Vimeo VMEO is Close to Break Out of a Key Resistance Point
This is Alexander Goldman, The famed stock picker, I have identified that Vimeo VMEO could be close to a breakout, take a look below. Remember to sign up to our FREE Newsletter below to receive the hottest stock picks before they run.
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Vimeo VMEO is setting up to be a possible monster after it breaks through this resistance point, but before let’s go over the basics.
Vimeo Company Snapshot
Company Name: Vimeo Inc.
Ticker: VMEO
Exchange: NASDAQ
Website: https://vimeo.com/
Company Summary:
Vimeo, Inc. provides online video software and services. It also provides professional software, tools and technology for creators and businesses to host, distribute and monetize their videos anywhere. The company was founded in December 2020 and is headquartered in New York, NY.
What is the news?
Vimeo Inc. shares were down 20% to $11.09 in afternoon trading after a wider than expected loss and guidance for slowing revenue growth.
The provider of online video software and services after the bell Wednesday reported fourth-quarter loss per share of 15 cents, wider than FactSet consensus for a loss of 8 cents.
Revenue rose to $106.1 million, beating FactSet consensus for $105.3 million. The growth was driven by an 11% increase in subscribers and 13% growth in average revenue per user, the company said. HERE
1 Month Chart
Technical Analysis:
After horrible news and a over reaction, VMEO seems to be coming back.$14 is tthe magic number for the PPS for Vimeo VMEO to beat, it is getting close so keep your eye on it. If it beats, it could run, but don’t count on it. The financials looked bad, real bad, so yes it was an over reaction but I don’t thin sentiment will be better than where it was, $14 after that news. Unless, its an over reaction to a over reaction!
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