Lowes reported excellent earnings with a profit of $1.33 per share which was 12 cents a share above average estimates. Same-store sales jumped 28.1% which was well above estimated of an average of 22% predicted by analysts. Revenue climbed also above analysts but investors who were buying the stock before the open are finding out they made a mistake as the stock has been in a tailspin since.
Once again the belief is “things will change after Covid-19” and the lockdowns. Lowes has benefited from home buyers renovating during the lock down and now investors believe that will slow as people will pour money into traveling, etc., rather than home improvements.
Here is a full analysis of the stock, support levels to watch for and three trades setup this morning.
The rest of this trade alert and ideas article is for FullyInformed Members.
Lowes Stock (LOW) Earnings Beat But Stock Plunges – Three Trade Alerts and Ideas for Wed Feb 24 2021
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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