Nice technical setup and an interesting earnings report. To begin with, the CEO will be departing by year end, which normally is a long term bullish pattern after a huge decline.
Branded checkout maintained E-commerce market share during 2022, and guidance is surprisingly positive if we don't have a recession here: "2023 guide assumes pressured discretionary spend. We see signs of cooling inflation & it's logical to expect rising discretionary spend... but we did not build this into forecasts. Q1 is starting stronger than anticipated with branded checkout accelerating." (Schulman dixit).
There was a substantial risk reduction from cost savings and layoffs (around 600m) which investors will appreciate as a safety net in this environment.
It's been a long winding fall, since the stock peaked in late 2021:
This could be the next $META type idea...Worth a shot.
Best of luck!
Cheers,
Ivan Labrie.
Branded checkout maintained E-commerce market share during 2022, and guidance is surprisingly positive if we don't have a recession here: "2023 guide assumes pressured discretionary spend. We see signs of cooling inflation & it's logical to expect rising discretionary spend... but we did not build this into forecasts. Q1 is starting stronger than anticipated with branded checkout accelerating." (Schulman dixit).
There was a substantial risk reduction from cost savings and layoffs (around 600m) which investors will appreciate as a safety net in this environment.
It's been a long winding fall, since the stock peaked in late 2021:
Best of luck!
Cheers,
Ivan Labrie.
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