Welcome to a brand new week ball bags Monday is upon us, and that means it’s the start of the work week and the start of the weeks trading sessions, but most importantly you get entries from ME. Kicking it off right away we have Marvell opening last Monday at $40.56 per share, and closing last week Friday evening at $44.56 per share a plus $4.35 per share increase on the week, making me a nice profit on some trades. It was a steady rise throughout the week no big jumps or dips. My verdict: BUY.
Next on the docket we’ll take a look at Workhorse. Workhorse has been a favorite of mine just not for the passed two weeks. Almost identical to Marvell we saw Workhorse increase plus $4.18 per share on the week, but the journey was much different. Monday through Wednesday was a lot of nothing seeing as the stock price seemed to be stuck in place. Thursday saw the stock price flirting at a little over $25 per share, and Friday was the day Workhorse really took off to $26.75 per share on closing. The after hours market saw the stock price shoot up to $28.18 per share in an unexpected turn of events. I believe the retail market will jump at the chance to sell at this price resulting in a drop of the share price. My verdict: Sell.
At this point I know what you all are thinking, this guy is obsessed with EV stocks. I get the whole beating a dead horse analogy, but this isn’t a dead horse, the EV market is alive and well. In the event it does go down multiple points, it goes down slowly to stop the bleeding early if you want to pull out, bringing me to my next point. If you are already a shareholder and bought in cheap my verdict is to hold, because I believe NIO’s stock will rise slightly in the near future, and will rise greatly in the near to distant future. This past Tuesday I bought some option calls in NIO and was ecstatic seeing my call go into the money two times over. That day the retail market opened up at $20.06, and somehow I caught a dip at $18.98 it was beautiful. The next day(Wednesday) the retail market opened at a whopping $22.32, then peaked at $22.56, but declined from there very slowly to close at $21.21. It’s a lot, know. Thursday was a very quiet day as the market saw NIO open at $21.48 and steadily remain in that area until market closed at $21.76. As for Friday let’s just say, shit got lit!First, investors awoke to the news of President Trump testing positive for Coronavirus sending the stock market in to a downward spiral. Thankfully, nothing really happened to NIO they stayed within $21 throughout the day closing at $21.20 per share. With all that said I leave you for now.
My early investments into Nikola began very fruitful, then made a sharp 180. Damaging allegations made by short-seller Hindenburg Research derailed this electric vehicle(EV) company’s stock price for the worst. Fresh off of an announcement with General Motors to collaborate on a hydrogen powered pickup truck, Nikola gets hit with a scathing report shining a light on the owner/CEO’s overpromising to investors. EV shareholders in Nikola saw nothing but red and negative from mid to late September as the market price dropped from $50 per share to just over $19 per share. Until they can fix everything that’s going on with this nightmare fuel my verdict on Nikola is: stay away.
Take a look at chart below to see Nikola’s huge dip in less then a month to $19 per share.
There are many reasons why AMD is a buy and hold because, being that the gaming industry is seeing substantial growth quarter after quarter, due to the coronavirus pandemic. For starters, console makers Microsoft and Sony are at the forefront of an intense pre-order situation causing stock values to rise rapidly on both sides. In addition, Microsoft and Sony’s next-gen consoles use AMD’s RDNA 2 architecture which means we will see unprecedented consumer demand for these consoles to be manufactured before the holiday season by late October. Recently, AMD has been taking chunks from Intel’s market shares in areas like server processors and mobile processors. Lastly, we have the RDNA 2 and Zen 3 architectures both releasing in October(see photo below for dates). Be on the lookout for AMD when looking to invest into the video game industry.