Rough day with MDB today. Rumor came out that Lyft may be looking to replace MDB with a different provider. Hard to tell if this is a buying opportunity or internal challenges for the company? I’m Sure we will hear more on the earnings call but the stock is down 10% today on the rumor. That said, it’s still up significantly from a month ago when Amazon announced they were entering the space and MDB got hit for a day or two and then turned around and headed higher over the subsequent weeks. In retrospect it was a good buying opportunity. Can’t dodge these sorts of things, though. Tomorrow will be a fun day of earnings…here is hoping it is described as “fun” anyway after the fact!!
If Lyft is in fact gone as a customer from MDB… From the 10K annual report on page 8:
Our Customers:
As of January 31st, 2018 we had over 5,700 customers spanning a wide range of industries in more than 90 countries around the world. All affiliated entities are counted as a single customer. No single customer represented more than 10% of our revenue on fiscal year 2018.
Not sure SQ or AYX could have delivered better quarterly results today…both are absolutely incredible companies that delivered on all fronts. They are down after hours as the traders sell the news and take profits. AYX down 4%. SQ down 7%. But I expect both to continue to outperform and the stock price to follow them up. I will continue to hold both of the positions as I have for over a year now. Note: both of these stocks are up 12-15% in just the last 2 weeks already if you have been watching. 👍
If these were not already two of my largest positions, I might add some on any dips tomorrow. Long term the compelling story is still completely in tact.
User comment: I was just about to ask about ESTC. Looks like a similar drop after hours.
Victor: Another phenomenal result. 70% q/q revenue growth. I will continue to hold this one, also. They absolutely crushed it. I can’t control traders short term, but long term the stock price will catch up to this company’s growth.
SQ has turned itself all the way around and it’s now up two percent from yesterday‘s close, After being down over 7% after hours (that is, its come back 9% since the after hours traitors/traders hacked it up). 😉. Elastic is still down 8%, but has several upgrades this morning by other analysts, however, I give very little credence to what analysts say. I still like the company and it’s earnings and may even take the opportunity to add a little bit to it. MDB is up again today over 3% and has almost completely recovered after taking a hit for supposedly losing LYFT as a customer, one of 6000 customers. No surprise there and congrats to you if you had some on the dip in price. Pretty good day!! Cheers!
TWLO recommended quick read:
https://www.fool.com/investing/2019/02/27/why-twilio-is-my-top-stock-for-2019.aspx
