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Hodges Friday Fast Five

"In the investment business, you go to school every day, but never graduate." - Don Hodges

Friday Fast Five - 11/18/2022

by Hodges Investment Team, on Nov 18, 2022 7:00:00 AM

Five interesting things that Hodges Capital research analysts discovered this week...

#1 LARGEST CRYPTO FUND TRADES AT RECORD DISCOUNT TO VALUE OF HOLDINGS: Grayscale Bitcoin Trust (GBTC) has plunged more than 74% this past year. This outpaced the drop in Bitcoin of 64%. The gap has widened as GBTC trades at a 42% discount to the value of the Bitcoin it holds.

#2 AMAZON READIES FOR MASS LAYOFFS: Amazon is preparing to lay off 10,000 workers as part of its cost-cutting initiative. It is rumored that the layoffs could heavily impact its devices business, but also human resources and retail.

#3 RUSSIA HAS FALLEN INTO RECESSION: Eight months after Russia invaded Ukraine, Russia’s economy has dipped into a recession, according to Insider. Its GDP fell 8% last quarter from one year ago. International companies have exited Russia, and much of its currency and gold reserves have been frozen since the beginning of the war on February 24.

#4 CYBERSECURITY SPENDING CONTINUES TO BE STRONG: Security spending remains resilient, and overall sentiment is positive for 2023. However, increased sales cycle and increased price scrutiny may slightly throttle near-term growth.

#5 SAN FRANCISCO RANKED AS THE TOP AIRPORT IN THE US: WSJ released its rankings of airports, and San Francisco (SFO), Atlanta (ATL), and Minneapolis (MSP) rounded out the top 3 spots. Newark (NWK) ranked at the bottom of the list.  


Hodges Private Client is a program offered through Hodges Capital Management, Inc. (“HCM”). HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.

This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.

All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.

Hodges Friday Fast Five

We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Private Client research analysts list the five most interesting things they discovered that week. Subscribe to receive the Hodges Friday Fast Five in your inbox every Friday. 

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