With valuations sky-high and a weak jobs report on Friday, markets churned near neutral on Monday, waiting for additional guidance from the Federal Reserve.
In the current market environment, NewsQuantified Top Performers have clustered among long-play stocks receiving news indicative of dynamic future earnings. Strong future cash flows are the ultimate proof for investors in today’s highly-valued market.
Even public relations releases can have substantial stock price effects; NewsQuantified makes it possible to track even minuscule events when they begin influencing the market.
On Monday, Veritone issued a press release in an attempt to rebuff a recent assault by short sellers like Citron Research. This shorting isn’t driven by perceived operational weakness in VERI. Rather, Veritone has grown over 300% in recent months: short-sellers are betting the market outpaced rational optimism as they piled in.
Veritone’s CEO, however, insisted to Bloomberg that the stock remains undervalued. While profits remain low, Veritone believes its cloud-based AI analysis approach has market-shaping potential. Investors are betting on this technical potential, with the stock up around 10% since the news release.
Just like press releases, simple articles from influential magazines and blogs can substantially shape market sentiment.
On Sunday, the influential tech site Recode published an article reviewing recent IPO's—and singled out Roku as the strongest performer of the bunch. Roku is up around 60% since its Initial Public Offering earlier this year. It seems to be outpacing recent disappointing launches, such as that for Snap.
Roku develops hardware and software designed to deliver an array of digital video offerings to home television users.
3. Monotype Imaging Holdings (TYPE): up after announcing an ownership stake held by Starboard Value.
Our news updates provide another powerful method for tracking the decisions of institutional investors: news events triggered by major ownership stakes taken by private equity and hedge funds.
On Friday, it was revealed via regulatory filings that Starboard Value Fund holds a 6.8% stake in TYPE. Coincidentally, TYPE has gained 6.8% since the news.
Monotype creates fonts and other design elements to help companies establish unique visual brands.
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A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information. Today’s plays make the power of this news-based trading approach clear. No small investor could be expected to track all these companies, diverse across industry, market cap, and valuation.
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