Daily Stock Ideas – December 22, 2020
Today’s 5 Stock Ideas:
- Peloton (PTON) – Shares were up 11% ahead of the open following Monday evening news the company will purchase Precor for about $420 million. A KeyBanc analyst Tuesday morning called the deal “highly synergistic” and “supportive of long-term growth.”
- Newborn Acquisition Corp. (NBAC) – An electric vehicle play. This special purpose acquisition corp (SPAC) is expected to merge with Nuvve, a maker of a bidirectional electric vehicle charging system for vehicle-to-grid applications.
- fuboTV (FUBO) – Needham analyst, Laura Martin, raised her price target on fuboTV shares from $30 to $60. The analyst cited six catalysts: “a) taking share from competitors; b) its Hisense partnership lowers SAC; c) upside from sports betting; d) OTT multiple expansion; e) short covering; and, f) CTV upside.”
- Lordstown Motors (RIDE) – The company late Monday reported it received 80,000 non-binding reservations for its Endurance truck.
- Aemetis (AMTX) – The stock was up nearly 60% Tuesday morning following news the company purchased a 20% stake in zero-emission heavy duty truck producer, Nevo Motors. Note: Aemetis will likely be viewed as a “low-float” play, with about 17 million shares in its float.
Coming straight from Benzinga’s team of researchers and reporters, the stocks above have all the signs of a great opportunity.
That means at least one excellent catalyst has already, or will eventually, drive price change.