Few stocks have been hit as hard as Tableau Software (DATA), a company that does big data analytics and had been a real darling of the momentum crowd. Here's a stock that launched itself from $60 a share last November to $100 a share a few months ago before the group unraveled. It has a hideous chart and it's been selling off harder than just about every stock in its cohort even as, like so many of its friends, it is only down 15% for the year. The round-trip has been staggering.
That's why all eyes are on it right now and when it reported earnings after the bell it jumped up a tad -- not the pattern that the bulls had wanted to see -- and then advanced even harder as the night went on because it reported 86% year-over-year revenue growth. I have seen growth as high as 70% from the stocks in the group, but this one takes the cake.
Now will it hold?
We don't know, as the analysts have gotten very fickle about the group. But suffice it to say that after a couple of days' rest, the momentum group looks to ignite if the analysts are at all compliant.
Yep, this is the battleground and we still don't know how it will be resolved. But the post-earnings after-hours move of a small bump and then a bigger one is new. We had the instant big bump and then the sickening slide the next day. We had the decline right after and then the reversal up the next morning. But we have not seen this pattern. This could be telling for the rest of the group.