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Chris La - Monday, February 12, 2024
Three Hot
Stocks for Monday, Three to Avoid
Monday's Stock market will see three hot stocks continuing their bullish streak. Spotify added ~ 9% last week when it reported premium revenue grew by 16% Y/Y to EUR 3.67 billion. It increased its ARPU (premium average revenue per user) by 1% Y/Y to EUR 4.60.
Spotify forecasts Q1 total MAUs (monthly average users) of 618 million. Value investors should be wary of SPOT stock. It has no net profit yet commands a $46.98 billion market capitalization and a forward P/E of 63 times.
Palantir (PLTR), which gained 40% last week, may climb higher. The firm posted an 8-cent share profit, earning $608.35 million. Speculators ignored the weak Q1 guidance. Still, it expects full-year revenue of up to $2.66 billion. Look for markets to push the stock to $25.
Roblox (RBLX) needs to break out above $45 after the post-earnings reaction. Bulls expect the firm to use generative AI to create games.
Stocks to Sell
Snap (SNAP) is a troubled firm after losing over 30% post-earnings. The mixed-shelf stock offering is a red flag, as the company rewards upper management with stock compensation.
The Disney/Fox/Warner sports streaming service will break FuboTV (FUBO). Short interest on FUBO stock is 17%.
V.F. Corp. (VFC) is in trouble. Its strategic plan revision will not fix its revenue and profit declines. The weakening consumer economy will hurt demand for The North Face, Vans, Dickies, and Timberland.
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