In a market where there’s so much skepticism around equities, commodities, and economics in general, there is one sector in the stock market which is thriving.
In fact, it’s a favorite in a select group of stocks analyzed by financial professionals with $1B Assets Under Management.
|Ticker Code||Ticker Name||Ticker Industry||Price Change||Average Volume (50)*|
|NBIX||Neurocrine Biosciences Inc||Biotechnology||3.81%||819,896|
|OPGN||Opgen Inc||Diagnostics & Research||-22.60%||887,300|
|ZOM||Zomedica Pharmaceuticals Corp||Drug Manufacturers – Specialty & Generic||24.00%||32,831,401|
|SCYX||Scynexis Inc||Drug Manufacturers – Specialty & Generic||7.14%||1,142,561|
|TUES||Tuesday Morning Corp||Discount Stores||-107.14%||1,637,651|
|ROKU||Roku Inc||Pay TV||33.82%||12,781,878|
|TXMD||TherapeuticsMD Inc||Drug Manufacturers – Specialty & Generic||19.08%||5,664,626|
|HHT||China Advanced Construction Materials Group Inc||Building Materials||-22.22%||891,906|
|MVIS||Microvision Inc||Scientific & Technical Instruments||8.87%||33,818,165|
|ONTX||Onconova Therapeutics Inc||Biotechnology||16.67%||5,015,068|
|TRPX||Therapix Biosciences Ltd||Biotechnology||-4.88%||2,836,328|
|GOOG||Kitov Pharma Ltd||Internet Content & Information||17.14%||2,127,956|
|AAPL||Fuelcell Energy Inc||Consumer Electronics||1.57%||39,573,757|
|FCEL||Apple Inc||Electrical Equipment & Parts||26.70%||8,386,688|
|MARK||Remark Holdings Inc||Internet Content & Information||72.12%||26,083,328|
|AMZN||Amazon Com Inc||Internet Retail||1.24%||5,629,197|
|SQBG||Sequential Brands Group Inc||Apparel Manufacturing||12.50%||962,584|
|TTNP||Titan Pharmaceuticals Inc||Biotechnology||28.13%||8,310,046|
Companies such as Netflix, Amazon and Disney have all seen demand for their streaming services surge through the coronavirus pandemic, but oftentimes, streaming services can be housed under one roof…
A Roku device.
Overnight, Morgan Stanley’s Benjamin Swinburne increased his price target on ROKU to $153/share, or a $20/share increase from its current trading range.
Swinburne’s thesis for his reported bullish stance on Roku (NYSE: ROKU) itself is that the company is pacing 7% month-over-month in advertisement revenue increases and is therefore expecting an 84% advertisement revenue increase through 2020.
That’s an outlier as compared to Roku’s 2019 advertisement revenue increase of 20%, and earlier forecasting of 20% growth year-over-year.
Bottom line, Roku is making more money than ever in advertising revenue, much of which comes directly from streaming services such as Netflix, and therefore, one could make the argument that now is indeed a time to be bullish on the company itself.
While this is an eye-popping stock catalyst to me personally as an individual with an education in economics and finance, I also like where the stock itself is trading today to potentially make a move as a trader.
Hovering around yesterday’s high-of-day of $132.88/share, Roku has run room toward $138.79/share, a resistance level established on May 7, 2020.
Should Roku trade above $132.88 short-term resistance, I’ll look to place a bullish trade on Roku, stretching profits as high as possible, and pay myself by the end of the day.
Yours for TrackStar trading,
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.