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Stockmovers It's a podcast on Apple, YouTube, Spotify and arrests Strong On a Friday, was Stockmovers is Alexis Brunson.
Oh sho I am when I adopted this entire series, That's who I am? SENDBASI. Okay, let's start with lulu Lemon. This stock taking it on the chin here in the pre market down twelve percent, So if that holds, Lululemon's going to hit its lowest level since twenty eighteen. The stock has declined forty percent so far this year. It's one of the worst performers in the S and P five hundred. So why all right? Well, the most recent news, Yes, Tom wants.
To say, I'm listening.
Oh oh, this is him listening. Oh listen, this is they lowered their annual forecast, deteriorating a demand in North America. Revenue and profit guidance for the current quarter also below expectation. So here are the problems and they are piling up for Lululemon. Increase competition from brands like Alo Pass their store the other day, just yesterday on Fifth Avenue, a bunch of people in there. Spate of poor product launches
like those see through leggings. Who wants to wear sea through leggings?
I try.
They're also facing a probe from the Texas Attorney General's Office over the alleged use of Forever chemicals. Then you've got their billionaire founder, Chip Wilson criticizing the company.
It's question, Yeah, do are they just out?
I feel like with the with the young kids they are, they used to have a cool factor and the edge, and I feel like something's missing. Yeah, there you go. And so they're getting a new CEO, Heidi O'Neal. So she definitely has, you know, her work cutout for her when she takes over in September. Let's move on to Docuse. Ticker symbol DOCU down four point six percent. It is off twenty five percent year to date. This is an
electronic signature company. Reported a rise in first quarter profit yesterday after the market closed, and guided for a slight increase in revenue. And here's when you get into the minutia. The annual recurring revenue rate was unchanged like between eight and a quarter and eight and three quarters, and investors might be disappointed by that. They want it sort of a timeline for when DocuSign is going to return to
double digit revenue growth. But overall, an analyst over at Jeffrey said, these results from docusigine, they show a good start to the year, especially given the lack of any negative AI impact. I mean, I think that's as good as we can hope for now, as these companies are not coming out and saying we've been clabbered by AI, all right, and let's move on to actually a tryad of companies that are being hit by what's happening with bitcoin.
So these cryptocurrency related companies, Coinbase, a robin Hood Strategy, they are all lower in the pre market. This is as Bitcoin now about two and a half percent, so just below sixty two thousand dollars. It was lower even earlier this morning. And by the way, it's not just Bitcoin. I checked out Ether lowest level in over a year now falling more than eight percent to sixteen twenty five.
But look, it all started on Monday, right when a strategy announced it sold a small sum of bitcoin for the first time since twenty twenty two, and their head Michael Saylor, remember, had said I'm never selling, So I think that really freaked the market side.
I should agree with that, But what else is going on? And I don't have a straight answer.
I don't know. They're seeing a lot of outflows from these cryptocurrency et yes, exisode. Yeah, some companies se exactly, and they're sort of decoupled now from the tech rally because they were running in tandem and now they're not.
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