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Three Big Stocks on the Rebound This Week

Stockhouse Editorial
1 Comment| February 1, 2022

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It appears the power from Mondays gains are continuing into Tuesday, though the NASDAQ and S&P 500 each wrapped up their worst month since the infamous March of 2020. Even so, here are three stocks that are making headlines thanks to what appears to be a bit of a rebound over the last week ….

Spotify Technology (NYSE: SPOT, Forum) shares were up more than 13% to $196 (CAD) partially thanks to the Neil Young / Joe Rogan civil dispute, has been in recovery mode during the recent tech selloff. While it is still down nearly 17% on the month, analysts expect the buzz and its advertising power could sustain this upward momentum.

Though the company has never turned a quarterly profit in its 16-year history, Spotify will post its fourth quarter 2021 financial results and letter to shareholders on Wednesday, February 2, 2022, after market close. Click here for more.


(Spotify share chart over the last five days. Click to enlarge.)

Sony Corp. (NYSE: SONY, Forum) saw a 4% bump in its stock price to $111 (CAD) after it announced that it was going to buy independent game publisher Bungie Inc., best known for its work with rival Microsoft (NASDAQ: MSFT, Forum), for $3.6 billion (USD).

After it had bought Bungie in 2000, Microsoft spun off the game studio in 2007. Bungie is the studio behind the popular game franchise Destiny and was the original developer of Xbox-owned Halo.


(Sony share chart over the last five days. Click to enlarge.)

The New York Times (NYSE: NYT, Forum) moved nearly 4% higher to $40 on news that it had picked up the popular online word game Wordle, for an undisclosed price somewhere in the low seven figures.

Worlde is a “word of the day” online game where a player has six chances to figure out a secret five-letter word, using the least number of guesses. This is a part of NYT’s strategy to keep up its audience engagement as more readers look to their phones and tablets for news and entertainment.

The Times will also post its Q4 2021 financial results on Wednesday, February 2, 2022, after market close.


(New York Times share chart over the last five days. Click to enlarge.)

What stock news are you following today? Have any positive moves to share? Let us know in the comments below.



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