Both RBLX and SCHW are down significantly after today’s bear note.
Two stocks are having a particularly tough time today after two bear markets as the market continues to languish.
Roblox Corp (NYSE:RBLX) The stock is trading at $32.81, down 8.2% after Morgan Stanley downgraded the stock from “equal weight” to “underweight” and lowered its price target from $27.50 to $24. The company has capped its share price gains after recent outperformance. Year-to-date, RBLX is up 16.4% on him.
Of the 30 analysts covered, 12 are rated ‘buy’ or higher, 10 are rated ‘hold’, and 8 are rated ‘sell’ or lower. level. It’s also worth noting that short sales represent 5.5% of available float on Roblox stock.
shares of Charles Schwab Corp (NYSE:SCHW) It is down 5% to $77.31 at the last check after being downgraded 2x by BofA Global Research from ‘buy’ to ‘underperform’ and the target price was lowered from $92 to $75. The firm believes clients will adjust their portfolios in light of the interest rate hikes this year.
After yesterday’s close, Charles Schwab reported fourth-quarter earnings of $1.09 per share, in line with analyst expectations, with earnings lower than expected at $5.5 billion. After the event, more than three of his other analysts, including Barclays, lowered their price targets from $92 to $87.
Support at the $76 level seems likely to cap losses today as the stock is also grappling with the 320-day trendline that has provided support since late October. Year-on-year, SCHW decreased by 16.3%.