At Spaceship we’re long-term investors. But we still keep an eye on what’s happening in the market day-to-day.
The following companies in our Spaceship Voyager portfolios made some big moves last week (7 March 2022 - 11 March 2022).
Top movers:
Crowdstrike rose 6.84%
(Crowdstrike is in the Spaceship Universe Portfolio.)
Last week, from 7 March 2022 to 11 March 2022, Crowdstrike, a preeminent leader in cyber security, rose 6.84% as they delivered revenue and earnings which beat expectations and offered strong guidance for the 2023 fiscal year.
Notably, Crowdstrike achieved success outside of their core competency (i.e. endpoint device security) with modules across IT hygiene, vulnerability management, identity management and log management growing at 100% year over year, surpassing US$150 million in annual recurring revenue.
Management stated that recent geopolitical events have highlighted that cyberspace is joining land, air, sea and space as the fifth dimension of warfare. Crowdstrike have stated that the pipeline for new business going into the new year is the largest that they have seen in the company’s history.
Enphase Energy rose 8.58%
(Enphase Energy is in the Spaceship Universe Portfolio and Spaceship Earth Portfolio.)
Last week, from 7 March 2022 to 11 March 2022, Enphase Energy rose 8.58% alongside other renewable energy names, as the war in Ukraine led to expectations that the EU will expand its use of renewable energy in order to achieve energy independence.
Recently, US President Joe Biden said in his State of the Union speech that the US must “double America’s clean energy production in solar, wind and so much more”. More broadly, the rise in oil and gas prices is likely to help accelerate the transition to renewable energy.
Bottom movers:
Docusign fell 25.73%
(Docusign is in the Spaceship Universe Portfolio.)
Last week, from 7 March 2022 to 11 March 2022, Docusign fell 25.73% after reporting revenue and earnings for the fourth quarter which beat expectations, however guidance for the 2023 fiscal year was underwhelming.
Docusign have stated that the shift in customer buying patterns coming out of the pandemic happened quicker than they anticipated and they simply did not move fast enough. In response, Docusign are will progress making substantial changes to their go-to-market strategy to reinvigorate growth going forward.
Pinduoduo fell 21.85%
(Pinduoduo is in the Spaceship Universe Portfolio.)
Last week, from 7 March 2022 to 11 March 2022, PDD shares fell 21.85% as US regulators named five Chinese companies (not including Pinduoduo) that could be removed from American stock markets for failing to meet audit requirements.
Since December 2020 the US regulators have the power to delist foreign companies if organisations such as the Public Company Accounting Oversight Board are unable to review their financial audits. This law sets a three year deadline for companies and auditors to comply, with the notice to the five companies beginning the countdown.
It’s currently difficult for Chinese companies to comply as Beijing has blocked Chinese auditors from complying with requests from foriegn regulators. Chinese regulators responded that they are working with their US counterparts and making progress.
The Spaceship Universe Portfolio invests in CrowdStrike, Enphase Energy, Docusign and Pinduoduo at the time of writing.
The Spaceship Earth Portfolio invests in Enphase Energy 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.
