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🏦 BofA's Top Picks For Second Half Of The Year
Bank of America highlights 7 stocks to outperform the market over the next 6 months, Roaring Kitty's back at it and more
Brooks Dyroff
June 27, 2024
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Happy Thursday, Zingernation! Usually, when we’re talking best-sellers it’s about a new Taylor Swift album or tickets at the box office. But one politician predicts Ozempic and other weight-loss drugs will become the best-selling pharmaceutical products in the history of the U.S… But does that mean they’ll get more cheaper or even more expensive?
–Aaron Bry & Nic Chahine
Today’s Price Action:
Plus, you’ve probably heard about EV cars. But what about EV bikes and trikes that are currently taking South America by storm?
TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
What Happened: Several pet-related stocks experienced significant upward movement on Thursday after Keith Gill, known as Roaring Kitty, posted a cartoon image of a dog on X, formerly known as Twitter.
What’s Happening: Gill’s tweet featured a simple cartoon image of a dog, yet it was enough to send shares of several companies soaring. Among the notable movers were Chewy, Inc. CHWY, which saw its stock jump by around 10%, PetMed Express, Inc. PETS around 4% and Petco Health and Wellness Company, Inc. WOOF, also up 4%.
What Else: Keith Gill, under the pseudonym Roaring Kitty, gained fame for his early and bullish stance on GameStop, which he shared on platforms like Reddit and YouTube. Here’s the full list of stocks that moved on Kitty’s latest social media posts.
PRESENTED BY LOBO EV
LOBO EV (NASDAQ: LOBO), the maker of innovative electric-powered 2 and 3-wheel vehicles has been rapidly expanding in South America after taking over China. The company announced an expansion into Ecuador, sending its stock soaring more than 20%. Their bikes can already be seen all over China and Brazil with several more markets opening before the year is out.
The bikes are perfect for markets with high gas prices and the company is specifically targeting these. It is ramping up production after pouring all of its proceeds from its recent IPO into expanding its state-of-the-art facility in China. Check out what the company has up its sleeve next here!
FIVE MOVERS
Levi Strauss & Co shares took a hit in Thursday’s session, falling more than 15% after the jeans company reported worse-than-expected earnings.
Chipotle’s stock moved lower today, closing down more than 5% as shares remain volatile after a 50-1 stock split went into effect.
Hims & Hers shares closed lower by more than 7% following a short report from Hunterbrook. Here are the details of the report.
Walgreens shares closed lower today, trading down more than 20% following the drugstore chain’s worse-than-expected earnings report.
Crowdstrike shares moved higher today after the cybersecurity play announced new technology deals in Latin America.
ONE TRADE IDEA FOR TOMORROW
Amazon, Pinterest, Wayfair Top List Of 7 Stocks Bank Of America Says To Watch In Second Half Of 2024
Briefly: A new report from Bank of America highlights over 100 catalysts for the second half of 2024. It gives investors key events and stocks to focus on as major indexes trade near all-time highs.
What Happened: As analysts look to set new price targets on market indices for the second half of the year, Bank of America is turning to catalysts that could impact internet and e-commerce stocks.
Quoted: "New AI products in focus, along with ruling on DoJ-Google case, and updates on potential TikTok ban," Bank of America says, are among the trends to watch.
The Companies: Among the large companies with second-half events that could impact their share price and future growth include Alphabet, Amazon and Meta Platforms. Here are the other stocks that Bank of America recommends for the rest of the year.
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