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Internet retail stocks have gained back some of the ground they lost in 2022. The sector is one the strongest in mid-day Monday trading.
Notable gainers include Fiverr International (FVRR +16.2%), Hour Loop (HOUR +13.4%), Overstock.com (OSTK +9.7%), ThredUp (TDUP +8.7%), Global-E Online (GLBE +8.3%), MercadoLibre (MELI +7.3%), Coupang (CPNG +8.6%), Etsy (ETSY +5.9%), Poshmark (POSH +7.9%), Wayfair (W +4.7%) and Solo Brands (DTC +5.2%).
The positive sentiment from investors on high-growth online retail arrived a few days in front of Amazon's (AMZN +2.9%) earnings report. While Amazon and other e-commerce names will face tough sales comparables during the first half of the year, Monness Crespi Hardt anticipates that headwind will fade in the second half of the year and the year-over-year growth rates will impress again.
Amazon (NASDAQ:AMZN) is expected to report $137.6B in revenue for the holiday quarter and EPS of $3.64. The Seattle e-commerce giant fell short of consensus marks with its last earnings report.