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Today’s Top Shorts As Tech Stocks Tank Amid Market Euphoria Concerns

Judging by the way the market sharply dropped on the second day of May, there is genuine concern that we may have reached a market top. There is concern that there is market euphoria at the moment. Bank of America
BAC
echoed this statement. Deutsche Bank has also been warning about a 6-10% correction by summertime. Although some stocks like CVS and US Steel
X
had nice gains on Tuesday thanks to rosier guidance and analyst upgrades, it was overall a dreary day. Tech stocks led the declines, as the Dow Jones fell 150 points, the S&P 500 dropped 0.8%, and Nasdaq
NDAQ
tanked by more than 1.4%. FAANG stocks also plummeted, with Apple
AAPL
falling over 2%. If you’re looking for a way to play this market, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays. 

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Boxlight Corp (BOXL)

Boxlight Corp is our first Top Short today. Boxlight Corp is an education technology solutions provider for the global learning market. Our AI rated F in Technicals, F in Growth, F in Low Volatility Momentum, and F in Quality Value. The stock closed flat at $2.58 on volume of 2,278,290 vs its 10-day price average of $2.35 and its 22-day price average of $2.35, and is up 73.15% for the year. Revenue was $54.89M in the last fiscal year compared to $37.84M three years ago, Operating Income was $(7.9)M in the last fiscal year compared to $(7.0)M three years ago, EPS was $(0.39) in the last fiscal year compared to $(0.72) three years ago, and ROE was (44.44%) in the last year compared to (84.35%) three years ago.

MORE FROM FORBESBoxlight (BOXL)

Jetblue Airways Corp (JBLU)

JetBlue Airways Corp
JBLU
 
is our next Top Short today. JetBlue iis a major American low cost airline, and the seventh largest airline in North America by passengers carried. Our AI systems rated JetBlue F in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 3.24% to $19.7 on volume of 8,188,776 vs its 10-day price average of $20.0 and its 22-day price average of $20.42, and is up 40.41% for the year. EPS grew by -4.91% in the last fiscal year. Revenue was $2957.0M in the last fiscal year compared to $7658.0M three years ago, Operating Income was $(1997.0)M in the last fiscal year compared to $701.0M three years ago, EPS was $(4.88) in the last fiscal year compared to $0.6 three years ago, and ROE was (30.95%) in the last year compared to 4.01% three years ago. Forward 12M Revenue is also expected to grow by 18.61% over the next 12 months. 

MORE FROM FORBESJetBlue Airways (JBLU)

Eargo Inc (EAR) 

Eargo Inc is our third Top Short today. Eargo is a revolutionary hearing aid manufacturer based in San Jose. Our AI systems rated the company F in Technicals, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 9.38% to $51.87 on volume of 302,301 vs its 10-day price average of $52.63 and its 22-day price average of $51.37, and is up 22.05% for the year. Revenue was $69.15M in the last fiscal year compared to $23.16M three years ago, Operating Income was $(33.27)M in the last fiscal year compared to $(31.57)M three years ago, EPS was $(3.8) in the last fiscal year compared to $(149.69) three years ago, and ROE was (41.8%) in the last year compared to (175.64%) three years ago. 

MORE FROM FORBESForbes Search

Livent Corp (LTHM)

Livent Corp is our next Top Short. Livent is a chemical manufacturing and lithium tech company focused on very in-demand lithium-based products such as electric vehicle batteries, handheld devices, and more. Our AI systems rated the company D in Technicals, D in Growth, F in Low Volatility Momentum, and D in Quality Value. The stock closed down 1.66% to $17.72 on volume of 1,890,000 vs its 10-day price average of $18.01 and its 22-day price average of $17.59, and is down 5.64% for the year. Revenue grew by 8.05% in the last fiscal year, and EPS grew by -5.85% in the last fiscal year. Revenue was $288.2M in the last fiscal year compared to $442.5M three years ago, Operating Income was $(10.8)M in the last fiscal year compared to $165.7M three years ago, EPS was $(0.13) in the last fiscal year compared to $0.99 three years ago, and ROE was (3.41%) in the last year compared to 28.94% three years ago. Forward 12M Revenue is expected to grow by 2.78% over the next 12 months, and the stock is trading with a Forward 12M P/E of 127.67

MORE FROM FORBESLivent (LTHM)

Maxar Technologies Inc (MAXR)

Space technology company Maxar Technologies is our final Top Short today. The Colorado-based company specializes in manufacturing communication, Earth observation, radar, on-orbit servicing satellites, satellite products, and related services. Our AI systems rated Maxar F in Technicals, D in Growth, F in Low Volatility Momentum, and C in Quality Value. The stock closed up 1.08% to $39.23 on volume of 1,399,688 vs its 10-day price average of $39.01 and its 22-day price average of $38.36, and is up 8.07% for the year. Revenue grew by 0.64% in the last fiscal year, Operating Income grew by 15.69% in the last fiscal year and grew by -142.45% over the last three fiscal years, and EPS grew by -120.05% over the last three fiscal years. Revenue was $1723.0M in the last fiscal year compared to $1804.0M three years ago, Operating Income was $51.0M in the last fiscal year compared to $(139.0)M three years ago, EPS was $4.99 in the last fiscal year compared to $(21.52) three years ago, and ROE was (5.42%) in the last year compared to (69.84%) three years ago. Forward 12M Revenue is expected to grow by 6.37% over the next 12 months, and the stock is trading with a Forward 12M P/E of 42.4. 

MORE FROM FORBESMaxar Technologies (MAXR)

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