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Daniel Snyder: Welcome, welcome, welcome to “Stock Market Live.” Thanks for tuning in today. Joining us, we got everybody showing up right now. We got Anna, we got Charles, Dan, Nick, Ralph, everybody. Welcome if you’re joining us on YouTube, LinkedIn, Facebook, Twitter. I’m Daniel Snyder here on “Stock Market Live,” your 12 o’clock lunch hour. Thanks for joining us today. Grab a drink, grab a lunch, do what you do. We’ve got everybody showing up; Brian, Charles. I think I said Charles already.
But you guys know, I’m joined here by Mike Saul. You might know the man, the myth, the legend from “Monday’s Webinars” of What’s Happening in the Stock Market found here on “Seeking Alpha.” Mike, obviously, there’s a lot going on in the market today. We’ve got a full show. We’re joined by a special guest, Scott Kaufman from High Dividend Opportunities. We’ll get to him here, probably towards the bottom of the hour.
And we’re gonna start though, because, we’ve got a lot to talk about. We have a stock that was pitch us last week. We’re gonna break that down, as well as talk about Apple. Because obviously, Apple’s event is today in one hour, and we’re gonna make sure that we’re gonna wrap this up, so that everybody can get over to that event right after this, ’cause we’re all waiting to see what happens. But, Mike, what’s got your eyes right now in the market? What are you watching?
Mike Saul: Well, right now, I’m watching crude oil kinda collapse. It was holding on to its 200-day moving average. I’m do it using the Futures, just the October contract. But you can use, if you don’t have access to Futures, you could pull up USO, you could pull up OWL, whatever you’d like to use. But the Futures are the purest form. And I’m talking about, this is Western Texas, whatever it is intermediate or the sweet oil, right? Whatever that is.
– WTI.
– Yeah. So, what happened was crude oil came down in August, tested its 200-day moving average, got a bump up to the 50-day moving average, and played a little pinball there. Rejected, and then hit, came back to the 200-days, stayed there for three days. Then over the weekend, there was news from OPEC Plus, said they they’re gonna cut production. So, I buy whatever and it’s 100,000 barrels a day or whatever it was, and crude oil pop 3%, it was shortlived. And it was barely hanging onto the 200-day. And today, as I’m watching it right now, it’s down 4.2%, but it’s pretty volatile. And it’s down to the low 80s, the lowest number it has been. If it closed here, it would be the lowest close since February. So, I have support sitting lower at about 71.50, which is still, You know what I mean? What’s that another 10, another $11 here. 11 from 8 is what? I’m doing the math quick. 14%, whatever it is, right? I mean, whatever, we can round up.
So, oil, I mean, for the next support level, I’m looking at still has about another 15% down. So, again, I mean, people who are complaining about gas prices, which by the way, is all of us, are gonna be a little happier, ’cause gas will come down off of this, so that’s good. But again, what is it saying? What is Energy saying? Energy stocks have been one of the strongest… I mean, have sorry. Have been the strongest group in the market this year. There are only two groups that were green coming into this week, Energy and Utilities. And unless Energy collapses here, which it doesn’t look like it’s going to do, but it’s just pulling back for now.
Energy will still be positive on the year, but we saw Warren Buffet plowing with Berkshire Hathaway (BRK.A) (BRK.B), plowing at accidental. We saw the nice moves in stocks like Devon Energy (DVN), and Exxon (XOM), et cetera, a whole bunch of em. But now they’re taking a rest here. So, where is that rotation going?
Looks like the rotation is going to the broad market, to the other groups in the broad market, and specifically into retail. So, one of the stocks that I mentioned before this, and was Ulta, right? So, Ulta Beauty, U-L-T-A, is the symbol it’s breaking out today. It’s up 2.3%. And one of the things about a stock like Ulta Beauty (NASDAQ:ULTA), is they sell cosmetics and cologne. That’s why I bought my cologne. And I’m not kidding by the way, that sounds like a joke. ‘Cause why do I need cologne, I work from home? But actually, when I had to go back to the office a couple of years ago, I said, “I don’t feel like smelling like an animal every day. So, I’m gonna buy a little bit of cologne.” All right, really bad digression there.
But it’s a cosmetic place and it’s a very popular place. So, why is a stock like Ulta breaking out? Why is a specialty retail stock like Ulta breaking out? Well, there’s something that coincidentally is known as the lipstick effect. So, when times a tough, economic go wise in the economy. There we go. Economy-wise, what happens is people say, “You know what? Instead of four vacations this year, maybe I’ll only go on two. Maybe I’ll hold off on the boat purchase, or on the big car purchase.” But what they want to do, is they still wanna feel special and they still wanna treat themselves.
That’s why you see things like coffee shops are busier, ‘Cause people are like, “Well, I’m not giving up my coffee.” And what they do, is they like to buy small luxury items, such as expensive lipstick, or nice cosmetics. So, a stock like Ulta is it’s not recession proof. I don’t believe in that term, but it’s recession resistant. How about that? Because people still wanna spend their… Look, in the United States, we are rabid purchases. We are rabid consumers. People love to spend money, right? So, if they can’t buy the big purchases, they still wanna feel like they’re treating themselves. And that’s why they go to things like Ulta Beauty, et cetera. Whoa, sorry about that.
– It’s a solid point, man. We got a concert going on, on your side. but it’s a solid point, right? And that’s one thing that we’re looking for, is we’re looking for the Apple event today. Is Apple (NASDAQ:AAPL) going to introduce a new pricing plan to bring the price point down on their devices, potentially, for people to feel like they can afford those things and still splurge on those spends?
– Right, and one of the things with Apple that I’m really looking for, is I’m looking for Apple to come out with an all-in-one subscription product. And I think that is-
– Right, Apple One. Apple One, you can get Apple TV, you can get iCloud Space. I mean, they’re working on the games and news.
– Right. But how about this, Daniel? How about-
– They include the product?
– Somebody like you, who is in the ecosystem, right? You talked about that last week, how you’re in the Apple ecosystem already, you have it all. You have the the Ear Pods, you have the phone, you have the MacBook, whatever it is. How about you don’t sit around and worry about when the next iPhone’s coming out? You are on a subscription plan, you get it automatically. It’s automatically sent to you. So, Amazon (AMZN) tried this a while ago with this Zero Click ordering, where they just send you stuff. And if you don’t like it, you send it back. Didn’t really work that well. I’m still thinking that could be the future of e-commerce, but it didn’t work right out of the gate ’cause people are like, “I’m not sending it back and I’m not paying. So, how about that?”
