Snap Inc (NYSE: SNAP) has weathered some fairly negative headlines in the past 24 hours, but shares have been unruffled. The muted reaction by Snap investors suggests shareholders are more focused on the long-term Snap story than short-term bumps in the road. Downsizing
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The U.S. firm reported market-beating quarterly results last week.
Roku shares are currently 30% down versus their February high.
Roku Inc. (NASDAQ: ROKU) published its quarterly earnings report last week that resulted in an 11.5% increase in the stock on Friday. Despite the surge, Craig Johnson of Piper Sandler says there’s still more juice left in the stock that is trading more than 30% down compared to its year-to-date high of £332 per share in early February.
Craig Johnson’s remarks on CNBC’s “Trading Nation”
Johnson said on CNBC’s “Trading Nation” on Monday:
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Roku in the first-quarter report posted its highest revenue growth rate since its 2017 IPO. Loop Capital Markets upgraded the stock to a buy with a $450 price target after the results, citing its impressive platform growth, increasing market share and the overall shift to digital streaming. There s no question the primary trend is still higher for Roku, Johnson, his firm s senior technical research analyst, said Friday on CNBC s Trading Nation. From my perspective, the stock has gotten oversold. It seems like a pretty good entry point and a pretty good upgrade here for Loop, he said, adding that the shares have fallen to their 200-day moving average.
CNBC s Trading Nation asked two traders which they re watching most closely. I have my eye on Roblox because Roblox is essentially crack for kids, Danielle Shay, director of options at Simpler Trading, said Friday. Their business model is a little bit questionable but lucrative. So, I m looking at this one to the upside.
Roblox, which reports earnings Monday afternoon, is an online gaming platform with user-generated content, free to play but with in-game purchases made with Robux. It is expected to report $573.1 million in sales in its March-ended quarter, according to FactSet estimates. All the hype around it has given the implied volatility quite a rise, which means that options traders could sell some put credit spreads, or some at-the-money condors. We re pricing in about an $8 move either way. If we do get a pullback, I d be a buyer of the stock, said Shay.