Swing Trade Idea – June 17, 2022
Today’s 5 Stock Ideas:
- Snap (SNAP) – Shares traded up about 2% Friday morning following a report the company is internally testing “Snapchat Plus,” a paid subscription that will give users early access to new features and other abilities.
- Steel Dynamics (STLD) – A sympathy play in the steel space. Shares of Steel Dynamics were up about 2.5% following strong quarterly guidance out of peer in the steel space, US Steel (X).
- Bit Digital (BTBT) – A play on recently-declining bitcoin prices. Since the beginning of May, bitcoin is down about $18,000 to around the $20,000 level. Bit Digital is a bitcoin miner. While bitcoin has fallen around 47% over the last month, shares of Bit Digital have fallen about 43%.
- Nerdy (NRDY) – A play on recent insider buying. Nerdy CEO purchased more than 500,000 shares of company stock this week alone. Shares of Nerdy are up about 50% over the last month.
- Global Medical REIT (GMRE) – A play on a large dividend yield. With a quarterly dividend of $0.21 per share, the stock’s dividend yield comes out to nearly 8%.