Updated: Jul 4
Stocks finished the week higher, capping the shortened July 1st holiday week. The second quarter also saw the Dow Jones having its best quarter on record since 1987, closing up 17.8%, with the TSX up 16%. Favorable jobs data came in as confirmed cases of COVID-19 reach record highs and some U.S. states begin to suspend or reverse reopening plans, in stark contrast to the downward trend in Canadian cases. It is clear that the better-than-expected economic news, coupled with the worsening pandemic, shows an economic recovery is taking shape but there is still some distance to go before the economy can pick up full steam.
Tesla Motors (TSLA) – What can’t be said about Tesla and Elon Musk? Another week. Another all time high. Temporary short for me going forward but would buy ANY significant pullback without hesitation. The vehicle of the future is present!
Boeing (BA) – Test flights looked to give this beleaguered stock a boost and boy did it ever do wonders. The 737 Max is back in the air which is a good sign for Boeing. If things go well they can ride this wave into the 3rd quarter!
Lululemon Athletica (LULU) – Just smart business decision after smart business decision. I believe their 500 million dollar deal with Mirror was a STEAL & will pay immense dividends going forward. All hail LULU the athleisure and soon to be at home workout kings!
Plug Power (PLUG) – This is a stock I actually started trading back in 2015. Love the potential for it’s expansion. Check out this alternative energy company as more companies and specifically car manufactures go green.
Beyond Meat (BYND) – They seem to actually have some decent management here. And I LOVE a good management team! Closing out a couple deals with china in the last few weeks saw a huge increase in attention of this literally beyond meat stock. I believe with a more health conscious world coming now, coupled with meat shortages will have long term beneficial effects on this budding company.
