- What people say about stocks and the market on social media continues to gain importance in the investment world.
- Consequently, Market Prophit compiles and analyzes social media commentary related to the stock market and general investing, and then elaborates statistics that track sentiment for both experts (Market Prophits) and the public (the Crowd).
- On Wednesday, Benzinga spoke with Market Prophit’s CEO Igor Gonta, who shared some commentary about trending stocks.
Holiday Roundup
The expert wanted to go into the holiday season. “It's interesting to take a look at earnings past and future for some key retailers as we head into holiday and the all important Black Friday,” he said.
Macy’s
After the company reported disappointing earnings, Macy's, Inc. M’s stock tanked. “Currently, the Crowd is slightly bullish while the Market Prophits are very bearish,” the Chief Executive explained.
JC Penney
J C Penney Company Inc JCP also reported disappointing earnings and “proceeded to fall quite hard afterwards,” Gonta continued. “Currently, both the Crowd and Market Prophits are bearish.”
Target
Finally, there’s Target Corporation TGT, which “just beat earnings and raised the lower end of revenue guidance. Currently, the Crowd is bullish while the Market Prophits are bearish,” the analyst told Benzinga.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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