nCino (NCNO)

2020 IPOs cost way too much, and are worth buying now that they are out of style and cheaper. They provide cloud-base banking software with few, if any, competitors. It IPO'd last July at $91, too high. He recommended $68. It zoomed up, then plunged to $57 last month--the buying price. It's rebounded to the low-$70s. You can buy it at current dips, but don't rush into it.

Was today's tech rally a blip or does it have legs? NCNO is an example. They make cloud software for big banks and little credit unions. A terrific company. The stock has beens expensive since last summer's IPO, but it's gotten much cheaper recently. They just reported a strong quarter: 47% revenue growth and full year's sales forecast was higher than expected, but are guiding to a larger-than-expected loss. Now, Wall Street wants earnings, not revenue growth.

They work with global financial companies to increase efficiency in lending and customer relations. It's been breaking out in recent days, up 6-8%. The financial industry is ripe for disruption to be more efficient and NCNO is a leader here. (Analysts’ price target is $93.14)

Down 22% in the past year, but he still believes strongly in it. The stock action is wrong.