5 Stocks Retail Investors Are Most Bearish On At Mid-Day
Disappointing retail earnings and concerns about bloated valuations are weighing down on retail sentiment toward some stocks.
FollowU.S. stocks were on the backfoot on Wednesday as the all-important earnings from Nvidia Corp. ($NVDA) looms large. Given hyped up expectations, the artificial intelligence stalwart has to issue not merely strong guidance but "insane" guidance that's not yet priced in, said LPLFinancial Chief Global Strategist Quincy Krosby.
Ahead of the Nvidia's earnings due after the market close, the following stocks are eliciting most bearish sentiment from the retail crowd:
Williams-Sonoma, Inc. ($WSM)
Shares of San Francisco, California-based omni-channel specialty retailer of home products, soared to a record high following a beat-and-raise quarter.
Retail largely ignored the positive results and the stock strength and fretted over valuation.
XP, Inc. ($XP)
XP shares fell over 5% after the Brazilian financial services company reported a double miss for the third quarter. Traders largely ignored a new share repurchase agreement announced by the company.
Lineage Cell Therapeutics, Inc. ($LCTX)
Micro-cap clinical-stage biopharma Lineage Cell Therapeutics announced that it entered into definitive agreements with certain healthcare focused institutional investors and with Broadwood Partners, L.P. for raising up to $66 million in a registered direct offering of common stocks and warrants to purchase common stock. The stock was down over 30% at last check.
Star Bulk Carriers Corp. ($SBLK)
Greek shipping company Star Bulk Carriers has seen its stock fall over 4.5% as traders digested its mixed earnings report released Tuesday after the close. Incidentally, peer ZIM Integrated Shipping Services Ltd. ($ZIM) reported a double beat.
e.l.f. Beauty, Inc. ($ELF)
Shares of Oakland, California-based e.l.f. Beauty, a maker of cosmetics and skincare products, shed over 9% after short-seller Carson Block's Muddy Waters Research said it is short on the stock.
"We believe it's overstating revenue, profits, inventory," the firm said in a post on X, adding that about 80% of its products are imported. Import data showed that the company's imports crashes by two-thirds, three quarters ago and haven't recovered since then, it added.
The firm sees revenue overstatement to the tune of $135 million-$190 million.
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