Diamonds and Dogs
Zoom (ZM) zooming higher in a down market. As the market sells off, Zoom rose 8% intraday as "stay at home" stocks rebound as COVID-19 cases rise in 20 states including Texas and California. Even the U.K.'s 94-year-old monarch, Queen Elizabeth II joins the rest of the world making her first online public appearance on a videoconferencing platform on Thursday.
Travel and leisure taking a hit. Airline stocks resume their tailspin after Delta Air Lines (DAL) dropped 11% as they warned in a filing that it is seeking to renegotiate debt and needs an additional $1.2 billion. S&P Global assigned a BB rating, below investment grade, to Delta's proposed issuance of $1 billion in senior unsecured notes. S&P said that investors could expect to recoup 35% to 50% of their principal in the event of a default.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.