3-Stock Lunch: Best Buy, Dollar General & Affirm

Published: Aug 28, 2024 Duration: 00:03:11 Category: News & Politics

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STOCK LUNCH." MANAGING DIRECTOR OF FX FIRST YOU, BORIS, BEST BIREPORTING A PROFIT BEAT AND GUIDANCE HIKE. SHARES UP ALMOST 14% TODAY. WHAT'S YOUR TRADE ON BEST BUY? >> SO BEST BUY IS A BENEFICIARY OF SOFT EXPECTATION. THE MARKET DIDN'T THINK THEY WOULD HAVE ANY MARGIN IMPROVEMENTS. THOUGHT RELATIVELY STATIONARY AND BEAT ON MARGIN IMPROVEMENTS. A GOOD RESULT FOR THIS QUARTER. I DO THINK, HOWEVER, THAT THE PROBLEM WITH BEST BUY ISN'T NECESSARILY THEIR BUSINESS. IT'S ACTUALLY DOING -- SUCCEED BE WELL AND MOVING BUSINESS TOWARDS A MORE SERVICE OR ORIENTED REVENUE WHERE THEIR MARGINS ARE COMING IN. THE PROBLEM IS THAT THE TECHNICAL THINGS THEY SELL COULD BE VULNERABLE TO A CONSUMER BOYCOTT EFFECTIVELY, SHOULD THE ECONOMY DETERIORATE. TO ME THE ISSUE WITH BEST BUY, I WOULDN'T WANT TO CHASE THE STOCK IF YOU DON'T THINK, AS I DO, THE MACROSITUATION WILL BE VERY STRONG INTO 2025. ANY KIND OF RECESSION, COULD BE NATURALLY A PUSHBACK FROM CONSUMERS TO BUY ANY ELECTRONIC GOODS IMPACTING THEIR BOTTOM LINE GOING FORWARD. >> MAYBE THE SAME THESIS APPLIED TO OUR NEXT STOCK. DOLLAR GENERAL. SALES PLUMMETING, MITMISSING ONP AND BOTTOM LINES. FINANCIALLY STRAINED CUSTOMERS SHARES DOWN 30%. WHAT DO YOU DO WITH THIS ONE? >> TEMPTATION, 30%. BARGAIN HUNT, A BIG, BIG MISTAKE. LIKE CATCHING A FALLING KNIFE. AS YOU SAID. THEY SAID THE CONSUMER BAY GOING FORWARD, THEY SEE IT GETTING MUCH WORSE. IF THE LABOR SITUATION DETERIORATES WHO SUFFERS FIRST? CONSUMER BASE. IN THE MIDST OF THIS, THIS WILL CONTINUE TO DO MASSIVE CAPITAL SPEND. TRY TO OPEN UP 700 NEW STORES IN WHAT I THINK IS AN OVERSUPPLIED MARKET. GIVEN WHAT THEY'RE DOING, NO SURPRISE THAT INVESTORS ARE REALLY DUMPING THE STOCK AT THIS POINT. I THINK IT'S A HARD PASS AT THIS LEVEL. >> FINALLY WE HAVE AFFIRM HOLDINGS REPORTED BETTER THAN EXPECTED RESULTS BEATING BOTH TOP AND BOTTOM LINE. THIS IS A BUY NOW, PAY LATER COMPANY THAT'S SEEN STOCK SOAR MORE THAN 30% TODAY. UP 31.35% RIGHT NOW. BORIS, WHAT'S YOUR TRADE ON AFFIRM? >> SO THIS IS ACTUALLY AN INTERESTING STORY, BECAUSE THEY ARE UNIQUE. TRYING TO CARVE OUT A VERY INTERESTING SPACE IN FINTECH WITH BUY NOW, PAY LATER SITUATION. PRECISELY BECAUSE USING HIGH TECHNOLOGY CREATING CUSTOMIZE SOLUTIONS FOR THE CUSTOMER AND EVER-EXPANDING THEIR BASE OF RETAILERS. AS A RESULT, GROWTH TREMENDOUS AND REALLY ALL ABOUT GROWTH. THIS IS NOT A STOCK YOU'RE GOING TO INVEST INTO IF YOU WANT TO HAVE ANY KIND OF QUIETUDE. PROJECTED TO GROW ANOTHER 30% GOING FORWARD, SERIOUS POTENTIAL. THE ACTUAL MARKET FOR BUY NOW, PAY LATER, ESTIMATED TO BE AS LARGE AS HALF A TRILLION DOLLARS BY 2026. CARVE OUT ANY KIND O

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