Another day of trading over, and another day closer to the weekend! Today, Robin Hood (NASDAQ :HOOD) soared, mimicking the even familiar stocks on its trading platform.But beyond that, what has the stock market done today? Source : Shutterstock the S&P 500 closed up 0.82% Dow Jones Industrial Average closed up 0.8% Nasdaq Composite closed up 0.52% So what else has the stock market done today? Here are some of the best stories.What will the stock market do today? Preparation for containment.Hot Vax Summer may still be around, but some stock market executives are bracing for a second round of lockdowns in the United States.It comes as the Delta variant takes center stage, with Covid-19 cases and hospitalizations on the rise again.One of those market influencers is Will Meade, a former hedge fund manager who has become quite popular on Twitter.There he shared short choices like AMC Entertainment (NYSE :AMC), Newegg (NASDAQ :NEGG) and Express (NYSE :EXPR).He also shares business ideas based on big news.
In recent days, he has focused on Lockdown 2.0.So what do you need to know Some of the key evidence that Meade and his peers point to is growing reports of lockdowns internationally, including in China.
A handful of states and localities in the United States are returning to hide warrants, and some companies have done the same.As recently as today, New York City announced it will require proof of vaccination for indoor activities.
Giant eagle, Home deposit (NYSE :HD) and Target (NYSE :TGT) have all announced renewed mask mandates.$ APT masks will be mandatory everywhere soon, August trade! https://t.co/3jfare2eMN – Will Meade (@realwillmeade) August 3, 2021 For Meade and his peers, it’s a catalyst in supporting Lockdown 2.0 games.These are stocks that thrived during the early stages of the Covid-19 pandemic that could thrive again.Blue apron (NASDAQ :APRN) has become a favorite, perhaps tempting consumers with its meal delivery kits before potential blockages.
Alpha Pro Tech (NEW:APT) is another, offering face masks and personal protective equipment under new mandates.It is important to note that face mask purchases again tend to increase from week to week.The bottom line right now is that these Lockdown 2.0 games are sidelined as many pandemic winners share disappointing advice.However, if the narrative of the reopening begins to change significantly and the United States moves forward with further lockdowns, APRN and APT shares could be the first choices.
Game Over for gaming actions? One of the main stories this morning came from China, where state media had launched Tencent (OTCMKTS :TCEHY) and his peers in chaos.One internet gaming reviewer likened the hobby to “spiritual opium,” a powerful historical reference that certainly had an impact.Although .claims the outlet subsequently changed the wording, the damage was done.
TCEHY stock closed over 7% amid renewed fears of a Chinese regulatory crackdown.All of this comes just days after authorities pledged to relax their efforts to calm the markets.According to a Bloomberg report, “spiritual opium” comes as a criticism of the time children spend on Internet games.Although the 2019 rules have reduced play time, some trivia say that children play the popular game Honor of Kings for eight consecutive hours a day.Tencent has already responded by tightening controls on children’s games and reportedly weighed in on the ban on children’s games.The tale of “spiritual opium” more than smacked Tencent.
It appears the comment on behalf of the Chinese outlet weighed on a wide range of gaming stocks, pushing down Roblox (NYSE :RBLX), Skillz (NYSE :SKLZ), Activision Blizzard (NASDAQ :ATVI) and Take-Two Interactive (NASDAQ :OF THEM).So what do you need to know The commentary from China comes at an otherwise difficult time for gaming stocks.
Take-Two disappointed investors today with its earnings forecast, and consumers just don’t know what the short term will look like for video games.With Hot Vax Summer underway, Covid-19 hobbies like gaming seem to have gone down the drain.However, before you panic and sell games stocks, be sure to look at the long term growth of the games market.
Take into account the renewed fears of the Delta variant, and there may still be a short-term case for some of these popular names.
What else we are looking at Insurtech Hippopotamus (NYSE :hypo-) started trading today after closing its reverse merger with Reinventing technology partners.Above all, his path to the public markets was far from easy.What do I mean? Just before the HIPO action debuted, donors withdrew over 80% of the capital raised for PSPC.You can read more about this chaos here.Gary Gensler, chairman of the U.S.Securities and Exchange Commission, could crack down on cryptocurrencies to protect investors.
While this is not out of step with current regulatory discussions, it may come as a surprise to many on Wall Street.This is because Gensler is a self-proclaimed Bitcoin (CCC:BTC-USD) aficionado with a personal interest in cryptos.However, he said his interests in protecting investors run deeper.Still in the crypto world, Ethereum (CCC:ETH-USD) draws attention.Indeed, its long-awaited London hard fork should come into force on Thursday, August 5.As of the publication date, Sarah Smith does not have (directly or indirectly) any position in any of the stocks mentioned in this article.
The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.Sarah Smith is Today’s Market Editor at InvestorPlace.com..
