August 10, 2020

Down like Donkey Kong

Sports fans across the United States today were rocked by the news that the BIG 10 football conference has decided to cancel the 2020 CFB season.

Draftkings stock (NASDAQ: DKNG) suffered a nearly 8% loss after the news broke, but there is still a huge upside for investors; with the return of the MLB, NBA, and NHL, the long term outlook on DKNG is still positive. CNN has an average target price of $48 for the stock by the end of the year, which would mark a nearly 70% increase in value.

Getchya Masks!

Etsy (NASDAQ: ETSY), the popular site used by freelance artisans to sell and promote their products, reported smashing wall street expectations with $428.7 million in revenue, up 137% from in Q2 2019. The company netted a profit of 75 cents per share. 

Capitalizing on the crisis, Etsy reported selling over $346 million worth of masks alone in Q2 while sales for their top 5 categories all rose by over 50%.

Etsy CEO Josh Silverman argues that the image of Etsy is evolving. What was once seen as an anti-Amazon for quirky crafts and handmade goods is “becoming more top-of-mind as a place you can go to buy almost anything.”

With goals like this, it wouldn’t be absurd to see ETSY reaching $150+ by the end of Q3.

Free Stuff!

Scroll To The Bottom And Find Your Link!

Flying High

Shareholders of Canopy Growth Corporation (NYSE: CGC) are lighting it up after seeing the nearly 10% jump in valuation following Q2 earnings. 

Even though revenue did not grow as much as expected, CEO David Klein followed through on his promise to tighten the ship; losses by the company were significantly lower than expected, as the ex Constellation Brands c suite officer is turning the company howards the golden waters of profitability and cannabis infused beverages.

So Many Options

So, why do EVO Analysts like trading options rather than straight up shares? 

The truth is, you can do a hell of a lot more with them than you can do with outright equity ownership. 

For example, you can bet against a company without having to short them; you can buy a put, a bear put spread, or even sell a bear call spread.

This is just the tip of the iceberg--to learn more, grab a 7 day free trial to the EVO server and chat with our Analysts to learn a thing or two about trading with derivatives.