Cricut: Facing Strong Macro Headwinds

Sep. 16, 2022 5:44 AM ETCricut, Inc. (CRCT)1 Comment
Felix Fung profile picture
Felix Fung
491 Followers

Summary

  • Cricut is down over 80% from its all-time high last year.
  • Investors are worried about whether the DIY machinery company can continue to perform as the pandemic wanes and lockdowns eases.
  • The recent earnings are very disappointing as macro headwinds continue to weigh on the company significantly.
  • I rate the company as a sell.

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Investment Thesis

Cricut (NASDAQ:CRCT) went IPO in early 2021 and its share price skyrocketed by over 130% in a little over three months. However, as the pandemic waned and the lockdown eased, investors started to worry about whether the

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This article was written by

Felix Fung profile picture
491 Followers
I am a student studying sociology and economics at the University of New South Wales. I just started writing and I appreciate any type of feedbacks and comments.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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