5 Stocks to Watch Like $TSLA
There will be a lot of investors watching Tesla (TSLA) today because of the company’s recent 3 to 1 stock split. Stock splits is considered extremely bullish so kudos to everyone who owns Tesla stock.
Also, Webull’s Up to 12 free stocks promotion is ending soon. Be sure to sign up for a Webull brokerage or IRA account to get your free shares.
Let’s see how the market responds to the news.
5 Stocks to Watch for Tuesday August 25th 2022
Tesla (TSLA)
Grab (GRAB)
Lucid Group (LCID)
GigaCloud Technology (GCT)
Canopy Growth (CGC)
Tesla (TSLA)
The Tesla stock split means there are now 3 billion shares outstanding and right now TSLA shares trade around $300. Companies perform stock splits to get more people to buy the stock plus make options trading much easier. It will be easier to buy and sell TSLA calls and puts due to the cheaper share price. I’m bullish on TSLA although I prefer Lucid Motors (LCID) because the Lucid Air is a better EV in my opinion.
Grab (GRAB)
The “Uber of Singapore” posted a very strong Q2 quarterly report and plans to break even on EBITDA in Q1 2023. Grab is very popular in SE Asia and offers food & grocery delivery, ridesharing services, and wallet to wallet digital payments. I’m bullish on the stock and it’s under $4, which is a big discount from its $10 initial SPAC price.
Lucid Group (LCID)
When Tesla moves higher, Lucid Group usually follows suit. LCID is like Tesla 2.0 in regards to its technology and design team. The company plans to scale deliveries aggressively in the 2nd half of 2022 and I’m loading up on the stock. At under $17 per share, I think it’s a much better deal than Tesla (TSLA)
GigaCloud Technology (GCT)
I’m still sitting on my GCT stock and it’s settled around the $30 range. Well see if the volume picks up otherwise I might take a loss and move into some call options.
Canopy Growth (CGC)
Don’t sleep on Cannabis stocks. U.S. federal legalization of Marijuana would send Cannabis stocks soaring to the moon. The entire sector has been crushed but I believe now is the time to load up on these beaten down stocks.
What’s Next?
I may trade some TSLA call options to see if I can make a quick profit. There is a lot of attention on EV stocks as well so I may add to my LCID position.
That’s all for now. Thanks for reading and check out my site, InvestorTrip.com, for more articles and insights.