Stocks in Play - January 7th 2025

TLDR Stocks in Play: FUBO, MU, UBER, ULTA, AUR

Welcome to today's Stocks in Play report. Below are the key stocks to watch, along with brief x-ray and analysis.

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1) FUBO TV (FUBO) (Rating: B+, Multi-Day )

Industry Group: Technology Services, Market Cap: $1.9b,  Float: 287m, Short Interest: 12.3%, Days to Cover: 1.7, Exchange: NYSE

Catalyst: Major Catalyst yesterday in the settling of Lawsuits with Disney and the news that Disney would take a 70% stake in the company. It moved 251%. This will be more of a tactical SIP for me today and I think it will give plenty of opportunities even as a Day 2 and after such a move yesterday.

2) Micron (MU) (Rating: B, Single-Day )

Industry Group: Technology Services, Market Cap: $114bb,  Float: 1.1b, Short Interest: 2.98%, Days to Cover: 1.7, Exchange: NASDAQ

Catalyst: Named as Key Supplier for new GPUs from NVDA. This was one of the more direct highlights from NVDA CEO presentation. Micron will be a key provider of memory for the GPUs. The stock had a big day yesterday but is neglected overall in recent times.

Honorable Mention to: NVDA Collaborations - Everyone is trying to be the best collaborators with NVDA this morning. UBER have a nice headline for a partnership with NVDA for Autonomous Vehicles, a sector which got a big push by Huang in his CES Address. Another getting a lot of attention and a pump this morning is AUR. They will partner with Continental and NVDA to expand autonomous Trucking. My only issue with AUR is the huge float, (Over 1b). ULTA - Modest increase in Guidance and some upgrades this morning.

Market Awareness

Cautious into the market today. We have some economic news at 10am which might cause a shake. We’ve had a nice bounce. If we’re going to chop more then around about here would be the time to do it. There is a lot of bullishness after NVDA Presentation last night. I’m just wondering if we may have a small sell the news event rather than going straight to all time highs. It would make some sense with FED tomorrow also for some choppiness. Tactical trades only today, not expecting home runs.

Note I missed FUBO yesterday, not because I didn’t see it but because I made a mistake in my interpretation of it for various reasons. I have, however added it to Top Picks January list.

After Hours I’m Watching: KRUS (Earnings)

Tomorrow Morning I’m Watching: ACI, AYI (Earnings)

Top Pick Watchlists:

• Top Picks - November 2024

  • LONG: ALAB, HNST, SNOW, ESTC, RKLB, SMTC, URBN, PLTR, GAP, TSLA, SE, RDDT

• Top Picks - December 2024 

  • LONG: CRDO, MRVL, OKTA, FIVE, RBRK, AVGO

• Top Picks - January 2025 

  • LONG: CEG,FUBO

Sources & Services I Use in my Trading:

• Finviz - Short Interest, Float, Articles, Fundamentals (Free)

• Benzinga Pro - News Source + News Squawk + Earnings Data (Paid)

• Tradingview - Charting & Scanning (Paid)

• Koyfin - Fundamental Data (Paid)

• EarningsWhispers - Earnings Calendar (Free)

• Tradersync - Trade Journal (Paid)

_{PS: There are many ways to trade stocks in play. It does not have to be the one that keeps going straight up and sometimes it doesn’t even have to be day one of the catalyst. Everyone must find a setup, timeframe and method that works for them. This list is supposed to educate on the criteria I use and the methods in which I find Stocks in Play. Yours may differ and that is completely okay.}