Episode 52: November was a tough one to beat!

Welcome to December! November was a tough one to beat with many pockets of the market hitting new records, such as the Dow hitting 30K but Wall Street analysts believe some stocks still have a lot of upside going forward.  Small caps are coming off their best month on record in November as positive vaccine developments drove investors into beaten-down segments of the economy. 

Apple shares moved higher Monday as Wall Street analysts signaled increasing confidence about the new generation of iPhones. Loop Capital Markets and Morgan Stanley said that early signs pointed to sales of the iPhone 12 surpassing expectations. 

Salesforce, the CRM powerhouse that recently surpassed $20 billion in annual revenue, announced today it is wading deeper into enterprise social by acquiring Slack in a $27.7 billion megadeal.  Although investors are reacting negatively as the shares dropped 6%, this was due to a statement made by the CEO of Salesforce Marc Benioff earlier this year that they were on hold with M&A plans and focused on integrating their current assets.  

Bitcoin roared back to hit a new record high above $19,800 on Monday, pushing 2020’s surge to over 170%.

Markets Close 

Dow 30 29,823.92 +185.28 (+0.63%)

S&P 500 3,662.45 +40.82 (+1.13%)

Nasdaq 12,355.11 +156.37 (+1.28%)

IPO 

DoorDash will hit the public markets next Wednesday.  We will be hosting a watch party for their IPO and stay tuned for the details. DoorDash expects to raise about $2.5 billion in its upcoming IPO after selling a planned 33 million shares at between $75 and $85 apiece. At the midpoint of that range, the listing would value the food delivery company at around $32 billion on a fully diluted basis—double the $16 billion valuation it received in June, according to PitchBook data. 

Finally, we have an interview coming this week with Deborah Medrano CFO of Dreamscape Immersive as part of our Influential Women Series. Have a great week and happy holidays!