5 Stocks to Watch Like $BBBY
I hope everyone had a good weekend. My BBBY stock price prediction article went viral on Saturday and over 5k people read about my $250 per share price target.
BBBY is also the #1 most popular stock on Reddit, according to Apewisdom.
I think there is massive interest right now in BBBY and it will remain my top overall pick as of now.
Monday will be extremely epic so buckle your seatbelts, folk.
Earnings Calendar for This Week
Source: Earnings Whispers
Big box retailers and several Bitcoin miners are reporting this week. There are many different stock & options plays available. CPI inflation data sent the market soaring last week so I’m going to focus on mostly call options.
Stocks to Watch for Monday 8/15/2022
Bed, Bath, and Beyond (NYSE: BBBY)
AMC Theatres (NYSE: AMC)
Walmart (NYSE: WMT)
Home Depot (NYSE: HD)
Target (NYSE: TGT)
Bed, Bath, and Beyond (BBBY)
BBBY stock is up 16% premarket and sitting around $15 as I type this email. That’s mean you made a 50% return if you bought when I first mentioned BBBY on August 9th.
I bought more BBBY this morning and truly believe it’s not too late to get into the stock. Ryan Cohen’s average purchase price is $15.34 so I believe getting the stock under his average cost basis is a fair deal.
AMC Theatres (AMC)
AMC no longer looks like a strong play due to the APE dividend’s dilution of AMC common stock. CEO Adam Aron is defending the APE dividend but I don’t like dilution of my shares.
It looks like I made the right decision so far by selling AMC last Friday and moving all my funds into BBBY stock. If you are still holding AMC shares then be prepared for dilution and a potential selloff.
Walmart (WMT), Home Depot (HD), and Target (TGT)
I grouped all 3 of these stocks together because big box retailers report earnings this week. Normally, I don’t follow these stocks but we will receive important information about the economy from these 3 companies.
There is an opportunity to profit from an options strategy such as a straddle (buying call and put options at the same strike). Inflation has really hurt retailers but everyone wants to know about forward guidance.
If earnings are positive then both stocks could jump 10% or more.
Walmart and Home Depot both report on Tuesday before market close.
What’s Next?
The truth is I’m FOMOing all of my extra funds into BBBY and won’t be focusing too much on other plays.
That’s all for now. Thanks for reading and check out my site, InvestorTrip.com, for more articles and insights.