Up Down Funk You Up

With Grace away this week, I’m drawing on our team’s lack of musical talent to wrap up a rather wild week in global markets. Here’s what Bezos did, what Stake customers did, the newest stocks on Stake and how one tech bear came out of the cold to snatch the prize for best buy of the week.

5 Most Recently Added Stocks on Stake

1. Upwork (-4.14%)
2. Elastic NV (-7.58%)
3. FrontDoor Inc (-4.81%)
4. Venator Materials(0.22%)
5. C & J Energy Services (-9.21%)

Rollercoaster of Love

Keeping with the top-of-the-pops theme, the Red Hot Chilli Peppers’ 1996 hit, Love Rollercoaster is a fitting song for last week’s market movement. Except you can probably ignore the love bit — unless you were on the right side of the market or sitting in cash. For those born after the song was a hit, trust me….it’s a goodie!

One thing we know about markets is it’s a roller-coaster. Last week confirmed that. Nearly all global indices took a dive, with the major US indices leading the charge. The NASDAQ100 index fell through the 7,000 mark during Thursday’s session after hovering around 7,700 at the beginning of the month.

Tech was the major faller, but most sectors took a beating. The S&P500, which indexes the 500 largest U.S. publicly traded companies by market value (which naturally includes some tech powerhouses) also felt the brunt of the shakeout, dropping more than 5% for the week, which included a bounce back of over 1% on Friday.

What Stake customers did

When markets get a bit wild you get the most disparity between what customers are doing.

Here’s a quick look at the data from last week of the buys and sells by stocks & ETFs.

Red is buys. Pink is sells. Black dot is average.

What Jeff Bezos (not a Stake customer) did

Not much it appears. Poor Jeff Bezos (I can guarantee you no one has started a sentence with that before…), took a $9bn hit (on paper) from Thursday’s market shakeout when Amazon fell 6.2%. However, according to the man himself and to this CNBC article, he doesn’t think about the stock price. Bezos clearly knows markets go up and down with this great quote. Respect.

There’s no I in TEAM but there is in Atlassian

One of the most followed and owned tech stocks on Stake is Atlassian(TEAM). Stake users have flocked to the company’s stock since our doors opened. We’ve talked to a lot of you over the journey and gathered some of the reasons why you’re into Atlassian.

Here’s a summary of what you said:

• It’s a well-run company with a good model.
• Strong and active founders.
• It’s a great Australian story, a local business cracking the big leagues and powering on.
• I work at Atlassian. I’m a TEAMster.
• I’ve always wanted to own it but never had access.
• I knew when they sold HipChat to Slack they regained focus. I bought more then.

Rounding it out, here’s a more technical look at Atlassian stock price & the trading activity on Stake.

Best Buy of the Week

When markets hit the skids, there’s still peeps making cash on Stake. Although they are in the minority, some bears have come out of the cold as the last few weeks have provided some warmth.

So to the bear who bought the inverse Nasdaq ETF, ProShares Ultra Pro Short SQQQ, which rises in value when the Nasdaq 100 falls, on Friday 5th at a price of $11.84 to see a 16.13% return (based on yesterday’s close of $13.75).

A graph that BEARS all

Best Sell Of The Week

Anyone who sold shares in early October, specifically the 12 Stake users who sold out their entire positions on October 1 (the Nasdaq’s high) congrats. You’re ahead of the curve.

5 stocks dropping like stocks last week

1. Arbutus Biopharma (-54.05%)
2. Sears Holdings (-35.6%)
3. TDH Holdings (-24.5%)
4. Momenta Pharmaceuticals (-24.31%)
5. Trinseo S.A. (-23.6%)

5 stocks gaining like the grey hairs of first time investors

1. Corium International (+40.95%)
2. AcelRX Pharmaceuticals (+36.77%)
3. Companhia Energética de Minas Gerais-Cemig (+30.73%)
4. Esterline Technologies Corporation (+30.31%)
5. Proshares Trust Ultra VIX Short (+29.61%)