Stocks in Play - November 15th 2024

TLDR Stocks in Play: PLTR, DESP

Welcome to today's Stocks in Play report. Below are the key stocks to watch, along with brief Xray and Analysis. My main source of news is BenzingaPro. Check out their 2 Week Free Trial. The other tools I use daily are listed at the bottom of the email.

1) Palantir (PLTR)

Industry Group: Packaged Software, Market Cap: $134b, Float: 2.0b, Short Interest: 4%, Days to Cover: 1.35, Exchange: NYSE

Catalyst: Palantir announced that they are switching their primary listing from NYSE to NASDAQ. This would allow them to be considered for Nasdaq 100 inclusion. Is this listing change a real catalyst? Not really but this stock is very active so I am willing to look at any news on it for potential one day plays. Today is also a particularly quiet news day in my opinion.

2) Despegar (DESP)

Industry Group: Consumer Services Market Cap: $990m,  Float: 44m, Short Interest: 13.5%, Days to Cover: 7, Exchange: NYSE

Catalyst: This company is a LATAM version of Expedia aimed at corporate and retail. Strong Results. Gross Bookings 35% YoY. Revs 53% YOY. Adjusted EBITDA 94% YOY. Loyalty Program Members 51% YoY. B2B Bookings increased 23% YoY. Renewed outsourcing Agreement with Expedia. Beat on Revs, Beat on EPS. Sitting right at top of what could be considered still it’s IPO (2018) Base.

Honorable Mention to: BABA - Average Results, strong Cloud Growth (AI) Triple Digit but other areas not so impressive. This doesn’t get full pick status for me because I am allergic to trading Chinese stocks but worth watching. HIMS - Had a big drop yesterday on rehashed news that Amazon were expanding Pharmacy services. The ‘‘Amazon is coming to get you’’ narrative is old at this stage. The targetted stock takes a big one day hit then recovers. For this reason HIMS probably worth monitoring. 13F - If you are on X you will have seen a slew of 13Fs posted last night. I rarely find that these make good trades but if you must know Warren Buffett bought DPZ & POOL!

Market Awareness

Nice gap down coming this morning. we are in a bull market so I am not overly fearful of it. Looking for the back half of the day for buyers to step in after selling the past few days. It is definitely a somewhat slow news day so I have no intention of going wild today. This has been a great two weeks for Stocks in Play and short term traders. No need to lose the head before big earnings next week with WMT, NVDA etc.

Sources & Services I Use in my Trading:

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

• 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)

• Notion - Research, Note Taking, Database Creation (Free)

_{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.}