Live Nation Entertainment Inc. (DOG)
LYV - NYSE
Ticketmaster loves its fees. There’s the admission fee, service fee, facility fee, order processing fee. What’s next? Breathing fee? Fee for not paying enough fees fee? Well, the days of Ticketmaster’s outrageous fees may be numbered. Shares of Live Nation Entertainment Inc., Ticketmaster’s parent, fell after the Wall Street Journal reported that the U.S. Department of Justice is preparing an antitrust lawsuit alleging that the concert promotion company has used its market dominance to undermine competitors. Regardless of the outcome of the case, one thing is certain: the lawyers will be collecting a lot of fees.
Tesla Inc. (DOG)
TSLA - Nasdaq
“Paging Elon Musk. Please stop posting stupid memes on X and report to the Tesla boardroom for an emergency meeting about the company’s crashing stock price.” While the world’s most erratic billionaire spends his days trying to rile up liberals on his social media platform formerly known as Twitter, shares of Tesla Inc. – the company formerly known as a good investment – have cratered about 40 per cent this year. The stock sank to a fresh 52-week low after Deutsche Bank downgraded the shares, citing a Reuters report that the EV maker had cancelled plans to build its inexpensive Model 2 car. With the company also reducing its work force by more than 10 per cent globally in the face of growing competition and slowing EV demand, Tesla is a mess-la.
Lion Electric Co. (DOG)
LEV - TSX
If you play with a Lion, you could get eaten alive. Shareholders of Lion Electric Co. have lost one limb after another as the EV maker faced a litany of challenges, including the COVID-19 pandemic, supply chain disruptions, inflation, high interest rates and soft demand for its electric trucks. This week, investors lost another chunk of flesh after Lion said it is cutting 120 employees – nearly 10 per cent of its work force – citing delays of disbursements from the federal government’s $2.75-billlion Zero Emission Transit Fund to support purchases of electric school buses, the company’s main product. With the shares down more than 90 per cent from their 2021 peak, there’s blood everywhere.
PowerSchool Holdings Inc. (DOG)
PWSC - NYSE
Test your knowledge of business! PowerSchool Holdings Inc. refers to: a) a holding company that owns hockey power-skating schools across North America; b) a school that teaches people from all walks of life how to climb high-voltage electrical towers “for fun and fitness”; c) an education technology company whose shares fell after it was targeted by short seller Spruce Point Capital Management LLC, which alleged that PowerSchool “is experiencing ongoing headwinds due to issues with student privacy laws, financial strain from aggressive accounting tactics and depletion of federal funding.” Answer: c.
Netflix Inc. (DOG)
NFLX - Nasdaq
Gotta love momentum stocks – until the momentum starts going against you. Shares of Netflix Inc. dropped after the streaming giant announced first-quarter results that topped analysts’ estimates but gave a weaker-than-expected forecast for the second quarter. Further rattling investors, Netflix said it would stop reporting quarterly subscriber growth – a number closely followed by Wall Street – beginning next year, having urged investors to focus on revenue and operating margins to assess the company’s performance. With Nextflix shares down more than 10 per cent from its April high and other growth stocks such as Nividia Inc. and Tesla Inc. also suffering double-digit losses in recent weeks, momo has suddenly become a no-no for investors.
John Heinzl