Happy Monday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟨 | US stocks were mixed Monday as investors moved cautiously ahead of NVIDIA’s earnings on Wednesday. The S&P 500 and Nasdaq rose, while the Dow ticked Dow-n.

• 📈 | One Notable Gainer: Tesla’s stock surged 5.6% on news President-elect Donald Trump wants to roll back self-driving regulations.

• 📉 | One Notable Decliner: Investors found the news less promising for the rideshare sector. Uber shares shed 5.4% on the day.

Plus, today’s sponsor wants to help you take your smartphone from “expense” to “income”.

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MARKET MOVERS

Super Micro, NVIDIA, Moderna

SMCI (+15.9%) Super Micro Stock Rises as Filing to Avoid Delisting Is Awaited (Barron’s)

NVDA (-1.3%) Nvidia Customers Worry About Snag With New AI Chip Servers (The Information)

MRNA (+7.2%) Moderna stock climbs as HSBC upgrades to Buy on underestimated pipeline potential (Investing.com)

DJT (+16.7%) / BKKT (+162.5%) Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring (CNBC)

CVS (+5.4%) CVS Adds Glenview’s Robbins to Board Under Activist Pressure (Bloomberg)

OVERHEARD ON THE STREET

Guardian: Spirit Airlines filed for Chapter 11 bankruptcy protection but will continue operations as normal following a pandemic-era slump and failed sale to JetBlue.

WSJ: Trump selected Brendan Carr, a telecommunications lawyer and regulator, to serve as the next chairman of the Federal Communications Commission (FCC).

Reuters: Boeing will lay off over 2,200 workers in Washington and Oregon as part of its plan to cut 17,000 jobs, or 10% of its global workforce.

CBS: The National Highway Traffic Safety Administration opened two new investigations into Ford recalls.

Barron’s: Netflix's broadcast of the Jake Paul vs. Mike Tyson fight has critics questioning whether the streamer’s live sports venture is struggling.

TOMORROW’S TRADE IDEA, TODAY

Weight Down, Stock Up

Light Snacks, Heavyweight

Simply Good Foods (SMPL), which specializes in low-carb, high-protein products, is becoming an industry heavyweight as consumer trends shift toward healthier options.

Its stock is down around 7% YTD. According to Barron’s, this is not a red flag, but rather a buying opportunity.

If the company is able to continue its sales growth and revitalize its Atkins brands, analysts say, the stock could prove to be extremely undervalued at current prices.

Growth Through Acquisitions

As low-carb diets came back into vogue amid the rise of weight-loss drugs, Simply has made several moves to maximize its reach to health-conscious consumers.

Protein snack maker Quest Nutrition, acquired in 2019, now accounts for around half of Simply’s sales and is seeing double-digit annual growth. And that was just the tip of the iceberg for the company’s strategic buys.

Last year, Simply added OWYN to its portfolio, too. The health food brand, which specializes in plant-based options, is expected to rake in $145 million in revenue next year alone.

Limited-Time Special

Despite these moves, the stock is trading at a relatively low 19x forward earnings and 2.4x forward sales — well below one of its biggest competitors, Premier Protein-parent BellRing (BRBR).

Simply’s current stock valuation is currently the lowest it has been since its 2017 IPO, and it is trading at levels not seen since the massive pandemic-induced selloff in 2020.

But Barron’s argues that this does not represent the company’s current value — nor its future potential.

Sponsored by Mode Mobile

Time-Waster to Money-Maker: Join Mode Mobile's $1T Revolution

Mode Mobile is flipping the script on smartphone use. While others drain your wallet, Mode's EarnPhone fills it. Their EarnOS platform has helped 45M+ users earn and save over $325M. Now Mode is targeting the global market of 7B+ smartphone users backed by retail giants and 28,000+ savvy investors.

Invest in Mode before their share price changes on 11/22 (and lock in up to 2X bonus stock).

🚀 Claim Your Piece of the $1T+ SmartPhone Market! 

This is a paid advertisement for Mode Mobile Regulation A offering. Please read the offering circular and related risks at invest.modemobile.com.

ON OUR RADAR

CNN: Novo Nordisk launched its obesity drug Wegovy in China, where over 180 million people are estimated to live with obesity.

Reuters: Nomura does not expect a rate cut at the US Federal Reserve’s December meeting.

Fox: Most US residents earning less than $50,000 annually are struggling to afford mortgage or rent payments, per Redfin, with some skipping meals to make ends meet.

CNBC: Billionaire investor Stanley Druckenmiller increased his stake in regional banks and healthcare last quarter, both of which have rallied post-election.

WSJ: Kering appointed new CEOs for its Saint Laurent and Balenciaga brands as the Gucci owner navigates a turbulent period for the luxury goods industry.

FRIDAY’S POLL RESULTS

Are you bullish or bearish on Amazon (AMZN) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨⬜️⬜️⬜️⬜️⬜️ 🐻 Bearish

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