Shopify, Airbnb earnings give a mixed picture of the consumer

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Consumer Spending News

Scott Devitt,Wedbush Securities,Airbnb

Wall Street is seeing mixed insight into the state of the consumer as Shopify (SHOP) and Airbnb (ABNB) posted contrasting earnings. Wedbush Securities equity...

) posted contrasting earnings. Wedbush Securities equity research analyst Scott Devitt joins Market Domination to discuss those earnings and what they signal about the state of consumer spending.

You know, Scott, we've been sifting through a lot of the results, not just these to, to try and figure out what is the health of the US consumer, but these are two good examples that tell very different stories.Now it's most of its customers are not directly consumers, but it's retailers that service consumers and then you have Air BNB on the other side showing some cracks in terms of consumer demand.

And so it may be isolated to travel in a few other pockets or it could be, you know, the beginning of something broader. So, um, you know, it tends to trade at a very high, multiple relative to other companies that are in similar businesses across the consumer internet. It just, it's really valuation oriented because the, it's not, you know, it's, it's a couple of standard deviations away from the norm in the sector.

And um and booking has a sizable business, they're over 80% of the size of Air BNB and growing faster, you know. The 'OMG'- worthy plant-based formula uses jojoba, olive, coconut and pumpkin seed oil to help grow longer and stronger locks.Ian Happ and Michael Busch homered and five Chicago pitchers combined for a six-hitter as the Cubs beat the Minnesota Twins 8-2 on Wednesday. Javier Assad worked the first four innings and Jorge López worked two innings and earned the victory. The Cubs took the last two games of the three-game series and have won six of their last eight.

 

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