{"id":210314,"date":"2021-02-02T17:48:25","date_gmt":"2021-02-02T22:48:25","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=210314"},"modified":"2021-02-03T07:31:11","modified_gmt":"2021-02-03T12:31:11","slug":"shorts-slide-markets-rally-amazon-stuns","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/shorts-slide-markets-rally-amazon-stuns\/","title":{"rendered":"Shorts slide, markets rally, Amazon stuns"},"content":{"rendered":"<hr \/>\n<table cellpadding=\"10\" align=\"center\">\n<tbody style=\"padding: 10px; font-family: Helvetica, Arial;\">\n<tr align=\"center\">\n<td align=\"center\"><center>This week, you missed Past Top Picks comments by <a class=\"expert-name\" href=\"https:\/\/stockchase.com\/expert\/view\/1392\/Brian-Madden\">Brian Madden<\/a>, including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/company\/view\/1083\/RY-T\"><span class=\"company-name\">Royal Bank<\/span><\/a> (<strong>A Top Pick Feb 26\/19, Up 6%<\/strong>) <strong><a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-text\">Get Premium<\/a> to receive all past top picks opinions a few hours before market open.<\/strong><br \/>\n<a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-image\"><img decoding=\"async\" class=\"alignnone size-full wp-image-123205\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2019\/11\/premium-button.png\" alt=\"Get Premium\" width=\"289\" height=\"48\" \/><\/a><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p>Markets soared as the Reddit-induced short squeeze stocks plunged Tuesday. <a href=\"https:\/\/stockchase.com\/company\/view\/3512\/GME-N\">Gamestop<\/a> plunged 60%, <a href=\"https:\/\/stockchase.com\/company\/view\/5592\/AMC-N\">AMC<\/a> slid 41.2% and <a href=\"https:\/\/stockchase.com\/company\/view\/1045\/BB-T\">Blackberry<\/a> (TSX) fell 21.42%. Could the short squeeze be over? In contrast the indices extended Monday&#8217;s rally: the TSX 1.03%, the S&amp;P 1.39%, the Dow 1.57% and the Nasdaq 1.56%.<\/p>\n<p>In Toronto, cannabis stocks got really high with <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria<\/a> up 17.58% and <a href=\"https:\/\/stockchase.com\/company\/view\/5389\/ACB-T\">Aurora<\/a> 13.12%. Tech stalwart <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify<\/a> gained another 7.39% and busmaker <a href=\"https:\/\/stockchase.com\/company\/view\/2386\/NFI-T\">NFI Group<\/a> advanced 8.5%. In contrast, silver names plunged about short-sellers propelled them the day before. For instance, <a href=\"https:\/\/stockchase.com\/company\/view\/2170\/FR-T\">First Majestic<\/a> fell nearly 25%. Industrials and tech led the TSX, while industrials and financials raised the Dow. <a href=\"https:\/\/stockchase.com\/company\/view\/544\/GS-N\">Goldman Sachs<\/a> popped 4.46% while <a href=\"https:\/\/stockchase.com\/company\/view\/214\/CAT-N\">Caterpillar<\/a> climbed 4.21%. Oil reached 52-week highs at $55 for WTI, which rose over 2.7% while WCS leaps over 6% to $43.50\/barrel. Meanwhile, the price of gold slipped 1.25% as Bitcoin jumped 6%.<\/p>\n<p>Helping drive markets was eager anticipation for big earnings after the bell. <a href=\"https:\/\/stockchase.com\/company\/view\/3890\/CMG-N\">Chipotle<\/a> made new intraday highs, but fell over 3% after hours upon reporting an <a href=\"https:\/\/finance.yahoo.com\/video\/chipotle-posts-eps-miss-line-212156222.html\" target=\"_blank\" rel=\"noopener\">earnings<\/a> miss. However, the biggest news came when Amazon announced that founder Jeff <a href=\"https:\/\/finance.yahoo.com\/news\/amazon-bezos-to-step-down-as-ceo-211421791.html\" target=\"_blank\" rel=\"noopener\">Bezos<\/a> was stepping down as CEO to executive chair. <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon<\/a> rose 1.11% in the day&#8217;s session, but even dipped slightly after investors learned the bombshell news which will keep investors speculating for days. Amazon itself reported a blow-out <a href=\"https:\/\/finance.yahoo.com\/video\/amazon-net-sales-44-yoy-213226770.html\" target=\"_blank\" rel=\"noopener\">quarter<\/a>, but it got lost in the news.<\/p>\n<p>&#x1f3ae; <a href=\"https:\/\/stockchase.com\/company\/view\/3512\/GME-N\">GameStop Corp.<\/a> -60%<br \/>\n&#x1f39e; <a href=\"https:\/\/stockchase.com\/company\/view\/5592\/AMC-N\">AMC Entertainment Holdings Inc.<\/a> -41.2%<br \/>\n&#x1f4f1; <a href=\"https:\/\/stockchase.com\/company\/view\/1045\/BB-T\">BlackBerry<\/a> -21.42%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria Inc<\/a> +17.58%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5389\/ACB-T\">Aurora Cannabis<\/a> +13.12%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify Inc.<\/a> +7.39%<br \/>\n&#x1f69a; <a href=\"https:\/\/stockchase.com\/company\/view\/2386\/NFI-T\">New Flyer Industries Inc.<\/a> +8.5%<br \/>\n&#x1f948; <a href=\"https:\/\/stockchase.com\/company\/view\/2170\/FR-T\">First Majestic Silver<\/a> -25%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/544\/GS-N\">Goldman Sachs<\/a> +4.46%<br \/>\n&#x1f3d7; <a href=\"https:\/\/stockchase.com\/company\/view\/214\/CAT-N\">Caterpillar<\/a> +4.21%<br \/>\n&#x1f336; <a href=\"https:\/\/stockchase.com\/company\/view\/3890\/CMG-N\">Chipotle Mexican Grill<\/a> -3%<br \/>\n&#x1f4e6; <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon.com<\/a> +1.11%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Brian Madden, including Royal Bank (A Top Pick Feb 26\/19, Up 6%) Get Premium to receive all past top picks opinions a few hours before market open. Markets soared as the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-210314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/210314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=210314"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/210314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=210314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=210314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=210314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}