I used yesterday’s green open to close out of my open long positions… and today I’m analyzing the exact same stocks Citigroup is analyzing as well.
consumer demand drives prices, revenue, and can largely impact the trade behavior of a company’s stock.
Today I’ve got my eyes on a stock with “unprecedented” demand…
|Ticker Code||Ticker Name||Ticker Industry||Price Change||Average Volume (50)*|
|RGR||Sturm Ruger & Company Inc||Aerospace & Defense||3.63%||486,535|
|SPOT||Spotify Technology SA||Internet Content & Information||1.96%||1,735,530|
|TNXP||Tonix Pharmaceuticals Holding Corp||Biotechnology||-3.17%||8,306,201|
|BTTR||Better Choice Company Inc||Beverages||-2.71||9,088|
|RILY||B. Riley Financial Inc||Financial Conglomerates||1.81%||137,079|
|CETX||Cemtrex Inc||Electronic Components||1.38%||11,086,876|
|GNUS||Genius Brands International Inc||Entertainment||-78.18%||82,877,677|
|ABEO||Abeona Therapeutics Inc||Biotechnology||7.35%||1,124,560|
|OLN||Olin Corporation||Specialty Chemicals||-7.14%||2,653,304|
|ZN||Zion Oil & Gas, Inc.||Oil & Gas E&P||15.15%||3,502,697|
|MDXG||MiMedx Group Inc||Surgical and medical instruments||1.98%||225,705|
|VSTO||Vista Outdoor Inc||Leisure||8.06%||1,792,124|
|GPOR||Gulfport Energy Corporation||Oil & Gas E&P||14.74%||4,878,652|
|GLMD||Galmed Pharmaceuticals Ltd||Biotechnology||2.59%||91,486|
|INO||Inovio Pharmaceuticals Inc||Biotechnology||14.53%||25,500,432|
|BA||Boeing Co||Aerospace & Defense||6.81%||45,677,678|
|SHIP||Seanergy Maritime Holdings Corp.||Marine Shipping||22.22%||94,039,475|
|BEBE||bebe stores, inc.||Women’s, Misses’, and Juniors Outerwear||-1.00%||6,865|
In light of recent global civil unrest reignited by police brutality in Minneapolis a couple of weeks ago, and more recently in Atlanta, some stocks have benefited as a result.
They’re not computer companies, cell phone companies, or automotive companies.
They’re gun companies… such as Sturm Ruger (NYSE: RGR).
According to analyst James Hardiman of Wedbush Financial, demand for guns has increased by an “unprecedented” amount as citizens have become fearful for their own safety, and therefore, are purchasing self-defense products and gear, including guns.
While RGR may distribute and sell 1,000 guns per month at a predetermined price, given a surge in demand for the company’s product, they can afford to do what most companies can’t in today’s economic climate – raise their prices.
This will increase their profit, revenue, and bottom lines which directly impact the price and performance of their stock (and consequently affect financial professional sentiment).
Coincidentally, the stock is now setting up for what could be a possible breakout as soon as today’s opening bell…
My technical analysis is suggesting that if RGR can trade above $73.89/share, it could run to the $80/share area. If this move takes place, I’ll be interested in making a bullish move.
Now it’s no secret that markets might feel a little top-heavy to many traders, and a possible pullback could be on the way. If that happens, it’s ok. If markets pull back and the stock does too, it has room to retreat to its 20-day simple moving average line, shown in green in the chart above.
If markets and the stock do make a green-to-red move, I’ll be interested in making a fast-moving bearish move.
And of course, I’ll be in touch with a midday position update & watchlist.
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.