But anyway, so what if Apple came out with a supercharged subscription plan, where now, not only do you get everything that you mentioned, the streaming service, all that stuff. But what about if you also got the new phone when it came out automatically? And here’s what you do, you’ll get the new phone, your payments will just keep continuing. That’s something.
This ties into Ulta Beauty, also, not directly, but also what we talked about with the lipstick effect, is people in tough times, people’s cut costs. But what they don’t cut, are things that they feel they really need. And something like getting a new iPhone every time one comes out. I know, look, I’m on an eight, and I’m fine with my eight, but whatever. The point, a lot of people think, “No, I gotta have the new iPhone. I’m gonna keep this subscription going. And every six months, when Apple comes out with the new phone, I’m gonna get that. That’s a priority for me.” Oh my goodness. Hey, Google stop. How about that?
– You need Apple Siri home pod. There you go.
– That could be a priority in this economy. So, yeah, I don’t expect Apple to announce something like that today. From what I saw, it looks like they’re gonna boost the prices a little bit, about 100 bucks a piece. They’re gonna make bigger screens on the phones and all that stuff, so we’ll see. I don’t know what to expect here, if it’s gonna be a rager or a dud. But it’s definitely something to pay attention to. Like you said, Daniel, it’s an important day.
– Yeah, we’ve got some… We gotta move the show along. Let’s get into some of these charts that we brought for everybody. Obviously, we wanna start with the overall markets. Mike, I know you brought some charts. Josh, let’s go with chart on. Put it up for us, the first slide. There we go. Mike, what are we looking at here?
– [Daniel] Okay, so the SFP 500 last week, if I talked about how this projected trendline was coming into play. Well, it hit that trendline yesterday, that’s this red candle right here. I think you could see my arrow. It pushed down below it, but it closed right on it, and today we’re getting a bounce. So, right here, could be potential support and we could get a potential bounce here. Again, I am not calling a low, I am not saying we’re gonna go to new highs from here. This is a short term. Even though it’s a daily chart, it looks at the bigger trend, I’m looking for a short term potential bounce here. And if this doesn’t hold, well, that says it could go down to one of your favorite areas, which I know, Daniel, I’m sure you’ll talk about it, is this gap down here. So, right here, in my opinion, I don’t know if this is the bull’s last stand, if we have to hold here. I’d like not to get that dramatic, but I think it’s an important inflection point. And if it gets a bounce here, let’s see how far we can get. Maybe we can get back to the 50-day moving average up here, which is this blue line. Or if we don’t, maybe if we just fizzle out, then we could accelerate down to that gap.
– [Daniel] Well, let’s look at the levels. Josh, next slide. I actually pull this chart myself from my side, ran off a little Fibonacci, ’cause I love the Fibonacci retracement. And there you go, matching up with the moving averages, as you just pointed out. You see the gap I’ve drawn there below the market, that’s kinda what we’re looking to fill. You hear me week after week, 80% of the time gaps fill. Now, also, there is a gap above the market, but that might not fill for a long time. That could have been a gap and go, for all we know. But we’re definitely seeing the bounce right there on the 61.8 retracement as well, which matches up with that moving average like you were talking about. And real quick. L.C, I see your question here. “Where can we watch the Apple conference?” You can actually watch it on YouTube. They do stream it live. It’ll be up at 1:00 pm. I think I actually haven’t pulled out myself. There’s over 100,000 people waiting for the conference to start. And obviously, we wanna have you guys be able to get that as well. So, let’s keep running. Mike, talk to me about the cues. Josh, next chart.
– [Mike] Okay. So, the cues’ different story. The cues broke their projected trendline, which is now a real trendline. It tried to hold it last week. So, today is Wednesday. So, it was Wednesday, Tuesday, Friday, ’cause Monday we were closed. Thursday and then Wednesday. So, the day we were doing this last week, it came down, tested this trendline, held it, broke below it, tried to remount it on Friday, but turned around and traded lower. Once again, I’m sure you’ll show this gap. But right here, if we can’t get back above that trendline, then it’s looking like we could head back down to this gap flow. And these are minimum targets, by the way, okay? I’m still thinking that we test the lows, but that’s a different. Right now, we’re just looking short term. And what also can happen, when trendlines get broken and then they’re retested from underneath, it’s called the change of the… Wow, I don’t know what it’s called anymore. Wow, I’m sorry. I’m getting a little brain pause there.
– [Daniel] No, that’s all right.
– [Mike] But yeah, it’s all it’s called, whatever it is. When previous support becomes resistance. Change of polarity. Change of polarity. There we go, I knew I’ll get it. That’s in Steve Nissan’s book “Beyond Candlesticks.” So, this is previous support, it held dear. When it comes up to retest it, change of polarity, it may hold as resistance and roll back down here. Again, putting the cart in front of the horse, ’cause right now, all it’s doing, is getting a little bit of a bouncier. But this breakdown here of this trendline, doesn’t really look too bullish to me on the NASDAQ.
– [Daniel] Yeah, same. Josh, let’s go to the next chart here. I have the same thing I was pulling this. And also, I meant to say the trendline on the pie chart, not the moving average. But you see, we’re also getting this reaction. The same thing on the cues as we saw on this pie. That 0.618 retracement is just becoming a little bit of a level of support is where their battle… It’s almost like a battle zone, right? Between the bulls and the bears trying to figure out who’s gonna take the lead here. But I agree with you. I mean, overall market feels, we know it’s still a risk off market. It doesn’t feel too bearish right here. Definitely a few key levels to watch. Obviously, we might go all the way back down to that 2 69, 28 that we saw at the bottom of June. But obviously, time will tell. All right, walk us through IWN please, Mark… Or Mike. Sorry.
– [Mike] It’s okay, either one is right. I answer to all names, it’s okay. So, this is the Russell 2000 ETF. This is the small caps. Why? The small caps’ important? Well, the small caps are the highest speculative stocks. And you could go more and you could say, “No, the penny stocks, whatever.” I’m talking about stocks that are actually real companies. That make it to the Russell 2000. So, right here, we have not hit the trendline yet. I’m just projecting it here, because as we talked about last week, it’s only at two points right now. It can’t be a real trendline until it tests three points, but I’m projecting it here. So, the Russell is showing better relative strength. It’s still nothing great, it’s still below the 200-day and below the 50-day moving average. But at least it hasn’t tested its trendline yet. So, again, we’ll see if we continue lower, what it does at that trendline. But on the upside, if it were to bounce, I wanna watch that freshly broken 50-day moving average, which you see here, it gap down below it, came up and tested it again on Friday. And now, it’s trading lower once again. So, that’s what I’m seeing on the Russell.
