Joel Elconin – The earnings picture so far and are social media stocks crashing?

October 26, 2021

Joel Elconin, Co-Host of the Benzinga PreMarket Prep-Show and Editor of the PreMarket Prep website joins us to recap earnings season so far and address the big declines in social media stocks.


On the earnings front, outside of the strong bank earnings the rest of the earnings picture so far has been mixed. Which is similar to the mixed market action recently.


When it comes to the social media stocks we have already seen some significant declines in the biggest of names over the past 2 months. Is this the start of a much larger crash in these stocks?




Click here to visit the PreMarket Prep website to follow along with Joel’s daily market commentary.

    Oct 26, 2021 26:21 AM

    West High Yield Resources has a very large magnesium property located in British Columbia very close to the American border with all infrastructure in place. On October 5th 2017 West High Yield entered into and signed a deal with Gryphon Enterprises to sell their Record Ridge magnesium property for $750 million US. On November 7th 2017 Gryphon Enterprises failed to make the first payment and the deal was cancelled. If you look at the 5 year chart you will see the stock price went parabolic over $2 at the time. West Yield must be thinking now, WOW did we dodge a bullet or what? because their property must be worth a lot more now. If it gets taken out it will be interesting to see at what price, they have a low float of 70 million shares. Remember DYODD DT

    Oct 26, 2021 26:36 AM

    In recognition of the mistreatment of Volcanic Gold, Big Ridge and Silver Tiger today, I added to each. That will show them.

    Oct 26, 2021 26:38 AM

    four hour gold futures chart… two days the gold did almost a classic 38.2% retracement of this entire recent move up since 9/30…Miners barely budged on gdx…So I have to think no one is in a rush to sell, yet…glta

    Oct 26, 2021 26:55 AM

    I am still thinking that things out in the real world are not so hot, despite all time highs in the General Markets. I think the PMs still represent a safe haven option when push comes to shove and the cryptos are just another investment option that probably have a step up on counterfeit fiat currencies. That is just me.

    Oct 26, 2021 26:28 PM

    Looks like today’s algos made their mind up what they were going to do today…last night or before. I will be glad when “intervention” in markets is not fashionable or for that matter legal.

    Oct 26, 2021 26:26 PM

    The action in gold this week has been just fine so far…

      Oct 26, 2021 26:52 PM

      This chart looks pretty good. Looking forward to rest of week.

      Oct 26, 2021 26:36 PM

      interesting chart…that apex watch it…it would not shock me if price targeted that for a sufficient scary moment ..then then then release the kraken…thank you Matthew

      Oct 26, 2021 26:43 PM

      i have not had time yet to listen…but it would not shock me if trumps new entry into social media is generating this sell off…he will be very happy he did what he did as will America…hope it is soon enough…was in my local sam’s club and ground hamburger was 4.78 per pound and it was 3ish a few months back…i know because i like hamburgers/healthburgers actually…sad sad …all the members said the same…they have lost all confidence in this current administration…glta

    Oct 26, 2021 26:31 PM

    The silver miners haven’t looked so good versus the gold miners in a year. It’s “risk-on” in the sector but most won’t believe it anytime soon.

    Oct 26, 2021 26:13 PM

    for the past 2 weeks Ramby has been taking inital positions in about 12, smallish pm SAND, BBB, IPT,B2Gold miners as well as 2 and 3 x leveraged vehicles. Hopefully this party gets started in earnest by the end of next month or sooner.

    Oct 26, 2021 26:56 PM

    Thanks, Confused. I didn’t know that Rambus had an interest in juniors as small as BBB and IPT. I don’t know what the rest of the year holds but there are good reasons for optimism based on the technical improvements during each of the last several weeks across the sector.
    IPT bumped into important fork resistance this week but looks ready for an intermediate term move that will see much higher prices.