Zscaler ZS (NASDAQ) (+20.47%)
Zscaler is a cloud security company, with headquarters in San Jose, California. It offers a platform for businesses that move their data to the cloud, with employees who work remotely. Zscaler surged 20% after reporting strong earnings in its most recent quarter. The company posted adjusted earnings of 25 cents per share on $318 million in revenue verse the expected earnings of 20 cents per share on revenues of $305 million.
DocuSign DOCU (NASDAQ) (+9.73%)
DocuSign, Inc. is an American company headquartered in San Francisco, California, that allows organizations to manage electronic agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature, a way to sign electronically on different devices. Shares jumped 9.9% after the electronic agreement company’s quarterly numbers topped analyst expectations. DocuSign’s revenue guidance for the third quarter was also above expectations, and its full-year outlook was in line with estimates.
BILI (NASDAQ) (-3.74%)
Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday life of the young generations in China. Shares of Bilibili Inc. were sharply lower in early Hong Kong trade, extending their overnight selloff on Wall Street as investor sentiment soured after the Chinese tech company's disappointing second-quarter results. The company's Hong Kong-traded stock slumped as much as 17%, putting it on the way for its worst one-day loss in nearly six months.
FIZZ (NASDAQ) (-7.36%)
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In trading on Friday, shares of National Beverage Corp (FIZZ) entered into oversold territory, hitting an RSI reading of 24.6, after changing.
WHAT ELSE HAPPENED?
Rivian Automotive (RIVN 1.11%)
Tesla (TSLA 3.33%)
Rivian Automotive was frequently compared to Tesla when it went public. The electric vehicle maker was backed by Amazon and Ford Motor Company, which seemed to give it much brighter prospects than many of its industry peers. Today, Rivian's stock trades nearly 60% below its IPO price. The market's enthusiasm for Rivian waned as it struggled with production delays, supply chain disruptions, and widening losses. Rising interest rates exacerbated that pain. Tesla also struggled to ramp up its production for years before it achieved mainstream success. But once it did, its market cap soared from less than $3 billion at the beginning of 2012 to nearly $850 billion today. Could Rivian, which is worth $28 billion today, replicate that success story and catch up to Tesla by 2030?
The differences between Rivian and Tesla
Rivian produces three types of EVs: the R1T pickup truck, the R1S SUV, and Amazon's EDV (electric delivery van). Its R1 vehicles start at under $70,000 and can travel more than 300 miles on a single charge. It doesn't manufacture any electric sedans like Tesla does. However, Tesla also launched its own electric SUV, the Model X, back in 2015. It also plans to launch its long-awaited Cybertruck next year, followed by a "configurable robovan" for cargo and passengers in the future.
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