10 Stocks to Watch Like $SBE
Welcome folks! The House passed the Holding Foreign Companies Accountable Act on Wednesday, which could affect any Chinese companies that don’t have its books properly audited. It will be interesting to see how everyone reacts to the news.
Chinese EV Stocks - Nio (NIO), Li Auto (LI), and Xpeng (XPEV) sold off early in yesterday’s session then rallied much higher. The good news is all 3 stocks are being audited by PricewaterhouseCoopers Zhong Tian LLP, a PCAOB approved auditor. That means these stocks have a tiny chance of being delisted. They could move higher during today’s session.
Cannabis Stocks - Huge news for Cannabis stocks. The WHO approved removing marijuana from the major narcotic drugs list. This is one step closer to world goverments seeing Cannabis as a powerful healing plant. We are still waiting news on the More Act. All Cannabis stocks like Aurora Cannabis (ACB), Canopy Growth (CGC), Tilray (TLRY), and Green Thumb (GTBIF) could move higher on the good news.
Uber (UBER) - Uber plans to sell its air taxi unit to clean up their books and move towards profitability next year. Uber stock is trading at an all-time high now. It’s also my largest position.
Chargepoint (SBE) - Chargepoint is near the December 15th merger date and I picked up a few shares on the dip yesterday. Let’s see if SBE can remain above $30 and breakout. This stock is very undervalued. (watch video)
Ehang (EH) - The Chinese drone maker reports earnings today. Let’s see if the earnings causes a big movement in the stock price.
That’s it for today. I think the Chinese EV stocks will respond positively to the news.
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