Numbers
1,233,173: Shares of Trimble ($TRMB) purchased in the past five trading days by the ARK Innovation ETF ($ARKK). As noted in last week’s Numbers & Narratives update, Trimble is the largest holding in the ARK Space Exploration and Innovation Fund ($ARKX). By comparison, the ARKX fund owns 4,624 shares, totalling just over $383,000.
#18 and #28: Deere ($DE) rankings in the April 5 Investor’s Business Daily IBD Big Cap 20 and IBD 50 rankings, respectively. For the second week in a row, IBD’s technical analysis noted a “new 3 weeks tight” pattern forming, but cautioned shares “already (had) a big run.”
#45: Scotts Miracle-Gro ($SMG) rankings in the April 5 Investor’s Business Daily IBD 50 weekly computer-generated list. Scotts was given a buy point of $250.10 two weeks ago, contingent upon forming “right side of cup base,” with the buy point shifting to $238.91 last week. Shares closed at $249.79 on Tuesday (4/6/21), within the IBD CAN SLIM 5% buy range rule. Subscribe to IBD here.
Stocktwits momentum: Among agriculture stocks with more than 300 followers on Stocktwits, the 4 largest percentage increase in followers for the week of March 29, 2021 to April 5, 2021 were:
Trimble ($TRMB): +34.4%
Arcadia Biosciences ($RKDA): +5.3%
AppHarvest ($APPH): +2.8%
GreenGro Technologies ($GRNH): +2.0%
Narratives
ARK, the retail investors sing: Whether you believe that fintwit apps like Stocktwits frontrun mainstream media – or if you believe the converse – both theories can point to Trimble as an example this week. Of note:
- Trimble saw a 34% increase in followers on Stocktwits last week (above.)
- In a SeekingAlpha piece posted Saturday (4/3/21) Keybanc Capital Markets’ analyst Jason Celino said Trimble will likely benefit from President Biden’s infrastructure plan.
- CNBC Pro subscribers received a piece Monday afternoon (before market close) regarding ARK’s investment in “under the radar stock” Trimble. TRMB shares closed +3.3% Monday.
- SeekingAlpha featured an analysis from Michael Fitzsimmons Tuesday night (4/6/21), highlighting the long-term bull case but rating the stock a “Hold” due to its recent run. TRMB shares are up 14.24% in the past month.
Expect this feedback loop of retail interest, and mainstream financial coverage, to continue as ARK ETFs add TRMB and reporters seek fresh angles on the company’s industrial and agriculture applications.
PSAs for PHAs: Yield10’s steady drumbeat of positive coverage continued this week with detailed coverage from Farm Journal, a leading farmer-focused publication. In “Plastic Farming Around Bend for US Agriculture”, reporter Chris Bennett summarizes YTEN CEO Oliver Peoples long history with PHAs (polyhydroxyalkanoates.) Perhaps most importantly, Peoples’ pitch to farmers shows the economic incentive to adopt these crops into their agronomic mix. $YTEN shares are up 127% in 2021, and up 244% over the past 12 months.
Ag Stock Investor, LLC is not a registered investment advisor. All content presented in Ag Stock Investor online, e-mail and print publications is intended for informational purposes only, and should not be construed as financial, tax or legal advice. Read the full Ag Stock Investor disclaimer here.
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