Swing Trade Idea – June 28, 2022
Today’s 5 Stock Ideas:
- Weibo (WB) – In what might be the news of the day Tuesday, Chinese officials eased COVID-related lockdowns. Chinese indices traded up about a percent and a half amid the news, also pushing higher U.S. futures. Weibo shares traded up 1.5% in pre-market action. The company is often times considered “the Twitter of China.”
- Robinhood (HOOD) – Shares spiked higher Monday following a Bloomberg report crypto exchange FTX could be moving closer to a takeover of Robinhood. A similar rumor was heard at the beginning of June. FTX founder Sam Bankman-Fried commented to Reuters following the report and said there are currently no active M&A discussions between FTX and Robinhood. Despite the comment from Bankman-Fried, Robinhood shares were up 14% in pre-market action Tuesday.
- Bakkt (BKKT) – Company CEO, Gavin Michael, will interview on Benzinga’s “Stock Market Movers with Money Mitch” Thursday at 1:45 p.m. EDT. Check Benzinga’s YouTube channel to tune into the interview.
- Helios Technologies (HLIO) – A peer play following news out of Enerpac (EPAC) of a quarterly miss and lowered guidance. While shares of Enerpac were down about 5% in pre-market action Tuesday, Helios shares traded down only about 1%.
- Evofem Biosciences (EVFM) – A stock discussed in Benzinga Pro’s chat Tuesday morning. Continuing a rally Monday, Evofem shares were up another 22% Tuesday following news the company reached a deal with an unnamed pharmacy benefit manager (PBM) to ensure most women covered by the PBM’s plan can fill their Phexxi prescriptions.