Why Carvana Stock Rose 29% Last Month
The online car dealer gained on momentum from the recovery and positive analyst commentary.What happenedShares of Carvana (CVNA) were climbing last month as a series of bullish analyst reports, positive third-party data, and momentum from the recovery pushed the online used car dealer higher. According to data from S&P Global Market Intelligence, the stock finished…
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Not even the coronavirus can derail 5G’s global momentum
The pandemic has caused hiccups in some regions, but the super-fast wireless tech keeps rolling out. This was supposed to be the year 5G went mainstream. Huge swaths of the world would be blanketed with coverage. Every major handset maker — including Apple — would offer a wide variety of 5G phones . After years…
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How much of Walmart’s online sales growth came from groceries?
Walmart grew online sales 74% in the first quarter. In the press release announcing its earnings results, management attributed the acceleration in online sales growth to “strong results for grocery pickup and delivery services.” A couple of other notable items from Walmart’s report include gross margin contraction of 66 basis points and lower losses for…
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Open Restaurants, Return to Work Leave Grocery Stocks in Limbo
With restaurants resuming some dine-in services and more people returning to work, grocery stores are getting the short end of the stick. The total grocery industry, which includes in-store shopping and delivery and meal-kit providers, saw an “across-the-board spending deceleration” of about 500 basis points for the two weeks that ended May 19 from the…
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As Diners Flock to Delivery Apps, Restaurants Fear for Their Future
While the apps say they are saving them in the pandemic, many restaurateurs say the opposite. Before the coronavirus lockdowns, Matt Majesky didn’t take much notice of the fees that Grubhub and Uber Eats charged him every time they processed an order for his restaurant, Pierogi Mountain. But once the lockdowns began, the apps became…
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Fence Posts, Transit Apps Give Alt-Data Hunters Recovery Clues
Steven Weinstein raised his first-quarter revenue expectations for Wayfair Inc. after scouring credit and debit card information from millions of Americans. Two weeks after his report was published in April, Wayfair reported quarterly net revenue of $2.33 billion, just $60 million shy of Weinstein’s estimate, which was higher than the consensus forecast of $2.28 billion.…
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