I picked up puts on CWH today. I think their stock buyback plans will delay the decline for a little, but I do think there’s definitely room for this to fall.
Logitech. Earnings in 25 mkns
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Not exactly negatively inflated like Carvana or SHOP but $ABT is “positively” inflated. Abbott has been selling covid testing kits like hotcakes since the Omicron variant has come out. Personally, they have been selling out in all the stores that I have been to. I’m heavily bullish on them and expect them to smash their earnings this quarter.
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I’m curious to see the results of JNJ. They had to pull their covid vaccine, which is probably just a small portion of their income, but I’m curious what kind of guidance they will give as covid seems to be all anyone has cared about with them recently.
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In Q3 2021 they did $23.34B of revenue, with only $504M coming from their vaccine (2.2%).
Agreed tho that the covid sentiment is skewed on JNJ
One more I find interesting, is Abbott Pharmaceuticals. ABT. Their 5 year chart is on a tear. They have earnings pre market Wednesday. Last 5 earnings or so they have beat, and guidance for upcoming earnings keeps getting raised. They tend to spike $5-10 on their recent earnings, but have fallen from just above $140 to a low of $120 today. Anyone have input on them? Does this seem more like a continued Covid pump for the time being, with an earnings beat maybe catapulting them back up to their recent high?
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I think ABT is the exception to the rule compared to the other companies. Covid is becoming an endemic and will continue to persist. As long as Covid is in the picture, even in the periphery; ABT will continue to make rapid tests for detection.
Yes, we don’t do rapid tests for the flu and that’s an endemic. I think once a few years of Covid variants have passed, majority of the population are compliant with their shots, it could be a possibility to short ABT. Just my .02. In the short term - I just don’t think it’s worth it. Would like to see what @whiplash & @Fate think about this.
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abbot is too diversified and after the recent dip their chart is in the trend line its been in for the last 5 years I would not touch puts on abbot. speaking of tests covid tests will continue to be of need in the healthcare community whether politically or otherwise… eventually it will become just like the flu and when you go into the hospital or clinic with a URI (upper respiratory infection) they will test you for flu and covid for years to come. also covid will need to be tested for other reasons too because it causes far more complications than the flu ever did because of the way it infects the body… via ACE2 receptor. infecting every single endothelial cell/ blood vessel in the body. this is why covid causes strokes (blood clots / micro-infarcts in capillaries in the brain) as well as peripheral vein thrombosis. there will be a continued need for covid tests for quite some time if not indefinitely.
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Are people reading the ABT post at all? I think they’re saying bullish on ABT for earnings. Honestly I agree despite supply chain issues. Even though antigen tests are generally shit, Abbott makes the most accurate one and the White House is trying to get them to supply 50%+ of the free ones they’re distributing. Plus they also make a bunch of the PoC COVID tests although those ones are shit relative to their competitors, but on rapid test revenue alone it could be looking good for calls on ABT.
Other COVID testing companies - Cue Health and Lucira, and Orasure to name a few. Roche just got a rapid test through EUA. However, nearly all of these have hit supply chain issues. While they’ve likely sold out of their stockpiles of tests, they may have to reduce guidance if they can’t manufacture tests fast enough. Cue, Lucira and maybe Orasure all include electronic components in their tests as well which make them subject to supply chain issues, although Cue is reusable and Lucira is not (lol).
However out of all of these, ABT is worth looking at for calls. I’ll need to do some more DD tomorrow
Just looked - last ER (premarket) ABT beat and jumped 4% during the day and finished up 6% on the week. Have no clue what the IV is like on a stock like ABT cause I’m on a plane rn
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I’m glad you guys all agree. I bought $125 calls on the dip today for earnings. I hope it pans out.
Puts on me
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appreciate the tickers and insights everyone. y’all rock.
going to grab a few of them and start DD threads.
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Camping World has a P/E of 11 and a dividend yield of 6,4% according to Yahoo, what’s the bear case, are they suspected to have a sharp drop in revenue?
With the release of JNJ earnings and rising in market time even with the revenue not being beat, would that be more bullish for $ABT ?
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I’m going to go bold and say AMZN. Currently trading with a P/E in the mid-50’s and is super inflated due to, well, COVID. Rose up 60% in 6 months and 70% in two years from pre-COVID highs.
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i’m eyeing NET, DASH and ETSY. ETSY in particular seems like it might be ripe for further wreckage due to the fact that its business model was uniquely suited to gain from covid lockdowns. its rise started march 2020, pre covid stock was trading in the low 40s almost 4x where it currently lives today.
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@derage9 did you play ABT today? Surprised that they said their forecast for 2022 is expected to be lower considering they just discovered another variant. Wasn’t expecting it to have dropped.
@swoleappa are you thinking of possible puts for NVAX based on how ABT performed?
I did, I got $120s this morning that were ITM all day, I’m still holding them. Down some on the $125s I got a couple days ago. We’ll see how the market plays out over the coming days. I don’t feel great about it.
Not sure how much relevance this has at all to ABT but my understanding is that it ABT does a lot of rapid covid tests. I work in telecom as a software engineer and anyone going into the office ( which is being pushed heavily) has to take these tests every week in addition to being vaxxed before they can go into the buildings. Not sure if this is the same at any of the FAANG companies as well. Hope this helps
$AMZN Me amigo, I agree on Amazon would have been beautiful to grab puts week of 1/21, but right now it’s pretty low and close to 52w low of $2707. So I’m going to wait for it to get a bit higher before I make an entry. ER is 2/3 and I think jobs report may drop on 2/4 which Amazon seems to follow if good or bad on those days. Either way I’m watching. Thanks @juangomez053
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