Gaia Inc
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Communication Services : Entertainment | Small Cap Blend
Company profile

Gaia, Inc. operates a global digital video subscription service and on-line community. The Company’s digital content library includes approximately 10,000 titles, with a selection of titles available in Spanish, German and French. The Company’s network channels include Yoga, Transformation, Alternative Healing and Seeking Truth. It is a providers of streaming yoga classes. The Company through its Yoga channel its members have unlimited access to streaming yoga, eastern arts and other movement-based classes. Through its Transformation channel, it features a wealth of content in the niche areas of spiritual growth, personal development and expanded consciousness. Its original and licensed content enables members to live stronger, healthier, more productive and enlightened lives. Its Alternative Healing channel features content focused on food and nutrition, holistic healing, alternative and integrative medicines, and longevity.

Postmarket

Last Trade
Delayed
$2.51
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$2.51
Day's Change
-0.01 (-0.40%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
2.54
Day's Low
2.45
Volume
(Heavy Day)
Volume:
139,712

10-day average volume:
48,916
139,712

Time to buy home builder stocks, as 'early pain' equals 'early gain,' analyst says

8:19 am ET September 20, 2022 (MarketWatch)
Print

By Tomi Kilgore

KeyBanc's Kenneth Zener flips to bullish on home builders, as the previous 'Wall of Worry' bearish thesis has played out

Shares of home builders traded broadly higher Monday, after KeyBanc Capital analyst Kenneth Zener flipped to bullish on the sector, saying his previous "Wall of Worry" bearish thesis has played out, making it a good time to start buying.

Although Zener believes negative housing market fundamentals, such as declining affordability and slowing demand, fueled by rising interest rates, are expected to continue, he also said history suggests getting in the sector early, and suffering some initial pain, tends to pay off in the long run.

The iShares U.S. Home Construction exchange-traded fund (ITB) climbed 2.3%, while the S&P 500 index tacked on 0.7%.

As part of his new bullish stance on the group, Zener upgraded multiple companies, and their stocks all traded higher Monday:

Both Lennar and KB Home are scheduled to report third-quarter results on Wednesday, after the closing bell.

The new stance reversed the bearish call he made on the sector in mid-January, when Zener said home builders faced a "Wall of Worry (W.O.W.)," as historically high inflation superseded housing fundamentals, which at the time were still "favorable."

The home construction ETF had tumbled 24.6% since the January downgrade through Friday, while the S&P 500 fell 14.8% over the same time.

"Since our [January] downgrade (W.O.W.), fundamentals are weaker, credit policy is tighter and builder valuations are lower, so why pivot now?" Zener wrote in a note to clients. "The essence of our call lies between Jesse Livermore ('There's a time to go long, a time to go short and a time to go fishing.') and Wayne Gretzky ('Skate to where the puck is going, not to where it is.')."

Jessie Livermore was a legendary stock trader who was said to have amassed a fortune in the early 20th century, and lost it more than once, and whose trading principles are still followed by many on Wall Street. And Gretzky is a "hall of Fame hockey player who holds the National Hockey League scoring record, by far.

Zener said data going back to 1963 shows that home builder stocks fall an average of 41% on aggregate, versus a 28% drop in the S&P 500, then rise 194%, vs. a 141% gains for the S&P 500, in each bear-bull market cycle.

And from the Dec. 10, 2021 record close of $83.04 for the home construction ETF to the June 16, 2022, two-year closing low of $49.13, the ETF fell 40.8%, while the S&P 500 fell 23.6% from its Jan. 3 record close to its June closing low.

Basically, Zener said that while he's not trying to "time a bottom," his research suggests that at current prices, "relative risk to return is compelling" for investors.

"Early pain = early gain," Zener wrote.

-Tomi Kilgore

	

(END) Dow Jones Newswires

September 20, 2022 08:19 ET (12:19 GMT)

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