Diamonds and Dogs
9/11/20
Zumiez (ZUMZ) zooming higher. The hip teen retailer is up 8% following earnings. Zumiez easily beat expectations as sales rose 9.6% to $250 million. Zumiez management believes the retailer is well positioned with a majority of stores open with $300 million in cash and no debt.
Peloton (PTON) back peddling following earnings. The interactive fitness stock rose 11% on the open near all time highs following earnings, but then pulled back through the day falling into the red. Peloton beat by 15 cents as sales rose 172% as customers quarantined during the pandemic started exercising from home. Peloton received several upgrades, but with the stock trading for 6 times sales and barely profitable, investors are questioning the valuation.
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