5 Stocks to Watch Like $STBX
We had several big news announcements yesterday including the Starbox (STBX) IPO and BBBY’s $350 million liquidity loan to keep its doors open.
I expect a lot more volatility throughout the week so be prepared for whatever happens next.
5 Stocks to Watch for Wednesday August 24th 2022
Starbox (STBX)
Bed Bath & Beyond (BBBY)
GigaCloud Technology (GCT)
Bright Minds Biosciences (DRUG)
SoFI (SOFI)
Starbox (STBX)
The newest Malaysian fintech IPO was up over 1,000% at one point before closing around $15. Shares opened up at just $4 and there could be more upside over the next couple of weeks. I’ll post a STBX stock price prediction on my website later this week.
Bed Bath & Beyond (BBBY)
The company received a $350 million loan to raise cash and pay down some of its debt. I’m not impressed because BBBY needed this loan to convince suppliers to continue shipping products to their stores. I’m not getting involved in BBBY anymore although you could take a risk and buy some shares if you believe in turnaround story.
GigaCloud Technology (GCT)
GCT shares fell yesterday and I’m still holding some of my shares. I considered moving some funds into STBX if it bounces today.
Bright Minds Biosciences (DRUG)
DRUG shares are up 50% premarket. This stock is as volatile as they come. It’s trading between $1 to $3 so I would buy dips and sell into strength. I usually never invest in biotech companies who rely on FDA approvals to generate revenue. This is a day trade scalping play for me only.
SoFI (SOFI)
Joe Biden’s $10,000 student loan forgiveness package is a big boost to SoFI. That means the company could start generating loan revenue starting September 1st. SoFI is a good company that will disrupt the legacy banking system. I like the stock.
What’s Next?
I will be watching the two IPO plays, GCT and STBX. Perhaps GCT will recover or STBX will approach yesterday’s high of $50. We will see what happens.
That’s all for now. Thanks for reading and check out my site, InvestorTrip.com, for more articles and insights.