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Top Stocks of the Week!
Track trending stocks from all over the internet
Hope everyone had an amazing trading week! Before diving into the top stocks, let’s discuss the major changes that I have made to the newsletter.
I have moved from Revue to Substack as I felt that Substack has a better layout and design for showcasing all my previous work. Adding to this, it’s much easier to interact with readers on Substack as a lot of you have reached out to me via email and I felt that your suggestions and feedback should be seen by our 4000+ subscriber community.
Based on the feedback given by a lot of you, I am splitting the newsletter from one issue per week to two issues. One on Sunday morning which will contain the top stocks of the week and the second one will be on Wednesday Morning which will have the in-depth analysis of a stock or financial strategy.
Hope you enjoy the revamped newsletter. Now without further ado, let’s jump straight into the
Most Discussed Stocks of the Week
Overall, it was a good week for meme stocks in the market. It took a 176% rally in AMC stock price in one week to finally dethrone GME and become the most discussed stock of the week. GME is a close second and had an exceptional week in the market. Virgin Galactic also made it into the top 10 list due to them successfully completing their spaceflight. Another newcomer to the list is BlackBerry. If a stock could run for President, it should probably be BlackBerry as the percentage of people who have a bullish outlook on the stock far outweighs any other stock which is reflected in the sentiment. Electric car makers are still continuing to generate interest following the launch of Ford’s F150 lightning.
Top Growing Stocks of the Week
Above is the list of stocks that have exploded in the number of mentions throughout social media. We definitely have some interesting stocks on the list.
Virgin Galactic ($SPCE):
No points for guessing the top growing stock of the week. Virgin Galactic exploded in mentions due to its SpaceShipTwo craft (pictured above) reaching space. This marked the company’s first flight in more than two years and they expect to launch paying customers as soon as 2022. Wall Street analysts have flip-flopped on their rating first downgrading the stock price by 33% and then upgrading it back to their earlier recommendation (a 50% hike). Overall, the company has already reached the consensus 12-month price target of $31.20 and has risen a cool 25% in the last week.
Beyond Meat($BYND): The stock has rallied 28% last week mainly following commentary from CNBC's Jim Cramer. On his Mad Money show, Cramer said the WallStreetBets crowd should make Beyond Meat the next meme stock to drive a short squeeze. He specifically noted that almost 25% of $BYND shares are held short, setting up a scenario for sharp gains. Since Wednesday, there has been a continuous stream of $BYND YOLO’s and DDs across Reddit sparking the rise in the discussion.
BlackBerry($BB): shares jumped as much as 12% Wednesday amid cheers from Redditors and a broader rally in meme stocks. One important thing to note here is BlackBerry's short interest still remains below 10% of shares outstanding, meaning any short squeeze wouldn't have too much room to run. This article has an interesting theory where they argue that BlackBerry by any other name would have a much higher valuation.
NVIDIA($NVDA): announced a stellar quarter with revenue of $5.66 billion, up 84 percent from a year earlier, and Data Center revenue of $2.05 billion, up 79 percent from a year earlier. They are projecting a record $6.3B revenue next quarter. The stock experienced a delayed earnings reaction and has gained 8.4% this week. Considering how hard it was to buy the new NVIDIA product, I don’t expect their revenue growth to plateau anytime soon.
Sundial Growers($SNDL): was trending as the stock passed the $1-mark last Friday. For those who are not familiar with the company, it was ridden up from 60 cents to almost $3 within one month last February. With the current rally in stock price and with the price getting over the psychological barrier of $1, interest seems to be picking up.
Hope you enjoyed this week’s top stocks issue! If you found this insightful and know someone else who would benefit from this, please share it with them!
Disclaimer: I am not a financial advisor.
PS: Let me know what you think. I read and reply to every response :)