Stocks To Watch: CZOO, RIG, OTLY
3:11 pm Tuesday, August 02nd, 2022
Shares of Cazoo (NYSE:CZOO) soared higher by as much as 200% after the company reported its second quarter and first half of the year results. Cazoo debuted on the public market last August through a special purpose acquisition company (SPAC) merger at more than $9 per share. Today, CZOO stock is trading in the $1 range. During Q2, the British online car retailer posted revenue of 333 million pounds, up 145% year-over-year (YOY). Meanwhile, vehicles sold were up 124% YOY to 23,955.
One of the more volatile stocks in the market this year, Transocean (NYSE:RIG) is actually up on a year-to-date basis. Indeed, being among the few stocks in the green thus far this year has already raised the profile of RIG stock among many investors. Today, Transocean is once again on the move higher, surging 18% at the time of writing. This move comes as the company announced two big contracts for deep water drilling. These contracts were announced yesterday, and the market appears to be pricing these contracts in, and then some, today.
One of the most disappointing stocks for investors in the alternative foods business has been Oatly (NASDAQ:OTLY). Since its initial public offering (IPO) a little more than a year ago, OTLY stock has been in a relatively consistent down trend. It has lost more than 80% of its value since its peak, with significant declines continuing to take place this year.
