At Spaceship we’re long-term investors. But we still keep an eye on what’s happening in the market day-to-day.
These were the companies in our Spaceship Voyager portfolios that made some big moves last week (28 March 2022 - 1 April 2022).
Want more? You can see daily price moves and company news when you log into the Spaceship app.
Top movers:
Lululemon
(Lululemon is in the Spaceship Universe and Spaceship Earth portfolios.)
Lululemon shares were up 14.52% last week following a strong fiscal fourth quarter and full-year forecast that was above expectations.
For the full year 2021, revenue grew 42% to $6.3 billion versus 2020 despite the continued impact of COVID-19 and global supply chain issues.
Looking forward, Lululemon continues to be uniquely positioned to gain from athleisurewear customers continuing to emphasise physical, mental and social wellbeing and see ‘activewear’ as ‘everyday wear’.
These tailwinds, coupled with new store openings, product innovation, and investment in their digital offering, leaves us feeling optimistic for the year ahead.
Indeed, the initial response to Lululemon’s new women’s footwear that began selling last month, has dramatically exceeded management's expectations.
The company also announced a new stock repurchase program for up to $1.0 billion of the company's common shares. This is the largest stock repurchase program in Lululemon’s history and according to Meghan Frank, the company’s chief financial officer, “speaks to the optimistic view of our future shared by our management team and our Board of Directors”.
Volpara Health
(Volpara Health is in the Spaceship Universe Portfolio.)
Volpara shares rebounded 13.73% on little news. Volpara is a health technology software business.
Their software covers over 35% of breast screening in the US. Volpara’s aim is to change the paradigm of screening from detection to prevention including risk and genetic services to reduce the global death toll of 700,000 women per year.
Bottom movers:
Chewy
(Chewy is in the Spaceship Universe Portfolio.)
Shares fell 10.47% as Chewy missed quarterly profit expectations due to higher than expected supply chain costs, out-of-stock and labor issues.
We believe these issues are likely to continue in the short-term due to a spike in oil prices.
We are focused on Chewy’s continued product innovation with Chewy seeing traction in pet healthcare. Additionally, there are plans to introduce a customer membership program and sponsored advertising for suppliers in 2023.
Unlike most ecommerce companies, Chewy’s revenue is subscription-like. Autoship or annual recurring orders increased to 70% of sales from 68%.
For more daily price moves and company news, log into the Spaceship app.
The Spaceship Universe Portfolio invests in Lululemon, Volpara Health, and Chewy at the time of writing.
The Spaceship Earth Portfolio invests in Lululemon at the time of writing.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
