Reddit's Reverse Rally
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 continue to slide.
Every major index marched lower. The Nasdaq Composite closed -1.15%. The Dow finished flat.
Utilities advanced +2.09%. Consumer staples, financials and basic materials barely closed higher. Tech tumbled -1.44%.
New 52-Week Lows led New Highs — 67 vs. 8.
The Worst of the Worst
Reddit ($RDDT) is the worst of the worst. The new issue social network stumbled -4.79% and closed at an all-time low. Since its IPO, $RDDT is down -16.6%.
Here’s the daily chart.
$RDDT has 13,091 followers on Stocktwits.
VinFast Auto ($VFS) is a notable new low. The Vietnamese EV manufacturer unplugged -11.40% and closed at an all-time low.
Here’s the daily chart.
$VFS has 5,358 followers on Stocktwits.
Ginkgo Bioworks ($DNA) is a notable new low. The biotech company collapsed -4.59% and closed at an all-time low. Since its 2021 SPAC, $DNA is down -91%.
Here’s the disastrous daily chart.
And the weak weekly chart.
$DNA has 13,223 followers on Stocktwits.
The Best of the Best
Coupang ($CPNG) is the best of the best. The “Amazon” of South Korea settled +0.53% and closed at its highest price since March 9, 2022.
Here’s the daily chart.
And weekly chart.
$CPNG has 13,354 followers on Stocktwits.
Victory Capital Holdings ($VCTR) is a notable new high. The investment manager inched +0.09% and closed at an all-time high.
Here’s the daily chart.
And weekly chart.
$VCTR has 228 followers on Stocktwits.
52-Week Lows
52-Week Highs
Riley’s Recommendations
Here are a few sweet links curated by Riley…
Japan To Build NASA A Pressurized Moon Campervan
Boston Dynamics’ Atlas Humanoid Robot Goes Electric
The New Hot Handset Is a Cute and Transparent Dumb Phone You Can’t Buy
Maserati Launches New Tri-Motor GranCabrio Folgore Convertible That Goes 0-60 in 2.8 Seconds
America’s Coffee Consumption Is at a 20-Year High
High-Stakes Amateur Par-3 Golf League Threatens to Further Shake Up Sport
Open to Feedback
Do you enjoy the current cadence or wish to receive Trends with No Friends less frequently?
Enjoying Popularity + Price?
