Diamonds and Dogs

12/15/22

Lennar (LEN) rose 3% following earnings. Earnings were lackluster and guidance was below expectations, but it seems like investors expected the bad numbers. Management expects a slowdown in both single-family and multifamily construction in 2023. Lennar will reduce prices and offer incentives to keep selling homes which will hurt profits going forward.

Krispy Kreme (DNUT) drops 8% following guidance. The donut maker had an analyst day today when they reiterated guidance but projected slower growth going forward. Krispy Kreme had ambitious goals of expanding overseas. Similar to Weber, Krispy Kreme came public again during pandemic and is down 25% over the last year. The IPOs have been tough the last several years.

 

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