Daily Archives: February 27, 2020

Proceed with caution, value-seeking investors. The hammer job done on stocks at the hands of the spreading coronavirus may just be getting started if history and common sense are any guides.

SunTrust chief markets strategist Keith Lerner thinks there is another 5% to 7% of downside possible for the S&P 500. His call is supported by two factors.

The first is a heavy dose of market history. Lerner notes that since the current bull market began in March 2009 (S&P 500 up 400% since then) there have been 19 pullbacks of at least 5%. Every pullback came with uncertainty and bad news, Lerner says, pointing to several virus-related outbreaks such as the Swine flu in 2009, the Ebola scare in 2014 and Zika in 2016. These corrective periods have lasted an average of 47 days and have seen an average pullback of 9.4%.

The current correction spurred by fears of the coronavirus morphing into a global pandemic where $2.5 trillion has been wiped off the value of U.S. stocks since last Wednesdays high per S&P data is approaching the average bull market percentage pullback. But the losses have come in only four days and there remains significant uncertainty as to how bad Corporate Americas profits will be hit.

Trust me, I talk to loads of top executives off the record they are saying its hard to even estimate the impact not only in the first quarter, but into the summer. But you could hear the concern in their voices.

That uncertainty and financial risk has to get priced into stocks. It likely will as infection and death tolls from coronavirus stand to rise globally in the weeks ahead.

It hasn't been all easy money during the latest bull market.

Several sources on the Street have also told me the extreme selling this week which has approached 2,000 points on the Dow Jones Industrial Average in two days has been fueled mostly by hedge fund selling. These are the algo driven hedgies that have plowed into bull market momentum names such as Advanced Micro Devices, Amazon, Netflix, you name it. The next shoe to drop in markets could be institutions lightening the load on equities both growth and value amid a material reassessment of the coronavirus-related risk factors.

Up to this point, said long-term minded institutions have stayed upbeat on the markets on the view the coronavirus impact would be isolated to the first quarter. Perhaps some negatives in the second quarter, but by the back half of the year it would be in the rearview mirror. Definitely no 2020 impact, in their view.

Wed also highlight that although sentiment has become less bullish, it has not fallen very much at all, says Miller Tabak strategist Matt Maley. For instance, the Investors Intelligence data showed that bullishness had only fallen from 54.7% to 49.1% and the spread between bulls & bears was still at 29.9%.Therefore were a long way from seeing this reading move to a bearish pluralitywhich would be a much more bullish sign for the intermediate/long-term prospects for the stock market.

A folly view by institutions, as they are beginning to realize.

The upside right now? The nearly 11-year bull market in stocks is unlikely dead.

Even though this pullback has been fierce, its not necessarily unusual following the sharp gains we had seen or in the context of this bull market, says Lerner. Such pullbacks, while always uncomfortable, are the admission price to the stock market and participating in the potential for higher returns over time.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Watch The First Trade each day here at 9:00 a.m. ET or on Verizon FIOS channel 604. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.

Continue reading here:

Coronavirus has ravaged the stock market and the extreme selling may just be starting - Yahoo Finance

Singer Duffy revealed that she had been raped, drugged and held captive in a Tuesday Instagram post.

You can only imagine the amount of times I thought about writing this, the 35-year-old Welsh singer, whose real name is Aimee Duffy, wrote. The way I would write it, how I would feel thereafter. Well, not entirely sure why now is the right time, and what it is that feels exciting and liberating for me to talk. I cannot explain it. Many of you wonder what happened to me, where did I disappear to and why.

In 2011, several years after her hit single Mercy from the album Rockferry, the singer essentially fell off public radar. A journalist contacted me, he found a way to reach me and I told him everything this past summer. He was kind and it felt so amazing to finally speak, she explained. The truth is, and please trust me I am ok and safe now, I was raped and drugged and held captive over some days.

The Grammy-award winner continued, Of course I survived. The recovery took time. Theres no light way to say it. But I can tell you in the last decade, the thousands and thousands of days I committed to wanting to feel the sunshine in my heart again, the sun does now shine.

She also addressed unspoken questions from fans: You wonder why I did not choose to use my voice to express my pain? she said. I did not want to show the world the sadness in my eyes. I asked myself, how can I sing from the heart if it is broken? And slowly it unbroke.

Duffy promised to share more information in a spoken interview, adding, I have a sacred love and sincere appreciation for your kindness over the years. You have been friends. I want to thank you for that. She also asked that fans respect the privacy of her family and to support me to make this a positive experience.