– [Daniel] Yeah. Josh, next chart, please. Here we go. Once again, right back to that Fibonacci level. That’s why I pointed out time and time again. Obviously, IWM is the weakest part of the market, typically when we’re seeing Downturns, a lot of small companies. All the things that Mike said as well. So, just something to keep a look on. Now, before we move on, I actually have something I just stumbled upon this morning while I was looking across Twitter feed. And, Mike, I wanna throw this up. And I want you to tell me, which stock kinda sticks out to you the most? Why don’t we go ahead into the next slide, Josh? This is 2022 returns on some of the biggest names covered across the market. And this was pulled, this was yesterday from Charlie. If you don’t follow him, he’s great follow. Does a lot of charts, has a great newsletter. Which one sticks out to you the most here?
– [Mike] Wow. Trick question. This is proof that we do not commiserate before. Because, hope I don’t get the answer wrong here. So, what I’m looking at, let me see?
– [Daniel] This is a year today returns. Now, the interesting one at the top, Twitter (TWTR) only down 11% with everything going on with the Elon Musk trial. Obviously, we had the news come out, whistleblower is gonna be allowed to be a part of the trial, but they’re not gonna accommodate Elon Musk and his team on the timing of this-
– [Mike] They were trying to delay the trial ’cause there’s no, allegedly no… What their argument was, was there’s no rush, which I don’t understand. But anyway, they already denied that. So, yeah, Twitter doesn’t stand out for me because it has artificial. It’s a merger. So, it has artificial oomph to it, sitting out. I mean, if I was looking at all of this stuff, I would probably look at Apple only being down 13% when a lot of its cohorts are down, or at least down the 20s.
I mean, the former FAANG Meta, or I guess Meng, right now that it’s Meta (META) instead of Facebook down off more than half. Although, not surprised, we talked about Meta last week, and we met a platforms last week. And we talked about how weak it was. But Apple was the one that stands out, I guess the most to me on this one, and, of course, Tesla (TSLA). But again, that doesn’t surprise me either, because the fan base is so large there. So, yours is Twitter, the one that stands out?
– No, actually I was gonna say, I think mine’s actually GameStop (GME). AMC, Bed Bath Beyond (BBY). We’re seeing all of those meme stocks get destroyed, and GameStop’s towards the top of this list. I was a little surprised. I thought it would be closer to the bottom with all of that. But anyways, just an interesting chart there by… Interesting graph for everybody to look at. Mike, why don’t you go ahead. I wanna go ahead and tell everybody. Hold on one second, Josh. Go ahead and take that down for me.
We have a seeking office service now called Alpha Picks. Mike, I was wondering if you might be able to tell the people what Alpha Picks is about? Just real quick.
– Okay, so what Alpha Picks does, is Alpha Picks takes the best of the best from the Quant Ratings, and backs it up with research behind it. So, what it does, is look, I read a lot, but I’m a slow reader. And I always have been, it’s definitely one of my curses that my incredible good looks, that’s very tough. A lot of people don’t take me seriously, because I’m so handsome. But I’m a very slow reader. So, when I have to go through and I’m researching a stock Seeking Alpha, it takes me hours to do it. Because there’s so much information, and I’m very easily drawn to the rabbit holes. Now, there’s nothing wrong with that. If that’s what you enjoy, that’s fine.
But what Alpha Picks does, is now, it takes me about 11 minutes, and that’s, of course, I’m a slow reader. For normal readers, forget fast readers, it takes about six minutes. To read all the research, backing it up, you know the stock has strong Quant Ratings, otherwise, it wouldn’t be on the list. That’s not what would make it there. And it gives you two picks a month. So, even if you are a complete, “No, I do it all myself.” Okay, that’s great. But now you have something else. So, now what you can do, is while you are looking for the next Apple, the next Tesla, the next whatever you’re looking for, you have something else to keep you going, right? So, what is the saying, Daniel? “Give a man a fish and you’ll eat for a day. Teach a man to fish, you’ll eat for a lifetime.” Okay, but what if it takes a couple days to teach a man to fish? You’re gonna starve. So, how about giving them a couple of fish while you’re teaching them to fish?
And that’s why Alpha Picks is so great. Because now, you are getting the fish, and you can mong while you are also doing the research on your own stuff. and look, $99 a year. I’m sorry that I’m laughing. For some people, that’s a lot of money. I’m not mocking anybody who can’t afford that. So, please don’t take it that way. I just think it’s ridiculous. It’s such an attractive, to put it mildly, an attractive value, two plays a month, $99 for the entire year. And this isn’t somebody just screaming about insider this or that, or hype this or all that. It’s backed by the Quant Ratings, which is also, it’s the only place in the world where you get two stocks a month that are top Quant rated, and have the research to back it up. Nobody else can do this, because nobody else has the Quant Ratings that Seeking Alpha does. Steven Cress, head of Quantitative Strategies, 35 years on the street, consulting to hedge funds institutions. I mean, anyway.
– Anyways, I mean, that’s a great breakdown. Obviously, we’re talking about everything that you guys listened to here with us, this is our own opinions, our bias, it’s not investment advice, Obviously, do your own research. But obviously, as he’s mentioning, Alpha Picks is backed by the Quant Rating system, which removes human bias. So, that’s just something we wanna highlight to you. I’m gonna have Josh drop the link in the chat for everybody. If you wanna check it out, learn a little bit more about it.
And let’s keep this show moving. Next up, let’s get into the segment where last week, we asked you all, if you had a stock that you would like us to research and analyze, and take a look at for you. And William actually sent us an email. We always encourage everybody here to recommend a stock as well. There are a few guidelines, we’ll get to that at the end of the show. But his stock that he recommended that we’ll take a look at, is called ESS Tech Incorporated, ticker (NYSE:GWH). The share price is roughly about $3.50 cents.
So, let’s break it down. What is this company about? Well, ESS Tech Energy… Sorry. ESS Tech is a small cap company based out of Oregon, focused on Energy storage. They design and produce batteries for commercial and utility scale, Energy storage applications worldwide. The company just IPO’d in October of last year, and raised about 250 million for operational expenses. Josh, let’s go ahead and throw up that slide of the Seeking Alpha Quant grades… The rating, sorry. Let’s go back one more. Sorry, this is GWH ESS Tech, forgot that one was in there. There you go. Next slide.
