10 Stocks to Watch Like $TSLA
It’s been a wild week with lots of good stimulus & vaccine news. I’m not doing too much trading today and will be a passive watcher to see how the market reacts to the Moderna vaccine news.
There are still 12 days left in the year so I’ll be tax loss harvesting as 2020 ends. I think it’s a good time to take a good look at your portfolio, sell losers to reduce your taxable income, and invest more money in your winners. I’ve sold some stocks to hold fewer positions. Less is more.
Here are the stocks I’m watching today:
Tesla (TSLA) - Tesla keeps going up! Seriously, Tesla is a beast of a stock and still could run higher until S&P 500 inclusion next week. Maybe there will be a selloff after the news hits next week but Tesla has been a major winner this year (up over 600% YTD).
Electrameccanica (SOLO) - It looks like SOLO stock bottomed at $6 and I think we could go back up to test $12 price levels as the year closes. I’m LONG SOLO.
Jumia (JMIA) - I started buying Jumia stock this week and asked some friends who live in Africa if they like the website. They love it and say it’s the best online e-commerce site in Africa by far. Great selection and good prices. I’ll be adding more JMIA as the year closes.
Bitcoin Stocks - Don’t sleep on Bitcoin! I think I figured out why Bitcoin keeps going up. Bitcoin is scarce. Only 18 million coins available. Perhaps crypto could help redistribute wealth to more people better than fiat currency ever did. That means go things for bitcoin miners Marathon Patent Group (MARA) and Riot Blockchain (RIOT). Microstrategy (MSTR) is in play too.
Realty Income (O) - With more vaccine news, I’m looking at REIT stocks that will benefit from easing lockdown measures in 2021. More people will go to gyms, shopping malls, and mingle next year. After spending months on Zoom, I think people are really looking forward to spending time with friends and family next spring. I also like Simon Property Group (SPG) & Apple Realty (APLE).
Luckin Coffee (LKNCY) - Believe it or not, Luckin Coffee is up big this week after agreeing to settle with the SEC for accounting fraud. Luckin stock is currently trading at $7 on the OTC. It’s down from its crazy 52 week high of $51. If you like chinese stocks and lots of risk, give it a look.