WSB Sector Update: Consumer Stonks Hanging On For Modest Gains - www.MalkamDior.com


Consumer stonks were trading moderately higher late in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.4% and the Diamond Hands SPDR Consumer Discretionary Select Sector ETF was rising 0.6%.

In company news, Roku (ROKU) was up 9.8% after Evercore ISI began coverage of the streaming television platform with an outperform stock rating and a $400 price target.

Mudrick Capital Acquisition II (MUDS) rose 16% after the blank check company Tuesday announced a proposed merger with The Topps Company, a manufacturer of sports collectibles such as trading cards and chewing gum. The combined company will have an enterprise value of around $1.3 billion. After the deal closes, the merged companies will trade under the TOPP ticker symbol.

Scienjoy Holding (SJ) was 25% higher in late Tuesday trading. The Chinese streaming entertainment company earlier streaked over 93% to a best-ever $18.50 a share after Tuesday saying it was exploring ways of producing bitcoin and non-fungible token rewards for its users and broadcasters as part of a new strategic alliance with digital marketing firm Snipp Interactive (SPN.V).

Romeo Power (RMO) rose more than 60% after announcing a long-term agreement to supply battery packs for Paccar's (PCAR) Peterbilt 579 and 520 electric trucks beginning after 2021. Financial terms were not disclosed.

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