Market Roundup December 6 to December 10 2021

Catch up with the stocks making the biggest moves this week.
3 min read
Candlestick Chart

Apple Inc. ($AAPL)

Apple’s share price has seen considerable growth last week as iPhone sales perform strong closer to the holiday season and Morgan Stanley increase their share price target from $164 to $200. Katy Huberty, of Morgan Stanley, said new innovative products not yet released from Apple such as the Apple Car and their AR headsets are not yet ‘baked into the share price’. They also have maintained a buy rating for the stock. Huberty, in a note to investors, said:

“Today, we know that Apple is working on products to address two significantly large markets – AR/VR and Autonomous Vehicles – and as we get closer to these products becoming a reality, we believe valuation would need to reflect the optionality of these future opportunities”

Apple’s share price has rose about 10.8% ($17.61) over the last week, and currently trades at $179.45.

Meta Inc. ($FB)

The Metaverse focussed company’s stock price gained higher last week after the company released its new social VR space called ‘Horizon Worlds’ – allowing its users to develop new activities and games within the Metaverse, or play Meta’s built-in base games. Community creators can also be rewarded through competitions and the game is free to anyone with a Oculus/Meta Quest 2 VR headset. Meta’s shares went up 7.4% ($22.91) over the week and closed at $329.75.

Digital World Acquisition Corp. ($DWAC)

Shares of $DWAC rocketed over the course of the week over news that Trump Media & Technology Group will be getting a CEO. The position will be taken by Devin Nunes, a Republican representative for the state of California, who will become CEO of the company launching the former President’s new social media, named ‘Truth Social’. Last weekend, the company also announced a new $1 billion PIPE investment. Shares of Digital World Acquisition Corp rose 24.57% ($11.05) and trades at $56.02.

Arhaus Inc. ($ARHS)

The company behind quality home furnishings and decor sales saw its shares go green this week after they reported strong Q3 earnings which impressed investors. Arhaus reported a 68% increase in net revenue to $203 million and a 281.9% increase in income from operations. EBITDA (adjusted) also skyrocketed 215.3% to $31 million. The furniture company also gave strong outlooks for their future financial reports. Shares of Arhaus Inc. rallied 34.58% ($3.05) and closed the week trading at $11.87.

Robinhood Markets Inc. ($HOOD)

Robinhood’s shares price took a hit this week as the company struggles to advance from its disappointing October financial results. The company’s shares have been incredibly volatile since its IPO back in July, as equity shares for individual/retail investors were offered on the same terms as institutional investors – 25% of the company’s equity was released in its IPO. Its disappointing financial performance has been somewhat attributable to the slowing adoption of cryptocurrencies – in particular meme coins such as Dogecoin and Shiba Inu – which Robinhood has focussed on greatly with the introduction of crypto trading in its app.

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