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Walgreens Is The Worst Of The Worst

Walgreens Is The Worst Of The Worst

New 52-Week Lows led New Highs — 52 vs. 31.

Riley Rosebee
April 10, 2024

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.

Good evening.

Stocks stalled. Every major index tumbled. Small caps stumbled -2.52%. The Dow dipped -1.09%.

Energy was the only positive sector. Real estate retreated -4.11% — $XLRE’s worst day since June 13, 2022. Utilities, basic materials, consumer discretionary and financials fell approx. -1.5%.

New 52-Week Lows led New Highs — 52 vs. 31.

The Worst of the Worst

Walgreens Boots Alliance ($WBA) is the worst of the worst. The convenience corner store collapsed -6.05% and closed at its lowest price since August 2010.

On February 26, the company was kicked out of the Dow Jones Industrials Average. The stock is down -16.5% since.

Here’s the dumpster-fire daily chart.

And melancholy monthly chart.

$WBA has 18,714 followers on Stocktwits.

Reddit ($RDDT) is a notable new low. The new issue social network broke down -6.47% and closed at an all-time low. The stock is down -10.45% since its IPO.

Here’s the daily chart.

$RDDT has 13,229 followers on Stocktwits.

Peloton ($PTON) is a notable new low. The at-home fitness company cratered -7.59%.

Here’s the daily chart.

And weak weekly chart.

$PTON has 49,135 followers on Stocktwits.

The Best of the Best

Revolution Medicines ($RVMD) is the best of the best. Yesterday, the company announced the “Discovery of and Translational Research for RMC-6236, an Investigational RAS(ON) Multi-Selective Tri-Complex Inhibitor Designed to Block Full Spectrum of Oncogenic RAS(ON) Proteins.”

$RVMD rallied +10.64% and closed at its highest price since April 2021.

Here’s the daily chart.

And weekly chart.

$RVMD has 569 followers on Stocktwits.

Alpine Immune Sciences ($ALPN) is a notable new high. The clinical-stage biotech bounced +20.80% after the company entered an agreement to be acquired by Vertex Pharmaceuticals. The stock is up ~36% after-hours. Congrats longs!

Here’s the daily chart.