Diamonds and Dogs

8/2/19

Monkey see, monkey do. Survey Monkey (SVMK) is one of the few diamonds today up 16% back toward its IPO price from last year. Survey Monkey beat by 4 cents as sales rose 19.8% to $75.14 million. Average revenue per user reached $442, eight percent higher than $410 in the year-earlier quarter.  Paying users of the software rose 12% from a year earlier to 692,455. Some 80% of users were on annual plans, compared with 75% a year earlier. UBS upgraded the stock with a $24 price target.

Plenty of dogs for a third straight day. President Trump's decision to slap an additional 10% tariff on China has Chinese related stocks and the overall market lower. Nike (NKE) is down 2% and down 8% in the last five days as their manufactured sneakers imported from China may get more expensive. Apple is down 2% and down 8% in the last three days as Apple relies on Chinese iphone demand for growth. Alibaba, the Chinese Amazon, is down 2% today and down 8% in the last three days as expansion plans into the US should get tougher and tougher.