Daily Stock Ideas – January 15, 2021
Today’s 5 Stock Ideas:
- Financial Select Sector SPDR ETF (XLF) – This ETF was down about 1% ahead of the open following earnings beats out of JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C).
- Palantir Technologies (PLTR) – Shares were up 5% Friday morning following news ARK Invest’s Cathie Wood purchased about 500,000 more shares of the company.
- Driven Brands (DRVN) – An IPO for Friday. The company is the largest auto services company in North America. Its brands include Maaco, Meineke, Carstar and Take 5. Expect shares to open after 11 a.m. EST.
- GameStop (GME) – The stock pulled back from over the $40 level Friday as traders took profit. GameStop shares have more than doubled over the last two trading sessions. Traders on Reddit’s Wall Street Bets forum called GameStop “the stock of the year.”
- BlackBerry (BB) – Shares rallied more than 20% on Thursday and were up another 20% in pre-market activity Friday. While there was news this week the company sold 90 patents to Huawei, this news was out before the rally started Thursday. Considering the timing, it appears BlackBerry may be moving on a more favorable technical picture. Shares broke through resistance levels at $8, $9 and $10.