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Luke Kawa

Peloton spikes after Eric Jackson says he’s long the stock at $4

Peloton jumped to session highs to trade up more than 7% after EMJ Capital’s Eric Jackson said he was long the fitness company at $4.

Jackson has a big following in the retail community after serving as the architect of the parabolic rally in online real estate company Opendoor Technologies from July through September.

His tweet at 11:56 a.m. ET coincided with a spike in the share price as well as volumes traded (which may well imply that algos are geared to buy any stock he comments favorably on). Shares of other companies he’s announced a bullish view on since the Opendoor episode have also seen a massive announcement effect, including Better Home & Finance in September and Nextdoor in December.

All three of those stocks are currently down 50% or more from their 52-week highs.

In a thread on X, Jackson indicated that Peloton screens as very cheap based on how much free cash flow it generates, and he sees recent insider purchases as an important vote of confidence in the company from its management team. In an updated tweet, he noted that what he previously thought were insider purchases were actually options exercises, but said that this had no impact on his outlook.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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