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🍄 Super Mario Computer
$SMCI continues its super run. Plus, another day, another all-time high.
Brooks Dyroff
February 15, 2024
Happy Thursday Zingers! Another day, another record close for the S&P 500. Never thought I’d get bored of reporting good news.
Retail sales dropped 0.8% in January, much more than expected. Bears cried, “Too cold!” But the bulls said, “Just right,” and continued to eat the bears’ lunch.
Will tomorrow’s PPI prove to be a “Goldilocks” report too? Or will the three bears left on Wall Street come out of their caves to ruin the party?
Today’s Price Action:
$SPY: +.69%
$QQQ: +.30%
$DIA: +1.03%
Also, today’s partner that’s helping pet owners afford emergency vet bills.
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TODAY’S MOST VOLATILE STOCKS
ONE TOP MOVER
Briefly: The M in $SMCI should stand for Mario, cause Super Micro Computer just won’t stop running.
So Basically: $SMCI’s stock went up another 10% today, officially closing above $1,000 a share for the first time in company history. The stock is up more than 200% in the last month.
Back Up: BofA Securities initiated coverage of the stock and gave it a price target of $1,040, citing strength in chip sales driven by AI demand.
So What? BofA analyst Ruplu Bhattacharya said more than 50% of Super Micro Computer’s revenues are now “tied to accelerators like GPUs,” and thus could grow “even faster” than the predicted 50% CAGR over the next three years, “driving market share gain.”
What Next: Read more here.
PRESENTED BY TRUPANION
A Trupanion survey of North American veterinarians showed $1,500 as the average treatment cost where pet parents halt care. But with quality coverage protecting your pal, you can say ‘yes’ to veterinary care — no matter what life brings.
With their patented software, Trupanion is the only provider that can pay your vet directly at checkout - so no more waiting on reimbursements.
Jumia stock closed up more than 40% after the e-commerce play reported stronger-expected earnings.
Crocs shares snapped higher by more than 10% today after the company delivered a strong quarter and nearly $1 billion in sales.
NVIDIA inched higher after the close today following a new price target from Loop Capital of $1,200 a share, nearly $500 higher than its current price.
AppLovin stock moved higher Thursday following a strong report and bullish analyst coverage from firms like Wedbush.
Roku shares dropped more than 15% after the close, despite delivering an EPS and revenue beat. Here’s why.
ONE TRADE IDEA FOR TOMORROW
Briefly: Truist Securities analyst Jordan Levy reiterated a Hold rating on Plug Power with an unchanged price target of $3.
So Basically: The hydrogen fuel cell developer said it plans to reduce annual operational expenses by $75 million through layoffs and supply chain optimizations.
So Then: The company also plans to curtail discretionary spending and leverage automation to lower expenditures.
So What? The company issued a going concern warning in its third-quarter report. Its new expense reduction plan will include measures in operational consolidation and personnel adjustment as it aims for a 70% YoY reduction in cash burn during FY24.
What Next: Read more here.
PRESENTED BY TRUPANION
Trupanion is dedicated to helping dogs and cats get the best care. According to a recent study, Trupanion pets are 2x as likely to live longer than non-Trupanion pets.* Just one more reason to choose Trupanion.