Market

Top Stocks To Short Today As Reopening Stocks Lead

Markets were set to continue the gains from the start of the week. Although we saw minor losses in Tuesday’s session, we saw a bit of a recovery on Wednesday, building on Monday’s confidence from the blowout jobs report. With investors anticipating details from the Fed’s latest policy meeting, the Dow Jones rose 20 points. The S&P 500 also ticked up 0.1%, and the Nasdaq slightly fell 0.1%. With bond yields retreating, reopening plays led the way. Carnival climbed 3.6%, Royal Caribbean and Norwegian each rose over 2%, and Southwest, American, and United advanced over 1%. If you’re looking for a way to play this market, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays. 

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Chewy Inc (CHWY)

Pet food, supplies, and pet products e-commerce company Chewy Inc. is our first Top Short for the second day in a row. Chewy recently saw its stock have a nice pop after beating its Q4 earnings expectations, and impressing investors everywhere. Our AI systems rated Chewy C in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 2.1% to $82.55 on volume of 3,065,616 vs its 10-day price average of $81.14 and its 22-day price average of $81.85, and is down 7.14% for the year. Revenue was $7146.26M in the last fiscal year compared to $3532.84M three years ago, Operating Income was $(90.46)M in the last fiscal year compared to $(267.77)M three years ago, and EPS was $(0.23) in the last fiscal year compared to $(0.68) three years ago. 

MORE FROM FORBESChewy (CHWY)

Bandwidth Inc (BAND)

Bandwidth Inc is our next Top Short and is also on our list for the second consecutive day. Bandwidth Inc is a Communications Platform as a Service company, and sells software application programming interfaces for voice and messaging, using their own IP voice network. Our AI systems rated the company F in Technicals, D in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed up 1.05% to $124.29 on volume of 525,214 vs its 10-day price average of $121.59 and its 22-day price average of $124.7, and is down 21.57% for the year. Revenue was $343.11M in the last fiscal year compared to $204.11M three years ago, Operating Income was $(0.6)M in the last fiscal year compared to $7.44M three years ago, EPS was $(1.83) in the last fiscal year compared to $0.85 three years ago, and ROE was (12.56%) in the last year compared to 19.33% three years ago.  

MORE FROM FORBESBandwidth (BAND)

Boxlight Corp (BOXL) 

Boxlight Corp is our third Top Shirt today. Boxlight Corp is an education technology solutions provider for the global learning market. Our AI rated D in Technicals, F in Low Volatility Momentum, and F in Quality Value. The stock closed up 4.54% to $2.65 on volume of 3,014,522 vs its 10-day price average of $2.67 and its 22-day price average of $2.59, and iis up 77.85% for the year. Revenue was $54.89M in the last fiscal year compared to $37.84M three years ago, Operating Income was $(7.9)M in the last fiscal year compared to $(7.0)M three years ago, EPS was $(0.39) in the last fiscal year compared to $(0.72) three years ago, and ROE was (44.44%) in the last year compared to (84.35%) three years ago. 

MORE FROM FORBESBoxlight (BOXL)

Liveperson Inc (LPSN)

Software company Liveperson Inc is our next Top Short today. Liveperson develops conversational commerce and AI software, and is best known as the developer of the Conversational Cloud, a software platform that allows consumers to message directly with brands. Our AI systems rated the company D in Technicals, D in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed down 1.61% to $56.87 on volume of 514,707 vs its 10-day price average of $53.11 and its 22-day price average of $54.23, and is down 6.95% for the year. Revenue was $366.62M in the last fiscal year compared to $249.84M three years ago, Operating Income was $(54.63)M in the last fiscal year compared to $(15.14)M three years ago, EPS was $(1.63) in the last fiscal year compared to $(0.42) three years ago, and ROE was (54.83%) in the last year compared to (16.11%) three years ago.  

MORE FROM FORBESLiveperson (LPSN)

Plug Power Inc (PLUG)

Our final Top Short today is the much hyped Plug Power Inc. Plug Power is a company at the forefront of automotive innovation with its development of hydrogen fuel cell systems. The goal of this company is to develop mechanisms to eventually replace conventional batteries in equipment and vehicles powered by electricity. Our AI systems rated Plug Power C in Technicals, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 3.68% to $34.67 on volume of 23,516,961 vs its 10-day price average of $34.21 and its 22-day price average of $38.28, and is up 7.77% for the year. Revenue was $-100.47M in the last fiscal year compared to $174.63M three years ago, Operating Income was $(550.26)M in the last fiscal year compared to $(69.48)M three years ago, EPS was $(1.58) in the last fiscal year compared to $(0.36) three years ago, and ROE was (68.42%) in the last year compared to (143.71%) three years ago.

MORE FROM FORBESPlug Power (PLUG)

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