Credo Carries On

Walgreens Wonders To 27-Year Low

June 27, 2024

Good evening. 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 above $1B market cap with high relative strength and low Stocktwits following.

Why is this combination important?

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

They are ripe to rip.

Stocks inched higher. Every major index finished positive. The Russell 2000 rallied +1%.

Real estate ran +0.90%. Consumer discretionary and communications carried more than +0.5%. Basic materials and consumer staples stumbled approx. -0.3%.

New 52-Week Highs led New Lows — 56 vs. 33.

The Best of the Best

Credo Technology Group ($CRDO) is the best of the best. The high-speed connectivity solutions provider surged +5.32% and closed at an all-time high.

$CRDO reported Q4 earnings on May 29th — the stock is up +46.21% since.

Here’s the daily chart.

And weekly chart.

$CRDO has 629 followers on Stocktwits.

The Worst of the Worst

Walgreens Boots Alliance ($WBA) is the worst of the worst. The retail pharmacy fell -22.16% following its Q3 earnings report. The company announced it will close select underperforming U.S. stores and lowered its 2024 guidance.

$WBA wondered to its lowest price since June 1997.

Here’s the daily chart.