Daily Stock Ideas – February 26, 2021
Today’s 5 Stock Ideas:
- Rocket Companies (RKT) – Shares were up 16% following Q4 results, news of a $1.11/share special dividend and a partnership with Morgan Stanley (MS) to originate and serve mortgages for its clients. Rocket CEO, Jay Farner, appeared on CNBC Friday morning and, among other things, highlighted the company’s sales will not be affected by rising interest rates.
- Northern Genesis Acquisition (NGA) – Named a top SPAC of 2021 by Benzinga reporter and SPAC expert, Chris Katje. Chris and his partner, Mitch Hoch, highlighted a list of top 10 SPACs for this year on Benzinga’s YouTube channel Thursday evening. Northern Genesis will merge with electric vehicle play, Lion Electric.
- General Motors (GM) – CEO Mary Barra recently said the chip shortage situation is “getting better” for GM. In a Wednesday interview, she also highlighted the potential of the company’s OnStar business.
- Ebang (EBON) – A crypto play. On Thursday, the company announced it will launch litecoin and dogecoin mining operations.
- Lixte Biotech (LIXT) – Friday morning’s biggest winner. The stock was up more than 100% on no news.