Episode 32: Breakout stocks Apple, Tesla and Target.
August 24
Happy Monday, I hope you had a great weekend. As I am sure everyone has seen, the fires keep ripping through California and it’s so sad as many of my friends and family have been impacted. In these challenging times please stay safe and we are here to help.
We kick off the week with several headlines as TikTok sues the U.S. government because of the ban, as it continues its talks with Microsoft. The fourth relief package is still being negotiated as the battle continues on passing the relief bill.
As we see some of these negative headlines, the stock market continues to rise and has key breakouts like Apple, Target, and Tesla, as Tesla just got an upgrade target of $3,500. One interesting opportunity is the increasing popularity of exchange-traded funds that afford both retail and institutional investors cheaper easier access. We saw that in ETFs covering commodities such as gold, silver, and other metals have risen 60% this year. Another ETFs to watch is Momentum ETF up 65%. I feel like things might be getting too expensive and high priced so I would look at the key opportunities to sell high and buy low that is a pretty straight forward strategy.
Tuesday: Earnings expected from Salesforce, Intuit, and Best Buy.
The rideshare shut down in California is extended as the battle continues with how they will address moving contractors to employees. If they require these gig economy style platforms to move to employees the opportunity becomes very complex and could impact not only ride-sharing but the food delivery services as Doordash gears up for an IPO.
Markets closed up today.
Dow up closing at 28,308
S&P up closing at 3,431
Nasdaq up closing 11,379
IPO
This week many companies that I covered at my time at Nasdaq have filed for IPOs including Airbnb, Doordash, and Asana. I want to remind everyone that there is an opportunity when these companies go public. I recently saw an article that says that 10% of Americans by wealth own 87% of all the stock outstanding. The middle class has been left out of the stock market surge. As the stock market has erased it’s losses from the pandemic in the sharpest increase rate on record.
That brings me to my next topic on how we plan to address the economic gap that is being created which I will talk about tomorrow on a broadcast with a community called Shack15. Tune in tomorrow and register at the link below. We have several interviews coming this week including Robert Purcell CFO of Paysafe and Lisa Morales Hellebo, a long time advocate for sustainable fashion and efficiencies in logistics. Have a great week.
Shack15 registration link .