Here’s the rating summary where we have Seeking Alpha authors saying that the stock is a buy right now. Wall Street thinks this is a buy as well. The Quant Rating system thinks is a hold at this time. So, let’s get into it. Next slide, Josh. Just take a look at the Factor Grades real quick. Valuation’s a C, Profitability is an F. And we’ll touch on that in a second. But let’s go to the next slide as well, which is the Capital Structure. I added this in here because I wanted you guys to notice something about this company. Like I said, the IPO’d last year, $250 million in cash. They’re now down in the most recent quarter to about 192 million. Their debt is pretty non existence. That’s okay. Obviously, as I mentioned last week, I think it was as well. Peter Lynch says, “If you have more cash and debt, how are you gonna go bankrupt?”
There’s ways to over leverage, of course. But this company has a good amount of cash that they’re sitting on right now. So, the issue that I have with this company currently, is that not much revenue is even being brought in. It was founded over a decade ago. Sales for the year are estimated to land at $3.57 million. That’s not a lot. So, what’s the big story here though. The company is focused on creating a battery that is different, and is there to compete against the lithium ion batteries. So, they’re trying to remove lithium from the batteries to avoid that entire supply chain issue that lithium is having at this time. The solution they have designed, is claimed by the company to be more cost effective, which only time is really gonna tell on that front.
But they also eliminated the combustion issue of batteries or the flammable issues with batteries. So, their batteries are non-flammable and do not combust, which might be good for the Galaxy phones made by Samsung. Remember the airplane stuff that happened a while ago on that? They claim that their batteries will operate better in a desert environment, which I’m sure, I mean, before we know it, California might be a desert with the heat wave they have going on. So, obviously, I said, lithium is in high demand. But revenue for this company in Q2, was only $686,000, which is a little worrisome. The non-gap operating expenses for Q2, were $21.9 million.
So, they’re burning a significant amount of cash that they raised to operate right now. They expect to end the year with $120 million in cash. So, what are the highlights of this company if you’re considering this company? While they’ve had five upward fiscal year EPS revisions from Wall Street analysts that are covering ESS Tech, they Seeking Alpha Factor Grades are pretty appealing, except for that profitability. Obviously, revenue needs to increase. They need to be able to generate more cash to them reallocate. I mean, I get it, if you’re a growth company, you’re working on it. This is a big energy transformation play. There’s a lot going on here.
Highlights, they have enough cash to cover debt, which I mentioned. And also, on the last earnings call, one thing that peaked out to me, was Colin Rusch from Oppenheimer, was actually on the call. And usually, it’s kinda weird to see big name analysts on covering smaller companies like this. So, what else is going on here? Well, Eric Dresselhuys, I think that’s how you say his last name. He’s the CEO currently. Kept mentioning during the earning call, actually his CFO as well, they’re thinking that they’re gonna be a key player when the Inflation Reduction Act gets passed here.
So, they said that they match all of the requirements that are needed for this. They think that they’re gonna get some of the incentives being thrown out through this Act. They think this is gonna be potentially the next catalyst to move the company forward. Something to watch for, because obviously, as a Midterm Election year, there’s a lot going on. If you’re waiting on that as the catalyst of your company, I’m a little worried in that regard, because that might get dragged on a little bit.
Obviously, we saw “Build Back Better,” get pushed and pushed and pushed. I mean, politics is politics, right? So, be cautious on that front. But also, and I quote from their earnings call, “As we have ramped new vendors, we have seen their delivery times push out due to their own supply challenges. This has already slowed our production schedule for their product, which is these energy warehouses. And while we still see a path to our original plan of shipping 40 to 50 energy warehouses this year, we would likely be near the low end of the range and possibly below it, depending on our ability to resolve these supply chain issues.”
So, this company’s dealing with supply chain issues, that’s the low down. They say, it’s not because of them, they say it’s because they’re vendors. But you broaden out your vendors. The company does not pay a dividend. Short interest on this company is 12.86% of the float. The worries here, is does their battery work? Is it more cost effective than lithium ion batteries? Can they capture purchase orders during this time to generate the revenue that seems to be missing right now? And if they increase their revenue, will management then increase stock-based compensation, diluting the current shareholders to keep their expenses down?
So, what if your debt set on this stock? What should you do? I think at this time, I personally would recommend just setting a Quant Rating alert on Seeking Alpha to see if it flips from a hold to a buy. This is a very, very speculative play. You’re talking about a transformation within the market of, we’re not only revolutionizing batteries, but they are then using these energy warehouses. They have clients in Australia. They have clients in New Zealand. They’re looking at Europe and North America. They’re in Tampa. I think Pennsylvania as well, I read.
They’re starting to create these energy warehouses, but you’re only talking about 8 to 10 hours of Energy to help cities maybe during peak hours. So, this company has a long way to go. They’re competing against the likes of Tesla, which is also doing something similar, so keep that in mind. And we know that Tesla has a lot of good contracts with suppliers around the world for these battery supplies, for how they are making their batteries. Me, personally, it’s a very, very speculative play. So, if you’re playing speculation on it, make it a very, very small percentage of your portfolio. I mean, we’re talking about, you have to believe in this for maybe a decade or longer. That’s the rundown on ESS Tech. So, let’s get into the charts. Mike, why don’t you walk us through what you’re seeing on ESS Tech chart here?
– Look, I will disclose this by saying, or give the disclaimer by saying, the stock and the company are oftentimes, you’ll know. Are not the same thing. They’re not the same thing. So, how the stock looks, I am not crapping on the vision of the company or the bull. I don’t know anything about that, I didn’t do enough research. The chart is a dumpster fire. There’s no other way to put it, right? It was a previous specs, right? Or it was a specs, it came out, it sold off pretty significantly. The old time lowest $2.59 cents. It’s trading around 3.60 now, so whatever it is. The good news, is your downside is $3.60 cents.
All it can do is go to zero, if you’re not using leverage with it. If you’re using leverage, if somebody gave you margin on a $3.60 cents stock, then you can lose more than your investment. But if you’re just using cash, your downside is zero. If you believe in the story, if there’s a reason that you like it, your risk is defined. Back out from that, assume it’s going to zero, and then size appropriately, that’s what I would do. You can do whatever you want. You could burn your money for fuel if you want, I don’t care. It’s up to you, I’m not giving personal advice here. But what I would do, if I love the story and think this is gonna be it, I would back it out and assume it’s going to zero.
