Pinduoduo’s Boring Earnings

The online personal styling business might’ve been a solid bet during the ZIRP era, but it has really taken a beating in the post-pandemic world. Today, we heard from Stitch Fix and ThredUp, battling for survival in the public markets. 📦

First up, Stitch Fix reported a $0.29 per share loss on $330.40 million in revenues. Both numbers missed estimates of a $0.22 loss and $330.88 million. Looking ahead, the company’s third-quarter revenue guidance of $300 to $310 million also missed expectations. 🔻

After Palo Alto Networks and other cybersecurity stocks failed to meet expectations, the market highly anticipated CrowdStrike’s earnings after the bell. And unlike its peers, the company delivered big time, so let’s take a look. 👇

Adjusted earnings per share of $0.95 beat expectations of $0.82, while revenues of $845 million topped the $839 million anticipated. Notably, the firm has reported GAAP net income for the past four quarters, and management expects that trend to continue. 💵

It was another day of records for the U.S. stock market as more and more stocks got snatched up in the bullish animal spirits. Let’s continue this week’s trend of pointing out the ragingly bullish action traders have been dealing with. 👇

Below is a chart of the S&P 500 showing prices rising for 16 of the last 18 months, posting a 25% rally since the end of October. It was also announced after the bell that Super Micro Computer and Deckers Outdoor will join the index, replacing Whirpool and Zions Bancorp. 📈