Redfin Corp.’s (RDFN) stock has fallen nearly 14% over the past 52-weeks, but it has been on the rebound in 2019. The shares of the online real estate brokerage fell sharply in August, after the company reported weak third quarter results due to a slowing housing market. Now, that may all be changing.
Institutions and hedge funds were buying the stock throughout the third quarter, and as a result, the shares were added to the WhaleWisdom WhaleIndex 100 on November 15. Since being added to the index, the stock has risen a shocking 16%, easily topping the S&P 500’s decline of about 1%.
SendGrid Inc. (SEND) has been hot over the past 52-weeks, with the stock more than doubling to over $50 a share. The cloud-based email service provider has seen its shares gobbled up by institutions and hedge funds over the past few quarters, helping to send the stock soaring on the promise of massive earnings and revenue growth.
In the third quarter, the stock was aggressively being added to the portfolios of institutional investors. As a result, the stock was placed in the WhaleWisdom 100 Index on November 15 as a result of the aggressive investor’s activity.
The shares of Boeing Co. (BA) have nearly tripled over the past three years, but investors were still flocking into the stock in the third quarter. It turned out to be a good bet because the stock has fallen about 7%, outperforming the broader S&P 500’s decline of 9% since the beginning of October. The stock has primarily become a proxy for the U.S. trade war with China, and now with signs of the trade war potentially coming to an end, Boeing’s stock may benefit.
Apple Inc. (AAPL) shocked investors when the company pre-released its fiscal first quarter revenue, noting it would come in lower than previous guidance. The news sent shares sharply lower, plunging 10% on January 3. Through January 4, Apple’s stock has now fallen 36% from its October highs.
Not all investors were caught off guard by the recent declines though, as hedge funds were actively selling the phone maker in the third quarter. Investors’ worries have centered around the trade war’s potential impact on Apple and fears of declining iPhone sales. In September, Apple hosted an annual event revealing its latest iPhone models.
Verizon Communications Inc. (VZ) has put together a stellar 2018, rising over 4% versus the S&P 500, which has fallen 7%. The stock has even outperformed the broader index during the latest period of stock market volatility, with shares falling 9% from their highs versus the S&P 500, which has fallen 15%. The stock’s strong performance may be a result of investors seeking safety during volatile times, or it is because investors see significant growth opportunity ahead for the company.