Hedgeye CEO Keith McCullough is adding Spotify (SPOT) to the long side of Investing Ideas. Below is a brief note.
#Process: first I cover shorts on red, then I start buying longs that are on sale...
Spotify (SPOT) is a good example of:
A) Bullish @Hedgeye TREND Signal that my analyst likes ... that
B) is correcting towards the low-end of its Risk Range on very light volume
Here's an excerpt from Communications analyst Andrew Freedman's Communications Pro research product on why he was getting incrementally bullish on OCT 26:
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Lastly, we are moving Spotify (SPOT) a few notches higher on the active long side ahead of earnings tomorrow morning. The mobile app download data continues to be strong, along with the Top 200 streams. One of our agency contacts also flagged a consumption shift back to music in 3Q21. |
Buyem on red. Don't chase on green,
KM