The chart does not give me any reason to be bullish here. That doesn’t mean that the company doesn’t have great things ahead of it, or great vision. But a lot of these specs, were built on the story. And this has a good story, right? Okay, that’s a great story. Hey, they’re gonna solve the energy crisis. Okay, great. But let’s see if they actually could go through, like you said, the burn rate is pretty high. So yeah, cash on hand, relative to debt isn’t bad. But if they’re continuing to burn, like they’re burning every quarter, that cash on hand is gonna get, sliced away.
– [Daniel] It gives them ’em about two years of runway, and then they have to raise more capital or more cash?
– [Mike] That who’s gonna give them more? Maybe we’ll see spec 3.0, ’cause we already saw spec 2.0. And maybe people will be like, “Hey, look at this. It’s an old spec.” I don’t know. Look, Wall Street has a short memory. A lot of these places, they raised fresh money. I forget his name, Adam Newman, I just remembered his name.
– We, were guy. Yeah.
– He raised more money. So, if he could raise more money, whatever. But again, you made a valid point. You can’t rely on that as your catalyst, and isn’t your catalyst that they’re gonna change the world. And great advice, and the only advice you technically gave, which is watch for the Quant Rating. Put a Quant Rating alert on this, and see if it changes, and then start to consider it. That’s not a buy in and of itself, but it’s something that, okay, now at least I got the Quant at my back. Now, I could start considering it-
– [Daniel] So, it takes my human bias out of the equation?
– Absolutely.
– Which is what we’re talking about when it comes to the Quant. All right. Thank you, Mike. We’re gonna go ahead and keep this going. Obviously, thank you, William, for sending in that stock. Great to cover that for you. We’ll ask everybody else here at the end of the episode, if you have any other stocks, you want us to take a look at for you, break down, Seeking Alpha, Quant Rating system, the earning calls, all of that stuff, we’ll get to that here in a little bit. But go ahead and chart off from you, Josh, that’s fine. Let’s get into Apple. Obviously, we’re talking about the event is here at the top of the hour.
We’re gonna move through this pretty quickly, because we still wanna get to Scott Kaufman from High Dividend Opportunities. And we’ll get his take on Apple as a dividend company as well. Feel free to jump in the chat, ask us any questions along the way, of you have anything, but obviously, Apple. We know Apple, I don’t think anybody needs a full breakdown of Apple. They’ve got the products, they got the software, they got the app, so they got all these things going on. So, let’s get into the ratings from the Seeking Alpha, Quant, Wall Street, Seeking Alpha authors. Josh, let’s go ahead and get into that slide real quick.
So, you have a hold by the Seeking Alpha authors at this time Wall Street analysts are, of course, a buy. Quant Rating system is a hold, which people have always been asking about since January. Been a hold pretty much, I think the entire time actually. Let’s look at the Factor Grades real quick. On the Factor Grade, front valuation is an F. Growth is a D plus. Profitability, of course, A plus. Momentum is an A minus, and Revisions are C.
And moving on, I wanna get to this next slide. So, I was going through and I was like, “What’s something that’s been the big catalyst moments here lately for Apple?” Obviously, we saw the quick run up in the stock price. We’re seeing the poll back. I think it was around 155 today, 153, 157. It’s kind of in this range before the event, as usual as it is. So, I pulled this article from our own, Yoel Minkoff who was covering this. And the highlight here for me, is this is talking about how iPhone has been gaining market share. The iPhone has even been growing at a 5% clip over the past few years, up from 35% in 2019, 40% in 2020, 45% in 2021. Numbers are based on the installed base, or the amount of smartphones currently in use.
Further down, you’ll see Apple even refers to its installed base as the first lever of its service business, and the engine for our company. Which makes total sense to me. You need the iPhone, which is something that you have on your pocket, or have on your self all the time. You’re getting on the app store, you’re downloading the apps, they’re running. Their ad revenues going through the roof on the app store. You can read news, you can check your stocks. You can do all that from your iPhone, no matter where you are. And that mean, you get into the iPhone, you usually end up getting the Air Pods, you usually end up getting the Apple watch. Then you probably get the MacBook pro, or the Mac, or whatever else you want, because they have airdrop compatibility. They sync so beautifully together with the Bluetooth and everything… I mean, they just built it perfectly. We talk about the ecosystem, it’s all there.
Not to mention that this company and the stock buybacks that they’re doing right now. So, here’s some stats for you. Since 2012, Apple has returned $686 billion back to shareholders through buybacks and dividends. And in Q3 alone, I think this was, yeah, Apple repurchased 21.7 billion worth of shares on the open market. So, if there’s 62 trading days, I believe this is from last Q3. Meaning, Apple purchased the equivalent of $350 million worth of Apple shares daily. And in 2022, Apple has already returned $82 billion back to shareholders through buybacks and dividends. And that they’re gonna plan more buybacks. Especially, if the government’s gonna do the buyback tax, they’re probably gonna front load those.
Here in Q4, we’ll have to see what happens with that. But the company’s a cash generating machine, right? How much can you really expect Apple’s stock price to fall back before the company just starts buying it? Or Warren Buffett starts buying it again? So, let’s go, Apple pays a dividend. It’s worth saying. Josh, let’s go ahead and go to that slide real quick. Show everybody the dividend grades for Apple.
One more slide, I think. There we go. I think those got turned around. So, dividend… Go back. Dividend Grades. There you go. Dividend safety is an A. Dividend growth is an A plus. Dividend yield is a D, and dividend consistency is a B. You’ll see down there, the annual payout for is 92 cents, what we’re expecting. Payout ratio is 14.69%. I mean, that’s extremely favorable. Dividend growth for eight years straight, it is a complete powerhouse.
And the last thing I wanna point out about Apple before we get to Mike real quick to see the charts, is Apple, they talk about how that’s so big in the ETF. So, go to the previous slide, Josh. So, we’re talking about ETF holdings, right? So, I pulled this just this morning from Seeking Alpha. This is for the SPY ETF. Apple is 7.24% of that entire ETF, obviously, a huge holding. Two slides forward, please, Josh. There we go. This is for the queues, 13.54%. Now, Mike, I wanted to ask you, do you think that either of these is the biggest ETF waiting wise that has Apple at the top? Does that make sense?
– [Mike] Yeah, the largest offshore. I mean, the spy and the cue is absolutely. I’m sure there’s some tech ETFs that have more than this percentage of Apple when they’re holdings. But no, they’re not as big as the starter of cues-
– [Daniel] Not as big, but when it comes to waiting, I mean, you said it right there. Let’s go to the next slide. So, what is this one right here? Any guesses? Apple at almost 25% of the ETF waiting.
