Dropbox DBX Shares Implode After COO Quits 8-13-18

Dropbox- DBX

Dropbox DBX Shares Implode After COO Quits 8-13-18

Dropbox stock falls 7% after earnings easily beat expectations, COO steps down

Dropbox Inc. reported better-than-expected quarterly earnings and revenue late Thursday, as the cloud-storage company grew its paying customer base and earned more from each user than Wall Street projected, but shares still dropped.

Dropbox stock DBX, -9.82% were down 7.7% in early afternoon trading Friday, after the San Francisco-based company’s second-quarter earnings report, which included news that Chief Operating Officer Dennis Woodside was stepping down.

Dropbox also disclosed that a post-IPO lockup on shares would expire earlier than previously planned.

marketwatch.com/dropbox-earnings-beat-expectations-2018-08-09

Dropbox Shares Tank on COO Departure

Despite better-than-expected earnings results, Dropbox Inc. (DBX) shares were down 7.3% early in Friday’s session after the company announced that its chief operating officer is leaving.

Dropbox reported 11.9 million paying subscribers at the end of June. That’s a 20% increase from the second quarter last year, and above the 11.7 million subscribers Wall Street expected.

Revenue increased 27% year over year to $339.2 million. Non-GAAP income was $0.11 per share, up from $0.06 per share a year prior.

investopedia.com/dropbox-shares-tank-coo-departure

DBX Drop Box Inc 8-13-18

DBX Drop Box Inc 8-13-18

Today's Trade of the Day | 8-13-18

Since June, LULU Lululemon struggled to remain above the $128 level. Friday's close happened when the stock market plunged lower on bad news. Relative strength plays give excellent signals for initiating new trades. I'm game planning a new swing trade long, but using a $131 buy stop to trigger the entry.  Stop loss on a close below $128, initial profit target comes in at $143.

LULU Lululemon Athletica 8-13-18

LULU Lululemon Athletica 8-13-18


Stocks to Trade | Monday Edition 8-13-18

Bullish Cash Flow Trades: ETSY, SFIX, MTCH, TTWO, YELP, LULU, ROKU, NKTR

Bearish Cash Flow Trades: CWH, Z, OC, FSLR, PCG, XRAY, CAH

New 20 Day Breakout: ddd, mtch, esrx, yelp, wp, roku

New 20 Day Breakdown: mchp, txn

Double Normal Volume: AABA, ROKU, DBX, MCHP, YELP, DDD, ESRX, AA, PBF, CI

Become a Better Trader. Get Notified.

Tape Reading the SPY ETF

SPY ETF 8-13-18

SPY ETF 8-13-18

HEADLINE NEWS

So-called bond king Gross has been ‘wrong and wrong badly,
marketwatch.com/story/so-called-bond-king-bill-gross-has-been-wrong

World stocks hit one-month low as Turkish rout spreads
reuters.com/article/us-global-markets/world-stocks-hit-one-month-low-as-turkish-rout-spreads

Trump’s trade war advantage: The US economy is ‘firing on all cylinders,’ says expert
cnbc.com/2018/08/13/us-china-trade-war-us-economy-gives-trump-an-advantage-expert-says

Cybersecurity Stocks: Many Are Hot But The Buyer Should Beware
investors.com/news/technology/cybersecurity-security-software-stocks-earnings/

Magic Leap has already banked $2.3 billion from investors but is open to raising more cash
businessinsider.com/magic-leap-open-raising-more-money-2018-8

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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bob Reply

Pete great e-mails ty-for sending –bob curran–i no longer go on FB-NOW FOR 8-MONTHS–TOADDICTIVE–TY AGAIN PETE

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