Rackspace Technology, Inc. (RXT)

$RXT
Target Lowered by BMO Capital Markets In-Line » Outperform USD 23 » USD 17
Downgrades Raymond James Financial Market Perform
Maintains Credit Suisse Outperform USD 27 » USD 21

I'm not in $RXT, but I just did a quick research on the latest Senior hires of the company since January 2020.

VP AWS Professional Service, VP Global Sales, CTO EMEA, VP Solutions & Services EMEA, VP AWS Solutions & Partnerships, VP Canada, VP Cloud Native, Director of Executive Communications, COO Asia Pacific & Japan, VP Solutions (West), VP Global Talent Acquisition, VP Architecture, CTO (Global), CTO (Products & Services).

A company doesn't hire this much on a Senior level if big things are not being cooked. I need to research things further to see the core business now.

5-star analyst Ashwin Shirvaikar from Citigroup rated
$IBEX w/a Buy and a $22 price target. Also rated $RXT as a buy with a $26 price target.
Ashwin Shirvaikar's Stock Coverage
https://www.tipranks.com/analysts/ashwin-shirvaikar

Follow the money, and the money is certainly not following $RXT.

Just before the $22.75 run, there was a press release by the company almost every day. Ever since they announced the results of the tender offer, it's been crickets. Just check the news section for $RXT. The story about Amazon also looks like a planted story just to pump the price up at a convenient time, when the stock was tanking.

Here is the title of the story that appeared in Yahoo Finance on Sep 1, "Rackspace CEO on recent earnings, AWS partnership." Interestingly, it is the same date that the stock hit the 52 week high. In my opinion, the title of the story was misleading. "AWS partnership," really.

It came out almost a month ago and Amazon still needs more time to decide. Besides Amazon had all the time to buy a stake before the IPO. How does it make sense for Amazon to all of a sudden show interest right after the stock starts to trade?

Everyone who bought the IPO at $21 has probably long gone. The underwriters had option to buy additional shares at $21. I bet they have bought the shares and sold in the run up to the $22.75 price.

The post is just my opinion, based on how the stock activity. Do your own homework before investing in this or any other stock.

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H A V E - A - G R E A T - W E E K E N D !
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Next week will be better!

$gevo $plug $spce $wkhs $srne $rxt $vldr $gnus $nio $solo $vldr

Fwiw, I did sell quite a few stocks today that I really like. It was a compromise. Here are a few I am not letting go at these ridiculous levels: $GEVO, $PLUG, $RXT, $SPCE, $IDEX, $ACRX
I also re-entered into $WKHS

P.S. The house is voting on stimulus plan on Friday, last I checked.