Trade Desk Stock Is Too Expensive, Wait for Correction
Trade Desk stock price is down significantly from its all-time high of $970 amid investors profit taking strategy. Despite that, the shares of the digital advertising technology company look significantly overvalued due to the rally of 186% in the last twelve months, pushing the price to earnings ratio to 174 times.
Palantir Stock Selloff is a Buying Opportunity
Palantir stock price lost more than 25% of its value in the past five days alone as investors reacted to a surprise loss in the fourth quarter. Prior to the latest selloff, shares of the software platform rallied more than 250% in the last twelve months, thanks to robust growth in sales.
Gold Down, But One Safe Asset is Rallying
Gold price, which jumped above $2000 an ounce a few months ago and rallied almost 22% in 2020, is now out of demand as investors moved their focus towards risker assets, including stock markets. The price of gold fell close to 6% so far this year with expectations for more drop in the days ahead.
Shutterstock: The Less Know Stock With Strong Momentum
Shutterstock (NYSE: SSTK) share price has outperformed the broader market index last year and the shares are accelerating the gains since the beginning of this year, driven by trader’s confidence in revenue growth and earnings surprises. Moreover, bullish forecasts for the small-cap valued at $3.2 billion are adding to investor's sentiments.
Go Long with ConocoPhillips on Popping Oil Price
The largest US-based exploration and production giant ConocoPhillips (NYSE: COP) could be the best stock pick if you seek to take advantage of increasing oil prices. This is because COP has the lowest breakeven level while the sharp growth in prices would help the company to post big profits in 2021 along with offering hefty dividends.
Reddit Driven Cannabis Stocks Rally Ends in Profit Taking
Reddit-driven cannabis stocks rally ended last week in the most expected way because investors rush to capitalize on massive gains by selling their positions. This is exactly what happens with retail stocks a few weeks ago when Reddit day traders pushed GameStop (NYSE: GME) and other stocks thousands of times higher in a couple of days and then these stocks nosedived after investors started taking profits.
Tesla Will Accept Bitcoin, Price Tops $44.5K
Tesla (NASDAQ: TSLA) founder Elon Musk, who frequently talks about bitcoin, will accept bitcoin as a legal form payment for Tesla products in the near future, disclosed it invested $1.5 billion in the largest digital currency. Tesla ended 2020 with $19 billion in cash and cash equivalents.
Cannabis Stocks Popping on US legalization, Rosy Outlook
North American cannabis index, which tracks the performance of top US and Canadian cannabis stocks, surged to the highest level in the last eighteen months – driven purely by strengthening fundamentals and aggressive M&A activities in the emerging sector.