Investors should be wary of a slate of stocks that are not making new highs during this bull market and are seeing a weakening earnings picture, according to Evercore ISI. A collection of so-called momentum misers are already seeing their 2024 earnings estimates revised downward and the stocks have few reasons that could drive them higher, according to Julian Emanuel, Evercore ISI managing director and head of equity, derivatives and quantitative strategy.
mountain MicroStrategy stock. Still, its 2024 earnings estimates have been revised down by more than 116% since the year began. MicroStrategy missed Wall Street's revenue estimates in its first-quarter earnings report on April 29. While the value of bitcoin is up more than 48% since the beginning of the year, the cryptocurrency has been under pressure more recently as its major catalysts that drove its price higher are now behind it .
Source: News Formal (newsformal.com)
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