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Tuesday's Trades: Take-Two, Masimo, GameStop, and More

Despite perceived assurances from the Federal Reserve to cut interest rates, skeptical investors are selling risky assets. Higher inflation rates are forcing consumers to spend primarily on necessities like food and energy. By watching the core PCE, the Fed overlooks those price pressures. As a result, investors need to sell at risk of a sales slowdown.

In the gaming market, Take-Two (TTWO) lost 4.15% on Monday on worries that its hit title, Grand Theft Auto VI, may face a possible release delay. The firm is mandating workers to return to the office. Those who want remote-only work may quit.

Medical devices maker Masimo Corp. (MASI) is the long-term bullish buy. WSJ reported that the firm might consider a joint venture for its consumer division. Alternatively, it may spin off the consumer business entirely. Masimo hurt shareholders when it acquired Sound United for $1 billion.

Communication Services Stocks Soared

After bears dismissed Reddit (RDDT) as a stock whose rally would fade, shares gained 30% on Monday. It closed at $59.80. Cardlytics (CDLX) added 27.4%.

Conservative investors who want exposure to the Communications Services sector may buy the ETF (XLC). Shares are up around 13% YTD and up nearly 45% in the last year.

Traditional media firms are struggling to find support. Wait for Warner Bros. Discovery (WBD), Sony (SONY), Paramount (PARA), and Comcast (CMCSA) to bottom before buying them. They are value stocks whose share price may get cheaper. Investors worry that advertising revenue will continue falling for those firms.