The stock market fell on Tuesday, as investors evaluated the latest batch of corporate earnings report.
Overall, S&P 500 declined 0.1% to 4,017, while NASDAQ dropped 0.3% to 11,334.
Tweet of the Day
$ZS $NET Gartner Predicts 10% of Large Enterprises Will Have a Mature and Measurable Zero-Trust Program in Place by 2026, up from less than 1% today.
— Samuel Mečiar 🕵️♂️ (@SamMeciar) January 23, 2023
Chart of the Day
Our chart of the day is the Cintas Corporation (CTAS) as of January 12, 2023, when the stock was at $446.
Cintas is the largest uniform supplier in North America, but the company offers so much more to small, medium and large businesses. Cintas has a great system which is to provide each worker uniforms for two weeks, with one set being used by the employee and the other being laundered.
The company is the greatest stock investors are totally overlooking. The stock is up from $41 to $446 the past ten years, basically a ten-bagger. Unfortunately, my clients don’t own it as David Sharek felt business would suffer during COVID-19 lockdowns. And now, he is still waiting “on a dip” to get back in.
Cintas is delivering results like it usually does. And that’s keeping the climbing higher. But the valuation is too high to buy in right now.
CTAS is on the radar for the Conservative Growth Portfolio. The stock is a good example of why you don’t sell good long-term stocks on bad short-term news.