– [Mike] The XL? The one that the XL is? What’s the technology, XLK?
– [Daniel] This is actually the Fidelity MSCI tech ETF. You’re talking about 25%.
– [Mike] Wow.
– [Daniel] Of this ETF, is held in Apple. Obviously, something to keep an eye on. I mean, that’s tradable, potentially in the future depending on what Apple does from here, right? Just wanted to highlight that because I think that’s one that most people forget about. Now, Mike, I wanted to ask you real quick. Let’s get this condensed. We’re running a little bit over, we wanna get to Scott. Show us what’s going on with the chart.
– [Mike] So, right here, I just wanted to show real quick. We put in, what’s known as a Second Lower High. So, off the June’s Apple had a monster move. One of the best moves. I mean, in the big name stocks. You can look at other stocks, it said these small caps that went up, whatever. But I mean, for these big, large cap stocks, and Apple’s basically the largest of the large caps, but it had a monster move. But what it did, is it formed what’s known as a Second Lower High. So, this was the high early in the year, late in 2021, whatever it was, then it put in a lower high in March.
And then it put in, what’s known as a Second Lower High. It’s pulled off pretty decently since then, hasn’t entered, “New Bear Market,” which is what people call it after a 20% down. But we’re headed into the halfway back level, which is this 150, 260. It’s a 50% retracement of the low of June up to this recent high. And one of the things you have to look at when you talk about Apple.
And this is a great segue when once we bring Scott in to talk about this, with dividends is, Apple falls into that category of too big to succeed. So, you’ve heard too big to fail, right? So, what’s the opposite of that? Too big to succeed. It’s such a large cap. And you’re right, it’s probably. Keyword; Probably, not gonna get that much pullback before they start eating their own, eating their young, which is buying back their own shares, or something like Berkshire’s gonna say, “Whoa, this is on sale. Let’s go and buy some more.” But in the same thing, it’s not a huge dividend payer. So, it doesn’t attract the income crowd per se. And its growth potential might be limited. That’s why it got that rating on the Quant Ratings.
So, I’m not saying get out of Apple now. It’s seeing such a huge move. What else is it? What’s it going to do next? And we don’t have time to talk about this now, we can pick it up at another time. But what is the next industry that Apple is going into? That’s why I think they are gonna eventually come out with a car. But again, not for this time, not for this talk, right? So, Amazon’s going into healthcare. What is Apple? Google (GOOG) (GOOGL) has gone into education with the certifications and all that stuff. What’s Apple gonna go into?
I mean, there aren’t that many industries left. There’s government, it’s not gonna go into government. Although, I’m sure the campus in wherever they are, it’s like its government. So, that’s the thing. And I’m not saying to sell Apple, I’m not saying Apple’s not a great investment here. I just have concerns, is how much further is it gonna go? Is it gonna be a steady performer? Is it something that you could possibly use option strategies around, like selling puts or covered call trades, or stuff like that? Yeah, maybe, but that’s not the scope of this call as you know.
– Yeah. Josh, let’s go ahead and go back to that weekly chart, that first one that I had pulled for everybody. Let me see. Still there, Josh? Hopefully. There we go. All right, let’s go to the next slide. So, what I did, is actually, I started with pulling the weekly chart, zoom out. When in doubt, zoom out. We always like to say that. So, I was looking at this and I was like, “Okay, well we’ve got the trendlines going there.” Obviously, we’re probably gonna be in a trading range for a little bit, from what we can tell here. But I wanted to zoom in. Let’s go into the next slide, Josh.
And then, I was like, “Okay, we’ve got some moving averages. I know there’s a gap above the market.” Obviously. I mean, that candle stick right there at the top tells you the bearish story, obviously. I mean, prices tried to push up, hit that trendline, came right back down on the week. Pretty much a flat week, definitely, a bearish signal. Turned it back around, but we obviously, see there at 152, that’s the 20 simple moving average for Apple stock price on the weekly. So, there’s probably some support there. Obviously, the 61.8 for Fibonacci down there at 147. Next slide please, Josh. So, let’s look at the daily. Obviously, this is a zoomed in. Daily chart gap above the market.
Actually, let’s go ahead and move to the next one. I think I zoomed in as well. Yes, there we go. Obviously, you’re seeing that there’s a moving average right there at 152. I think that’s 14. And again, just to point out the Fibonacci at 147. So, there’s a little bit of support here, couple levels I would be watching. But obviously, the 20-day simple moving average is turning over pretty hard at this point. Kind of makes me think that that gap above the market might be a gap and go, unless something revolutionary happens with the overall global market conditions as well. ‘Cause Apple, we talk about it, how it supports the indices and everything, but they can’t support everything. Just that would be unbearable for them. I mean, you gotta have a broad market turnaround, I think for this company to really take to the upside. Now, showed you invested in it now. I mean, that just depends. What’s your time horizon? I think that’s the case for this. If you’re looking for retirement dividend plays, you can find stuff in REITs, better income opportunities, I think at this time.
But this is a good part to bring Scott into the conversation ’cause Scott Kaufman, he’s a part of HDO, High Dividend Opportunities, marketplace service on Seeking Alpha. We get to ask him today, Scott, thanks for joining us, man.
– Thanks for having me.
– Everybody here, literally we got people in the chat, everybody as well. Just wanna remind you, if Scott’s talking about anything right now, about the dividend on Apple, or anything else about dividends, feel free to ask a question. If you wanna know something specific about dividends, this is the guy to ask. So, jump in the chat, feel free to ask those questions, and we’ll get it to Scott. Scott, let’s start off. First off, introduce yourself, the service, but we need to get your take. What’s going on with Apple’s dividend. What do you think?
– Okay. Sure. Thank you for having me. My name is Scott Kaufman. I’m one of the managing partners of High Dividend Opportunities. If you’re on Seeking Alpha, there’s a good chance you’ve probably seen our articles, or read more the founders face on our articles. We publish almost daily. We are the largest by size, but also one of the longest running Seeking Alpha marketplaces. So, we have just over 6,000 members now, community of everyone. We’ve got people who have been postal workers their entire life to fund managers and CEOs of companies in there all interacting together, creates quite a environment where we can all just answer each other’s questions, learn and grow. It’s really great.
And we focus strictly on dividend investing and income investing. So, we’re not looking really to do dividend growth as much. We don’t issue it. We enjoy dividend raise as much as anybody else, but that’s not our primary focus.
