Swing Trade Idea – May 18, 2022
Today’s 5 Stock Ideas:
- Target (TGT) – Shares were down 25% following mixed Q1 results. Target management noted the company’s 5.3% operating margin “was well below expectations.” The stock was the third most-mentioned ticker on Reddit’s WallStreetBets Wednesday morning, according to SwaggyStocks.
- National CineMedia (NCMI) – The stock was up 20% following Tuesday evening news AMC Entertainment (AMC) took a 6.8% stake in the theatre chain.
- Genius Brands (GNUS) – Shares were up about 40% to near the $1 level following news of a 20-year deal with Disney’s (DIS) Marvel Studios for use of the name and likeness of famed comic book writer and Spider-Man co creator, Stan Lee.
- Digital World Acquisition Corp. (DWAC) – The stock saw a spike in volume and volatility Tuesday following trader circulation of word social media platform, Truth Social, operated by Digital World’s special purpose acquisition corporation (SPAC) merger partner, Trump Media Group, was now available on Android devices. While Truth’s official website still showed the Android download as “coming soon,” Digital World recently filed a proxy statement with the expectation that Truth Social will be available on Android sometime in Q2 of this year.
- SiriusPoint (SPNT) – Notable investor from Third Point, Dan Loeb, was named to the company’s Board Tuesday afternoon. Shortly after this news, Loeb filed a 13D filing with the SEC which showed the money manager had a 9.35% active stake in SiriusPoint.