Daily Stock Ideas – October 22, 2021
Today’s 5 Stock Ideas:
- Facebook (FB) – Will report quarterly results on Monday, Oct. 25 after market close. Analysts expect earnings of $3.17 per share on sales of about $29.5 billion.
- Cinemark (CNK) -A play on an expected strong weekend at US box offices. Director Denis Villeneuve’s long-anticipated “Dune” was released Thursday evening.
- Phunware (PHUN) – Friday’s momentum du-jour play. The stock was up nearly 300% in pre-market action. Traders called the stock a sympathy move with Digital World Acquisition Corp. (DWAC) which recently announced it would do a special purpose acquisition corporation (SPAC) deal with Trump Media. Phunware shares closed Thursday’s session up about 46% as traders circulated a May 2020 press release that highlighted a partnership between Phunware and Trump Media.
- Seaport Global Acquisition Corp. (SGAM) – Chris Katje, Benzinga reporter and co host of Benzinga’s “SPACs Attack” YouTube show, Thursday afternoon said Seaport Global Acquisition Corp. shares would be a stock to watch for Friday. Katje noted nearly 13 million shares of SGAM were redeemed related to the company’s SPAC deal with Redbox.
- Creatd (CRTD) – Another momentum play for Friday. Creatd is a technology company focused on developing digital communities via social media and e-commerce. Some traders viewed this stock as a sympathy play amid the momentum in Digital World Acquisition Corp. and Phunware