Stocks m00n on Russia aggression

The bizarro world of investing

Author

Swaggy Stocks
February 24, 2022

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Welcome newcomers to Swaggy's Top Stonks and thank you for subscribing.

The good news is that I just submitted my application for food stamps, the bad news is that it's the Wild West out there in the markets... Let's go through a market update and take a look at where the earnings action was this week.

Then we'll check out the meme-stocks and crypto side of things to find some opportunities to get us out of that bread line. Let's go.

Today's Letter

  • Market Update

  • Earnings SZN

  • Cryptos get smashed

  • Trending Tickers

Market Update

Ladies and gents,

We are witnessing the most bizarro world of investing where bad news is good news and good news is bad... The thing is, the market is never wrong and I've found myself bringing out my knee pads more often than I'd like over the last few weeks. The reversal we saw from today's lows were majestic and my portfolio bows in gratitude.

Nobody knows for certain why markets RIPPED on today's news of invasion. One possibility for the reversal is that the short-term probability of a rate hike coming into existence has now dropped significantly. Raising rates going into war? Highly unlikely. Excuse me while I go play some Call of Duty in preparation for getting drafted into the army.

What happens next? Literally nobody knows so don't even bother asking the question. I'm at the mercy of my leveraged portfolio and I will die by this double-edged sword I've bestowed upon myself. Here's where the action is at:

  • Stonks are under-performing.

  • The price of crude oil continues it's trend up, but has since stabilized as we await Russia's reaction to more sanctions.

  • 10-year yield continues to creep higher and higher.

  • Cryptos/Bitcoin remains as volatile as ever. After dropping sub 35k for a few moments it has since m00ned and is inching back towards the $40k level.

  • Commodities (wheat) has spiked to the upside, bigly.

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Earnings SZN

Let's dive into some of the earnings hits and misses so far this week.

Tuesday

Home Depot (HD)

  • Revs $35.6B vs $34.6B est. Beat

  • EPS $3.21 vs $3.20 est. Beat

  • Shares are trading down roughly 10% this week.

Teladoc (TDOC)

  • Revs $554M vs $548M est. Beat

  • EPS -$0.07 vs -$0.59 est. Beat

  • Shares are trading roughly flat for the week.

Virgin Galactic (SPCE)

  • Revs $0.1M vs $0.0 est. Beat

  • EPS -$0.31 vs -$0.39 est. Beat

  • Shares are trading up roughly 15% this week.

MercadoLibre (MELI)

  • Revs $2.1B vs $2.02B est. Beat

  • EPS $1.67 vs $0.95 est. Big beat

  • Shares are trading up 17% since reporting.

Wednesday

Monday com

  • Revs $95.5M vs $87.8M est. Beat

  • EPS -$0.26 vs -$0.52 est. Beat

  • Shares traded down 17% in post-earnings action.

FuboTV (FUBO)

  • Revs $231M vs $213M est. Beat

  • EPS -$0.57 vs -$0.66 est. Beat

  • Shares are trading +10% since reporting.

Skillz (SKLZ)

  • Revs $109M vs $114M est. Miss

  • EPS -$0.25 vs -$0.14 est. Miss

  • Shares traded as low as -35%, but has since recovered to -20%.

Clover Health (CLOV)

  • Revs $432M vs $408M est. Beat

  • EPS -$0.26 misses estimates.

  • Shares squeezed higher by 25% in today's action.

Thursday

Alibaba Holdings (BABA)

  • Revs $38.1B vs $37.8B est. Beat

  • EPS $2.65 vs $2.41 est. Beat

  • Shares traded roughly flat today.

Digital Ocean (DOCN)

  • Revs $119.7M vs $119.05M est. In-line

  • EPS $0.10 vs $0.09 est. Beat

  • The company adjusted guidance to the upside and initiated share buyback of $300m. Shares traded +18% today.

Block  (Square - SQ)

  • Revs $4.08B vs $3.98B est. Beat

  • EPS $0.27 vs $0.19 est. Beat

  • Shares traded +7% today and are flying +28% to the upside in after-hours action.

Coinbase (COIN)

  • Revs $2.49B vs $1.81B est. Huge beat

  • EPS $3.32 vs $1.95 est. Huge beat

  • Shares are down 3% in after-hours trading.

Beyond Meat (BYND)

  • Revs $100.7M vs $104M est. Miss

  • EPS -$1.27 vs -$0.73 est. Miss

  • Shares are trading down 8% in after-hours.

Rocket Companies (RKT)

  • Revs $2.44B vs $2.63B est. Miss

  • EPS $0.32 vs $0.37 est. Miss

  • Miss on top and bottom. Company announced a special dividend. Shares trading flat after-hours.

Etsy (ETSY)

  • Revs $717.1M vs $686M est. Beat

  • EPS $1.11 vs $0.76M est. Beat

  • Shares traded +10% in today's action and another +25% in after-hours.

Trending Cryptos

Crypto currencies are taking a breather, but here are some of the more hyped ones making the top of the social charts:

  • Bitcoin (BTC)

  • Ethereum (ETH)

  • Chainlink (LINK)

  • XRP (XRP)

  • Karma (KARMA)

The market moves fast, but GRIT moves faster. The new Daily Market Update is a short & sweet, to the point, no bull$&!% snapshot of the stock market (and ONLY the stock market). Subscribe to get your daily finance edge in

Meme Stocks

A look at some of the stocks trending on WallStreetBets. Current focus is on the price of OIL and what the result of Russian sanctions will offer.

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