Daily Stock Ideas – February 8, 2021
Today’s 5 Stock Ideas:
- The9 (NCTY) – A play on cryptocurreny and bitcoin. Bitcoin rallied nearly 8% Monday morning following a report Tesla (TSLA) invested $1.5 billion in bitcoin last year and expects to begin accepting bitcoin as a form of payment in the near future. Last week, The9 reported a deal for the purchase of 5,000 WhatsMiner bitcoin mining machines.
- Twitter (TWTR) – Will report Q4 earnings after market close on Tuesday. Analysts expect earnings of $0.31 per share on sales of just under $1.2 billion.
- Reinvent Technology Partners Z (RTPZ) – Shares of Reinvent Technology Partners (RTP) rallied 13% just after the close on Friday following a report RTP is in talks to merge with insurance technology startup, Hippo. While RTP is the third special purpose acquisition corporation (SPAC) sponsored by investors Reid Hoffman and Mark Pincus, Reinvent Technology Partners Z is the second SPAC Hoffman and Pincus got behind. RTPZ could see added interest this week amid the RTP deal.
- Regeneron Pharma (REGN) – The FDA will rule on the company’s Biologics License Application for evinacumab on Thursday. The candidate is a treatment for homozygous familial hypercholesterolemia, an ultra-rare, inherited form of high cholesterol.
- Mattel (MAT) – Shares are indicated higher in pre-market trade following better-than-expected quarterly results out of peer Hasbro (HAS). Mattel will report Q4 earnings on Tuesday after close of the stock market.