Stocks moving ahead of the close: Airbnb, Crocs, Lucid, Affirm
Yahoo Finance Live's Seana Smith details some of the top trending stocks ahead of Wednesday's closing bell.
SEANA SMITH: We are minutes away from the closing bell. Let's take a look at some of the big movers of the day.
Airbnb, it's a top trending ticker here on Yahoo Finance. Headed into the close, we're looking at gains of just about 6% today. Now, there is no specific news on Airbnb itself, but the travel sector has been in focus after Oppenheimer upgraded Expedia. A 6% gain today.
And taking a look at what we have seen from the stock over the last couple of trading days, a five-day chart showing us gains of just about 6%. Over the past year, though, certainly been a different picture with shares off about 43%.
Another big mover today is Crocs. Really got gains also there of about 6%. Wall Street weighing in on the company after the retailer raised its fourth-quarter guidance yesterday. A couple of firms here are now a little bit more bullish on the outlook here when it comes for Crocs, raising their price target.
We didn't initially see the reaction in the stock yesterday, Dave, when we got the updated guidance from Crocs. But a couple of analysts weighing in this afternoon, and that's why we're looking at gains of about 6%.
DAVE BRIGGS: In fact, it was quite odd yesterday to see the stock slump a little bit after the guidance and record revenues for '22, $3 and 1/2 billion.
The big win for them has been this HEYDUDE shoes we talked a little bit about on the show recently. Wall Street investors really did not like the acquisition but now accounts for about a third of Crocs sales. Has grown some 70% since being acquired.
SEANA SMITH: Yeah, it's pretty amazing.
All right, let's take a look at a group of stocks here that are moving to the upside here. There's not so much individual stories but an overall theme that we're noticing in today's action. Lucid Motors, Affirm, the meme stocks that we talked about earlier on in the hour, even Amazon all up today on investors appear to be hopeful ahead of tomorrow's CPI report. All those names have been hit hard over the past year amid concerns of rising inflation, also an aggressive Fed.
We're looking at Lucid Motors up about 10% today. Over the past year, though, an extremely different story, off just about 82%. The same with Affirm. On a daily basis, we're up just about 12 and 1/2%. The past year, we're looking at losses of about 86%.
And once again, taking a look at a number of the meme names trading to the upside this afternoon. Bed Bath & Beyond clearly the outperformer of the group, but we're seeing a handful of these stocks that we have tracked so closely holding on to those gains. GameStop up another 7% today.
Again, it's hard to really determine the big driver here, especially when it comes to memes. A lot of the investor story around these individual names appears to be skeptical at best. And you're looking at gains for AMC, up just about 21%.