LikeFolio Weekly Roundup

October 4, 2024

Tough week for the market on the back of major port strike that threatened disruptions to US supply chains. (This strike has since been settled.) The SPX is red over the last 5 days and so are most of our positions over the last week.

Here is an overview of the largest movers through close on Thursday, Oct. 3.

Palantir (PLTR): +6%

Our top performer of the week. Palantir Technologies’ stock hit a new high Friday, extending its 130% rally this year driven by enthusiasm for its AI capabilities. While some analysts are skeptical of its valuation, we see FOMO driving shares higher and believe the stock could push even further despite Chairman Peter Thiel’s recent $457.4 million share sale. Hold.

Lululemon (LULU): -6%

LULU shares sank following Nike's weak report on fears trends in athleisure will hold back the leggings connoisseur as well. Fortunately for Lululemon, we don't think the company will suffer the same fate. Our data shows YoY growth in web visits to lululemon's site ahead of the holiday season vs. serious underperformance from Nike. We're already seeing some of a bounce back today. Remain bullish.

Checkout the rest of our weekly roundup, including big moves from TSLA, MBLY, and AUR here.

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