Purple Innovation - All Time High
Long Only, Momentum, Portfolio Strategy
Seeking Alpha Analyst Since 2009
Jim Van Meerten writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte. In the past he has been an accountant, attorney, adjunct professor in Business Law, Accounting and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He also passed the Georgia CPA Exam, the Certified Internal Auditor Exam, and the FINRA Series 7, 24 and 9/10 exams.He is presently also a contributor on MSN Top Stocks Blog, Motley Fool and is a member of the M100 on Marketocracy, an elete honor chosen by the editors of Marketocracy as being in the top 100 portfolio managers of over 100,000 portfoiios they review. He would enjoy hearing your comments at JimVanMeerten@gmail.com.
Summary
- 100% technical buy signals.
- 11 new highs and up 28.72% in the last month.
- 273.71% gain in the last year.
The Barchart Chart of the Day belongs to the home goods company Purple Innovations (PRPL). I found the stock by sorting Barchart's New All-Time High list first by the highest Weighted Alpha, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 4/24 the stock gained 122.38%.
Purple Innovation Inc. designs and manufactures products which include mattresses, pillows and cushions, using its patented Hyper-Elastic Polymer(R). The Company markets and sells its products through direct-to-consumer online channels, traditional retail partners and third party online retailers. Purple Innovation Inc., formerly known as Global Partner Acquisition Corp., is based in Alpine, Utah.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart technical indicators:
- 100% technical buy signals
- 356.16+ Weighted Alpha
- 273.71% gain in the last month
- Trend Spotter buy signals
- Above its 20, 50 and 100 day moving averages
- 11 new highs and up 28.72% in the last month
- Relative Strength Index 76.93%
- Technical support level at 21.64
- Recently traded at 23.43 with a 50 day moving average of 17.49
Fundamental Factors:
- Market Cap $1.22 billion
- P/E 22.65
- Revenue expected to grow 43.00% this year and another 19.30% next year
- Earnings estimated to increase 258.30% this year, an additional 7.00% next year and continue to compound at an annual rate of 23.10% for the next 5 years
- Wall Street analysts issued 5 strong buy and 1 buy recommendation on the stock
- 1,870 investors are monitoring the stock on Seeking Alpha
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