Stocks in 2021

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Texas-based company GameStop is scheduled to report its first quarterly earnings on Tuesday after market close. The company expected to post adjusted earnings of $1.42 per share, on more than $2.2 billion in revenue.

Even though fundamentals didn’t work much with this stock from the last couple of months the traders are eagerly waiting for the earnings results. in late January, the surprising surge in GameStop stock, triggered by the individual investors on the Reddit forum r/wallstreetbets pushed shares from US$20 to US$480.

Will today's results help the $GME to gain further upside momentum?

By starting of 2021 the stock was trading below twenty dollars. Over the last 3 months, the video game retailer stock exploded by more than 2500% and the price has risen as high as $483. Meanwhile, the stock retreated to $40 area later. But by March, $GME share price had risen again.

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Technically the overall momentum remains mixed throughout the last couple of days after the first two weeks rally in this month. On Monday, the stock closed below the $200 level. In the short term if the bearish momentum continues the next downside target at $175 and $160. On the flip side, if the price holds above $210, the next immediate resistance to watch $230 and then $245.

Read more here- https://gulfbrokers.com/en/its-gamestop-earnings-day-gme-slips-below-200-ahead-of-results
 

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The global stock market recorded a solid gain in the first quarter of 2021. The markets are finished in 2020 with a big bang having delivered one of the fastest recoveries in the history of the markets after the sell-off in March 2020.

The US stock indices, Dow Jones and S&P 500 climbed to fresh all-time highs in March driven by various stimulus measures and the quick rollout of covid-19 vaccines. While the Nasdaq100 shy to break new heights after it reached a record closing high on February 12 as the investors shift their focus to economic-recovery sensitive stocks and away from growth stocks.

Few best-performing US stocks in Q1 2021


1. GameStop (NYSE: GME)

2. Avis Budget Group (NASDAQ: CAR)

3. AutoZone (NYSE: AZO)

4. Home Depot (NYSE: HD)

5. Twitter (NYSE: TWTR)

Several factors behind the strong rally in global stocks


  • The quick rollout of covid-19 vaccines appeared to be the primary driver of gains in the quarter.
  • The US stimulus bill was passed by Congress and signed into law by President Biden, providing a $1.9 trillion boost to the economy.
  • EU countries initiated another step toward financial integration with the approval of the EUR 1.8 trillion budget for 2021 to 2027, which also includes a EUR 750 billion coronavirus recovery fund.
  • Markets also responded positively to the Democrats taking control of the Senate.

Dow hits 33k for the first time


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The first quarter has been a profitable year for stocks in the Dow Jones Index. The Index increased by more than 3500 points, the rally was boosted a sharp rally in energy, financial and industrial stocks. On 18th March, the Dow surged above the major 33,000 resistance level for the first time in history, after the Federal Reserve said it expects to keep interest rates unchanged through 2023.

Biggest threats to the stock market in Q2

During the last week, the US indices Dow Jones and S&P 500 retreated from the record highs on concerns about the coronavirus pandemic in Europe. Meanwhile, the US indices rebounded back to the highs this week after U.S. President Joe Biden said that 90% of American adults would be eligible for coronavirus vaccines by April 19. On the other hand, the markets also climbed higher ahead of confirmation of President Biden infrastructure package of more than $3 trillion.

Here are the 4 main downside risks for investors in Q2.

  • Rising covid-19 cases remain a top concern for markets, with total global infections exceeding 123 million. Especially in Europe, worsening infection rates are raising worries of a “third wave”.
  • Any attempt to reform the US tax system has a tremendous impact on the performance of the stock market. On Tuesday, Treasury Secretary Yellen said the Biden administration was considering boosting the corporate taxes from the current 21% to 28% as the economy recovers from COVID-19.
  • With increased government spending, we will probably see an increase in inflation.
  • Another risk for equity markets is rising bond yields. The 10-year Treasury yield jumped 11 basis points above 1.75%, reaching its highest level since January 2020.
On the positive side, the Federal Reserve’s intention of keeping rates low through at least 2023 will continue to provide support for equities and the Covid vaccination programme is still on track despite some looming supply problems.

Conclusion

Considering all these above positive and negative points I advise everyone when you try to build a portfolio there should be at least some less-risky assets that can be useful in helping you ride out future up and downs in the market.

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“Years of preparation and focus have positioned us as the Internet’s preeminent neighbourhood pet store and a leading pure-play e-commerce company in the pet space.” Chewy CEO, Sumit Singh said.


The e-commerce pet-product retailer Chewy Inc. (NYSE: CHWY) reported better-than-expected financial results for its Fourth-quarter on Tuesday after the market close.

  • Earnings per share (EPS) $0.05 vs -$.10 expected
  • Revenue $2.4 billion vs $1.96 billion expected

This is the fourth time the company has topped consensus revenue estimates as the demand continued to be high for pet foods. During the last year, the pet industry total sales reached a record high of $103.6 billion after the sales of pet food and supplies skyrocketed in the COVID panic buying period.

For the upcoming quarter, the company now forecasts up to £1.55 billion of revenue. It expects its full-year revenue to fall in the range of £6.44 billion to £6.51 billion.

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The stock increased more than 10% in pre-market trading on Wednesday and climbed to above the $88 level following the strong Q4 results. Over the past year, the CHWY shares have gained more than 110%.

