Diamonds and Dogs
Winnebago (WGO) is jumping 2% following strong earnings. Winnebago easily beat expectations as earnings jumped over 50% while sales rose 45% during their prime spring selling season. The stock is down nearly 40% for the year as investors seem concerned higher oil prices will hurt future earnings.
The reopening trade seems to be over. Airbnb (ABNB) is down 2% as the analyst at JMP Securities downgraded to Mkt Perform from Mkt Outperform. Americans are ready to travel this summer even with higher oil prices, but after that, travel may pull back particularly if the economy continues to slow.
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