LQDA

Outperforming without a clear catalyst yet

• LQDA +2.32% on the last session vs SPY +0.74%: +1.6 pts of stock-specific move.
• Aftermath, crossed below 200-day avg (Sep 30): After its 10 crosses below the 200-day average in the past 5 years, LQDA typically gained 25.0% over the next month (median) and was higher 70% of the time; half the outcomes fell between -0.8% and +46.5%. An ordinary month: +4.8%. Among S&P 500 stocks after crosses below the 200-day average, that ranks #157 of 496.
• 0 Reddit mentions in the past 24 hours, 69% positive over the week.
• 1 insider or congressional trade in the past 30 days, including 1 insider sale not under a 10b5-1 plan.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.