At Spaceship we’re long-term investors. But we still keep an eye on what’s happening in the market day-to-day.
These were the companies in our Spaceship Voyager portfolios that made some big moves last week (14/03/22 - 18/03/22).
Top movers
Shopify (Shopify is in the Spaceship Universe and Spaceship Earth portfolios)
Shopify rose 41.7% as investors rotated back into growth stocks after the Federal Reserve raised interest rates for the first time since 2018.
However, Shopify is still down year to date. The year to date fall has been driven by supply chain issues and concerns that customers are less willing to spend given rising inflation – factors we believe are short-term in nature.
Shopify’s position as a platform for e-commerce is strengthening with their investments in shipping, fulfillment services, and a payments system including installments and apps like Shop that will continue to move the company towards being a complete operating system and marketplace. There was no company specific news.
Block (Block is in the Spaceship Universe and Spaceship Earth portfolios)
Block was formerly known as Square and is currently listed as Square in the Spaceship app.
Block rose 36.5% as investors rotated back into growth stocks. There was no company specific news. Overall, the stock has recovered some of its losses following a significant fall from its August 2021 highs.
Bottom movers
Megaport (Megaport is in the Spaceship Universe portfolio)
Australian network-as-a-service company Megaport fell 2.0% as the company’s founder and chairman Bevan Slattery sold down his holding.
The market release stated that Slattery intends to use the proceeds from the sale of shares to facilitate ongoing investment opportunities and that he remains positive on the company’s future. After the sale, Slattery owns 8.1 million shares and 67,000 options, the equivalent of 5.11% of the company’s issued capital.
Adore Beauty (Adore Beauty is in the Spaceship Universe portfolio)
Adore Beauty fell 1.5%. There was no company specific news and no change to our investment thesis.
Adore Beauty is a leading e-commerce platform for beauty products in Australia and is launching a private label brand which should improve business profitability.
The Spaceship Voyager portfolios invest in Shopify, Block, Megaport and Adore Beauty at the time of writing. Please refer to the Spaceship app or our website for more information on what each portfolio invests in.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
