Diamonds and Dogs

6/7/23

Let's play. Restaurateur, Dave and Busters (PLAY) is jumping 18% following earnings. Dave and Busters easily beat expectations as sales rose 32% to $597.3 million. The company is seeing the consumer pull back, but still spending on experiences likes birthday parties. Dave and Busters is also expanding into India and Australia. The company has also repurchased 12% of their outstanding shares in the last year and 27% of their shares since 2017.

Pull back in the tech space. The big cap techs pulled back after opening higher, dragging the Nasdaq down 1.3%. Amazon (AMZN) fell 4% after one analyst said the company is doing too much, investing in everything from health care to grocery stores. The company made news in the last week about rumors they would enter the telecommunication space while Amazon Prime video is looking to create an Ad-support tier for consumers.

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