Stocks in Play - November 19th 2024

TLDR Stocks in Play: WMT, SYM, CRYPTO, 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) Walmart (WMT)

Industry Group: Specialty Stores, Market Cap: $675b, Float: 4.3b, Short Interest: 0.8%, Days to Cover: 2.1, Exchange: NYSE

Catalyst: Revs grew 5.5% YoY Beating Estimates, Mgmt say they are gaining market share in higher income households, Int’l Revs up 8% (China, Latam), Gross Margins Exp (Important KPI), Operating Income up 8.2%. Solid EPS & Revs Guide Beat. Excellent Report with important GM Expansion that the market will like. Stock not neglected so I don’t expect massive move today but certainly a continuation of the trend.

2) Symbiotic (SYM)

Industry Group: Packaged Software Market Cap: $14.6b, Float: 133m, Short Interest: 34.5%, Days to Cover: 7.6, Exchange: NASDAQ

Catalyst: This company has a scammy history, which usually makes a great Stock in Play! Big Beat on Revs ($577m vs est $470m), Sales growing YOY Big EBITDA Beat, Guidance however is only average they are ahead on Revs Guidance but a big miss on EBITDA for next Q. Volume is not high pre market however with such a high short interest this has a good potential to offer opportunities today and potential multi day.

3) Crypto Stocks (COIN, MSTR,MARA,DJT)

Industry Group: Packaged Software Market Cap: $14.6b, Float: 133m, Short Interest: 34.5%, Days to Cover: 7.6, Exchange: NASDAQ

Catalyst: Lots of crypto related news in last 24hrs, DJT in talks to buy out BKKT (Crypto Trading Platform), MSTR Senior Note Offering to buy more Bitcoin, MARA offering yesterday, Bitcoin ETF Options will also begin trading next week on IBIT (Largest ETF). COIN CEO to have a private meeting with Trump. Which instrument you use is a personal choice I like MARA, RIOT usually but today DJT potentially squeezes. Personally I would avoid BKKT as it is the buyout target so the move is probably done on that (though it’s crypto so who knows…).

4) Super Micro Computer (SMCI)

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

Catalyst: Highlighted yesterday it had it’s move properly after hours having announced they have found a second tier Auditor and secured an extension from Nasdaq. This should offer opportunities today however I would think there is a risk that we have a sell the news event after a pop so I would be proceeding with caution.

Honorable Mention to: MSFT - Keynote Speech at Ignite conference from CEO Nadella at 9am EST today could be meaningful AS - Strong Earnings Beat, Gross Margin Expansion, Full Year Guidance Slight Beat. Analyst Meetings - AEIS, CTVA, QCOM

Market Awareness

Markets recovered after last nights worry regarding Russia saber rattling. I’m not expecting a huge about today with NVDA earnings tomorrow night being a major catalyst. Strong WMT earnings today are a plus for the market and will have been an important indicator for sophisticated investors. I am still in short term mode unless we see a strong catalyst for the market to continue upward.

After Hours I’m Watching: POWL (Earnings)

Tomorrow Morning I’m Watching: TJX, TGT, GLBE, WSM (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.}