“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.” ~ George Soros
Welcome to today’s edition of Wall Street Connected.
Markets opened higher this morning as hopes that the first COVID-19 vaccine could be available within weeks renewed bets of a swift economic recovery next year.
With electric vehicle stocks continuing to gain popularity and shareholder demand, stocks such as Nio Inc (NIO), Electrameccanica Vehicles (SOLO) and Workhorse Group (WKHS) are now up as much as 1,200% year-to-date.
In fact, those three China-based electric vehicle stocks are ranking #1, #10 and #20 respectively amongst financial professional searches from last week.
To further highlight Wall Street’s sentiment in electric vehicle stocks in recent trading sessions, you’ll notice Tesla Inc (TSLA) ranking #2 on top searches by financial professionals with $1B+ in assets under management from this past week as the electric vehicle giant recently received a $1,000 price target from Wedbush Securities.
Here are some highlights from FA searches this week:
|RANK||TOP SEARCHES BY FAs (Total Traffic) Previous Week [STOCKS]||TOP SEARCHES BY FAs w/ AUM>$1B (Total Traffic) Previous Week [STOCKS]||TOP INDUSTRY SEARCHES BY FAs (Total Traffic) Previous Week [EQUITIES]||TOP INDUSTRY SEARCHES BY FAs w/ AUM>$1B (Total Traffic) Previous Week [EQUITIES]|
|2||TSLA||TSLA||Auto Manufacturers||Auto Manufacturers|
|3||BA||WFC||Software – Application||Banks – Diversified|
|4||NEWS||PFE||Aerospace & Defense||Drug Manufacturers – General|
|5||FCEL||NIO||Electrical Equipment & Parts||Auto Manufacturers|
|6||SRNE||SOLO||Drug Manufacturers – Specialty & Generic||Auto Manufacturers|
|7||BCRX||DDOG||Internet Retail||Software – Application|
|8||AAPL||FCEL||Internet Content & Information||Electrical Equipment & Parts|
|9||BABA||LMPX||Semiconductors||Auto & Truck Dealerships|
|10||SOLO||DNK||Credit Services||Travel Services|
|12||AMZN||ADMP||Diagnostics & Research||Drug Manufacturers – Specialty & Generic|
|13||PLUG||BABA||Software – Infrastructure||Internet Retail|
|14||TSSI||BLNK||Oil & Gas E&P||Specialty Retail|
|15||FVRR||KTEL||Specialty Retail||Communication services, misc|
|16||WWR||BA||Drug Manufacturers – General||Aerospace & Defense|
|17||NAKD||CBAT||Medical Devices||Electrical Equipment & Parts|
What We’re Reading:
- While Pfizer Inc (PFE) and Moderna Inc (MRNA) had been leading candidates to provide an effective COVID-19 vaccine, optimism further increased this morning upon AstraZeneca’s COVID-19 vaccine showed up to 90% efficacy in advanced trials. Full story…
- Oil stocks have struggled in 2020, with many losing as much as 50% in price-per-share. Recently many oil stocks have recovered reflected by the VanEck Vectors Oil Services ETF (OIH) having increased by 38% in price-per-share in the past two weeks. With a recovery taking place, what’s next for oil stocks? Continue reading…
- With retailers typically in high-demand through the holiday season, fundamental analysis is critical before making trading or investing decisions. New fundamental news on two popular retailers was just released. Check it out…
What We’re Watching:
Fuelcell Energy Inc (FCEL) is up over 400% in November.
Many traders and investors continue to wonder “what’s the story on this small-cap stock anyway?”
P.S. While U.S.-based electric vehicle catalysts have been lucrative for many traders and investors in 2020, China-based electric vehicle stocks have outperformed U.S.-based electric vehicle stocks in 2020 in many cases. Explore the Chinese market.