It’s been a wild two months of trading kicking off 2021. There’s no reason to expect things to be any more tame in March. I think a few stocks will lead the market in the coming weeks, and I’m not afraid to name names…
LivePerson (NASDAQ:LPSN), Grayscale Bitcoin Trust (OTC:GBTC), and Bumble (NASDAQ:BMBL) have little in common. The one trait they share is that they have the right ingredients to deliver market-besting returns this month. Let’s take a closer look.
There comes a time when a customer needs help, and LivePerson is there with high-tech online chat solutions that are typically superior to in-house options. LivePerson went through a rough patch a few years ago when it was upgrading its platform, but it’s humming along nicely these days.
LivePerson put out better-than-expected financial results last week, sending the shares sharply higher on Friday. We’re now four years into an impressive streak of accelerating growth.
2016: (6.8% decline)
Results are a bit more lumpy on the bottom line, but most of its metrics are showing improvement. LivePerson’s platform is sticky, and customers tend to stick around and pay more. Average revenue over the trailing 12 months for enterprise mid-market accounts, the sweet spot of LivePerson’s platform, is up 35% per client over the past year.
Momentum keeps building. It sees revenue climbing 32% to 33% in the current quarter, building on its 29% year-over-year top-line surge in the fourth quarter.
2. Grayscale Bitcoin Trust
These are interesting times for investors in Bitcoin (CRYPTO:BTC), and a popular way to have some direct exposure in the leading cryptocurrency without buying actual tokens has never been as attractive as it is right now. Grayscale Bitcoin Trust is a trust investing solely in Bitcoin tokens, and it’s no small fry, with $30.7 billion in assets under management.
Grayscale Bitcoin Trust has historically traded at a lofty premium to its cold-stored assets. When it hit the market four years ago, it was initially trading for more than double its actual crypto exposure. Times have changed. The premium has narrowed to range between 6% and 38% over the past two years.
Something unusual happened to Grayscale Bitcoin Trust as the stock market and Bitcoin took a breather last week. Grayscale was trading at an 8% premium to its net asset value a week ago. By Friday’s market close, it was at a 1% discount.
There’s no free lunch, and for Grayscale Bitcoin Trust, a big drag is its…
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