Diamonds and Dogs
Facebook (FB) trading at a new all-time high. The social media giant is up 5% following news the other day the company will create Facebook Shops, which lets businesses operate unified online stores across Facebook and Instagram. An analyst today expects the new front to create a revenue opportunity of up to $30 billion as Shops expands the merchants branded experience on the broader platform.
Luckin Coffee (LK) not so lucky. The coffee company is down 35% after the stock reopens following a more than one-month trading halt. The company is being investigated for financial misconduct by their former management team. One analyst was not optimistic about the future for Luckin Coffee predicting a complete wipeout for equity holders.
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