Daily Newsletter | December 15, 2023

December 15, 2023

TLDR

MARKET RECAP → Stocks rose on Friday as the technology-heavy Nasdaq (QQQ) closed at a fresh record high and marked its seventh consecutive week of gains.

COSTCO’S GOLDEN QUARTER → ? Costco (COST) strikes gold, selling over $100 million in gold bars in a quarter, mirroring rising gold prices and investor interest amid economic shifts.

DOCUSIGN CONSIDERS SALE → ? Amidst a modest recovery and competitive pressures, DocuSign’s (DOCU) shares jump on news of potential sale explorations, signaling a strategic shift for the e-signature giant.

Sean Horgan

Head of Investor Relations @ MoneyLion

$shorgan

Today’s S&P 500 Heatmap

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Today’s Top News

COSTCO’S GOLDEN QUARTER

? Costco (COST) sold over $100 million in gold bars in the quarter ending November 26. The 1-ounce bars, typically selling out within hours on Costco’s website, have become a popular item among online shoppers.

⭐ The gold bars, limited to two per Costco membership, received high customer satisfaction with a 4.9-star rating. Despite some complaints about state sales taxes, members generally expressed contentment with their purchases.

? Spot gold prices have risen about 12% this year, with JPMorgan (JPM) predicting a peak of $2,300 an ounce in 2024. Costco’s success in selling gold bars reflects a growing interest in precious metals as an investment, especially with the expectation of falling interest rates.

Source: shutterstock

DOCUSIGN CONSIDERS SALE

? DocuSign (DOCU) shares surged by up to 15%, closing up 12% on Friday, following a Wall Street Journal report that the e-signature software company is exploring a potential sale. The discussions about the sale are still in the preliminary stages.

? After a significant loss in value last year, DocuSign’s recovery in 2023 has been modest compared to its tech peers, with a 16% increase in stock value. The company, which went public in 2018, has faced slowed growth post-pandemic and competition from Adobe (ADBE) and Dropbox (DBX).

? DocuSign, with a market cap of about $13 billion, appointed former Google (GOOG) executive Allan Thygesen as CEO last year, followed by layoffs. The company’s stock plummeted 22% in March after announcing the departure of CFO Cynthia Gaylor and projecting a single-digit quarterly revenue increase.

Source: shutterstock

Together With Business Insider

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And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife)

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