Stitch Fix Soars
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 8 December 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
Shares of Stitch Fix rise 45% on a surprising 1st-quarter report. Toll Brothers wraps up the fiscal year with a strong report, but shares of the luxury homebuilder fall anyway. Jason Moser analyzes those stories, as well as AutoZone putting up big same-store sales numbers in the 1st quarter.
Holiday Song - “Happy Xmas (War Is Over)” by John Lennon
Transcript
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| 0:00.0 | It's Tuesday, December 8th. |
| 0:04.0 | Welcome to Market Fullry. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:07.0 | Mr. Jason, Moser. |
| 0:08.0 | Good to see you, my friend. |
| 0:09.0 | Howdy. |
| 0:10.0 | We got Automotive. |
| 0:13.0 | We're going to start with the stock of the day, |
| 0:15.0 | and that is stitch fix. |
| 0:17.0 | Shares of stitch fix up 45% today. |
| 0:21.0 | They reported a profit in the first quarter. That was a |
| 0:24.0 | surprise. First quarter revenue was 10 percent higher than a year ago. That's good. |
| 0:31.2 | That doesn't strike me as the kind of revenue growth that would spark a stock shooting up 45%. |
| 0:39.0 | I'm assuming at least part of what we're seeing today is short covering. |
| 0:42.0 | Yeah, I mean I think that's a safe assumption and I was going to say you're forgiven if you're |
| 0:47.5 | wondering why the market is offering up such a strong reaction today to really what were just kind of okay |
| 0:54.9 | results. This is a massive short squeeze and according to cap IQ data there was |
| 1:01.9 | around 37% of the float going into today was being sold short. That's a lot. |
| 1:07.0 | You know, that's over a third of the shares that float on the open market. |
| 1:11.0 | And anytime you have something like that I mean you'll |
| 1:17.0 | see these types of things happen if it certainly when a company beats |
| 1:20.6 | expectations or brings results that are a little bit better than the market was thinking or expecting. |
... |
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