EarningsBeats Digest

Published: Fri, 04/29/22

EarningsBeats.com Digest for April 29, 2022

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Looking Like The Monday Blues For This Software Company

It's earnings season, so I'm constantly looking at company's that are about to report their latest quarterly results. Some are great performers where good news seems imminent, but others? Well, not so much. That brings me to BigCommerce Holdings (BIGC), which has been downtrending for months. BIGC was at 64.14 on November 10th and it closed yesterday at 18.67 on Thursday, even after rising nearly 10% on the session. But check out this chart and tell me how Wall Street could possibly be expecting good numbers:

The chart is a ski slope. It's part of a very weak software space ($DJUSSW), which is part of the problem. The other part is that BIGC is one of the weaker software stocks. There is one silver lining and that's that the selling momentum appears to have slowed based on the positive divergence. So if BIGC does come out with bad news and a gap lower, perhaps it sees some short-term relief. It's not something I'd put MY money on, but the positive divergence does give BIGC a little short-term hope.

Happy Trading!

Tom Bowley
Chief Market Strategist

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