Daily Stock Ideas – November 3, 2021
Today’s 5 Stock Ideas:
- Ocugen (OCGN) – Shares were up about 5% ahead of the open following confirmation from the World Health Organization the company’s COVID-19 vaccine partner, Bharat Biotech, won emergency use listing for its COVAXIN.
- Automatic Data Processing (ADP) – The company reported strong payroll data for the month of October: 571,000 jobs added vs an economist estimate for 400,000 jobs added. Despite the better-than-expected jobs data, stocks were unaffected.
- Bed Bath & Beyond (BBBY) – The stock was up 50+% Wednesday morning following a couple news items Tuesday evening. Bed Bath & Beyond announced a partnership with Kroger (KR) and also announced an accelerated timeline for its buyback plan.
- Koss Corporation (KOSS) – Shares were up about 3% ahead of the open amid momentum in popular retail investor stocks following the Bed Bath & Beyond news. Bed Bath & Beyond was viewed as a “meme stock” earlier in 2021. In addition to Koss, GameStop (GME), AMC Entertainment (AMC), Express (EXPR) and Naked Brands (NAKD) also saw momentum.
- Phunware (PHUN) – Company COO Randall Crowder will interview on Benzinga’s “Benzinga Live” YouTube show.