There is not an abundance of recent information on Duffy, who, after her follow-up album Endlessly, recorded three songs for the 2015 film Legend. In December, she posted a Facebook photo with the mysterious caption 2020, prompting fans to beg, Please come back and to interpret it as a sign of an upcoming album.

On Tuesday, fans retreated to that Facebook post, writing, You are a strong woman Duffy and You were quite right to take as long as you needed, the most important thing is your wellbeing and health which should always come first.

Read more from Yahoo Entertainment:

Want daily pop culture news delivered to your inbox?Sign up herefor Yahoo Entertainment & Lifestyle'snewsletter.

See the original post here:

Singer Duffy reveals she was 'raped, drugged and held captive' in Instagram post - Yahoo Entertainment

Even for the fortunate ones not directly affected by the rapidly spreading coronavirus, try as you might, it is impossible to ignore the impact it is having on all facets of life across the globe right now; from the obvious and most pertinent health issues, to travel and across most industries, global supply chains and the worlds major economies have been negatively affected. The stock markets, of course, have been hit, too; Along with international markets tumbling over the past few days, all 3 major US indexes posted sharp losses this week.

The way the cookie crumbles, though, means that some will always be better positioned than others to cushion the blows. In what often feels like a macabre twist of fate, some companies actually stand to gain from the disruption, while others will lose share.

Taking this into account, 5-star Needham analyst Laura Martin recently assessed 2 names under the firms coverage on which the recent outbreak could, or is having a positive effect. After using TipRanksStock Screener tool, we found out each boasts a substantial upside potential from the current share price. Were talking more than 25% here. Let's take a closer look.

Roku (ROKU)

Is Roku the new Amazon? Or maybe Netflix? These are the sort of questions that have been bandied about recently, following what can only be described as a market trouncing performance. The streaming player leader was one of 2019s star performers, with its share price appreciating by almost 350% over the year. Roku stock, though, is currently trading at 30% less than last summers all-time high. Is now the right time to pull the trigger on the streaming stalwart?

It is, according to Martin. The 5-star analyst counts a number of reasons why she believes Roku has the best strategic position in AVOD.

Roku currently takes share of 45% of US streaming homes, which amounts to 37 million users. As the Roku Channel sells 100% of content it gets from nearly every AVOD app on its platform, it implies Roku has better data than any single app. Take this one step further, and as data points increase, ad targeting gets more finely tuned. Any competitor with fewer or lower quality data points than Roku quickly falls behind making it nearly impossible to catch up with Roku over time, Martin states. Secondly, Martin argues, integrated hardware (such as Roku TVs and sticks) and software (i.e., advertising revenue) creates a stronger barrier to entry than just owning software (ie, an AVOD app) alone.

Martin argues her bullish case for Roku could further be bolstered by, ironically, the coronavirus. The 5-star analyst states that should the virus spread any further in the US, folks will stay in, watch more TV and therefore, raise the number of hours viewed and ad units available for Roku to sell above our current revenue and profit projections.

As a result, Martin reiterates a Buy rating on Roku stock along with her price target of $200. Should the target be met, possible gains of 68.5% could be in the cards. (To watch Martins track record, click here)

Looking at the consensus breakdown, Rokus 7 Buys, 2 Holds and 2 Sells coalesce into a Moderate Buy consensus rating. At $153.5, the average price target could present possible upside of 29% over the next 12 months. (See Roku stock analysis on TipRanks)

Story continues

Peloton Interactive (PTON)

Following a disastrous entry to the market last year, in which Peloton posted one of the worse trading debuts of the decade, the stationary bicycle company has been taking big strides forward. Despite a very healthy growth curve, though, at $27.11, Peloton stock is still trading below its IPO price of $29. According to Martin, though, this wont be the case for long.

The company is growing in popularity as its latest earnings report can attest. Growth of 77% year-over-year and a 94% customer retention rate are impressive figures in anyones book. Total memberships have now hit 2 million accounts, while over the past year, the number of connected fitness subscribers paying monthly premiums has nearly doubled.

The case for Peloton using the coronavirus to its advantage is a simple one, according to Martin: "with new COVID-19 hotspots in South Korea, Italy and Iran, we believe certain US consumers will be less comfortable over time going to their gym and more likely to order a PTON bike to stay home. This may drive higher unit sales and subscription revenue in 2020 than are currently in our estimates."

