Hot or Not, Stock Market Edition: 12/13/2024

What’s hot? Zeta Global Holdings (NYSE: ZETA), which recently experienced massive losses but appears to be recovering, as well as Nvidia (NASDAQ: NVDA), which just erased all of its recent losses. 

What’s not? SoundHound AI (NASDAQ: SOUN) isn’t as hot as its 500%+ gains YTD might imply; Dave & Busters Entertainment’s (NASDAQ: PLAY) big comeback may not be as it seems. Keep reading for more — and check out the biggest winners and biggest losers on WSZ.

🔥 HOT: Zeta Global Holdings (NYSE: ZETA) has a strong potential for growth and momentum on its side, earning it a B Zen Rating and a Buy recommendation. The company recently fell hard, losing an absurd 53% on news that fellow marketing companies Omnicom and IPG would be merging. While the news could be concerning, it’s also an opportunity for Zeta to grow, especially since the company already has an existing relationship with both Omnicom and IPG. Even after its recent skid, ZETA is still up 77.9% YTD, and we see its current price as a bargain.

🥶 NOT: SoundHound AI (NASDAQ: SOUN) has gained 536% YTD after AI giant Nvidia revealed that it owned nearly $4.7 million worth of the company. So why do we give it a Zen Rating of D? Simply put, buying SOUN right now is most likely a classic case of chasing hype after the majority of a move has already happened. SoundHound insiders sold nearly $11 million worth of shares, according to a recent SEC filing, and the stock has now lost 16% from its high a few days ago. While it’s possible that the blistering rally continues, the uncertainty and volatility of another big move make this a sell.

🔥 HOT: Nvidia (NASDAQ: NVDA) gained 3.1% on Wednesday, erasing all of yesterday’s losses and easing fears that it would break out of its recent trading range to the downside. While the market holds its breath waiting for inflation numbers, NVDA enjoyed a small pop thanks to a book release about the company’s founding and history called “The Nvidia Way.” Gaining 3% in a day might not seem like much for a company that’s gained 182% YTD, but with its recent sideways movement, any day in the green is a good day.

🥶 NOT: Dave & Busters Entertainment’s (NASDAQ: PLAY) comeback hit a bit of a snag on Wednesday in the form of its CEO stepping down after an unexpectedly poor earnings report. The company lost $0.84 per share, which was way higher than the priced-in loss of $0.39 that Wall Street expected. As a result, the company announced that its CEO, Chris Morris, was leaving after holding the position for just two years. Morris instituted the strategy that’s seen PLAY fall 45.1% YTD, so it’s not that surprising to see him go. The uncertainty surrounding the company’s future and its recent poor performance earns it a C Zen Rating. Want more? Check out the biggest winners and biggest losers on WSZ.

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