tradingideas
Silver price has staged a strong comeback in the past few days as investors continued to buy the dip. It has risen in the past five days straight and the movement is gaining momentum. It jumped to $30.50 on Wednesday, its highest point since June 21st. Commodities are soaringSilver’s rally has also triggered a big movement in exchange-traded funds (ETF) that track the metal like the iShares Silver Trust (SLV), abrdn Physical Silver Shares (SIVR), and Global X Silver Miners ETF (SIL). The metal’s jump also coincided with the ongoing recovery of other commodities. Gold, the best-known precious m...
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On Wednesday, Piper Sandler included Qualcomm (NASDAQ: QCOM) as one of the stocks with the most extreme upside in Q2 2024, placing it among the top performers in their Portfolio Strategy report. Despite some broader market challenges, Qualcomm’s standout performance has been driven by a significant number of factors, suggesting robust growth potential. Q3 earnings outlookQualcomm’s upcoming Q3 2024 earnings report is eagerly anticipated, with an announcement date set for July 31, 2024. The market is looking forward to seeing if the company can meet or exceed the expected EPS of $1.79 and reven...
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Electric vehicle (EV) stocks have stabilised in the past few weeks as investors started to buy the dip after most of them crashed by double-digits this year. Therefore, an important development in the industry has led analysts to predict a comeback in some popular names. Tesla stock has surgedThe important news in the EV industry that could affect the likes of Lucid Group, Rivian, Polestar, and XPeng is the ongoing recovery of Tesla shares. Tesla jumped by almost 10% on Tuesday and reached its highest point since January 10th. It has now risen by over 66% from its lowest point this year, a spe...
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Mullen Automotive (NASDAQ: MULN) stock price continued its downtrend this year, making it one of the worst performers in the electric vehicle (EV) industry. MULN has tumbled by 83% this year as the S&P 500 and Nasdaq 100 indices have soared to their record highs. The company has also underperformed other American and Chinese EV companies like Rivian, Lucid, and Tesla. Short sellers are thrivingMullen Automotive’s collapse has hurt many investors who have hoped of a rebound. At the same time, it has benefited many short sellers since the company is one of the most shorted companies in Wall Stre...
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Nio (NYSE: NIO) stock price has crashed hard after peaking at almost $67 in 2021. It has plunged by over 51% this year, bringing its valuation to over $8.6 billion. Also, the stock has melted by more than 55% in the past 12 months. The EV industry woesNio’s downfall has happened in sync with other EV companies, which have pulled back sharply in the past few years. Tesla, the best-known EV brand in the world, has also dropped by over 50% from its all-time high. Other American EV companies like Lucid Group and Rivian have tumbled while Fisker filed bankruptcy in May. Nio’s stock crash has also c...
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BT Group (LON: BT.A) share price has staged a strong recovery this year as the company attracted the attention of two well-known billionaires. It jumped to a high of 145.85p in June, 43% above its lowest level this year. It is also hovering near its highest point since June 9th of last year. A contrarian buy by billionairesBT Group, the giant UK telecom company, has become a contrarian investment by two billionaires who believe that it is highly undervalued. Patrick Drahi, who has a net worth over $6.7 billion, has become one of the biggest investors in the company. He owns a 24.47% stake valu...
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The B. Riley Financial (NASDAQ: RILY) stock price has been one of the worst performers in the financial services industry this year. It has crashed by over 16.8% this year while the S&P 500 and Nasdaq 100 indices have jumped by more than 14% and are sitting at their all-time highs. Highly shorted and high dividend yieldB. Riley Financial shares have tumbled this year as concerns about the company continued. One of the biggest crises was its investment in Franchise Group, the parent company of Vitamin Shoppe, Pet Supplies Plus, American Freight, and Buddy’s Home Furnishings. The small investmen...
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The ProShares Ultra Bloomberg Natural Gas ETF (BOIL) crashed by almost 9% on Monday as the natural gas prices slipped. At the same time, the ProShares UltraShort Bloomberg Natural Gas ETF (KOLD) jumped by almost 9%. KOLD has soared by over 84% in the past 12 months while BOIL has crashed by almost 80%. Natural gas prices have crashedKOLD and BOIL ETFs have been in the spotlight in the past few years as the price of natural gas has slumped. It has crashed by more than 75% from its highest level in 2022 when Russia invaded Ukraine. Gas has crashed as the world has moved to an abundance as countr...
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Lloyds (LON: LLOY) share price has stalled in the past few weeks as investors focus on the upcoming UK election and Bank of England (BoE) interest rate decision. It was trading at 55.6p on Monday, down by almost 3% from its highest point this year. UK election aheadLloyds Bank, the parent company of Halifax, MBNA, Scottish Widows, and MBNA, has been one of the best-performing FTSE 100companies this year. Its stock has jumped by over 40% from its lowest point in 2023, joining other top-performing banks like NatWest and Barclays. Lloyds has done well because the UK economy has been more resilien...
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The Nikola (NASDAQ: NKLA) stock price continued its deep sell-off this week and moved to its all-time low as concerns about its business accelerated. It plunged to a low of $7.40 on Monday, bringing the year-to-date losses to almost 72%. It has dropped by almost 98% in the past five years, bringing its market cap from almost $30 billion to $370 million today. Can Nikola survive?The trucking industry is one of the most important one globally since it facilitates all types of trading. It is also a highly consolidated industry that is dominated by companies like Daimler Trucks, Iveco, and PACCAR....
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