Although the market was in a selloff today, there are some oversold names that beckoned re-evaluation.
Zillow (Z) sank down in the morning to $68.58, then, rallied to $76 for the close, almost up +5%! On Tuesday, the company reported better-than-expected earnings. Its stock jumped in after-hours trading on Tuesday to above $85. But, the stock quickly traded lower after Wednesday's open, and headed even lower on Thursday morning, before reversing its course. I think this is oversold, and, its worth a look now.
Herbalife (HLF) popped more than +17% today after reporting a strong quarter and raised its guidance. HLF was weak for a whole year in 2014, as it was a focus short by William A. Ackman. It was not until Icahn stepped in and made bets against Ackman that HLF found signs of life again. After this quarter's earnings and a strong forecast, it does not seen like Herbalife will go away any time soon. I think this could trade above $65 soon.
3D Systems Corporation (DDD) and Stratasys (SSYS) have been trading lower for most of the year. DDD was a $90 stock back at the beginning of 2014. It trades now just above $13! SSYS traded above $130 in October 2014; it is now just above $30. Both companies have just recently reported solid quarterly numbers. SSYS was upgraded this week, first by JP Morgan to an "Overweight", then by Citigroup to a "Buy". Today SSYS was up +9.32% and DDD traded up +16.24%. I am looking for SSYS to trade above $35 and DDD to trade up to $15-$16 in the near term.
Good night and HappyTrading! ™