Top Stocks To Short Today As Investors Overlook Jobless Claims

Although jobless claims came in worse than expected at 744,000 vs. 694,000, investors largely overlooked this and continued April’s strong start. Investors largely cheered the latest Fed meeting notes, which indicated that interest rates will stay this low for the foreseeable future. President Biden’s willingness to negotiate down his 28% corporate tax proposal was also a positive catalyst. As investors digested all this news, the S&P 500 hit a new record with Big Tech stocks leading the way. The Dow Jones was flat, the S&P 500 ticked up 0.3%, and the Nasdaq outperformed and rose 0.9%. FAANG stocks also all gained over 1%. If you’re looking for a way to play this market, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays. 

Sign up for the free Forbes AI Investor newsletter here to join an exclusive AI investing community and get premium investing ideas before markets open.

Chewy Inc (CHWY)

Pet food, supplies, and pet products e-commerce company Chewy Inc. is our first Top Short for the third day in a row. Chewy recently saw its stock have a nice pop after beating its Q4 earnings expectations, and impressing investors everywhere. Our AI systems rated Chewy C in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 0.85% to $81.85 on volume of 2,364,898 vs its 10-day price average of $80.86 and its 22-day price average of $81.81, and is down 7.93% for the year. Revenue was $7146.26M in the last fiscal year compared to $3532.84M three years ago, Operating Income was $(90.46)M in the last fiscal year compared to $(267.77)M three years ago, and EPS was $(0.23) in the last fiscal year compared to $(0.68) three years ago. 

MORE FROM FORBESChewy (CHWY)

Liveperson Inc (LPSN)

Software company Liveperson Inc is our next Top Short today. Liveperson develops conversational commerce and AI software, and is best known as the developer of the Conversational Cloud, a software platform that allows consumers to message directly with brands. Our AI systems rated the company D in Technicals, D in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed up 0.07% to $56.91 on volume of 478,946 vs its 10-day price average of $53.46 and its 22-day price average of $54.29, and is down 6.89% for the year. Revenue was $366.62M in the last fiscal year compared to $249.84M three years ago, Operating Income was $(54.63)M in the last fiscal year compared to $(15.14)M three years ago, EPS was $(1.63) in the last fiscal year compared to $(0.42) three years ago, and ROE was (54.83%) in the last year compared to (16.11%) three years ago. 

MORE FROM FORBESLiveperson (LPSN)

J & J Snack Foods Corp (JJSF)

J & J Snack Foods Corp is today’s third Top Short. The New Jersey based company is a manufacturer, marketer, and distributor of branded niche snack foods and frozen beverages for the food service and retail supermarket industries. Our AI systems rated J & J Snack Foods D in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 0.1% to $157.26 on volume of 53,122 vs its 10-day price average of $157.42 and its 22-day price average of $160.21, and is up 3.67% for the year. Revenue was $1022.04M in the last fiscal year compared to $1138.27M three years ago, Operating Income was $23.66M in the last fiscal year compared to $110.78M three years ago, EPS was $0.96 in the last fiscal year compared to $5.51 three years ago, and ROE was 2.23% in the last year compared to 14.37% three years ago. Forward 12M Revenue is expected to grow by 1.46% over the next 12 months, and the stock is trading with a Forward 12M P/E of 53.72. 

MORE FROM FORBESJ&J Snack Foods (JJSF)

Planet Fitness Inc (PLNT)

Our next Top Short for today is Planet Fitness Inc. Planet Fitness is a franchisor and operator of gyms and fitness centers all across America. In terms of number of members and locations, it is one of the largest fitness club franchises in the country. Our AI systems rated the company D in Technicals, D in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed down 0.88% to $81.48 on volume of 888,529 vs its 10-day price average of $77.68 and its 22-day price average of $79.4, and is up 10.21% for the year. Revenue was $363.32M in the last fiscal year compared to $530.7M three years ago, Operating Income was $64.16M in the last fiscal year compared to $185.0M three years ago, and EPS was $(0.19) in the last fiscal year compared to $1.0 three years ago. The stock is also trading with a Forward 12M P/E of 72.18.

MORE FROM FORBESPlanet Fitness (PLNT)

Playa Hotels & Resorts N.V (PLYA) 

Playa Hotels & Resorts is our final Top Short today. The company is a travel and hospitality company, and boasts all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen and Cap Cana. Our AI systems rated Playa Hotels & Resorts B in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed down 1.75% to $7.31 on volume of 665,022 vs its 10-day price average of $7.31 and its 22-day price average of $7.48, and is up 34.13% for the year. Revenue was $271.0M in the last fiscal year compared to $616.04M three years ago, Operating Income was $(135.39)M in the last fiscal year compared to $90.27M three years ago, EPS was $(1.98) in the last fiscal year compared to $0.16 three years ago, and ROE was (38.09%) in the last year compared to 2.64% three years ago. 

MORE FROM FORBESPlaya Hotels & Resorts N.V (PLYA)

Liked what you read? Sign up for our free Forbes AI Investor Newsletter here to get AI driven investing ideas weekly. For a limited time, subscribers can join an exclusive slack group to get these ideas before markets open.

Source: https://www.forbes.com/sites/qai/2021/04/08/top-stocks-to-short-today-as-investors-overlook-jobless-claims/