Every month, we provide our EarningsBeats.com members a Seasonality Report.
We've already seen a number of our May seasonality stocks jump and LYV joined the crowd on Friday. After reporting blowout quarterly results - revenues obliterated the consensus estimate ($3.13 bil vs. $2.24 bil) and EPS came in at a loss of .25, but expectations were for a much deeper .45 loss - LYV jumped more than 15% on Friday, clearing its downtrend line and setting up for a further advance. Seasonality gave us at least a clue that this might happen:
Enter Live Nation Entertainment (LYV):
After one look at LYV's seasonality chart, it's rather easy to conclude that the stock LOVES the month of May. LYV rises during the month of May waaaay more often than any other month and its average May return is currently 8.1% (ignoring May 2023's results thus far), which nearly doubles the return of its next best month, December (+4.4%). While seasonality isn't generally my primary reason to enter a stock, I like to at least be aware of the historical tendencies.
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Happy Trading!Tom BowleyChief Market StrategistEarningsBeats.comBetter Timing. Better Trades. |