Skechers, Beyond, AgEagle, Align Technology: Retail Turns Most Bearish On These Stocks

Skechers USA Inc. ($SKX)

Shares of Skechers were trading flat on Thursday ahead of the company’s third-quarter earnings after market close. 

Skechers fell short of analysts' revenue expectations by 3.5% last quarter, reporting revenues of $2.16 billion. Wall Street is on the lookout for how the shoe company has navigated its sales slowdown in the Asia-Pacific region, particularly in China.

Retail sentiment on Stocktwits plummeted into ‘extremely bearish’ (3/100) territory from ‘neutral’ a day ago.

Beyond Inc. ($BYON)

Shares of Beyond plunged more than 30% on Thursday after the company significantly missed analyst estimates. 

It fell short of revenue expectations by 12%, reporting $311 million compared to the anticipated $352.98 million. Additionally, its loss per share was 24% higher than the expected $0.77, coming in at $0.96.

Retail sentiment on Stocktwits shifted deeper into ‘extremely bearish’ (5/100) territory. 

AgEagle Aerial Systems Inc. ($UAVS)

Shares of drone maker AgEagle Aerial Systems plummeted nearly 25% today after another delay in finalizing drone regulations by the Federal Aviation Authority (FAA). 

According to a statement by Congressional leaders, the proposed rule for beyond visual line of sight (BVLOS) drone operations may not be issued until January 2025, potentially stalling industry-wide growth.

AgEagle offers several drones that are capable of BVLOS operations and are already operating in Europe, Brazil and Canada.

Retail sentiment on Stocktwits flipped to ‘extremely bearish’ (3/100) from ‘extremely bullish’ a day ago. 

Align Technology Inc. ($ALGN)

Despite missing third-quarter revenue estimates, Align Technology’s stock was up 6% on Thursday. 

The company highlighted that there is “sluggishness” in the U.S. dental market and consumer confidence continues to remain low leading to lower-than-expected demand for the company’s main product: clear aligners.

Align Technology also announced a restructuring plan to optimize its operations, which includes job cuts and transfer of employees. The company expects to spend around $30 million on severance payments in the fourth quarter. 

Retail sentiment on Stocktwits soured into ‘extremely bearish’ (7/100) territory after already being ‘bearish’ a day ago.

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