BayStreet.ca

BayStreet.ca Media Corp, established in May 1998, is a prominent online publisher in Canada. It provides original, relevant, and thought-provoking commentary, analysis, and opinions designed to assist investors in making well-informed investment choices.

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Why Tesla Shares Slid By 14%

1 day ago | baystreet.ca | Chris Lau

Thursday was a turning point for Tesla (TSLA) Shares lost 14% of its value when CEO Elon Musk took his words against the President one step further. In mid-day trade, Trump expressed disappointment at Musk’s disapproval of his bill. TSLA stock sold off when the President contemplated ending government contracts tied to companies owned by Musk. The exchange of words comes at a bad time for Tesla. The firm has not yet launched its robotaxi service in U.S. markets.
Today's Hot Stocks To Watch: COO, DLTR, and MDB

1 day ago | baystreet.ca | Chris Lau

The decline in shares of MongoDB (MDB) potentially ended. Shares peaked in December 2024 at over $360. The descent accelerated when the firm posted quarterly results in March. Earlier this week MongoDB posted first-quarter revenue momentum. Revenue increased by 22% Y/Y to $549 million. Adjusted EPS was $1.06. MongoDB Atlas drove revenue after it rose by 26% Y/Y. Short-sellers who bet against the stock at $180 - $200 made a costly mistake. MDB stock closed at $225.38.
What is Wrong With Trump's Big, Beautiful Bill

2 days ago | baystreet.ca | Chris Lau

After Tesla (TSLA) CEO Elon Musk exited his position at DOGE, he criticized the heavy spending proposed in Trump’s spending bill. The big, beautiful, bill is expensive. The Congressional Budget Office estimated that the tax-and-spend package would add $2.42 trillion to the U.S. fiscal budget deficit over the next decade. The government would face a revenue reduction of around $3.7 trillion. Outlays would fall by $1.25 trillion through 2034.
Stocks to Watch Thursday: MRVL, NXPI, and More

2 days ago | baystreet.ca | Chris Lau

After Nvidia (NVDA) surpassed Microsoft (MSFT) by market capitalization size, investors increased their holdings in chip stocks. Marvell Technology (MRVL) gained 6.32% on Wednesday to close at $66.30. The stock is on the verge of breaking out of the trading range. Investors should exercise caution in building a position in MRVL stock. In the last quarter, the company re-affirmed its product pipeline. As a result, investors should not expect any news between now and its analyst event on June 17.
Watch CrowdStrike, Dollar General, and Kenvue

3 days ago | baystreet.ca | Chris Lau

After trading at a premium since February, cybersecurity firm CrowdStrike Holdings (CRWD) will open down by around 6% today. The firm posted strong revenue growth, with annual recurring revenue topping $4.4 billion in the first quarter. CRWD stock is under pressure from the negative operating leverage. Its 19% top-line growth (on revenue of $1.1 billion) at a valuation of 25 times sales is excessive.
Mid-Week Stocks To Trade: WFC, Nvidia, and HPE

3 days ago | baystreet.ca | Chris Lau

Stock markets might waver in mid-week trading today as renewed fears of tariff risks rise. On Tuesday evening, President Trump signed an order to impose tariffs on steel and aluminum imports at a rate of 50%. This is up from 25%. This tariff action will raise tensions between the U.S. and its two trading partners, China and the European Union. Watch the Euro (FXE), the Japanese Yen (FXY), and the Canadian dollar (FXC). In Canada, the bank will decide on its interest rate policy.
Why "TACO" Is Fiction

3 days ago | baystreet.ca | Chris Lau

When the internet trended TACO – Trump always chickening out – this abbreviation is fiction. It characterized Trump tariffs as falling or declining. However, they are still at least in the double-digit percentage and could rise. Effective tariff rates receded on China after the truce negotiated in Geneva. However, the current effective rate is 17.8%. These are levels not seen since before 1950. American consumers will end up paying more for imports.
Tuesday's Trades: Credo, APLD, and Snowflake

4 days ago | baystreet.ca | Chris Lau

After markets closed on Monday, Credo Technology (CRDO) posted a strong increase in revenue. CRDO stock gained 12% in after-hours trade and should open strongly this morning. Credo supplies connectivity solutions for the hyperscale data center, 5G, and the artificial intelligence/machine learning markets. In the fourth quarter, revenue surged by 179.7% to $170.03 million. In Q1, revenue of $185 million to $195 million is above analyst consensus estimates.
Buy Elf Beauty, Avoid HP

4 days ago | baystreet.ca | Chris Lau

After Ulta Beauty (ULTA) posted strong results, shares rose. Similarly, e.l.f. Beauty continued its uptrend after it posted fiscal fourth-quarter results. Elf earned $0.78 a share (non-GAAP). Revenue increased by 3.6% Y/Y to $332.65 million. The firm did not provide its financial outlook for the fiscal year. It cited the wide range of potential outcomes associated with tariffs as the reason. ELF stock still rose after the report and the $1 billion acquisition announcement. It is buying Rhode.
Weekly AI Stock Bubble Watch

4 days ago | baystreet.ca | Chris Lau

Concerns about an artificial intelligence stock bubble continued to wane. The mega capitalization firms announced large deals in Saudi Arabia after Trump’s visit. This solidified Microsoft (MSFT), Nvidia (NVDA), and Advanced Micro Devices (AMD) as among the leaders in the AI sector. Investors should anticipate Oracle (ORCL) and Amazon (AMZN) benefiting from Saudi Arabia-based firms increasing their commitment to building out infrastructure to support AI.