Everyone’s eagerly awaiting potential rate cuts on Wednesday — here’s what’s on our radar RN. Reporters Dan Simms and Jessie Moore have compiled what's hot and what's not, PLUS 3 Strong Buy recommendations from top-rated analysts.
P.S. Speaking of stocks that could benefit from rate cuts, don’t miss our latest stock of the week — this one might surprise you.
🔥 HOT: Greenlane Holdings (NASDAQ: GNLN) saw its stock price jump by 32.8% on Monday after the company announced that it would be releasing new products for detecting fentanyl and xylazine in substances. Greenlane is also releasing a drink spike test that can detect banned substances in drinks, protecting bar patrons from spiked drinks. Shares of Greenlane are up 3.3% YTD after the news.
🥶 NOT: Security and public safety company Knightscope (NASDAQ: KSCP) lost 23.6% on Monday after undergoing a 1/50 reverse split. The decision to reverse split is most likely an attempt by Knightscope to avoid NASDAQ compliance issues going forward. The company’s stock price has lost 74.4% this year and there’s no bottom in sight, as its daily volume is stable despite the increasingly low prices.
🔥 HOT: Shares of Sprouts Farmers Market (NASDAQ: SFM) rose by 4.4% on Monday after ISI Group analyst Michael Morris upgraded his price target for the company to $120 from $96. SFM has already had an excellent year, gaining 122.3% since January, but it might have more in the tank. A 4.4% gain might not sound that impressive, but SFM’s volatility is typically low. The stock has only gained more than 5% in a single day three times this year.
🥶 NOT: Satellite broadband company Telesat Corporation (NASDAQ: TSAT) lost 12.7% on Monday after gaining 10.33% on Friday thanks to a $2.54 billion dollar funding deal for its Lightspeed Low Earth Orbit broadband satellite system. Monday’s loss seems more like short-term profit-taking due to an initial overreaction to the news than a change in the fundamental outlook for the company, which is quite positive.
📈 Want more? Check out the biggest winners and biggest losers on WSZ.
Don’t settle for sub-par stock ratings. WallStreetZen's Top Analysts lets you see exactly who’s rating that ticker — right down to their win rate and average return. It’s a premium feature on our site, but we’ve unlocked a FREE sampling below:
Analyst/Firm: Manav Patnaik / Barclays
Analyst ranking: Top 5% / average return +11.81% / win rate 63%
Yesterday’s market close: $566.66
Price target: $700.00
1-year chart for MSCI, courtesy TradingView
Analyst/Firm: Rick Wise / Stifel Nicolaus
Analyst ranking: Top 7% / average return +10.31% / win rate 65%
Yesterday’s market close: $25.38
Price target: $30.00
1-year chart for AORT, courtesy TradingView
Analyst/Firm: Ken Goldman / JP Morgan
Analyst ranking: Top 9% / average return +14.07% / win rate 75%
Yesterday’s market close: $56.19
Price target: $59.00
1-year chart for KR, courtesy TradingView
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