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stars and dogs

A humorous look at the companies that caught our eye, for better or worse, this week

Fastly (DOG)

You might say Fastly Inc. investors lost a lot of money, well, fastly. Shares of the cloud computing services provider shed more than one-quarter of their value on Thursday after Fastly slashed its guidance for the third quarter. The company cited the “uncertain geopolitical environment” that led to a “significant reduction in revenue” from its largest customer – widely believed to be the video-sharing service and colossal waste of time TikTok. With analysts downgrading the shares, investors are lip-syncing the blues.

FSLY - NYSE

Sleep Number (STAR)

The great thing about working from home is you can sleep whenever you want. Just plunk a mannequin into your chair for video meetings and you’re good to go. With the pandemic prompting consumers to focus on healthy lifestyle habits including getting enough rest, Sleep Number Corp. said sales of products including its adjustable “smart beds” – which provide feedback on sleep quality – surged 12 per cent in the third quarter. Now that Sleep Number’s stock has more than tripled from its April lows, investors are sleeping very soundly indeed.

SNBR - Nasdaq

Aritzia (STAR)

Hey Aritzia Inc. models! Would it kill you to smile once in a while? You work for a women’s clothing company that, even during the pandemic, has been doing pretty well. Second-quarter results were well ahead of expectations and e-commerce revenue soared 82.3 per cent! The company even made an adjusted profit. But you stand there on the Aritzia website in your $350 puffy winter jackets and $98 zip-up hoodies looking all aloof and bored. C’mon! You’ve got a good job modelling nice clothes, and your company’s stock is rising. Stop with the pouting!

ATZ - TSX

NIO (STAR)

Business quiz! Shares of Chinese electric-vehicle maker NIO Inc., already up fivefold this year, extended their gains this week after: a) Elon Musk offered to buy the company so he could bulldoze its factories and eliminate competition for Tesla; b) NIO unveiled the first vehicle that runs entirely on gases produced by human flatulence; c) J.P. Morgan analyst Nick Lai upgraded the stock to “overweight” from “neutral” and hiked his price target all the way to US$40 from US$14, predicting the company will be a “long term winner” in China’s electric-vehicle market. Answer: c.

NIO - NYSE

AMC Entertainment Holdings (DOG)

With all the empty seats, delayed film releases and temporary cinema closings caused by the pandemic, it’s hard to imagine things could get worse for movie theatres. But in AMC Entertainment Holdings Inc.'s case, they just did. With attendance down 85 per cent from last year despite most of its theatres being reopened, the largest U.S. cinema chain warned it could run out of money by the end of 2020 or early in 2021 unless it can raise sufficient cash. AMC’s sinking stock price, and its US$5.5-billion debt load, suggest this movie might not have a happy ending.

AMC - NYSE

A humorous look at the companies that caught our eye, for better or worse, this week

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