Posted on June 4, 2021 by Brad Steveson
Let me start by saying I am not claiming any prophetic abilities that allow me to know where a stock’s price is going. What I am claiming is there are a few reasons that HYRE stock has performed so well since the Q1 earnings call leading to frustration from many claiming to be short while expecting the stock price to fall.
If you are new to the HYRE story, you may benefit from the posts I have written about HYRE previously. These may help explain how HYRE has been setting itself up for a big 2021 and likely an even bigger 2022.
Most recently there have been a few posts in my breakout room club channel post Q1 earnings release. I would like to highlight a few points from a specific post that may shed some light.
Notice the highlighted text. It gives you a feel for where the analysts following HYRE think this company is headed. If you review the entire transcript, you will see that every analyst seemed to recognize that HYRE has something special brewing.
In the comments I shared a spreadsheet with some financial highlights that may indicate where this company is headed financially as a result of their newly expanded strategic partnerships. The point is the company should go cash flow positive in Q3 of this year and could make $1.00 to $1.50 in adjusted EBITDA in 2022.
So, it would not surprise me to learn that investors have been accumulating the stock and reducing the effective float since the earnings call. In addition, my good friend Aaron Warwick has calculated that HYRE likely made the Russell 2000 cut off this year, which may be creating additional eyeballs and buying pressure on the stock.
Disclosure: I am long and I may buy or sell shares at any time.