Diamonds and Dogs
KB Homes (KBH) holding in there even with higher interest rates. The homebuilder is up 9% as the company beat estimates as sales revenues fell 1.4% to $1.38 billion. A dramatic jump in mortgage rates has caused a housing correction as buyer cancellations spiked to 68% in the fourth quarter. However, demand is slowly coming back as incentives and price reductions are starting to work.
Block (SQ) taking a hit on a short seller research report. The stock formerly known as Square is down 13% as the two-sided digital payments ecosystem for merchant sellers and consumer buyers may be overstating their genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual. facilitates fraud.
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.