Another US Stock for the Bottom Drawer

On 3 June 2023 I released a Closing Bell video titled ‘A US Stock to Add to the Bottom Drawer’.

I gave Closing Bell viewers exclusive access to the recommendation to buy Spotify Technology [NASDAQ:SPOT] at US$150.

Screenshot from Closing Bell on 3 June 2023

See the screenshot above. That’s where Spotify was trading at the time…and when I made the prediction about future price action.

Let’s have a look at where Spotify is trading today.

Blast off

I reckon I nailed that one. And I hope you were watching and managed to get on it. Please leave me a comment if you did!

But if you missed out, don’t worry…

I have found another US stock to consider adding to your bottom drawer and reveal it in today’s Closing Bell video…

Now, I don’t trade US stocks in my two trading services Retirement Trader and Fat Tail Microcaps. So, when I find something compelling offshore I reveal it for free to Closing Bell viewers.

The stock I reveal today released quarterly figures yesterday and the market was impressed.

Their share price jumped 20% on the day, but I think there is more upside to come.

Of course, there are no guarantees here, as there are always risks involved when it comes to investing.

But to give you an outline of the numbers released, Q3 revenue reached $919 million. It marked a year-over-year growth of 29%, surpassing its guidance of $860 million to $885 million.

Daily Active Users (DAU) is a key metric when analysing websites. And this company reported a record 88.9 million DAUs, a 27% increase from the previous year. User growth was especially high in the Asia-Pacific (APAC) region, with Japan’s DAUs up by 59% and India’s by 55%.

Today’s free US stock tip has been stuck in a range for two and a half years. Now, it looks ready to break out of the range on the back of the strong growth numbers.

A long-term range is like shaking up a coke bottle. When you finally take off the lid things should explode.

If you want to understand how I managed to pick Spotify Technology as a great opportunity just before it blasted higher, make sure you read ‘The Lessons’.

It teaches you the six key lessons I have learned over three decades of trading markets.

Once you have done that, check out the next US stock that I think is on the cusp of much higher prices by checking out today’s instalment of Closing Bell below.

Be sure to follow the YouTube link on the video and press ‘like’ below the video. It really helps to get my work in front of more people. I really appreciate you making the effort if you enjoy my work.

I’ve put together insights from my 30+ years of trading that will help you navigate market volatility and improve your performance.

I believe that the key to long-term investing success is a solid trading plan and risk management process. I put this into action in my service Retirement Trader.

You can learn more about my approach by clicking here to get access to 30 years of trading knowledge.

Regards,

Murray Dawes,
Editor, Retirement Trader and Fat Tail Microcaps