Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

6/21/19

 

Car sales strong at CarMax (KMX). The online car retailer is up 5% to new all-time highs following earnings. The company easily beat expectations as revenues rose 12% to $5.37 billion. Unit sales in comparable stores increased 9.5%, reflecting strong conversion and solid growth in web traffic as they roll out their omni-channel shopping to more locations. Total used unit sales rose 13%, and total wholesale unit sales increased 6.6% with the average selling price for used vehicles came in at $20,050.

Canopy Growth (CGC) loses more money. The world's biggest cannabis company is down 8% near five month lows following lackluster earnings. Sales rose 312% to $94.1 million, but the company missed estimates as they lost $98 million. Profit margins declined as expansion costs increase 426%. The company believes the quarter represents a trough for margins. Canopy Growth expects margins to improve next year and report EBITDA earnings in 2021. English translation is they will report positive earnings, but only because they will still exclude certain costs. As one of the highest cost producers, Canopy Growth has an uphill battle to growth and make money at the same time.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.