So, looking at Apple, for example, the yield is so small that the yield really isn’t a big part of the total return. If you’re buying Apple, likely you’re buying it for the capital gains growth. They’re pumping more money into buying back shares and helping their share price rise than they are about paying out dividends. They may over time, if they stall out and don’t have any more ideas of what to invest in, they may start raising their dividend more aggressively. But in all honesty, they’re gonna probably look more like AutoZone (AZO).
I don’t know if you guys have ever looked at AutoZone. They’re like the hallmark for share buybacks, and that’s all they’ve done to raise their share prices. Whenever they have extra cash flow, they are pounding out share buybacks. They trade in almost the 3000 price range now. And all they do, is just keep buying back their shares. And that’s great if you’re looking for a tax advantaged way to have some money and not get taxed on it, as long as the market supports you. And Apple can’t carry the market themselves, being a big aspect in those indexes.
The downside is, is that somebody who goes and sells to spy, or sells the cues out of their account, they’re hurting Apple’s share price. Because every share they sell, erode some of Apple’s value on the side. Apple has to buy shares back, or finds someone to invest ’em directly for. So, it’s a blessing and a curse to be part of the index.
– Definitely, and when we talk about Apple, obviously, we saw that it’s been eight years of dividend growth. Do you think this might be a company that in the future they’re known, I think right now, so well for buying back their stock? Why not pretty much reduce the dividend to almost nothing or not eliminate it and just continue to be that play, if we’re looking at this as a capital appreciation stock? That might happen?
– There’s a chance. Other companies though, you can become a dividend or risk crack by raising your dividend and minute amount for 25 years. So, just because they don’t have a high yield, doesn’t mean they won’t continue to try and get into that good graces with people. ‘Cause down the road, somebody might look at that and go, “Hey, they have 26 years of dividend growth. I’m gonna buy them strictly because they have 26 years of dividend growth.” And while that that’s some people’s criteria, that’s really not the best criteria to use. And so, I doubt they’ll cut their dividend, ’cause they’ll make people upset. But at the same time, I don’t think that they’re gonna be a dividend first mindseted management ever.
– Gotcha. I have a question over here from Beth that says, “What yield percentage do you find attractive for company?” I guess it’s the numbers. How high of a yield would start to worry you?
– So, we target our model portfolio, targets an 8 to 9% yield range. We have some stocks that are double digits, but we also vet everything extremely carefully. So, we’re not just buying it because it’s high yield. Then we try to taper out on the low 6% side. We do have some stocks that we invest in that are in the 4 or 5% range, just because the quality of the company, and those typically are dividend growth oriented. But our target is always the 8 to 9%. I mean, that’s around what our model portfolio is yielding right now when everything was flying high between this dip and the COVID drop. Our target dropped down towards 7% because we’re not chasing yield. If we’re gonna hold onto value, we’re gonna buy what’s valuable and what’s worthwhile. So, what we aim for those yields and we’ll cut things off, we don’t buy them strictly because of the yield either.
– Gotcha, we have a question here from Sammy who says, “I’m putting Realty Income Corporation (O) under your radar. What is your comment?” Obviously, Realty is REITs. Are you guys favoring REITs or any of those yields as well? Do you guys do that?
– So, we do, we have a number of REITs in our portfolio. Actually we do have Realty Income as part of our portfolio, although it’s a lower yield. It’s in a section of our portfolio that we bought it previously, we bought it in the 2020 dip, and we’ve just been holding it ever since. But we see at this point, the yield being low enough in the growth that the yield’s not gonna go away. Its income is gonna be reliable, but it’s gonna end up for a lot of people who bought it before.
Again, mainly being more of a capital gains type of an investment, because their yield is on the lower side. I think it’s in the 4% range last time I checked. And so, it is something that it’ll pay monthly. It is good for yield to rely on income. And if you don’t need higher yields to have your retirement be funded. If you’re someone who’s got a larger account and don’t need higher yields, then something like Realty Income is gonna be excellent to hold. Because it’s just gonna be reliable, and it’s gonna pay you every month. But again, it is one of those where even at the 4.3%, which is what it’s trading at right now, according to SeekingAlpha.com, it’s still a little low for my taste.
– Gotcha. Mike, do you have anything you wanna ask?
– I do. So, Scott, thank you for joining us today. I’m a huge fan of High Dividend Opportunities, and what you do over there. So, let’s talk about mistakes people make with looking for high dividend stocks. I think this could be a valuable lesson from somebody with your well groomed experience here. So, all right, inflation sucks, it’s coming down, but it’s still in the eight percentile, the eights. So, why don’t I just go out and just look for the stocks with the highest yield and make up for it that way? Talk about it, if you don’t mind. And if you could just off the top of your head, ’cause I know we didn’t prepare you for this. But I know you’ll be able to give us a better answer than I would. Is why not just go after the highest yield? What are the red flags that you look for in companies that keep them off your model portfolio… Keep them out of me, pardon me, your model portfolios?
– Yeah. Good question. So, whatever a company’s paying a dividend, all the dividend yield is the determination between what the dividend is and the price of the company. So, some companies have accidental high yields where sentiment has changed. The company’s running fine, the company’s great, the payout is covered, but sentiment has changed. And that short term sell off, there’s fear.
Kind of like EPR recently had a sell off because people are concerned about one of their clients who is very open that, “Hey, we’re not trying to get rid of our rent. We just need to restructure our debt.” And their properties are essential for that business to operate. It’s gonna have a short term accidental high yield, which will have an overhang ’cause of sentiment. Whereas, there’s other companies or funds that artificially have high yields because they pay out way more than they can ever afford. Especially, that’s more prevalent in high yield funds where they’re paying out more than they can afford.
Their nav is eroding, and all that they’re doing, is supporting it by either selling more shares, or the fund is slowly dwindling down. And so, whenever we look at high yield, anything, we look at cash flow, money and money out. And if they can’t cover their yield, they can’t cover their dividend, then that’s a huge red flag.
The other red flag that’ll come up a lot of times, is management trying to oversell. I think all of us can remember High Crush? They were a sand pro fracking sand provider. And they spiked, they raised their dividend to a huge amount and attracted a ton of investor attention simply ’cause they paid a high dividend for a couple of quarters, and they talked it up every earnings call about how they were gonna do that. All the while, they couldn’t afford it. And then, 3/4 later, the company basically got bought out for the smallest amount ever, and the dividend was cut to zero. And it was really just a way to almost float them until they could get their private buyout done.
