Etsy Inc (NASDAQ: ETSY) said on Wednesday it will buy Depop for $1.62 billion. Depop is a fashion resale app that is focused primarily on Gen Z. Shares of the company closed about 6% up on Wednesday. Gina Sanchez’ remarks on CNBC’s “Trading Nation” The news comes after a significant hit to Etsy in the […]
To mark the occasion, CNBC s Trading Nation asked two market watchers for their favorites of the bunch.
Gina Sanchez, CEO of Chantico Global and chief market strategist at Lido Advisors, highlighted Microsoft as a favorite. This is a company that has just beat earnings, and this was a story that was already building before the pandemic. It got some extra rocket fuel during the pandemic as they built out their cloud-based offering which is the Azure suite, Sanchez said Wednesday. Now, they re experiencing the recovery as PC sales pick up [and] their core Windows sales are also picking up. It s just hitting on every cylinder, said Sanchez.
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It seems like the brand name at Chipotle never really tires with their customer base, he said.
Although the stock is expensive, he likes the company s high growth rate and expects to see Chipotle average around 25% earnings growth over the next four years. That s a rarity in this market, so I would fall with Chipotle, he said. I think that the premium is warranted.
Shifting gears to J.M. Smucker, Binger is bearish on the staples stock. That s more of a mature company, and you re counting on not earnings growth but you re counting on multiple expansion, he said. To me, multiple expansion is a tougher play.