While the broader markets have been waffling due to uncertainties surrounding major issues such as the upcoming elections and the passage of a stimulus package, there have been a stealth set of underlying stocks that are breaking out of sound bases due to solid growth prospects.
Today, I'm going to be highlighting a stock that is projected to grow earnings 159% through year end. This is reason number 1 to own this stock. Here are the others:
2) The stock broke out of a 9-week base the prior week and retained that breakout level and more last week.
3) The stock crushed 2nd quarter earnings estimates when it reported in early August and bullishly guided higher going forward
4) The company's platform captured a record 18.7 million new buyers in Q2 and that number has been growing.
5) They specialize in personalized items tailor-made for the pandemic - face masks, home and office decor and high demand vintage goods not available elsewhere.
And if these five reasons aren't enough, the company's advanced technology will help purchasers reach their free shipping requirements with other items - all of which can be presented using an augmented reality tool that allows the buyer to see how an item would look in their homes before they hit the buy button.
DAILY CHART OF ETSY INC. (ETSY)
ETSY's stock was a big winner for MEM Edge Subscribers earlier in the year after the stock rose 70% from when we added it in May to its peak in price in August. We re-initiated a buy position 2 weeks ago and remain bullish on the near and longer-term prospects for ETSY.
If you'd like to be alerted to stocks in similarly positive positions complete with entry and exit points and why we like them, take a 4-week trial of my MEM Edge Report at a nominal fee. This bi-weekly report provides market and sector insights not found elsewhere.
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Warmly,
Mary Ellen McGonagle, President MEM Investment Research
