Good Saturday everybody and welcome to the second edition of the Stocktwits Top 25. We got a great response last week and appreciate all the suggestions and positive feedback.
The Stocktwits Top 25 reports the top 25 performing stocks in the S&P 500 year to date (YTD) and tracks their performances over time. It is simple and fun and might provide a strong idea generator so readers can dig deeper.
We have a new #1 stock and it is Newmont Mining which fell 3.36% last week but remains up 40.37% YTD. There are still 8 months left in 2020 and it is hard to remember a year when a miner was the top performer in the S&P 500 but you never know. If you’re a junkie and recall the last time this happened please share it with the class. 😊
$NEM stole the #1 ranking from Regeneron Pharma which dropped 7.2% on the week after some disappointing drug trial data. $REGN came in at #2 and is still up 39.95% YTD. It reports earnings this Tuesday, so it will probably be volatile again this week.
#1 $NEM also reports Tuesday morning so we could get a bunch more jostling at the top spots next week.
Please let us know what you think by hitting us up at firstname.lastname@example.org.
Here’s the Stocktwits Top 25 for the market week ending May 1, 2020:
The ST Momentum Meter
The Stocktwits Momentum Meter calculates the average weekly performance of the top 25 stocks in the S&P 500 YTD. It reflects how the top stocks are performing week to week.
This week, the Momentum Meter measured -1.23%. The S&P 500 fell 0.21% for the week and so the top stocks underperformed the broader index modestly.
Last week, the Momentum Meter read -0.21%.
It seems like the strong stocks are biding their time as the market chops sideways, either digesting recent gains or sputtering. We’ll see.
We did see lots of internal movement among ST Top 25 stocks which is, in part, earnings related. Six stocks entered the list and six dropped off.
We saw some companies move higher on the list even as they fell for the week. This speaks to the turbulence below the surface, the internal volatility, even as the mean performance of the top 25 was only down a bit.
Here’s a recount of some of the pin action.
ST TOP DAWG OF THE WEEK
△ #11 ServiceNow The ST25 Top Dawg of the Week goes to ServiceNow, which ripped big time Wednesday and Thursday after reporting stellar earnings. Here’s the chart.
$NOW was up 12% for the week and enters the list all the way up at #11 so it is not only the Top Dawg but also part of the Freshman Class. This true Diaper Dandy is now up 20.26% YTD.
ServiceNow is a cloud software company which has been a low key COVID-19 play, benefiting from employees working remotely in a virtual environment. Well, guess what – it ain’t lowkey no more.
Here’s a solid Cramer interview with $NOW CEO Bill McDermott for those interested.
On May 5, Stocktwits is sponsoring Maxim Group’s The Infectious Disease Virtual Conference. This is a timely event in the shadow of the COVID-19 pandemic and the biotechnology demands it is generating.
We are witnessing a renaissance in drug development and investors have a real opportunity to participate. Maxim Group’s Infectious Disease Conference will focus on emerging treatments for drug resistant bacteria and fungi driving diseases that result in high mortality rates.
You will hear and learn from four panels of companies in various stages of drug development, representing the next wave of innovation in the treatment of infectious disease. Qualified investors will also have the opportunity to schedule one-on-one meetings with presenting companies.
The Freshman Class
The Freshman class includes stocks new to the list this week. Plenty of fresh names.
One interesting thing – there are stocks which fell on the week that moved up onto the list anyway. This speaks to the internal volatility we saw for S&P 500 top performers and the weakness of some of last week’s 15-25 names.
△ #14 Marketaxess Holdings rose 7.09% for the week and is now up 18.92% YTD. It enters the ST Top 25 List at #14. $MKTX beat earnings on Wednesday.
This beast was up 32.5% in April, gaining over $4B in market cap. $MKTX builds trading technology and is benefiting from increased market volume no doubt.
△ #17 Old Dominion Freight Line gained 3.99% this week.
The stock has been rallying hard after reporting earnings on April 23rd and is up $20 since.
△ #21 Paypal moseyed up .36% on the week and snuck onto the list at #21. $PYPL reports earnings Wednesday after the close. It will be one to watch.
△ #22 General Mills closed the week down 1.49% yet managed to enter the ST Top 25 at #22. This comes after the stock broke out to new 52 week highs the week before.
$GIS is now up 13.26% YTD.
The outperformance here is a testament to the relative success of defensive names in this market. Consumer Staples are down 8.7% YTD, better than the S&P 500 which is down 12.38% YTD.
△ #25 Dollar General fell 1.86% which was just small enough to snag the last spot for the week.
Rippers and Dippers
▼ #13 SBA Communications plunged 6.22% this week and dropped 7 spots on the list from #6 to #13. $SBAC opened up at new all time highs on Tuesday morning but couldn’t keep it up. 🍆
$SBAC reports earnings Tuesday after market close. It will be one to watch.
▼ #23 Akamai Technologies stock fell 6.7% this week moving down from #15. This is on the heels of its earnings report after the close on Tuesday. The company beat on earnings but obviously the numbers weren’t good enough as the stock gapped down 4%.
$AKAM posted back-to-back inside days since earnings. Make of that what you will. Here’s the daily chart – have a look.
▼ #2 Regeneron Pharmaceuticals lost the ST Top 25 #1 ranking, as mentioned above, dropping one spot to #2. $REGN fell 7.19% this week but is still up 39.95% YTD.
Regeneron reports earnings Tuesday morning.
All of last week’s Freshman Class joined the dropouts this. That was fast.
▼ Advanced Micro Devices fell 11.21% this week and off the list from the #14 spot. Shanked it bad…
The sell off came after the company reported earnings Tuesday. $AMD came in at $0.18 per share, which met consensus estimates, however, the numbers clearly did not satisfy, and it got sold for real.
▼ Cadence Design Systems lost 5.81%. This happened only a week after the stock touched all time highs. Last week $CDNS debuted on the ST TOP 25 list at #19. Roundtripper yeah.
▼ T-Mobile US fell 5.07% last week. It was #20 on the ST Top 25 last week but no more. $TMUS reports earnings Friday after the close.
▼ Progressive Corp dropped 8.07% last week and right back off the list. It ran right up to 84 but could not hold.
$PGR couldn’t hold the #22 spot either. This is the 4th time the stock has tested this area since June 2019 and that 84 level feels like kind of a big deal.
▼ Crown Castle International Corp gave up 3.22% for the week and fell off the list from #23.
On Tuesday, $CCI dropped 3.6%. Then, it reported earnings on Wednesday, gapping 3% lower on the number but then rallying to close up 2.57% on the day. A 5.5% move in a REIT in 1 day but not good enough to maintain its ranking.
▼ Kroger lost 3.03% last week and the #24 spot on the ST 25 as the stock battles long term resistance in the $32-$34 range. $KR is not expected to report earnings until mid-June.
Keep An Eye Out
Tuesday is a big day. 4 of the ST 25 report earnings – 3 before the market open.
This has to be a record. 😉
For the first time ever we have both #1 and #2 reporting earnings on the same day. To reiterate, Tuesday is a big day. Put on your game face.
If you enjoy this new edition of the Daily Rip go ahead and share it with your peeps. 😊😊😊