Diamonds and Dogs

8/3/21

Traders are buying Robinhood (HOOD). The trading app stock that recently went public is up 16%. The company that profited off the meme stock movement is now the publicly traded company that is acting like a meme stock itself. Robinhood has been the second-most discussed name on Reddit's wallstreetbets forum over the past 24 hours.

Profit-taking in Clorox (CLX). Clorox is down 10%, its worst drop in more than two decades after forecasting a decline in sales. One of the big beneficiaries of the pandemic now sees overall sales to decline of 2% to 6% while the health and wellness segments will be down 17% year over year. Even Glad trash bags and Kingsford charcoal missed estimates. Tough quarter.

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