Martin argues her bullish thesis further by noting, Each of PTONs Active Accounts has about 2.8 users, so PTON screens will reach more than 2mm unique users each month by the end of FY20. PTON's long engagement lengths drive low churn at under 1% per month, despite PTONs new free Home Trial for 30 days. So far there have been minimal returns, which drives faster adoption and subscription revenue growth. We assume that hardware adoption continues to grow and that the digital SVOD service creates a low-risk onramp into the PTON ecosystem.

All the above means Martin keeps her Buy rating and $40 price target as is. The figure presents possible upside of 47.5%.

The Street pauses its workout and nods in agreement. PTONs Strong Buy consensus rating breaks down into 16 Buys and 2 Holds. The average price target is $37.11 and implies an additional 37% could be added to the share price over the coming months. (See Peloton stock analysis on TipRanks)

Visit link:

2 Stocks to Benefit from the Coronavirus Outbreak - Yahoo Finance

A long-awaited food marriage becomes official.

Starbucks (SBUX) has jumped on the plant-based food craze, adding Beyond Meat (BYND) to its breakfast menu in Canada.

Beginning March 3, Starbucks more than 1,400 Canadian stores will feature the Beyond Meat, Cheddar and Egg Sandwich on its core menu offering.

We're thrilled that Starbucks is introducing the Beyond Meat breakfast sandwich as a core menu item at all stores across Canada. The Beyond Breakfast Sausagepatty is made using simpleplant-based ingredients without GMOs. We believe the offering delivers onour promise of enabling consumers to Eat What You Lovewhile also enjoying thenutritionaland environmental benefits of plant-basedprotein. We greatly appreciate Starbucks' collaboration and shared vision around the launch, Beyond Meat founder and CEO Ethan Brown told Yahoo Finance.

Earlier this month, Starbucks COO Rosalind (Roz) Brewer said the company would introduce a plant-based patty in both the U.S. and Canada this year. Promise delivered.

Beyond Meat, Cheddar and Egg Sandwich will be available at Starbucks Canada stores on March 3. [Credit: Beyond Meat]

The coffee giant said its customers had asked for more alternative milks and plant-based options.

The combination of those pairings is significant for us in terms of how we think about what the customer is asking for us to develop, Brewer said on the fiscal first-quarter earnings call.

The move may also be part of Starbucks broader ambition to mitigate climate change. In a January letter, CEO Kevin Johnson outlined a number of action steps to be more sustainable, including expanding plant-based menu options and migrating toward a more environmentally friendly menu.

As for Beyond Meat, its yet another major fast food win in a series of high-profile deals to kick off 2020.

In January, Yum! Brands expanded a test of Beyond Meats plant-based fried chicken at KFC to Charlotte, North Carolina, Nashville, Tennessee and Kentucky. About 66 KFC restaurants now have the product. Dennys also said last month it will roll out Beyond Meats products to 1,700 restaurants.

Not only do key deals such as this bring in money for Beyond Meat, but it sends a signal to the investors it could easily handle larger distribution deals from a production standpoint. And that could mean some surprisingly strong profits later this year and into 2021.

The only question for Beyond Meat: How does the launch of a very similar product at Starbucks impact the companys relationship with Dunkin Brands. Maybe it doesnt, but its worth watching moving forward given the importance of the relationship to both parties.

Keep in mind it was Dunkin that stepped up to the plate first last year and inked a deal for a Beyond Meat breakfast sandwich (its now served nationwide). Beyond Meat worked closely with Dunkin to specially formulate the plant-based sausage patty to make it taste similar to Dunkins peppery meat offering. In the process, Dunkin CEO Dave Hoffmann and Beyond Meats Brown have become quite tight.

As they would say on Twitter, #FastFoodDrama. Its tough sometimes being so popular.

Julia La Roche is a Correspondent at Yahoo Finance. Follow her onTwitter. Brian Sozzi is an editor-at-large and co-anchor ofThe First Tradeat Yahoo Finance.Follow Sozzi on Twitter@BrianSozziand onLinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.

Read the rest here:

Starbucks adds Beyond Meat to its menu across 1,400 Canadian stores - Yahoo Finance

As the coronavirus outbreak continues to spread around the globe, including in the U.S. where 57 people have tested positive for the virus, many people are buying surgical face masks to protect themselves. And demand for the products has continued unabated since the initial reports of the virus began hitting the news.

Retailers tell Yahoo Finance they are continuing to see steady demand for items including face masks and hand sanitizer in many of its stores, while manufacturers are working to further increase output to countries around the world.

