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 (21/03/22 - 25/03/22).
Top movers
Tesla (Tesla is in the Spaceship Universe portfolio)
Tesla rose 10% as the company officially opened its German gigafactory on Tuesday 22 March 2022.
The factory is expected to produce 500,000 cars annually at full capacity. Tesla has been struggling to meet customer demand for its Model 3 and Model Y cars, and there are reports of lengthy delays in different parts of the world.
The opening of the German gigafactory will help take pressure off Tesla’s Shanghai factory where production has been suspended due to the covid lockdown.
The stock rose further early this week as the company announced a stock split. The company last split its stock in August 2020.
Bottom movers
Shopify (Shopify is in the Spaceship Universe and Spaceship Earth portfolios)
Shopify fell 14% digesting the 41% increase the previous week.
The moves are an indicator of current market volatility with no company specific news.
We like Shopify as they are building out an alternative e-commerce operating system to Amazon. The analogy is Shopify lets you build your own shop whereas Amazon can be considered a ‘supermarket’. Although Amazon attracts a lot of traffic, you are just one of many items on the shelf and Amazon owns the customer relationship. In contrast, Shopify does not compete with its retailers and enables them to build their own customer relationships.
Siemens Gamesa Renewable Energy (Siemens Gamesa Renewable Energy is in the Spaceship Earth portfolio) and Vestas Wind Systems (Vestas Wind Systems is in the Spaceship Earth portfolio)
Siemens Gamesa Renewable Energy fell 15% and Vesta Wind Systems fell 10% as they shed some of the gains experienced following the Ukraine War and the heightened focus on Russian oil and gas.
We believe the events of the Ukraine War will accelerate the shift to renewables as this shift can enable countries (particularly in Europe) to achieve energy independence, as well as averting the climate change crisis. There was no company specific news.
Fisher & Paykel (Fisher & Paykel is in the Spaceship Universe portfolio)
Fisher & Paykel fell 11% following a weaker than expected trading update with management forecasting a decline in revenue and lower margins due to higher freight costs.
Although the surging sales of the company’s respiratory devices have begun to normalise, we continue to hold Fisher & Paykel as we believe the long term opportunity to sell additional consumables (i.e. masks and accessories) for these devices remains strong. These consumables help drive higher utilisation of the sold machines whose install base is nearly twice the size it was prior to the pandemic.
The Spaceship Voyager portfolios invest in Tesla, Shopify, Siemens Gamesa Renewable Energy, Vestas Wind Systems and Fisher & Paykel 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.
