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This ‘failing’ company’s stock is outperforming big tech since Trump was elected
President Trump has called The New York Times (NYSE: NYT) a "failing" company on numerous occasions, but it turns out that where the Times' stock is concerned, that is very much far from the truth. Since the November 2016 presidential election, The New York Times has surged a whopping 54 percent. To put it in perspective, that's more than tech giants Facebook (NASDAQ: FB) , Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) , which have rallied 45, 40 and 44 percent respectively since Election Day. Of course, in terms of market cap gain, the increase in the value of The New York Times is relatively small, but according to one market watcher, there are positive signs with the Grey Lady that could make the stock worth a closer look going forward. "Although they are suffering a broad trend, which is that print subscriptions continue to fall across the industry, they're continuing to see and ... more than recoup that in terms of digital sales," Gina Sanchez of Chantico Global said Wednesday on CNBC's "Trading Nation." "Those numbers actually are pretty healthy." The charts, however, are showing warning signs that the Times' surge may soon come to a close. Miller Tabak technician Matt Maley pointed out that the stock's 12 percent drop in the last month has taken shares below the 200-day moving average. What's more, a "double top" formation had formed in the stock preceding its big drop this past month, and Maley says that a pullback from a double top is normally a bearish signal."It's trying to hold its 200-day moving average, so if it can bounce back, it'll be all right," he said on "Trading Nation." "But on a technical basis, it looks like it's still got some more room to give back before it stabilizes a little bit."The stock was trading at around $17.18 on Wednesday, hovering near its May 18 lows. President Trump has called The New York Times (NYSE: NYT) a "failing" company on numerous occasions, but it turns out that where the Times' stock is concerned, that is very much far from the truth. Since the November 2016 presidential election, The New York Times has surged a whopping 54 percent. To put it in perspective, that's more than tech giants Facebook (NASDAQ: FB) , Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) , which have rallied 45, 40 and 44 percent respectively since Election Day. Of course, in terms of market cap gain, the increase in the value of The New York Times is relatively small, but according to one market watcher, there are positive signs with the Grey Lady that could make the stock worth a closer look going forward. "Although they are suffering a broad trend, which is that print subscriptions continue to fall across the industry, they're continuing to see and ... more than recoup that in terms of digital sales," Gina Sanchez of Chantico Global said Wednesday on CNBC's "Trading Nation." "Those numbers actually are pretty healthy." The charts, however, are showing warning signs that the Times' surge may soon come to a close. Miller Tabak technician Matt Maley pointed out that the stock's 12 percent drop in the last month has taken shares below the 200-day moving average. What's more, a "double top" formation had formed in the stock preceding its big drop this past month, and Maley says that a pullback from a double top is normally a bearish signal. "It's trying to hold its 200-day moving average, so if it can bounce back, it'll be all right," he said on "Trading Nation." "But on a technical basis, it looks like it's still got some more room to give back before it stabilizes a little bit." The stock was trading at around $17.18 on Wednesday, hovering near its May 18 lows.
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