On Thursday morning, U.S. markets opened in the red against the unsettled macro backdrop. Russian President Putin announced special military operations in Ukraine, setting in motion a full-scale invasion of the country.
Oil up, gold up and Bitcoin (BTC) down.
Here are five of today's trending stocks:
Yandex (NASDAQ: YNDX)
Investors are discussing the Yandex (NASDAQ: YNDX) share price on Thursday after the company's stock fell by -52.21% during the early session. Over the past year, Yandex NV (YNDX) has traded between $14.11 and $87.11. Year-to-date, the YNDX stock is down by -73.06%, while the S&P 500 is down -12.53% over the same period of time.
Yandex is a multinational Internet corporation primarily for Russian and Russian-language users. It's a search engine provider based in the Netherlands, but all Russian stocks are badly affected with Putin invading Ukraine.
Yandex recently reported Q4 2021 financial results with a 14.6m ruble loss.
Skillz Inc (NYSE: SKLZ)
Skillz Inc (SKLZ) is trending on Thursday as the stock falls 31%. Skillz is an online mobile multiplayer video game competition platform that is integrated into several iOS and Android games.
Over the past year, Skillz Inc (sklz) has traded between $2.16 and $36.50. Year-to-date, the Skillz Inc (sklz) stock is down by -66.58%, while the S&P 500 is -12.63% over the same period of time.
Unfortunately, the company spends far more than it makes and has accumulated significant debt. Q4 earnings disappointed with revenue missing analyst consensus estimates, and full-year revenue fell short of company guidance.
Rivian Automotive Inc (NASDAQ: RIVN)
Rivian Automotive Inc (NASDAQ: RIVN) stock is up 3.7% and trending. The stock is down 42% year-to-date, but Billionaire investors George Soros and Dan Loeb recently disclosed significant investments in the stock. This appears to be encouraging speculative investors to buy the dip. Partly owned by Amazon, Rivian is a well-hyped electric vehicle (E.V.) company.
The company is trying to obtain all the necessary authorizations to build a second production site in the U.S. state of Georgia. Rivian reports its financial results on March 10.
Moderna Inc (NASDAQ: MRNA)
Moderna stock is up over 13% in early trading. Q4 revenue beat Wall Street consensus. EPS ahead despite R&D expense higher than expected. The company announced a new share buyback program of $3bn.
Q4 revenues came in at $7.2bn, beating the FactSet consensus estimate of $6.8bn, and diluted earnings of $11.29 per share, beating FactSet consensus estimates of $9.96 per share.
Analysts highlighted the announcement of bivalent COVID booster, giving flexibility to the company's product deliveries depending on evolution into endemic with various strains.
Magnite Inc (NASDAQ: MGNI)
Online advertising company Magnite Inc (NASDAQ: MGNI) is trending on Thursday after the stock rose over 13%. The AdTech stock is rebounding as investors buy the dip. MGNI stock is down over 28% year-to-date. And on 23 Feb Magnite closed down -80.1% off its 52-week high vs the subsector average change of -28.6%.
Recently, Magnite launched Live Stream Acceleration (LSA), a technology it says is designed to help connected TV publishers to optimise their live ad inventory programmatically.