Try This Trade: Whirlpool On AHAM Data

Whirlpool Corporation WHR shares dropped 1.3 percent in less than an hour on Wednesday after February data from the Association of Home Appliance Manufacturers (AHAM) came up short of expectations.

The AHAM reported February shipments of major home appliances was up 3.9 percent year-over-year in February to 5.71 million units. Shipments of washers, dryers, dishwashers, refrigerators, freezers, ranges and ovens climbed 1.1 percent to 3.15 million units.

Whirlpool had previously provided +4-6 percent guidance for the full year.

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AHAM is a home appliance industry advocacy group, and releases monthly data that often provides an opportunity for Whirlpool traders. Unfortunately, there looks to be no set schedule for when the data is released. Looking back at data from recent years, monthly AHAM reports are typically released in the second half of the month, in the middle of the week (but not always on Wednesdays) and always at around noon eastern time.

While Whirlpool stock doesn’t typically have a large reaction to the monthly data, it often responds with a tradable short-term move such as the one it delivered on Wednesday.

Whirlpool shares are off to a tough start so far in 2017, down 3.1 percent year-to-date.

Back in February, 86-year-old billionaire investor George Soros upped his stake in Whirlpool to 58,700 shares worth roughly $10.3 million.