$LPX Lept +21%

New 52-Week Highs led New Lows — 137 vs. 24.

May 08, 2024

Happy hump day. Welcome to Trends with No Friends.

For those just joining us, here’s an overview…

Trends With No Friends sifts through the noise and discovers stocks with high relative strength and low social following.

Why is this combination important?

Stocks that are outperforming tend to continue to outperform. Stocks that have a low social following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Social Following can really outperform as more investors discover them.

They are ripe to rip.

The major indices were muted — again.

Utilities advanced +1%. Financials and technology gained approx. +0.30%. Real estate lost -0.94%.

New 52-Week Highs led New Lows — 137 vs. 24.

The Best of the Best

Louisiana-Pacific ($LPX) is the best of the best. The forest products provider surged +20.79% following its Q1 earnings report.

$LPX lept to an all-time high.

Here’s the daily chart.

And weekly chart.

$LPX has 1,358 followers on Stocktwits.

Veeco Instruments ($VECO) is a notable new high. The semiconductor process equipment manufacturer marched +4.80% following its Q1 earnings report.

$VECO closed at a 10-year high.

Here’s the daily chart.

And monster monthly chart.

$VECO has 772 followers on Stocktwits.

Kyndryl Holdings ($KD) is a notable new high. The infrastructure technology services company carried +27.83% following its Q4 earnings report.

Here’s the daily chart.

And weekly chart.

$KD has 1,008 followers on Stocktwits.

The Worst of the Worst

ZoomInfo Technologies ($ZI) is the worst of the worst. The cloud based customer acquisition platform plummeted -24.22% following its Q1 earnings report.

$ZI closed at an all-time low.

Here’s the daily chart.