8 Stocks I'm Trading Amid an Extended Market
As we're digesting the CPI data and market's moves, I'm looking to protect recent gains. Here's an update on a number of names.
You're reading 0 of 1 free page.
Register to read more or Unlock Pro — 50% Off Ends Soon
There is some follow-through momentum on Tuesday morning, but it is concentrated primarily in the Magnificent Seven MAGS names. Nvidia NVDA and Amazon AMZN are leading, but breadth is about 5,800 gainers to 3,600 decliners, and the Dow Jones is slightly in the red.
The consumer price index ticked higher but not as much as was feared, which is helping to give the action a boost, but bonds TLT are trading lower, and interest rates are rising. There is still fear of increased inflation due to tariffs, but there is also increased optimism about economic growth, which is also inflationary.
Technically, things are becoming more extended, and that is making it tough to put money to work. When that happens, the big institutional buyers always come back to chasing their Magnificent Seven names. The logic is that they can’t be blamed for adding more of these names, which are trying to regain their leadership role. Institutional buyers are more concerned about putting money to work as opposed to finding the best entry points.
💵💰 Everyone’s guessing — our experts aren’t. Get the real playbook for Investing in Uncertain Times at TheStreet Pro’s exclusive Quarterly Meeting on May 14th, 2025 at 12PM ET. (Don’t miss it) 💵💰
My primary mission right now is to protect recent gains, which have been sizable, while being selective with new buys. I am tightening up some stop-out levels and am very closely watching names I want to buy on weakness.
Here is an update on a number of names that I’ve been trading:
AST Spacemobile ASTS is jumping around following its earnings report. It modified its ATM, which is likely causing a little selling pressure. There should be some news flow coming soon, and I’ll be adding on deeper pullbacks.
Clearpoint Neuro CLPT has earnings due after the close on Tuesday night. It is a beneficiary of an increased focus on delivering drugs to the brain and spine. It trades very thin, but I’ll be looking for positive guidance to increase interest.
Core Scientific CORZ, CoreWeave CRWV, and Nebius Group (NBIS), the data center group, were hit hard on concerns about AI spending, but have recovered well and are gaining momentum. I’m looking for entry points on these names on pullbacks.
Gambling.com GAMB, which I highlighted after its last earnings report due to its attractive valuation, is trading up into its next report. That's due on May 15. It is still a cheap stock with a trailing price-to-earnings of 14.
Humacyte HUMA. Humacyte has been hit with numerous landmines, but it looks like the worst is finally over. It posted the first revenue of its recently approved Symvess artificial vein product. The company put into place a cost-cutting program and is reporting good progress in sales and marketing. The company had a surprise eps of $0.28 and has roughly 25% of trauma centers in the U.S. evaluating its product. I’ll be trading this much more aggressively from here.
Universal Technical Institute UTI is trading sharply lower on Tuesday following an "at the market" sale of a 1.9 million share block at $33.30. The company had a great quarter with 13% revenue growth and 50% earnings per share growth. It is expected to grow by 39% in 2025. I’ll be looking to add to my position as it fills the earnings gap down to $30.
Those are a sampling of names I’m watching, but there are many more, and I’m looking to add some new names to my watch list as well.
At the time of publication, DePorre was long UTI, HUMA, ASTS, CLPT, CORZ, CRWV, NBIS, GAMB.
