Watch out for Cracker Barrel (CBRL) after the logo backlash. Shares fell from a peak of over $70 to below $50 in the last two months. Reactions to its logo change, later reverted, are only a symptom.
The restaurant chain said in its fourth-quarter earnings report that it will review its customers’ experiences. It paused its expensive remodeling efforts. Instead, it will emphasize the core business of food. This will require reviewing its kitchen and other areas related to food quality.
Nvidia (NVDA) lost over 2% on Wednesday. Nvidia (NVDA) succeeded in removing the export ban. In return, the White House would collect 15% of its revenue on chips sold in China. Unfortunately, China reportedly banned its AI chips.
CEO Jensen Huang expressed disappointment in the Financial Times report. He said that the company likely “contributed more to the China market than most countries have. And I’m disappointed with what I see.”
Nvidia did not forecast meaningful revenue from the country, so the stock’s decline of 2.62% on Sept. 17 is an overreaction.
Uber (UBER) lost 4.99% on Wednesday. The stock formed a bearish “double top” at around $97, closing at $92.95. Alphabet’s (GOOG) Waymo will offer autonomous rides in Nashville.
It will leverage Lyft’s (LYFT) ride-hailing network. This is the first deployment from the two firms. It would weaken the Waymo/Uber partnership. Currently, Waymo offers rides in Austin, Texas, and Atlanta using Uber’s app.
LYFT stock closed at a new 52-week high. Bears held a 17.75% short float against the stock.
