At Spaceship we’re long-term investors, but we still keep an eye on what’s happening in the markets day to day.
This week, we’re taking a look at some of the bigger movements in our Spaceship Voyager portfolios from the month of April, 2024.
Moving up
Matterport
Rose 104.42% in April 2024
Matterport is a spatial data company that has a 3D data platform that helps customers create digital twins.
Its customers include real estate, accommodation, and construction companies.
Why did Matterport stock go up?
In a word: acquisition
CoStar (not the astrology app), offered Matterport a lot of money to stop being its customer and start being its owner, and Matterport took it up on the offer. CoStar’s offer was 216% higher than the last traded price of Matterport’s shares, and the market was happy about it.
Matterport is in the Spaceship Universe Portfolio.
Sea
Rose 18.16% in April 2024
Sea Limited was founded in Singapore.
Its mission is to use technology to better the lives of consumers and small businesses.
It's had interests in digital entertainment, gaming, e-commerce, digital payments and financial services.
Why did Sea stock go up?
In a word: hype
April was filled with different investment houses such as Morgan Stanley, JP Morgan, and the Bank of America favourably revising their price targets for Sea stock, showing conviction that there’s more room for growth in South East Asia.
Sea is in the Spaceship Universe and Spaceship Earth portfolios.
Tencent
Rose 14.84% in April 2024
Tencent is an internet and technology company that's been around since 1998.
Its founding principle is to use technology for good. Its services include cloud computing, advertising, and FinTech.
Tencent runs WeChat, and also has its own venture capital arm, so it's set up to profit from the growth of other companies it invests in.
Why did Tencent stock go up?
In a word: videogames
Tencent has the license to adapt one of the world’s most profitable computer games into a mobile game. The company announced that ‘Dungeon and Fighter: Origin’ would launch on 21 May 2024 after seven years in development.
Tencent is in the Spaceship Universe Portfolio.
Moving down
Kogan
Fell 34.99% in April 2024
Kogan was founded by Ruslan Kogan in a Melbourne garage in 2006.
It's an online retail business that sells products and services from its portfolio of retail and service businesses.
Why did Kogan stock go down?
In a word: earnings
The impact of quarterly earnings reports can go either way. In Kogan’s case, the market reacted badly when the company released its quarterly earnings on 24 April 2024. Gross sales were revealed to have declined by 6.2% vs the year before. Active customers had also declined.
Kogan is in the Spaceship Universe Portfolio.
Adyen
Fell 28.27% in April 2024
Adyen's a payments company that's been around since 2006. It was founded in Amsterdam.
It's helped businesses to make, take, and process payments, both online and off.
It's also developed data analysis and insight features.
Why did Adyen stock go down?
In a phrase: good but not great earnings
Adyen announced its quarterly results on 25 April that included increases in net revenue, processed volume, and just 26 new staff members. Its revenue was slightly lower than the market had expected, leading to the share price moderation.
But we think it’s important to remember that Adyen’s addressable market is not just online retail ecommerce but also in-person omnichannel payments. For example, they help run McDonald’s mobile app payments globally.
Adyen is in the Spaceship Universe Portfolio.
Tomra
Fell 19.20% in April 2024
TOMRA was founded in 1972 in Norway, when two brothers worked out a system to help a local grocer accept empty bottles in exchange for cash.
They invented the world's first automated reverse vending machine – and now people can 'return and earn' from taking their empty bottles and cans back to be recycled, all over the world.
Why did Tomra stock go down?
In a phrase: mixed results
Tomra announced quarterly earnings for the first quarter of 2024 that showed revenues in its Collections business increase, but revenue in its Recycling and Food sectors decrease. The company highlighted that if it comes down to it, there are further cost reductions it can make.
Tomra is in the Spaceship Earth Portfolio.
Keep in mind
Our investment philosophy at Spaceship is to invest “where the world is going.”
Essentially, we use our Where the World is Going methodology to identify what we think are forward-thinking companies that will benefit from future trends. If they meet the criteria in our methodology — that is, they have competitive advantages and future growth potential — we will then consider those companies for our Spaceship Universe and Spaceship Earth portfolios. (For the latter, the companies must meet other criteria.)
So while short-term movements are interesting, we remain focused on long-term trends. You can find out more about the long-term trends we’ve identified as Where the World is Going in our Spaceship Universe and Spaceship Earth portfolios, and in the Spaceship app.
Some of our Spaceship Voyager portfolios invest in Matterport, Sea, Tencent, Kogan, Adyen, and Tomra 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.
