8 Bellwether Consumer Tech Stocks
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 2 November 2021
⏱️ 16 minutes
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Summary
Shares of Avis Budget skyrocket as increased demand for rental cars fuels strong 3rd-quarter profits. Under Armor’s restructuring plan bears fruit in the form of 3rd-quarter profits doubling and full-year guidance being raised. Chegg shares fall 46% on a dismal earnings report. Bill Mann analyzes those stories and makes his pitch for a new acronym encompassing the top 8 consumer technology stocks in America.
Transcript
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| 0:00.0 | It's Tuesday and November 2nd. |
| 0:04.3 | Welcome to Market Foolery. |
| 0:05.3 | I'm Chris Hill with me today, the one and only Bill Mann. |
| 0:08.6 | Thanks for being here. |
| 0:09.6 | A little crazy out there, isn't it Chris? |
| 0:11.7 | It is a little crazy. |
| 0:13.1 | We're going to get to the crazy. |
| 0:14.4 | We've got a new stock index to talk about. |
| 0:16.7 | We've got three stocks that are on fire, and two of them are in the good way of being |
| 0:21.8 | on fire. |
| 0:22.8 | We'll start with Avis Budget. |
| 0:25.9 | Third quarter profits and revenue were both higher than expected because the demand |
| 0:29.8 | for rental cars is up, and they are charging higher rates and anyone who has attempted |
| 0:35.9 | or even just looked into renting a car this calendar year probably is not surprised that |
| 0:43.4 | Avis Budget put up better than expected numbers. |
| 0:46.3 | Now, having said that, at one point this morning, shares of this stock were up 160%. |
| 0:55.3 | As of this moment, it's now only up 90%. |
| 1:02.1 | We can start with what is happening with the stock or we can start with the results. |
| 1:08.7 | Where do you want to start? |
| 1:10.1 | I think we need to start with the stock. |
| 1:12.3 | It is currently, as we speak, $336 a share and it has been as high as $545 a share today, |
| 1:19.8 | so that means that technically Avis Budget Group is in a bear market. |
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