It was a quieter week in relative terms. Bitcoin was one of the biggest stories as cryptocurrency is drawing renewed interest from speculative investors. President-elect Biden announced plans for more stimulus which has investors cheering more liquidity in the market even as the number of virus cases continues to stay at uncomfortably high levels.
Speaking of things being at uncomfortably high levels that could define the case for several stocks including Tesla (NASDAQ:TSLA) which analysts keep suggesting is just getting started. And some other electric vehicle startups continue to appear on the market and are capturing the attention, and dollars, of investors.
Some of the big banks reported this week. However, earnings season will kick into high gear next week. And the nation will officially usher in a new president. Meanwhile, the MarketBeat staff will continue to bring you the information you need to know regarding the stocks that are moving the market.
Articles by Sean Sechler
While the race to a Covid-19 vaccine dominated the headlines in 2020, the field of genomics continues to offer tremendous potential to help us live longer, healthier lives. Genomics stocks can be volatile, but have a massive upside. Sean Sechler gave speculative investors three genomics stocks that are strong buys at this time. Sechler was also looking at the esports industry. While some investors may not be familiar with this sector, it’s projected to grow to $1.5 billion by 2023. And coming off its reverse merger with a SPAC, Skillz Inc (NYSE:SKLZ) is now the first publicly-traded mobile esports platform. And for investors who desire a less volatile investment, Sechler recommended three agriculture stocks that should benefit from consistent long-term demand.
Articles by Jea Yu
Electric vehicle (EV) stocks are continuing to build on their momentum from 2020. Jea Yu was directing readers to one of the newest EV stocks to hit the market. Canoo Holdings Ltd. (NASDAQ:GOEV) went public on Dec. 22, 2020. The company is planning to launch three EVs with each targeting a specific niche. And although the company will not be in production until 2022, Yu suggests that patient investors may want to give the stock a look. Another sector that is generating interest is sports betting. And as Jea Yu wrote, online sports books are going to be the future of the industry. That’s why investors should keep Foley Trasimene Acquisition Corp II (NYSE:BFT) on their radars as they complete a reverse merger with PaySafe in 2021. Yu was also giving investors an alternative way to play the recent surge in Bitcoin (BTC). Investors can invest in the cryptocurrency mining company Riot Blockchain, Inc. (NASDAQ:RIOT).
Articles by Thomas Hughes
Thomas Hughes was also giving investors a different way to play the rise in Bitcoin. In this case, Hughes writes that the recent pullback in Ethereum (ETH) presents crypto investors with an intriguing buy-on-the-dip opportunity that may soar to new heights in 2021. Hughes was also looking at the EV sector. Like Jea Yu, Hughes includes Canoo as one of his two EV startups to put on your watchlist. Traditional energy stocks were beaten down due to the pandemic. However the sector began to recover late in 2020. And for value investors, Hughes recommends taking a look at Exxon (NYSE:XOM) as a play on this recovery.
Articles by Nick Vasco
It seems that many of our writers were looking at providing ways for investors to play Bitcoin. Nick Vasco took a different spin by suggesting that Bitcoin has the potential to launch Square (NYSE:SQ) to new heights because the company is now accepting the alternative currency via its CashApp. Taking a walk on the more conservative side, Vasco was looking at BlackRock (NYSE:BLK). The world’s largest asset manager holds over $7.8 trillion in assets under management (AUM) mostly in index funds and exchange traded funds. However Vasco sees more upside ahead for the firm. Vasco was also looking at Charles Schwab (NYSE:SCHW) as a growth play in 2021. The emergence of commission-free trades combined with many people having more time to invest propelled the stock to a strong second half of the year that will carry forward.
Articles by Sam Quirke
Bank stocks are beginning to report earnings and Sam Quirke had his eye on Bank of America (NYSE:BAC). The conservative bank stock continued to march forward while the broader market pulled back and Quirke writes why the best may be yet to come for BAC stock. Another company that is riding a strong tailwind is Upwork (NASDAQ:UPWK). As one of the world’s largest online freelance marketplaces, Upwork is benefiting from the work-from-home boom and has loads of momentum heading into 2021als. Quirke has also been nudging investors towards Intel (NASDAQ:INTC) since the third quarter. And with INTC stock pushing past the $70 mark recently, it looks like the company’s recovery is gaining momentum.
Articles by Chris Markoch
Cannabis stocks have been a lousy bet for investors since the bubble burst in 2019. However, the sector is now moving into the consolidation phase. And Chris Markoch was writing that investors may want to take a look at Aphria (NASDAQ:APHA) who is in acquisition mode. Markoch was also taking a look at bank stocks and sounded a cautionary note about Wells Fargo (NYSE:WFC). The bank is being allowed to resume share buybacks and dividends, but a lot depends on an economic recovery that may still be a quarter or more away. Airline stocks are starting to make a recovery and Markoch was writing that Delta (NYSE:DAL) may have a bit more upside than Southwest (NYSE:LUV).
Articles by Steve Anderson
If you’re an investor looking for a contrarian stock to buy
, Steve Anderson suggests looking at GameStop (NYSE:GME)
. The beleaguered video game and electronics retailer looked like it was going out of business but has made an impressive recovery. Anderson suggests some of it may simply be due to a short squeeze, but the story may have longer to run. Anderson was also bullish about Target (NYSE:TGT)
for more conventional reasons. The omnichannel retailer
reported another solid quarter of earnings and analysts continue to love the stock. However, Anderson points out that analysts are less excited about Zoom (NASDAQ:ZM)
. The work-from-home winner
is making a secondary offering that may be a whole lot of nothing but comes at the wrong time for a company that may be seeing diminished demand
7 Hotel Stocks Just Waiting For the Vaccine
Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.
Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.
All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.
Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.
View the "7 Hotel Stocks Just Waiting For the Vaccine".