Why Stock Analysts Usually Win
Plus, Saudi Aramco's 90% Jump.
Today is Monday, August 15, 2022.
New to this newsletter? Sign up here.
Why Stocks Analysts Usually Win
There’s a big difference in the way that top analysts and average traders invest right now, according to Covey CEO and Founder Brooker Belcourt in a new episode of the Early Bird podcast.
Analysts’ Favorites: Today’s top analysts favor high-growth names that have been battered this year, including some technology stocks, according to Belcourt.
Avoid: Belcourt said that top analysts are now staying away from cryptocurrency and energy stocks. Average traders currently like those two investments.
Same Page: As for areas where analysts and average traders are aligned, Belcourt said they both like gold and U.S. treasuries.
Final Thoughts: What advice does Belcourt offer average investors? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: Ginkgo Bioworks Holdings (NYSE: DNA), Niu Technologies (Nasdaq: NIU), ZipRecruiter (NYSE: ZIP), Agrify (Nasdaq: AGFY), Ammo (Nasdaq: POWW), Clear Secure (NYSE: YOU), Tencent Music (NYSE: TME), Weber (NYSE: WEBR), Compass (NYSE: COMP), Bitfarms (Nasdaq: BITF), Shoals Technologies Group (Nasdaq: SHLS), DouYu International Holdings (Nasdaq: DOYU), Fluence Energy (Nasdaq: FLNC), IM Cannabis (Nasdaq: IMCC), Fabrinet (NYSE: FN), GreenPower Motor Company (Nasdaq: GP), Albireo Pharma (Nasdaq: ALBO), Uphealth (NYSE:m UPH), Greenidge Generation Holdings (Nasdaq: GREE), Blend Labs (NYSE: BLND), ThredUP (Nasdaq: TDUP), World Wrestling Entertainment (NYSE: WWE).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: Cabinet Health (Republic), Straw Hut Media (MicroVentures), Block Forms (MicroVentures), Drink LMNT (Republic), Gurucan (Republic).
Notable Economic Events Today: NY Empire State Manufacturing Index (8:30 a.m. ET).
Saudi Aramco Grows Income by 90%
Net income for Saudi Aramco (TADAWUL: 2222) is up 90%, the oil giant announced Sunday.
Financials: Saudi Aramco also said that it has achieved a free cash flow of $34.6 billion and a net income of $48.4 billion.
Quote: “We expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts.” - Aramco President & CEO Amin H. Nasser.
Big Output: Following a brief outage last week in the Gulf of Mexico, Reuters reports that Saudi Aramco wants to ramp up output.
Final Thoughts: Shares of Saudi Aramco are up 25% this year as the energy sector soars.
Cardano Continues Growth
The price of the cryptocurrency Cardano grew 9% Saturday, a daily increase that surpassed most mainstream cryptos, followed by a small 2.5% drop on Sunday.
Catalyst: An upcoming technology upgrade is the main reason why Cardano is seeing a price surge recently.
Numbers: Cardano has lost about half of its value in 2022, but has been trying to make a comeback in the past month.
Background: The first half of the year was rough for crypto, with values plummeting. However, the decreases have leveled off. For example, Bitcoin is up about 20% in the past month.
Final Thoughts: Despite the recent increase, some analysts see the price of Cardano falling this week.
Trends to Watch
Other Ways to Win: Robinhood Learns to Nab Interest Income (The Wall Street Journal)
Buggy: Acala’s Stablecoin Falls 99 Percent After Hackers Issue 1.3 Billion Tokens (CoinDesk)
Didn’t See This Coming: China Surprises With Rate Cut as Data Shows ‘Alarming’ Slowdown (Bloomberg)
Congratulations: Tesla has built 3 million vehicles, a third of those in China, Elon Musk says (MarketWatch)
Hopeful: Shiba Inu eyes 50% rally as SHIB price enters 'cup-and-handle' breakout mode (Cointelegraph)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Be social: Like our Facebook page and follow us on Twitter.
Want more investing tips? Listen to the podcast.
Questions or comments? Hit reply to reach out.