: The stock market indices didn't agree on the direction. Scroll down to the "Overall Market" section to read more. - Cryptocurrency: [Bitcoin's price]( kept it above the $19,000 level but gradually slid throughout the day. The Elephant in the (5G) Room Now is a time when it pays to heed timeless financial wisdom. John Templeton, one of the world's greatest investors, once said, "To buy when others are despondently selling and to sell when others are avidly buying requires the greatest of fortitude and pays the greatest ultimate rewards." [Click here for details...]( Uncertainty The stock market indices didn't agree on the direction. As you know, the government is still exploring the second stimulus package. [It's not clear whether people get a second check from the government or the package will be spent]( differently. As always, the market hates uncertainty the most, and that's why the Dow and the S&P 500 indices finished the day in the red, and the Nasdaq wrapped Monday in the green but only slightly. Self-Driving Cars Are Exciting So, what happened? Shares of Luminar Technologies (Ticker: [LAZR]( were up by more than 32% on Monday. This company came out of a SPAC (Special Purpose Acquisition Company) merger with a startup with the same name on December 3rd. It develops lidar for self-driving cars. It's a laser that measures the distance between a vehicle and objects around it, built by a 25-year old founder. That should tell you everything you need to know about it. The founder is 25 years old and the company has no product yet, all it's running on the rush by investors to get a piece of the action after the merger. Get This Right And You’ll Dominate With Options Jack Carter is about to host a live workshop to reveal The 4 Day Cash Machine. Make sure you attend this workshop because it’s one of the most powerful strategies on earth. [You can sign up for FREE here.]( (By clicking you agree to receive email updates and special offers from DTI Trader) Who Does That? So, what happened? Shares of Sumo Logic (Ticker: [SUMO]( were down by more than 16%. The company is a recent IPO and just announced its first [quarterly earnings report]( as a public company. Revenue growth was up double-digit, and the quarter was better than expected. So, no one knows why the stock is down, except that the quarterly earnings report was announced in the middle of the day, something no other company does. The drop is so strange that it makes me wonder if there is more to the story. I didn't invest in the stock even though it seemed quite beaten down for no reason. Perhaps there is something wrong, and the news may break tomorrow. Or, I just miss an excellent buy opportunity. As always, we don't have to swing a bat on every pitch. Uber Is Focusing So what happened? Ridesharing company Uber (Ticker: [UBER]( decided to focus on its core business and [sell its unprofitable big bet on the future of autonomous cars](. It's good news because it means the leadership is focused on getting the company's main business work instead of burning cash on bets that take time to pan out. But, the company is not thoroughly washing its hands off of the future of self-driving cars, and it's investing $400 million in Aurora, the startup that is buying the division from Uber. In the end, the future of public transportation could be running an efficient fleet of self-driving taxis, and it's good that Uber has taken a stake in the startup while not burning cash and attention on a day-to-day basis on self-driving cars. Uber is finally focusing! Focused Uber, is a good Uber. If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you. Hoda Mehr is CEO and Co-founder of [Stock Card]( and the host of Renegade Investors podcast. She runs a community of 30,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: [Stock Card]( We want to hear from you. 🙏 How are we doing? Please do us a favor... reply to this email and let us know a.) which sections you like the most and b.) what you would like to see more of. We appreciate your feedback. Copyright © 2020 [Trade Stocks]( Our address is 580 Broadway St., Laguna Beach, CA 92651. To update your preferences or unsubscribe, [click here](. 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