HomeMarket NewsMicro Cap StocksAn Ocean of Success: Sea Limited Reports Strong Sales Performance, Sending Ripples...

An Ocean of Success: Sea Limited Reports Strong Sales Performance, Sending Ripples Across Markets

Actionable Trade Ideas

always free

image44

U.S. stocks faced a turbulent ocean today, with the Dow Jones index navigating a descent of over 100 points on Monday.

As the market set sail on Monday, the Dow declined by 0.34% to 38,951.34, while the NASDAQ saw a dip of 0.13% to 16,253.77. The S&P 500 also faced choppy waters, dropping by 0.12% to 5,131.69.

Check This Out: Top 4 Tech Stocks That May Implode This Month

ย 

Leading and Lagging Sectors

ย 

Industrials shares set sail, rising by 0.3% on Monday.

Conversely, communication services shares found themselves adrift, falling by 1.3%.

ย 

Top Headline

ย 

Sea Limited SE reported impressive sales figures for its fourth quarter on Monday.

Sea navigated through rough seas to post a quarterly loss of 19 cents per share, as opposed to a year-prior profit of 72 cents per share. The companyโ€™s quarterly sales reached an impressive $3.62 billion, surpassing market estimates of $3.53 billion.

ย 

Equities Trading UP

ย 

BitFuFu Inc. FUFU shares surged by 129% to $14.62, amidst market volatility following the companyโ€™s recent voyage of business combination with Arisz Acquisition Corp and debut on the Nasdaq.

Shares of Quoin Pharmaceuticals, Ltd. QNRX gained wind, skyrocketing by 94% to $5.46, after the company set sail with FDA clearance to recruit teen subjects for both its ongoing Netherton Syndrome clinical studies.

Jaguar Health, Inc. JAGX shares also rose, leaping by 45% to $0.1285 after a 50% surge on the preceding Friday.

ย 

Equities Trading DOWN

ย 

BioVie Inc. BIVI experienced a 41% dip to $1.12 after the company announced pricing of a public offering.

Shares of Astra Space, Inc. ASTR plummeted by 35% to $0.8588.

JOANN Inc. JOAN found itself underwater, falling by 31% to $0.3501.

Also Check This Out: โ€˜I Think Youโ€™ve Got An Interesting Stock Hereโ€™: Cramer On This Advertising Company

ย 

Commodities

ย 

In the realm of commodities, oil saw a minimal 0.1% incline to $80.07, whilst gold experienced a 0.4% growth, reaching $2,103.90.

Silver voyaged upwards by 1.1% to $23.62 on Monday, as copper sailed ahead by 0.1%, reaching $3.8665.

ย 

Eurozone

ย 

Today, European shares were a mix of calm and stormy seas. As the eurozoneโ€™s STOXX 600 fell by 0.2%, Londonโ€™s FTSE 100 dropped by 0.7%, Spainโ€™s IBEX 35 Index slid by 0.2%. Meanwhile, the German DAX and French CAC 40 had their own dance, with a decline of 0.2% and a rise of 0.1%, respectively. Italyโ€™s FTSE MIB Index encountered its own squall, slipping by 0.2%.

The tides of the job market seemed slightly more favorable in Spain, with a 0.3% decline in the number of individuals registering as jobless, amounting to 2.76 million in February.

ย 

Asia Pacific Markets

ย 

Asian markets found smooth sailing on Monday, with Japanโ€™s Nikkei 225 gaining 0.50%, Hong Kongโ€™s Hang Seng Index climbing 0.04%, Chinaโ€™s Shanghai Composite Index rising by 0.41% and Indiaโ€™s S&P BSE Sensex gaining 0.2%.

Singaporeโ€™s PMI held its own, drifting slightly to 50.6 in February from 50.7 in the prior month.

ย 

Economics

ย 

Monday sets sail without any significant economic reports on the horizon.

Now Read This: How To Earn $500 A Month From Nordstrom Stock Ahead Of Q4 Earnings Report

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.