“Don’t let the fear of losing be greater than the excitement of winning.” ~ Robert Kiyosaki
Welcome to today’s edition of Wall Street Connected.
Through what has been a rather indecisive couple weeks in markets, one stock sourced by TrackStarIQ’s financial professional data continues to stand out to many traders and investors.
Currently ranking #2 on top searched stocks by financial professionals with $1B+ in assets under management, Gamestop Corp (GME) has quintupled in price-per-share over the past two weeks.
As the stock initially found buyers and began its bullish run, many short-selling firms stated that Gamestop had become overvalued, and was a house of cards waiting to collapse.
Even Citron Research, one of the most popular short-selling firms in the financial space publicly stated their bearish opinion on social media…
Having recently added three new board members, Gamestop Corp (GME) is ranking #2 in top searched stocks by financial professionals with $1B+ in assets under management.
When a stock increases 500% in price-per-share, one may often wonder why moves of this nature take place.
Many experienced traders and investors refer to moves of this nature as short squeezes.
In the case of a short squeeze, stocks which are heavily shorted by retail and institutional traders alike due to a particular catalyst are capable of making substantial upside gains if the stock rises.
As shorts begin to cover their losing positions at rapid paces, bulls take full control of the given move in a very short amount of time.
This can often result in a stock increasing in price-per-share at a faster pace than if a stock were to simply receive an analyst upgrade, or report positive quarterly earnings.
Here are some highlights from FA searches last 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||GME||GME||Drug Manufacturers – Specialty & Generic||Specialty Retail|
|4||AUPH||GTLL||Diagnostics & Research||Communication Equipment|
|5||BNGO||LAC||Auto Manufacturers||Cutlery, Handtools & General Hardware|
|6||TSLA||SENS||Software – Application||Diagnostics & Research|
|8||NNDM||ITRM||Software – Infrastructure||Biotechnology|
|9||ZOM||NAK||Specialty Chemicals||Other Industrial Metals & Mining|
|10||BB||GEVO||Medical Devices||Specialty Chemicals|
|12||NIO||BB||Internet Content & Information||Software – Infrastructure|
|14||BLSP||NCTY||Electrical Equipment & Parts||Electronic Gaming & Multimedia|
|15||PLUG||IBM||Computer Hardware||Information Technology Services|
|17||BHC||BLSP||Consumer Electronics||Services-Computer Programming, Data Processing, Etc.|
|18||ALL||QMCI||Credit Services||Business services, misc|
|19||TSNP||OPTI||Oil & Gas E&P||Semiconductors|
|20||FCEL||TPR||Insurance – Property & Casualty||Pharmaceutical preparations|
What We’re Reading:
- Fly Intel: Top five weekend stock stories.
- Schedule for the week of January 24, 2021.
- Extreme speculative behavior and valuation.
What We’re Watching:
The dollar has been steadily declining since November of 2020.
Some analysts may suggest that the dollar is currently undervalued.
Is now the time to buy the dollar?
What We’re Liking (Sponsored):
- The clock just started on the biggest financial event in 20 years. And the next few weeks could decide your wealth in 2021. Here’s what to do now.
- Looking to reduce portfolio volatility? Consider Mini VIX futures.
- Global cannabis-based pharmaceuticals are expected to reach record highs this year. This company will be at the forefront.