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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, $RDDT is down -16.6%.
Here’s the daily chart.
VinFast Auto ($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.
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, $DNA is down -91%.
Here’s the disastrous daily chart.
And the weak weekly chart.
The Best of the Best
Coupang ($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.
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.
52-Week Lows
52-Week Highs
Riley’s Recommendations
Here are a few sweet links curated by Riley…
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