But simple surgical masks won't prevent wearers from the virus, which has infected thousands across the globe, killed nearly 3,000 people, and spread to 38 other countries outside of China including the U.S. If anything, those who are already infected should be wearing masks.

"We know that those types of surgical masks are important to prevent transmission from someone with infection to other people, and that's pretty routine practice for infections that are spread by respiratory droplets like viruses," Dr. Jeffrey D. Klausner, professor of medicine and public health at the David Geffen School of Medicine at UCLA, told Yahoo Finance during a January interview.

"However, there is no data to suggest that in people who are not infected that they provide any protection to prevent infection, to prevent exposure in terms of the typical surgical type mask," he added.

The coronavirus has now infected roughly 82,00 people, and has led to the lockdown of millions of residents around the epicenter of the outbreak in Wuhan, China. On Tuesday, Nancy Messonnier, the Centers for Disease Control and Preventions director of the National Center for Immunization and Respiratory Diseases, told reporters that its not a matter of if, but when the coronavirus, known as COVID-19, spreads across the U.S.

A spokesperson for Home Depot (HD) told Yahoo Finance that the company is continuing to limit the number of masks sold to consumers to 10 per customer. At Walgreens, meanwhile, demand for items like face masks and hand sanitizer remains high.

Honeywell, which produces items like face masks, told Yahoo Finance that it has increased production for its products and will continue working to ensure it has enough supplies available for consumers.

It makes sense that those afraid of contracting the virus would want to take preventative measures to keep themselves safe. But, unfortunately, most face masks won't protect you against the virus.

The masks can, however, prevent you from spreading coronavirus to other people.

"The viruses are too small, and the air readily flows around the bridge of the nose and on the sides of the mask," Klausner explained. "So those masks are not really designed to prevent people from inhaling viruses. What they are designed to do is to prevent people from coughing or sneezing respiratory viruses that they might have outward."

It's important to note, Klausner explained, that the coronavirus is a respiratory virus, not an airborne illness like, say, measles, which can linger in an area for some time.

In order for someone to pass coronavirus to another person, the infected individual would need to cough or sneeze near the uninfected person. Those respiratory droplets, as Klausner called them, can then float toward anyone within a 3- to 6-foot dispersal area, before quickly falling to the ground.

There are some masks that can prevent people from catching coronavirus and other respiratory illnesses, though. Theres evidence to show that respirators, such as those with an N95 rating, can be effective, Klausner said. But they're also uncomfortable to wear for a very long time.

There could be some good to more people wearing face masks, however. According to Klausner, the uptick in awareness of the virus could lead more people to wash their hands, and avoid touching their eyes, nose, and mouth. And that may be among the most effective means of prevention available.

An earlier version of this post ran on Jan. 31.

More from Dan:

Got a tip? Email Daniel Howley at danielphowley@protonmail.com or dhowley@yahoofinance.com, and follow him on Twitter at@DanielHowley.

Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.

Read the original here:

Most face masks wont protect you from the coronavirus - Yahoo Finance

Warren Buffett advocates buying stocks on the cheap more aggressively so during periods of extreme weakness and holding them forever. But for the average investor absent Buffetts billions, Mondays coronavirus-triggered stock plunge may be a point in which to raise some cash and ride out the economic storm.

It does seem a bit like the fog of war, Brown Brothers Harriman Chief investment strategist Scott Clemons said on Yahoo Finances The First Trade, about the near-term global economic outlook. The other thing we are being reminded of is how very tight and short supply chains are. The ripple effect of this we will see more in corporate earnings than we are in domestic U.S. activity. But yes, the economic hit and to earnings is going to be meaningful we dont know yet, its still sort of the fog of war at this point.

And judging by Mondays action in the markets, investors hate dealing with fog.

TheDow Jones Industrial Average crashed nearly 1,000 points in early afternoon trading amid rising coronavirus fears. Gold has climbed to seven-year highs. The 30-year Treasury note has hit a record low. The 10-year Treasury note dove to a paltry 1.39%.

Traders have flooded into the U.S. dollar as a safe haven, with the strength likely to add further pressure to multinational company earnings in the first quarter. Thats the last thing big companies need as they contend with rising supply-chain costs, thanks to the coronavirus.

As for equities, momentum stocks such as Advanced Micro Devices and Nvidia have been hammered Monday. Companies exposed to global travel like Disney and American Express also fell hard. The lone Dow component in the green, Yahoo Finance parent company (and long-time safe haven) Verizon Communications.

