'I bought the name right before the numbers because I like when you see strength going into the numbers,' Brown said.
Josh Brown, CEO of Ritholtz Wealth Management, said Tuesday he added to his position in Toast , a payments company for restaurants that just posted its latest quarterly results. "I've been involved in the stock for a while, and I bought the name right before the numbers because I like when you see strength going into the numbers," Brown said on CNBC's " Halftime Report .
" Toast, whose payments technology is popular in restaurants and cafes, saw shares jump about 4% Tuesday. Last week, the company posted its first-quarter report , as well as solid guidance for the current quarter and full year. Brown called out Toast's sharp growth in the first quarter, adding 6,000 net locations and announcing a big enterprise deal with Applebee's. The company also reported an annualized recurring run rate of $1.7 billion as of March 31, reflecting a 31% increase year over year. TOST YTD mountain Toast "There were a lot of analysts who thought this company would never get to profitability. Now, they're there and I think the stock looks great so I'm not trading, I'm sticking with my position," Brown said. Toast shares have rallied about 23% this year after nearly doubling in 2024. The firm went public in September 2021 . Brown also highlighted car dealer Carvana , a stock that just made his list of Best Stocks in the Market model. The widely followed investor said Carvana is probably the most obvious beneficiary of rising used car prices. DISCLOSURES: All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
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