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Summary below:
- $NVDA vs $AMD spread trade (Long $NVDA short AMD)
Nvidia is dominating the AI space while AMD is lagging, outside of AI their business is highly correlated.
- $SKX
Skechers another shoe brand to keep an eye on. It looks like Q2 earnings may be more of a positive surprise than Q1 coming out in 6 days. I would enter post-earnings.
- $RACE
Ferrari has been a silent social winner in the markets recently. This is a difficult niche to track considering high-networth clientele of ferrari is equivalent to the car worlds version of rolex (with wait-lists and relationships). This is the social-arb dream... That being said, I do think that electrifying / commoditization of driving will take over leading to a far lower demand for performance vehicles. Electric cars have far less diversity in feel and self-driving takes this further. But this is not an immediate threat yet.
- $ONON
On running growth is strong, but when you look at it compared to $DECK hoka, it becomes apparent why price hasn't rallied. On running recently launched a shoe subscription product, which has had negative reception by customers. ($30/mo for shoe replacements every 6 months).
- $CROX
Although jibbitz and general crocs trends remain up, other products such as fur crocs are flat-negative YOY leaving me with lower conviction on the trade. Its something to keep an eye on for collaborations / potential social trends on tiktok or instagram.
