Tech sell off probably ain’t over yet. Plus an update on Axogen.
Reprieve from the selling pressure today. Brief or not, is the question. I don’t think this sell off that we’ve seen over the last week is over already, and am likely to do some nibbling if there is another whoosh down.
In a continuing trend, good earnings/guidance are being rewarded a little bit to the upside (see our position in Sony today, or Google and Amazon last week) while bad earnings/guidance are being slammed (see Facebook, Twitter, Intel last week).
A couple other notes — we’ll do this week’s Live Q&A Chat tomorrow (Wednesday) at 12pm ET in the Trading With Cody Chat Room.
When markets get hit, the TWC Chat Room picks up a bit and I know that the discussions we’ve been having in there the last few days are probably things that most of you have on your mind. If you’ve got something on your mind about the markets, the economy, our stock picks, cryptocurrencies or anything else, please be sure to join me in at this week’s Live Q&A tomorrow or just hit reply on this email and I’ll include your question in the transcript.
Axogen update too: Axogen still the best solution for nerve connection/growth? Any worries or signs of bad stuff at Axogen that you know of?
One of my subscribers sent me this thread that really bashes Axogen from a salesperson’s perspective.
I have another source from the reconstructive surgeon industry with whom I had the following back and forth when I asked him about the negative commentary about Axogen in that thread:
“I read that thread. I have to say from an end user perspective I don’t see any of that. I just used their product twice last week. The next to last person that was calling people names is a bit crazy too. The ‘fat guy with the bow ties’ is probably referring to their VP of clinical. He is not a POS or any of the stuff they say. I don’t know anything about Axogen’s financials but there is nobody in this space and I thought their sales had been increasing year to year. I think if they can execute internationally then there is still a huge upside, though I don’t know who their competitors are (if any) outside of the US.
I do think that what you are looking at are the comments of a sales force. I don’t know how important a sales force is going to remain for this company. The reason I say that is I don’t need a rep for my cases. I do what I do with or without them. When they come to my cases they are just wasting their time since I know what to use and how to use it. They are useful for people new to the product and technology. So, over time, that means their jobs will become less and less important since as people become familiar that Axogen’s is just a product we take out of the freezer.
But again, I don’t know anything about heir numbers or financials. If people are worried they should trim. That thing is up almost 1000% since you bought in.”
I simply wrote back: “That’s exactly what I’ve been telling my Trading With Cody subscribers about trimming some and locking in profits on stocks that go up 3- or 5- or 10- or more-fold. Thank you so much for your insights.”
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