Swaggy's Top Stonks - Earnings Debrief
Swaggy's Top Stonks - Earnings Debrief
Swaggy’s Top Stonks. We compile and analyze data from multiple sources bringing you the top trending tickers from around the internet. If you haven’t subscribed already, please do so below.
Swaggy's Top Stonks
Together with... Miso Robotics
November 11, 2021
Welcome newcomers to Swaggy's Top Stonks and thank you for subscribing.
This is an earnings run-down where we look into movers of the week and what's driving the action. Let's go.
Shout-out to our sponsor for today's letter, Miso Robotics, who have some pretty cool robotics and automation systems for the restaurant industry.
Today's Letter
Today's Sinkers & Swimmers
Post-Market Earnings Movers
How Swaggy's Playing It
Trending Tickers
Sinkers & Swimmers
Yesterday we saw heavy selling with most market action to the downside. Many growth stocks were down nearly double digits. Reasons for the drawdown include:
Evergrande (finally) defaulting on bond payments
CPI print of 6.2% was highest in 30 years (gold bulls rejoice)
Higher CPI always seems to lead to fears of sooner-than-expected tapering and tighter monetary policy
Today, we got a much needed bounce in select names with market breadth around 55%. Stocks that were hit the hardest yesterday seemed to have moved off the lows in today's action. Here's what's moving.
Today's Trading Action
Purple Innovation (PRPL) reported underwhelming earnings on Tuesday which was reflected in the stock price taking a 25% hit to the downside.
FuboTV (FUBO) posted a bigger loss than expected, although earnings were okay the stock tumbled 22% and is relatively flat in today's trading.
Monday (MNDY) shares saw a 20% decline off an earnings beat yesterday. However, shares have bounced 4% to the upside today.
Upstart (UPST) beat on top and bottom line and revised guidance to the upside. What happened next will shock you! The stock dropped 20% post-earnings and is down another 4% in today's action.
Global-E (GLBE) stock price was down as much as 15% in the last two days after reporting a beat on revenues and revising guidance to the upside. Shares have somewhat recovered today after a 8% move to the upside, but the stock is still down roughly 12% from pre-earnings prices.
Fiverr (FVRR) was one of the only growth stocks that was green yesterday. After a big beat of net new buyers and increase in spend per customer the stock opened +22%, but eventually sold off with the rest of the market and closed roughly +9%. Shares are flat in today's trading.
Unity (U) shares have had a strong showing this week after recording a good quarter on the books. In their earnings note they stated they were to buy Weta Digital for 1.6 billion. They initially dropped on the news, but have recovered and are up 22% for the week.
This AM's Earnings Recap
Paysafe (PSFE)
EPS $0.01 vs $0.01 est.
REV $384m vs $378m est.
Stock is trading down 40% on lowered guidance and revenue forecast.
Arcelor Mittal (MT)
EPS $4.16 vs $4.17 est.
REV $10.98b vs $11.28b est.
Shares traded +5% on a positive outlook.
GrowGeneration (GRWG)
EPS $0.07 vs $0.086 est.
REV $116m vs $114.8m est.
Shares traded down as much as 9% today on lowered guidance, but recovered before market close to -3%.
Wix (WIX)
EPS -$0.21 vs -$0.375 est.
REV $320m vs $315m est.
WIX was trading +4% at the open after raising 2021 outlook, but has since pulled back and is no -4% for the day.
Yeti (YETI)
EPS $0.64 vs 0.595 est.
REV $362m vs $357m est.
Earnings beat on top and bottom, but shares are trading down 7% in today's action. Of note, gross margin seems to have compressed for the company from 59% to 57%.
Celsius (CELH)
EPS $0.03 vs $0.04 est.
REV $94.9m vs $73.6m est.
After beating big on revenues the company noted they are seeing higher input costs affecting their bottom line. Stock traded +4% for the day.
Only one week left to invest in the robots taking over the $273B food service industry.
Miso Robotics uses a cloud-connected AI platform that enables autonomous robotic kitchen assistants to perform tasks such as frying and grilling alongside chefs in a commercial kitchen.
Miso’s latest commercial partnership with Inspire Brands, parent company of Buffalo Wild Wings, is called Flippy Wings. This robotic frying solution is forecasted to increase food production speeds by 10-20%.
And if that’s not enough, here are a few more reasons to invest:
Nearly $38M raised via equity crowdfunding
Signed an $11M contract with CaliBurger
Entered into an agreement with White Castle for a North American rollout
Working with 10 of the top 25 QSRs
Achieved 2 granted patents and 10 more pending
Don’t miss out. Invest in Miso Robotics before the opportunity closes Nov. 18.
*This is promoted content.
Post-Market Earnings Movers
Today's post-market earnings hits & misses, brought to you in "slightly delayed" real-time by Swaggy.
Blink (BLNK)
EPS -$0.36 vs -$0.24 est. (miss)
REV 6.4m vs 5m (beat)
BLNK shares traded +6% for the day and another +5% in after-hours on the earnings news.
Coupang (CPNG)
EPS -$0.30 vs -$0.14 est. (miss)
REV 4.48b vs 4.47b est. (slight beat)
Shares are trading mostly flat, or +1% in after-hours trading. Theta-gang wins again on this one!
Tomorrow's Anticipated Earnings
Friday
AstraZeneca (AZN) - BMO
How Swaggy's Playing It
We actually saw some solid performance from many growth stocks in the tech sector. As mentioned above companies like UPST and GLBE crushed it on earnings and still took a major hit in share price. It could be the market is preparing for tighter monetary policy, giving headwinds to a lot of these growth names. Either way, the market is pricing in uncertainty for those reasons.
This has been the theme over the last several months and will need to monitor price action in high-growth stocks going forward. The only problem is that usually valuations don't matter until they do and vice-versa. Is something really that expensive if it's growing more than 100% YoY?
My opinion is to find names that have continued to perform strong and hold onto those. Other covid-plays like PINS that are seeing a reduction in DAUs (negative DAUs for a growth stock is never a good sign) could be in trouble. That may explain the sentiment behind the massive sell-offs they've experienced.
WallStreetBets - Most Mentioned Equities
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