StoneCo (STNE) is an out-of-favor fintech firm. Without Warren Buffett’s ownership in the speculative stock, bears are in control. They hold a 5.09% short interest against the stock.
Growth potentially peaked for the Brazilian payments sector. Investors need to watch out for total payment volume growth slowing. That would pressure prices, hurting StoneCo and PagSeGuro’s (PAGS) profit margins. Still, insider selling volume in PAGS stock is high, and daily trading volume is 10 times higher than the average.
In the satellite market, AST SpaceMobile (ASTS) likely peaked at $39.08. It closed at $26.11, down by around 10% last week. On the conference call, the firm said it would not sell shares. But on September 5, 2024, AST filed a prospectus. It will potentially sell up to $400 million Class A common stock.
C3.ai is a stock to avoid. After peaking at $30 earlier this summer, the firm reported a $0.05 non-GAAP EPS loss.
Last week, notable declines included Alphabet (GOOG) at -6.9%. This may hint that the Magnificent 7 will face selling pressure.
GE Aerospace (GE) lost 7.12%. It may lead to profit-taking in the aerospace and defense industry. Boeing (BA) is vulnerable to another drop as quality issues persist. Howmet Aerospace (HWM) indicated a “double top” bearish pattern at around $97.
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