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D.R. Horton Stock Rises 3% On Earnings Beat Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Thursday, April 18, 2024
Thursday's Stocks to Buy
The sharp shakeout in the electric vehicle market threatens to spread to frothy sectors of the market. Tesla's (TSLA) led the market lower. After that, the stock exchange delisted Fisker, which triggered a debt repayment requirement.
Markets are bracing for Canoo (GOEV) and Nikola (NKLA) to delist next. Rivian (RIVN), which raised the most cash through an IPO instead of a SPAC structure, also has liquidity risks if sales do not improve.
Traders will buy TSLA stock for the next few days, ahead of its earnings report on May 7. CEO Elon Musk might even refute a Reuters report that the firm canceled its $25,000 affordable EV. Ahead of the report, the firm slashed over 10% of its workforce. At least two senior executives left the firm.
In the AI chip sector, ASML's weak sales and bookings in the first quarter created a buy zone for the stock. Traders did not punish ASML stock yesterday. Additionally, buyers may bet on Advanced Micro Devices (AMD) ending its steep downtrend that started in early March. AMD peaked at over $220. It fell nearly every day for the last two months.
After an upgrade boosted Super Computer Micro (SMCI), the stock needs more buyers to sustain a rebound.
Watch Taiwan Semiconductor (TSM) today. The firm will set the sentiment for AI chips after markets react to its quarterly earnings report.
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