PROCEPT BioRobotics Rips 14.40%
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.
The markets were mixed as the Fed left rates unchanged.
Utilities advanced +1.15%. Communications carried +0.92%. Energy fell -1.59%. Technology tumbled -1.02%.
New 52-Week Highs led New Lows — 80 vs. 31.
The Best of the Best
PROCEPT BioRobotics ($PRCT) is the best of the best. The surgical robotics company ripped +14.40% following its Q1 earnings report. Revenue increased 83% YoY.
$PRCT propelled to an all-time high.
Here’s the daily chart.
And weekly chart.
$PRCT has 383 followers on Stocktwits.
Carpenter Technology ($CRS) is a notable new high. The specialty metals manufacturer marched +14.74% following its Q3 earnings report.
$CRS surged to an all-time high.
Here’s the daily chart.
And monster monthly chart.
$CRS has 452 followers on Stocktwits.
Axalta Coating Systems ($AXTA) is a notable new high. The industrial coatings company carried +8.81% following its Q1 earnings report.
Here’s the daily chart.
And monster monthly chart.
$AXTA has 829 followers on Stocktwits.
The Worst of the Worst
Starbucks ($SBUX) is the worst of the worst. The coffee company collapsed -15.88% following its Q2 earnings report.
The stock closed at its lowest price since June 2022.
Here’s the daily chart.
And weak weekly chart.
$SBUX has 109,647 followers on Stocktwits.
CVS Health ($CVS) is a notable new low. The retail pharmacy flopped -16.84% following its Q1 earnings report. $CVS reduced forward guidance.
The stock settled at its lowest price since November 2020.
Here’s the daily chart.
And weak weekly chart.
$CVS has 26,620 followers on Stocktwits.
Leggett & Platt ($LEG) is a notable new low. The furniture manufacturer fell -26.67% following its Q1 earnings report.
$LEG closed at its lowest price since April 2009.
Here’s the daily chart.
And monthly chart.
$LEG has 1,299 followers on Stocktwits.
52-Week Highs
52-Week Lows
Riley’s Recommendations
Here are a few sweet links curated by Riley…
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Cruise Line Viking Targets $10.4B Valuation in IPO
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