Today’s Research Reports on Stocks to Watch: Dropbox and Tintri Inc.
Shares of Dropbox and Tintri Inc. were flying higher in Thursday’s trading session. Neither company had any significant news yesterday and Tintri’s gains were especially unusual as the company has been struggling and may even potentially be delisted from the NASDAQ if it continues to trade under $1.00.
RDI Initiates Coverage on:
Dropbox, Inc. shares closed up 14.05% on about 23.5 million shares traded yesterday. It was the biggest day of gains the stock has seen since going public several months ago. Shares soared to a new high of $38.09 on Thursday though there was no particular news from the company yesterday. It was earlier in the week that the file hosting service company announced updates on its shingled magnetic recording (SMR) storage technology. Dropbox had also said that it would be the very first to deploy this technology "at exabyte scale." Senior Vice President of Engineering, Product, and Design, Quentin Clark, stated, "Creating our own storage infrastructure was a huge technological challenge, but it’s already paid dividends for our customers and our business. As more teams adopt Dropbox, SMR technology will help us scale our infrastructure by providing greater flexibility, efficiency, and cost savings. We’re also excited to make this technology open-source so other companies can benefit from it.”
Access RDI’s Dropbox, Inc. Research Report at:
Tintri, Inc. shares closed up almost 36% yesterday on almost 7.5 million shares traded. There was no particular news from the company to explain the gaining activity yesterday. The company had postpone a June earnings call and hasn’t yet announced a rescheduling date. It was in a May 31st filing with the U.S. Securities and Exchange Commission that the enterprise cloud platform company said it does "not have the ability to repay” existing debt and that it doesn’t have “sufficient liquidity to continue our operations beyond June 2018." Yesterday’s gains may have seemed highly unusual for the stock given the background of what is going on with the company. Shares hit below $1.00 on May 22nd for the first time and if they continue to remain under a dollar for 30 days, the stock will be subjected to NASDAQ’s de-listing process.
Access RDI’s Tintri, Inc. Research Report at:
Our Actionable Research on Dropbox, Inc. (NASDAQ: DBX) and Tintri, Inc. (NASDAQ: TNTR) can be downloaded free of charge at Research Driven Investing.
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