Peloton’s Plunge
Good evening. Welcome to Trends with No Friends.
For those just joining us, here’s an overview…
Trends With No Friends sifts through the noise and discovers stocks with high relative strength and low social following.
Why is this combination important?
Stocks that are outperforming tend to continue to outperform. Stocks that have a low social following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Social Following can really outperform as more investors discover them.
They are ripe to rip.
Stocks stumbled.
The S&P 500, Russell 2000 and Nasdaq Composite closed lower. The Dow inched higher.
Tech, healthcare and consumer staples finished slightly positive. Real estate and utilities tumbled more than -1%.
New 52-Week Lows led New Highs — 107 vs. 9.
The Worst of the Worst
Peloton Interactive ($PTON) is the worst of the worst. The at-home fitness company collapsed -5.78% and closed at an all-time low.
Here’s the disastrous daily chart.
And weak weekly chart.
$PTON has 49,110 followers on Stocktwits.
Riot Platforms ($RIOT) is a notable new low. The bitcoin mining company cratered -5.95% and closed at its lowest price since March 28, 2023.
Here’s the daily chart.
And weak weekly chart.
$RIOT has 120,436 followers on Stocktwits.
Array Technologies ($ARRY) is a notable new low. The solar semiconductor manufacturer moved -6.10% and closed at its lowest price since July 18, 2022.
Here’s the daily chart.
And the weekly chart.
$ARRY has 13,061 followers on Stocktwits.
The Best of the Best
Intra-Cellular Therapies ($ITCI) is the best of the best. The biopharmaceutical company carried +23.29% following its positive Phase 3 trial for its adjunctive therapy in patients with major depressive disorder.
Here’s the daily chart.
And weekly chart.
$ITCI has 6,067 followers on Stocktwits.
Victory Capital Holdings ($VCTR) is a notable new high. The investment manager march +4.79% and closed at an all-time high.
Here’s the daily chart.
And weekly chart.
$VCTR has 227 followers on Stocktwits.
Envestnet ($ENV) is a notable new high. The wealth management technology company advanced +7.85% on rumors of acquisition interest.
Here’s the daily chart.
And weekly chart.
$ENV has 358 followers on Stocktwits.
52-Week Lows
52-Week Highs
Riley’s Recommendations
Here are a few sweet links curated by Riley…
Samsung’s Newfound Equilibrium Exhibition Envisions Co-Existence of Technology & Humans
To Make Sense of Color, Google Plays Sound Frequencies with Changing Neon Lights in Milan
Alpine’s Alpenglow Hypercar to Run on Hydrogen in Endurance Track Race for the First Time
Fire Engulfs Copenhagen’s Old Stock Exchange Causing Spire to Collapse
Hideki Yoshimoto Lines Reflective Installation with Illuminated Fibreglass “Soldiers”
Eduardo Souto de Moura Creates Watch with Face Rotated “For Optimal Visibility on the Wrist”
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