Stocks in Play - November 18th 2024

TLDR Stocks in Play: TSLA, SMCI

Welcome to today's Stocks in Play report. Below are the key stocks to watch, along with brief Xray and Analysis. The main source of news I use each day is BenzingaPro. Check out their 2 Week Free Trial. Several other websites and services I use are linked at the bottom of the newsletter.

1) Tesla Inc. (TSLA)

Industry Group: Motor Vehicles, Market Cap: $1T, Float: 2.8b, Short Interest: 2.8%, Days to Cover: 2.8, Exchange: NASDAQ

Catalyst: Bloomberg reported that a top Trump priority is creating a framework for FSD and ease a path to it. This will be seen as bullish for TSLA. We’ve had a nice orderly pullback after the initial Trump election victory and FSD is a major bull case for TSLA followers. Sitting up 6%, just above $340 pre market, All time high of $420 is probably in reach before year end.

2) Super Micro Computer (SMCI)

Industry Group: Packaged Software Market Cap: $11b,  Float: 500m, Short Interest: 19%, Days to Cover: 1.6, Exchange: NASDAQ

Catalyst: Beleaguered SMCI must submit a plan for extension and filing by today in order to avoid delisting from the Nasdaq. The stock jumped AH on Friday after a Barron’s report that they were ready to submit the plan. I am assuming this will happen today and the stock could squeeze a lot depending on what the submission entails. Beware of binary risk before this occurs as the stock could move either direction rapidly. Also note negative NVDA news over weekend regarding overheating chips.

Honorable Mention to: HIMS - another very active stock have appointed former FDA Deputy Commissioner and a former Pfizer exec to join their board. EH - reported 300%+ YoY revs beating expectations, high short interest, low float, but Chinese so not one I’m concentrating on. VRT - Analyst Meeting Today. MARA - $700m Offering to Buy Bitcoin. Should be bearish but was Bullish for MSTR so wouldn’t be surprised to see recovery here -5% Pre Market.

Market Awareness

Lots of movers this morning are Trump headline related, some of which are vague or due to a person being connected with a stock. None of which are overly important apart from the FSD headline. I will treat all of these headlines as one day moves because they are just rumor or fluff. Market sold off last week, I think we can bounce today. Not certain it will be sustained especially with WMT, NVDA this week.

After Hours I’m Watching: SYM (Earnings)

Tomorrow Morning I’m Watching: WMT, LOW, VIK (Earnings), MSFT (keynote speech CEO Nadella at the Ignite conf @ 9am EST)

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.}