We share weekly commentaries with investors on stocks in our strategies that have appreciated or dropped more than 15% in a day during the course of the week. We hope you find this commentary useful.
Farfetch (FTCH)
-15%
Shares of Farfetch traded down 15% on Monday as the war in Ukraine continued to escalate and signal headwinds for retail spending in Europe. Farfetch is a London-based modern luxury e-commerce platform.
Shares of Niu Technologies fell 16% on Monday after the company reported earnings that missed analyst expectations, delivering only 32% year-over-year revenue growth in 2021 and guidance of 25% revenue growth in the first quarter of 2022. Despite the lower than expected short-term guidance, NIU management expects unit volumes to increase 45%-64% and gross margins to rebound this year. NIU is a global, smart urban mobility solutions provider focused on electric scooters.
Shares of 908 Devices rose 15% on Tuesday after the company reported earnings and revenue that beat analyst expectations. 908 Devices is a Boston-based biotechnology firm developing laboratory and handheld instruments for the identification and quantification of chemical analytes.
Shares of Organovo fell 10% on Tuesday, then bounced 18% on Wednesday, following the company’s announcement of a broad licensing agreement enabling The Bio Convergence Company (BICO) and its affiliates to join Organovo’s foundational 3D bioprinting patent portfolio. Organovo is a biotechnology company leveraging 3D printing techniques for the development of human tissues for drug discovery applications.
Shares of JD.com traded down 15% on Wednesday after the company reported its slowest quarterly revenue growth in six quarters. Despite the deceleration in revenue growth from 25.5% in the third quarter to 23% in the fourth quarter, the Chinese on-line retailer managed strong growth in its active user base––21% increase to 570 million customers––and continues to outperform rival Alibaba, which delivered fourth-quarter revenue growth of 10%.
Shares of Kaspi traded up 39% on Wednesday, reflecting investor sentiment that sanctions against Russia and supply chain disruptions would not derail Kaspi’s Kazakhstan-based digital wallet. Kaspi is the largest e-commerce platform in the country and provides payment and lending products to over half the Kazakh population.
Shares of Silvergate traded up nearly 19% on Wednesday after President Joe Biden signed his much-anticipated executive order on digital assets. The order outlines a "whole-of-government" approach to crypto and underscores the importance of US leadership in technological innovation, providing clarity that could suggest a net-positive regulatory outlook for crypto. Founded in the late 1980s as a traditional commercial bank, Silvergate today is almost entirely focused on providing banking services to companies interested in gaining exposure to cryptoassets.
Shares of DocuSign traded down 20% on Friday following the company’s fourth-quarter earnings report, in which management guided to further revenue deceleration and announced leadership changes across its “go-to-market” organization. DocuSign provides electronic signature solutions to mortgage, no-profit, real estate, government, insurance, technology, and healthcare companies.
