Today’s Research Reports on Trending Tickers: iQIYI and Snap
Major U.S. markets closed down on Thursday, with the Dow Jones posting its 8th consecutive daily decline, as investors’ attention remained fixed on trade tension between the U.S. and its key trading partners. The S&P 500 Index shed 0.63 percent to close at 2,749.76, while the Nasdaq Composite dropped 0.88 percent to close at 7,712.95. The Dow Jones Industrial Average declined 0.80 percent to close at 24,461.70.
According to Jeff Donlon, managing director of the global strategies group at Manning & Napier, “We think the trade issue is going to continue to escalate, and that it could last for several quarters, if not years. Growth expectations should be reset currently, and the longer this drags on, the more risk will grow and the more the issue should be factored into expectations.”
RDI Initiates Coverage on:
iQIYI’s stock moved 12.15% lower Thursday, to close the day at $38.83. The stock recorded a trading volume of 56,779,713 shares, which was above its three months average volume of 15,429,098 shares. In the last year, iQIYI’s shares have traded in a range of 15.30 – 46.23. The share price has gained 153.79% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $26.49 is above its 200-day moving average of $23.00. Shares of iQIYI have gained roughly 72.42 percent in the past month and are up 149.71 percent year-to-date.
Access RDI’s iQIYI, Inc. Research Report at:
On Thursday, shares of Snap recorded a trading volume of 25,272,372 shares, which was below the three months average volume of 28,473,429 shares. The stock ended the day 3.44% higher at $13.24. The share price has fallen 37.61% from its 52 week high with a 52 week trading range of 10.50 – 21.22. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $11.75 is below its 200-day moving average of $14.70. Shares of Snap have gained roughly 23.62 percent in the past month and are down 9.38 percent year-to-date.
Access RDI’s Snap Inc. Research Report at:
Our Actionable Research on iQIYI, Inc. (NASDAQ:IQ) and Snap Inc. (NYSE:SNAP) can be downloaded free of charge at Research Driven Investing.
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