Wolfspeed's Wallop
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.
Friday’s market was mixed.
The Nasdaq Composite collapsed -2.05%. The Dow and Russell 2000 ticked higher.
Utilities, financials, energy and consumer staples advanced approx. +1%. Tech tumbled -2%.
New 52-Week Lows led New Highs — 47 vs. 11.
The Worst of the Worst
Wolfspeed ($WOLF) is the worst of the worst. The semiconductor company stumbled -6.49% and closed at its lowest price since May 2017.
Here’s the daily chart.
And weak weekly chart.
$WOLF has 5,875 followers on Stocktwits.
VinFast Auto ($VFS) is a notable new low. The Vietnamese EV maker unplugged -7.01%.
Here’s the disastrous daily chart.
$VFS has 5,384 followers on Stocktwits.
XPeng ($XPEV) is a notable new low. The Chinese EV manufacturer fell -3.35% and closed at its lowest price since November 2022.
Here’s the daily chart.
And the weak weekly chart.
$XPEV has 54,460 followers on Stocktwits.
The Best of the Best
Victory Capital Holdings ($VCTR) is the best of the best. The investment management company carried +3.42% and closed at an all-time high.
Here’s the daily chart.
And weekly chart.
$VCTR has 229 followers on Stocktwits.
SilverCrest Metals ($SILV) is a notable new high. The precious metals miner marched +4.36% and closed at its highest price since May 2022.
Here’s the daily chart.
And weekly chart.
$SILV has 1,435 followers on Stocktwits.
52-Week Lows
52-Week Highs
Riley’s Recommendations
Here are a few sweet links curated by Riley…
Noise: A Flaw in Human Judgment
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GAC Presents 3 New City Cars WIth Glass Shell, Adaptive Trunk and Transparent Display in Milan
Toaster Typewriter Is A Breakfast Machine That Burns Letters Onto Bread
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