- Raymond James analyst Aaron Kessler reviewed 2Q App data trends and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Search Trends data across local marketplaces, e-commerce, digital media, social media, and SMB services companies.
- His app data analysis showed mixed local trends with rideshare trends steady. Uber Technologies, Inc (NYSE:UBER) outperformed Lyft, Inc (NASDAQ: LYFT).
- He saw slowing food delivery on tough comps with DoorDash, Inc (NYSE:DASH) relatively topping.
- He saw eCommerce trends remained softer in 2Q across most companies, with the most significant decreases seen from Chewy, Inc (NYSE:CHWY) and eBay Inc (NASDAQ:EBAY) and a modest reduction from Amazon.com Inc (NASDAQ:AMZN).
- He saw mixed digital media results. There were clear decelerating trends from Netflix, Inc (NASDAQ: NFLX). There was modest deceleration for Spotify Technology S.A. (NYSE: SPOT). Peloton Interactive, Inc (NASDAQ: PTON) data reflected continued downloads softness. Duolingo, Inc (NASDAQ: DUOL) data remains solid and suggests a modest upside to his estimates.
- He saw social media trends generally softer, with relatively flat Y/Y growth from Meta Platforms Inc (NASDAQ: META), steady growth from Snap Inc (NYSE: SNAP), and softer Pinterest, Inc (NYSE: PINS) Trends, and slowing TikTok growth.
10 Short Squeeze Stocks To Watch: Getty Images, Guardforce AI And 2 Stocks Moving Up Over 1,000 Positions On The Leaderboard
Potential short squeeze plays gained steam in 2021, continued through 2022, and remain a focus of new traders looking for the next huge move.
High short interest and high cost to borrow are among the common traits that could lead to a short squeeze.