And so, a big thing is the ability to pay. If you can’t pay it, you don’t wanna buy something that can’t be paid. And so, I don’t like cash flow negative companies. I don’t like companies that the dividend is unsupported or unsustainable, simply because if you can’t pay it now and you have no clear path to pay it later, then all you’re getting is you’re getting, basically your money back before the company goes under.
– Yeah, we have a question come in from T Marks over here in the zoom chat. It says, “Do you like CTRE, care trust REITs? Is that a company you follow?
– Not a company that I follow directly. Let me check.
– Let’s go ahead. I’m gonna pull it up here for everybody to take a look at it here on Seeking Alpha. Share price is around $21. The Seeking Alpha Authors have a hold on the stock. Wall Street it’s buy. Quant Rating is a strong buy. Factor. Grades look pretty favorable. Valuation B minus, gross C, profitability B minus, Momentum A plus, and Revision’s a B plus. Quant actually has it ranked in the industry at number 1 out of the 14 peers that is up against. Dividend safety is a D plus. Dividend growth is a C. Dividend yield is a B, And consistency is an A minus. So, any thoughts?
– [Scott] So, just offhand looking at it very quickly. with REITs, you wanna look at their FFO. Their Funds From Operation that really straight out.
– [Daniel] It’s at the top. They got 1.51 for the forward.
– [Scott] And it strips out all of the non cashflow items. And so, they’re paying a dividend that is less than their FFO, which is a really positive thing to see. You wanna see that they can cover that. And you don’t necessarily wanna use gap earnings. We get a lot of questions from people who are new to REITs, and they’re looking at gap earnings, and how gap earnings isn’t covering the dividend. And they’re like, this gap payout ratio is terrible. And we’ll let them know, gap earnings includes depreciation of assets.
And when you’re REITs, you’ve got large buildings, those things are technically gap depreciating every single year, and that’s not affecting cash flow. Here, we’re seeing an FFO that is covering the dividend more so than the dividend, which is really good. And so, it’s something like this would be something that would potentially warrant further investigation. Again, the yield is a little bit below the yield range that we look for. But it is something that if that FFO is covering it, and it’s sustainable, then that’s gonna be something that would definitely be attractive.
– That’s amazing. Scott, I want to ask you before we let you get outta here. Well, two questions actually. First, just maybe briefly, do you think that there’s any stocks right now that are under the radar when it comes to dividends that people should be analyzing if they want to enter a new dividend in their portfolio, or maybe they’re heavy on a dividend portfolio?
– Sure, so one idea that we’ve mentioned HBO members a couple of times, is Diversified Royalty Corp. (OTCPK:BEVFF). They’re a royalty corporation which is a Canadian structure. Basically, if you think about it, what they do, is they own the franchise rights to a bunch of different companies. Their ticker’s BEVFF, which is an OTC ticker, In Canada their ticker’s DIV. They own the royalty rights to a bunch of different brands. And so, they make their money just right off the top. For example, they operate in what’s called like a Jiffy lube, their oil change location in Canada, and they own the rights to it. So, if you go get your oil changed, a set percentage of that top line goes directly to them. And so, it’s a really straightforward and simple structure. They did get hit pretty hard during COVID, simply because the economy shut down and nobody’s shopping at their locations, like most retail oriented items. On the other side, though, now that inflation is picking up and prices are rising, their revenue just climbs from there. And so, that is one thing that we like, is that right off the top, they’re gonna be almost like an inflation play. If inflation stays persistent, prices rise further, their top line and bottom line revenue’s just gonna climb.
– That’s amazing. Thanks for sharing this. And before we let you get outta here, the people wanna know we end every episode like this. Obviously, everybody shows up. We have Anna, we got Christian, Dave, we got a lot of the people coming back. Jorge’s here again today this week. He’s usually in the chat. Rollin, Roger, Nick, everybody wants to know, Scott. We need a story of the best trade you’ve ever had, or one of the worst trades that helped you learn not to make a mistake again. What do you got for us?
– Okay, so I can give you one, either one real quick. During 2020, Emirates were being destroyed, left, right, and center with the drop of prices in mortgage MBS prices dropped like crazy. We actually authored an article for HGO members about which Emirates were dangerous, and which ones were gonna survive just fine. And so, in that article, we talked about what was NHS there? They’ve changed now named to Acres. And we talked about their preferred, and we’re like, Hey, this preferred is gonna be great. It’s deferred on their dividend right now, but it’s gonna climb back. At that point, it was about $3 for the preferred share versus this $25 par. And so, I bought a whole bunch of that after we told HBO members about it.
We have policy, we tell ’em first, and then once they know we can buy it as well. And so, once we shared that out, I bought a whole bunch of it. And by the end of 2020, its share prices back over $27 per share. And they paid out their dividends, and so I had a 50% yield on cost. And that was one of the best short term trades. I sold it after a year, and locked in the long term capital gains there. And I’ve actually reentered it again, once it went back under par. So, I’m currently long it now. And then-
– There you hear first, folks.
– And then the downside, I would say is High Crush. I did buy a small speculative position in High Crush, along with everybody else. I was one of the people who bought it. Unfortunately, near the top with a small speculative position. And I walked away with a good loss to claim on my taxes against my dividend income with that one as well. Simply because at that point, I was still not doing. I bought a speculative so I can monitor it on the side and not keep a close eye on it. And next thing I know, it went, it crashed and burned. And I was like, “Okay, there goes that speculative position.” And sometimes that happens, I’ll buy a few shares of something just to watch it. And sometimes those shares that I’d watch, I will watch them disappear.
– Yeah, we learned from it. Scott, thanks so much for taking the time for us today. We’ve gotta wrapped things up here. We told everybody we were gonna let them get to the Apple event. Obviously, everybody’s got eyes on it. So, Scott, thanks for joining us. You have a great rest of the day, all right?
– Thank you for having me.
– All right, and just a reminder, Josh, go ahead and throw up that last slide for me. If you guys wanna pitch us a stock idea for us to cover for next week’s episode. If you have questions for us, you can of course reach us all across the web. We’ve got me on LinkedIn. Mike Saul there’s his email address right there. Stock ideas, you can send ’em to stockmarketlive@seekingalpha.com. And, of course, you can talk to Scott Kaufman over on High Dividend Opportunities on Seeking Alpha. All opinions shared today are our opinions. We’re just here showing you what we’re looking at. Mike, anything you wanna say to the people before we hop off?
– No, that’s it. Thank you so much for attending today. We wanna get you off to that Apple event, if that’s your particular brand of vodka. And have fun. See you later, guys.
– Yep, absolutely. Josh, get us on outta here. Let’s go to that Apple event.