The weekend news flow on coronavirus justifies the full-blown risk-off session.

Italys confirmed coronavirus cases spiked to 150 on Sunday from three on Friday. The country has quarantined several cities in the hopes of preventing the spread of the disease. South Korea has reported hundreds of fresh infections. Iran has said at least 12 people have died. Meanwhile, the numbers of those infected continues to rise in China and Japan.

Workers wearing protective suits spray disinfectant as a precaution against the coronavirus at a market in Bupyeong, South Korea, Monday, Feb. 24, 2020. South Korea reported another large jump in new virus cases Monday a day after the the president called for "unprecedented, powerful" steps to combat the outbreak that is increasingly confounding attempts to stop the spread. (Lee Jong-chul/Newsis via AP)

What could be a budding global pandemic stands to wallop the bottom lines of companies. While investors ignored coronavirus for most of 2020, they are now realizing S&P 500 earnings estimates remain way too high. Ditto the valuations on those projected earnings, which recently climbed back to 2002 highs.

We are now in a bout of economic uncertainty. This is the fourth biggest slowdown of this cycle, and the market is going to reflect that, said Invesco global market strategist Brian Levitt. This is a time where you are a more tactical investor to be in the more defensive parts of the market. Health care tends to be one of those parts of the market.

Clemons added, We are telling clients to get your flu shot, wash your hands and stay invested.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Watch The First Trade each day here at 9:00 a.m. ET or on Verizon FIOS channel 604. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.

View post:

Coronavirus outbreak is 'like the fog of war' for investors in the stock market - Yahoo Finance

Stocks have seen two days of steep losses amid concerning new reports about the spread of coronavirus to countries like Italy, Iran, South Korea and Switzerland. The Dow Jones Industrial Average (^DJI) fell by more than 1,000 points on Monday, its worst day in two years. On Tuesday, stocks fell again, for two-day losses of more than 1,800 points.

Bitcoin and other cryptocurrencies had a brutal two days as well, calling into question a popular pitch some crypto believers push: that cryptocurrencies are a safe haven, an asset class that offers stability and wealth preservation during periods of heightened uncertainty and market volatility.

Amid the rout in equities on Monday afternoon, bitcoin (BTC) was down by more than 3%, ether (ETH) was down 3%, XRP was down 5% and bitcoin cash (BCH) was down by nearly 7%, creating a sea of salmon-pink on our Yahoo Finance cryptocurrency heatmap, which displays the entire crypto market as a series of color-coded boxes, with the color reflecting each coins movement in the past 24 hours and the box size representing each coins market cap.

On Tuesday, coins fell again, with bitcoin down more than 3% and ether, XRP, and bitcoin cash each down by nearly 6%.

Yahoo Finance crypto heatmap as of 4:30pm EST on Feb. 25, 2020, at the time of the stock market closing bell. (Cryptocurrency markets never close.)

Of course, two down days do not make or break a market trend theory, and bitcoin believers argue that bitcoin has proven itself as a store of value over the longer run.

Even after Monday and Tuesday, bitcoin is up 34% in 2020 so far, and it is up 640% in the last three years. Bitcoin skeptics, on the other hand, will always compare the asset to its all-time-high of nearly $20,000 at the end of 2017, a level it has not neared since.

The coronavirus is exactly the kind of health crisis that should, in theory, boost the value of bitcoin and cryptocurrencies. In the past, bitcoin has risen during bank crises in countries like Greece, a sign that people without access to the banking system do see it as an alternative option.

Even before coronavirus, news out of China was already a major driver of cryptocurrency trends in the past six months as Xi Jinping has made clear his aim for China to develop a state-backed cryptocurrency, something that Facebook CEO Mark Zuckerberg has warned about and that even Fed Chair Jay Powell has been watching.

SHANXI, CHINA - FEBRUARY 24: (CHINA MAINLAND OUT)The bank workers sanitize the cash to kill the novel coronavirus on 24th February, 2020 in Taiyuan,Shanxi,China.(Photo by TPG/Getty Images)

Bitcoin is often called digital gold, but the price of gold rose this week while stocks and bitcoin fell. It might be most correct to conclude from the last two days that crypto looks uncorrelated to equities, but the jury is still out on whether it is a safe haven asset.

