We’ve logged some monster moves this week as volatility added extra fuel to market. 

Here’s an overview of the largest weekly moves in our portfolio of bullish positions through close on Thursday, August. 9:

Shopify (SHOP): +25%

SHOP shares surged higher this week following a strong Q2 report despite a mixed consumer spending environment. Gross merchandise volume (value of items sold on its platform) increased +22% YoY exceeding $67 billion. The company’s strong report amid a tightening consumer spending environment proves the company is taking share.On its earnings call, leadership noted, “From our vantage point, the quarter was pretty consistent in terms of what we've seen. I do know that there are a lot of people out there talking about softening consumer spend, and we hear that, too. I think from us, the key point is we are working with our merchants to help them be very successful in this environment…. we're not seeing that the data in terms of our merchants having issues. We're -- I think we're just simply taking share, I think is the best way to say it.”

Uber (UBER): +16%

Uber’s second quarter earnings easily topped expectations, with a +19% YoY increase in gross bookings and +14% YoY increase in monthly active platform consumers. Uber’s partnership with Instacart helped to boost performance and consumer engagement. We expect continued outperformance.

Monster (MNST): -12%

Monster Energy maintained its market share leadership position in the US energy drink market in Q2 but posted slower growth than expected. Net sales increased +2.5% YoY to $1.9 billion, falling just short of the $2 billion the Street was looking for. The company noted its core “blue collar” base was struggling in the current economic environment, “The current situation is unprecedented due to high inflation and interest rates. The slowdown is driven by reduced consumer spending and lower foot traffic in convenience stores.” Despite this pressure, Monster is testing price increases among brands like Bang Energy. We’re watching for traction on the pricing front, which could bring an unexpected boost to sales, or further alienate consumers. Stay tuned.

Here are 4 more stocks with major moves that investor should watch...

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