Daily Stock Ideas – February 2, 2021
Today’s 5 Stock Ideas:
- Churchill Capital (CCIV) – One of the most-discussed stocks in the Benzinga Pro chat Monday evening. The stock had rallied as much as 19% by Tuesday morning — seemingly on no news. This special purchase acquisition corporation (SPAC) has been rumored to merge with electric vehicle company Lucid Motors.
- Sundial Growers (SNDL) – The company announced a $74.5 million offering of shares and warrants. Shares were down about 14% ahead of the opening bell.
- Cognyte Software (CGNT) – Will begin trading Tuesday after being spun off from Verint (VRNT). Cognyte is a security analytics software provider.
- Jaws Mustang Acquisition Corp. (JWSMU) – A SPAC IPO expected for Tuesday morning. This is the third SPAC company from Starwood Capital’s Barry Sternlicht.
- Forward Air Industries (FORD) – In a seeming case of mistaken identity, shares of Forward Air, ticker “FORD,” spiked sharply higher following a mid-day press release from auto manufacturer Ford (F).Ford announced it will accelerate development of its connected vehicle experience with Google (GOOGL). Shares of Forward Air closed up nearly 25% on Monday.