This is still a very nascent, volatile asset class, says Frank Chapparo of bitcoin news site The Block. If Im an investor and I want predictability in my portfolio, Im not going to be outsized allocating to bitcoin and other digital assets. Now, that doesnt mean that this narrative of bitcoin being a hedge against global economic insecurity or political insecurity [is wrong]. Thats still something that could play out over the next ten, fifteen, twenty years.

Story continues

Here is the original post:

Bitcoin tumbles along with stocks amid coronavirus, questioning 'safe haven' theory - Yahoo Finance

You know its NFL scouting combine week when we hear talk of how big a quarterbacks hands are.

One of the more curious phenomena of the combine coverage is the overreaction to hand size. Good or bad, youre going to hear more about how big a quarterbacks hands are than you ever expected.

In the case of presumptive first overall pick Joe Burrow, the news of his hand measurement will be a part of the conversation surrounding his draft stock. And the news was not great.

LSU quarterback Joe Burrow will be a focal point of the NFL scouting combine this week. (AP Photo/Gerald Herbert)

Burrows hands were measured at 9 inches from the tip of his thumb to his pinkie, which is considered small for a quarterback.

That is smaller than the other top prospects in this quarterback class, including Tua Tagovailoa, whose hands were curiously measured at different sizes.

And while there are a lot of jokes about the absurdity of the attention paid to hand size for quarterbacks, it matters to some NFL evaluators.

Burrow chimed in on the measurement Monday evening, joking that he is considering retirement because of his tiny hands.

He also got sympathy from at least one NFL quarterback.

Jared Goff also had a 9-inch hand. He still went No. 1 overall in the draft and has had a good start to his career with the Los Angeles Rams.

Nine inches seems to be the cutoff before NFL evaluators really freak out, though some believe thats too small to play in inclement weather. Its not ideal if Burrow goes to the Cincinnati Bengals at No. 1 overall. Well see if the Bengals care how big Burrows hands are (though we still dont seem to know for sure if Burrow wants to play in Cincinnati either).

Regardless, we know its combine week. When else would hand measurements matter so much?

More from Yahoo Sports:

View original post here:

Joe Burrow's hand measurement is going to be a big topic of conversation - Yahoo Sports

Please enable Javascript to watch this video

INDIANAPOLIS, Ind- Indianapolis is getting ready to welcome thousands of basketball fans for the NBA All-Star game next season, but apparently some people want that to change.

"Chicago was cold, but Chicago is one of the best cities in the nation, we get that," Lajethro Jenkins said in a video tweeted out by Yahoo Sports NBA on Thursday. "But Indianapolis... why?!"

If you plan to post a video bashing a major US city... prepare for the backlash. Jenkins was about to receive his fair share.

What?! This is the Hoosier state man, we bleed basketball around here man! said Evansville resident Hunter Taylor in response to seeing the video. "Not only do you have the basketball state around here, but you've got all kinds of attractions around here.

In the tweet, Jenkins openly bashes Indiana before vowing to get a petition together to make the NBA move the game somewhere else.

"We have created a petition to get the next All-Star Game somewhere people actually give a single solitary [BLEEP] about visiting," Jenkins says in the video.

Yahoo Sports deleted the tweet a few hours later, but not before Hoosiers got a chance to see it for themselves.

Indianapolis, its the basketball center of the world," said Craig Knapp, who was also visiting the city. "I can't believe they wouldn't want to have the NBA All-Star game here.

Outrage from Hoosiers began pouring in. Even former Colt Pat McAfee tweeted, calling Yahoo Sports irrelevant.'

"They stood up and said no, we're not going to be made fun of as a city that's hosted more Final Fours and more major sporting events than arguably any city in the world," said Chris Gahl, Senior Vice President of Visit Indy.

Gahl says the tweet was probably just meant as a joke, but he's more excited about the response that came after.

"What we saw was Indianapolis residents take to social media, respond to this Yahoo Sports NBA tweet, and defend their city," Gahl said.

A few Hoosiers also made their own petition, asking for the NBA to ban Yahoo Sports and Jenkins from the All-Star Game.

It should definitely be here, All-Star game should definitely be here," said Austin Wulff, also in town visiting.

A tweet probably meant as a joke quickly took a wrong turn, and taught the internet that no one messes with Indiana and basketball.

"We care about basketball more here in the state of Indiana than youll find anywhere else, Taylor said.

The 2021 NBA All-Star Game is set to take place at Bankers Life Fieldhouse on Valentines Day 2021.

See original here:

Yahoo Sports rips on Indy, urging for All-Star game to be moved - CBS 4 Indianapolis