Daily Trade Ideas – February 24, 2022
Market Ideas:
- Vanguard FTSE Europe ETF (VGK) – An exchange-traded fund (ETF) play on the aggression by Russia into the Ukraine. Similar to the VanEck Russia ETF (RSX), this ETF is an effective way for traders to play developments in eastern Europe and Russia.
- Baidu (BIDU) – A sympathy play following quarterly results out of another Chinese mega-cap company, Alibaba (BABA). Sympathy plays are known to move in correlation. While Alibaba shares were down about 5% with the broader market, Baidu shares were down about 3% on light volume.
- Troika Media Group (TRKA) – News from the company out exclusively on Benzinga Pro earlier this morning. Troika reported the purchase of Converge Direct LLC for $125 million. To see other market-moving exclusive headlines from the Benzinga Pro team of breaking-news reporters, filter your Benzinga Pro Newsfeed by the “Market-Moving Exclusives” news category.
- Hyperfine (HYPR) – A play on magnetic resonance imaging (MRI) technology. Shares of this low-volume stock spiked higher Wednesday as traders viewed the stock as a play following reports of a mention by Facebook/Meta’s Mark Zuckerberg of MRI imaging technology related to the metaverse.
- Houston American Energy (HUSA) – A play on extreme momentum in low market cap energy/petroleum companies. Other stocks trading in this group include Indonesia Energy (INDO), Imperial Petroleum (IMPP) and Camber Energy (CEI).