Read more here- https://gulfbrokers.com/en/chewy-shares-jump-10-on-q4-results
 

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The American education platform Coursera (NYSE: COUR) stock rose more than 30% on its first day of trading on the NYSE.

The IPO expected range was $30 to 33. $COUR opened for trading at $39 (18% ⬆️ ) and closed at 45$ (36%⬆️).

Coursera works with more than 200 universities and other educational institutions to offer its users online courses.

“We do see a post-pandemic world that’s going to have a whole lot more online learning as part of it,” CEO Jeff Maggioncalda said.
 

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The American software company Palantir Technologies (NYSE: PLTR) stock went public on September 30, 2020. The company shares gained nearly 200% and made a spectacular 3-month rally from closing their trading first session at $9.50 on Sept. 30 to $45 on Jan 2021. While the $PLTR dropped more than 50% since it reached the fresh all-time high of $45.

Palantir helps to provide software solutions for counterterrorism investigations and helps companies to better analyze, manage, secure, and understand their data.

Palantir posted 40% increase in Q4 revenue growth

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The software firm released the fourth-quarter financial results on Feb 16. The results were impressive but the stock fell more than 10% after the announcement. The company reported 40% revenue growth of $322.1 million for the quarter and for the full year 2020, the company posted 47% growth. The company expects that growth to be bigger than 30% for 2021. The tech company will release the next financial results in May. 18.

“We told the Wall Streeters that we will focus on building the long-term health of our company, that we are going to invest in our product development and in our clients, and you just have to battle it out with them,” Palantir CEO, Alex Karp said recently in an interview.

$PLTR Technical analysis

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During the last week, the stock slightly rebounded after a few week’s downsides move and it closed on Friday at $23. The $PLTR currently supported at $20 and the short-term resistance around $25 and $28. While considering the last few weeks bearish moves the price reached an important area. So there are chances the stock may eventually rise if the stock holds above $20. On the flip side, If the recent selling pressure continues the next strong support levels to watch $20 and $17.

Read more- https://gulfbrokers.com/en/palantir-stock-dips-to-near-20-is-now-a-good-time-to-buy
 

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The denim maker Levi Strauss & Co (NYSE: LEVI) reported better-than-expected last quarter financial results on Thursday. While during the last quarter the company revenue declined by 13% year-on-year to $1.31 billion but the results beat the Wall Street estimates of $1.25 billion. Levi’s e-commerce sites and online business saw revenues grow by 41% year-on-year in the last quarter.

  • Earnings per share: 0.34 vs. 0.25 expected
  • Revenue: $1.31 billion vs. $1.25 billion expected

Read the more detailed report here- https://gulfbrokers.com/en/levis-stock-soars-after-the-company-lifts-revenue-forecast
 

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One of the most anticipated IPO of this year Coinbase the major cryptocurrency exchange is launching an initial public offering on 14 April 2021 through a direct listing on the NASDAQ exchange under the ticker symbol "COIN". The company planning to offer 115 million shares at around $200 per share. Coinbase has opted for a direct listing over a traditional IPO, a direct listing in which existing shares are released for public trading.

The company had previously scheduled its IPO to March but set aside those plans after it was ordered by the CFTC to pay a civil penalty of $6.5 million in mid-March to settle charges for reporting false information over its transactions.

"We proactively engaged with the CFTC throughout their investigation, and we believe that our conversations were constructive and contributed to an outcome that is satisfactory for both parties." the company said recently.

WHAT IS COINBASE & HOW DOES IT WORK

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Coinbase founded in 2012 and it is the largest regulated crypto exchange platform in the U.S. Coinbase provides users with a simple and safe way to buy and sell cryptocurrencies on its platform. It has over 43 million users worldwide and has transacted more than $456 billion to date with $90 billion in assets on the platform. The company also offers a Coinbase e-commerce platform, which provides online retailers with software that lets them accept cryptocurrency payments in a fully decentralized way.


FUNDAMENTAL ANALYSIS

The company’s strong financial performance in recent years supported by the growing popularity of cryptocurrency. Bitcoin already has more than doubled in the last six months. Recently, Coinbase reported revenue of $1.8 billion in the last quarter. The revenue soared more than 800% year-on-year in the first quarter of this year. In 2020, the company revenue increased to 1.3 billion from $534 million in 2019. The company

2 BIGGEST RISKS TO COINBASE STOCK

  • Revenue spikes when the price of crypto runs up and declines sharply when trading activity falters. So as simple If the price of cryptocurrencies falls it may impact the revenue of the firm as well.
  • Crypto regulation has increased significantly in recent months. Coinbase has significant regulatory risk from CTFC.
CONCLUSION

Compare to other Crypto based firms listed on the stock exchange Coinbase considered a stable equity investment. On the other hand, this is an opportunity for investors who want to gain exposure to the crypto sector without directly holding cryptocurrency.

“The IPO market gives the outward appearance of a rebound but that is a false sense of confidence. The market is firming up and there are definitely upgrades but not all the signs are clear”. —David Menlow.

Read more here- https://gulfbrokers.com/en/ipo-of-the-month-coinbase-the-biggest-crypto-exchange-in-us
 

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Last week wall street celebrated blowout earnings results from the six American, investment banks including Goldman Sachs, JP Morgan, Bank of America, Wells Fargo, Citigroup, and Morgan Stanley. Most surprisingly all the big banks reported better-than-expected Q1 financial results.

Read the detailed report here with the technical chart -
 
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