Other than randomly getting banned from Stocktwits it was another action packed week in the markets. Nadaq recorded all time highs, broke 10,000 points, but came down a bit. Still sitting very pretty through this COVID-19 scare. The Fed finally told the truth yesterday about what they expect the stock market to look like going forward. This lead to a 1800+ point drop in the Dow Jones Index. Looks like reality may finally be catching up with the market. Sell in May and go away still?
Nikola Corp (NKLA) – Touted as “Tesla’s Competitor” Nikola corp made waves this week as it announced they will be taking reservations for their Badger Pickup Truck on June 29th. Keep an eye on this one as we are at the beginning of a new era of vehicle production.
Vroom Inc (VRM) – Vroom drove right into a 100% gain on Tuesday as demand for online vehicle sales is set to permanently change. With an opportunistic IPO date amid the COVID-19 outbreak, $VRM is taking full advantage of the times.
Immuron (IMRN) – This stock is the prime example of why one must do their homework. It was one of THREE stocks this week to succumb to the fabled pump and dump strategy. Going up 1000% on the day only to crash back down to earth as violently as it rose.
Chesapeake Energy (CHK) – See above…
Hertz Global (HTZ) – See above… Although I’d just like to add, this crooked company paid their top executives 16 million dollar before they filed for bankruptcy the next day. Should be heading to jail and taken off the market with those type of morals. Boeing (BA) – Looked set to run back to the mid $250.00 area until investors finally woke up. No surprise as we were just riding the wave. I believe many people are in profit taking mode now.
Fear Index (TVIX) – She’s back baby! Rising from the dead, we see the effects of what can happen when there is uncertainty in the markets. Some expect a quick bounce back from the end of the weeks brutal sell off but I wouldn’t be so sure. All aboard!
Zoom Communications (ZM) – Ah yes. What would this list be without $ZM. From the looks of it, if COVID-19 fears re-flare this stock could have no resistance to 300$. For the mean time I like it short.
