The fintech sector was rocked on Wednesday by the news that Twitter has filed the initial regulatory paperwork required for its platform to handle payments. PayPal (NASDAQ: PYPL) -- coincidentally the result of an early business venture by current Twitter owner Elon Musk -- declined by 3%, while SoFi Technologies (NASDAQ: SOFI) dipped by more than 2%. Twitter is a massively popular micromessaging site, but popularity and ubiquity don't necessarily mean financial success. Read More...
Motley Fool
Why QuantumScape Plunged Today
Shares of solid-state electric battery-maker QuantumScape (NYSE: QS) were in freefall today, down 14% as of 3:21 p.m EST. The company reported third-quarter earnings at the end of October, but today’s move was likely caused by a big analyst downgrade, sending the stock even lower than many other EV stocks, which also generally had a bad day today. This morning, Morgan Stanley analyst Adam Jonas issued a note on QuantumScape, downgrading his rating to the equivalent of a “sell,” while lowering his price target on the stock from $12 to just $4.
