Today's video focuses on recent news affecting Cerence (CRNC -2.05%), Facebook (META 0.49%), Alphabet (GOOGL -0.94%) (GOOG -0.94%), and Mercadolibre (MELI 1.38%). Here are some highlights from the video:
- Cerence is a company focusing on conversational AI in smart cars. In September, Cerence won numerous contracts in the electric vehicle market. On Sept. 28, Cerence announced that Vietnamese EV company Vinfast had selected Cerence to power its intelligent voice assistant. On Sept. 20, Cerence was chosen for some of Audi's electric vehicle lineup.
- Facebook's stock price has seen a slight correction in recent weeks due to numerous events. These include federal hearings and the effect on Facebook's advertising metrics of changes Apple (AAPL -0.34%) has made to how it collects user data. Facebook has some challenges in the short term, but investors are also excited about Facebook's push for technology improvements in AR, VR, and the metaverse.
- Mercadolibre's stock price has also seen a slight correction. Unlike Facebook, Mercadolibre has not seen any significant changes to its business. Two reasons for the downturn in stock price could be the overall volatility in the market and a recent downgrade on Sept. 27 by an analyst.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closed prices of Oct. 1, 2021. The video was published on Oct. 3, 2021.