“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” ~ Ayn Rand
Welcome to today’s edition of Wall Street Connected.
End-of-year trading has been mixed as Wall Street prepares to wrap up 2020, a year which has been met with unprecedented economic events and new all-time highs in the stock market.
While some equities have lost ground this week, many little-known stocks continue to trend higher in end-of-year trading.
One equity which has been trending higher is Jumia Technologies (JMIA), which has increased in price-per-share by about 500% in 2020, and was recently given a strong buy rating.
Similar to many of the most successful companies in 2020’s stock market, Jumia Technologies is an e-commerce company.
While the company is based in Germany, it is listed on the New York Stock exchange and trades at an average volume of 15,840,575 per day.
With the holiday season recently concluding and consumers continuing to do business online due to end-of-year discounts, many e-commerce companies have been featured on TrackStarIQ data.
Today, we’re seeing Jumia Technologies (JMIA) rank #3 on top-searched stocks by financial professionals with $1B+ in assets under management.
While e-commerce companies have been featured on surging traffic lately, an industry which cannot be ignored in end-of-year trading is diversified banks, which is ranking #3 in top industry searches by financial professionals with $1B+ in assets under management.
End-of-year trading is often met with what is known as tax loss harvesting. Traders and investors seek to manage their money in a tax-effective manner, and much of this requires conducting business with diversified banks.
Due to tax loss harvesting, even the strong markets may see short-term declines. As traders and investors look to sell their losing positions, markets can decline as a result.
This scenario is what took place yesterday in the Canadian stock market, and could take place in U.S. markets in the near future.
Here are some highlights from FA searches this past week…
|RANK||TOP SEARCHES BY FAs (Surging Traffic) This Week [STOCKS]||TOP SEARCHES BY FAs w/ AUM>$1B (Surging Traffic) This Week [STOCKS]||TOP INDUSTRY SEARCHES BY FAs (Surging Traffic) This Week [EQUITIES]||TOP INDUSTRY SEARCHES BY FAs w/ AUM>$1B (Surging Traffic) This Week [EQUITIES]|
|1||ACY||ZOM||Home health care services||Communication services, misc|
|2||UUU||ACY||Rental & Leasing Services||Prepackaged software|
|3||APRE||JMIA||Tobacco Products||Banks – Diversified|
|4||RHE||ASTI||REIT – Office||Conglomerates|
|5||ATIF||ASTI||Engineering & Construction||Internet Retail|
|6||EVAHF||RHE||Motor vehicle parts and accessories||Insurance – Property & Casualty|
|7||MLYCF||JAGX||Telephone and telegraph apparatus||Aerospace & Defense|
|8||THRBF||GRNQ||Telephone communication, except radio||Conglomerates|
|12||TWGL||VRME||Services-Advertising||Cutlery, Handtools & General Hardware|
|13||GRMM||VRME||Medical Care Facilities||Consumer Electronics|
|14||KOSS||FDIT||Semiconductors and related devices||Medical and hospital equipment|
|15||CREG||ATIF||Services-Miscellaneous Business Services||Drug Manufacturers – Specialty & Generic|
|16||ACAM||GHIV||National commercial banks||Auto Manufacturers|
|17||CRTX||GTEH||Chemicals||Software – Application|
|18||UIS||XELA||Industrial Distribution||Electrical Equipment & Parts|
|19||EQ||AMTY||Gold and Silver Ores||Services-Advertising|
|20||RCMT||BP||Waste Management||Scientific & Technical Instruments|
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As you may be aware, Wall Street Connected posts new video content and educational lessons on a regular basis.
And as we prepare to enter 2021…