Updates On 13 Stock Picks as Investors Try to Put Cash to Work
Here are updates on more than a dozen names I've been trading.
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The market is holding up well on Tuesday morning, with breadth running more than two-to-one positive and relative strength in the Russell 2000 IWM, which is up about 0.9%. The DJIA is flat, and the S&P 500 is up about 0.25%.
The positive price action has investors trying to put more cash to work, but there is an important CPI report on Wednesday, and entries are challenging with so many extended charts.
I’ve not found many new buys lately and have taken some profits, so my cash levels have increased. Here are some updates on stocks that I’ve been trading.
ADMA Biologics ADMA has consolidated and moved back over its 50-day simple moving average. I am making some small additions and expect further upside into the next earnings report. It has solid growth, but momentum cooled, and it has to regroup.
AST SpaceMobile ASTS has blasted off. I reduced on Monday as I expect concerns about competition with Elon Musk to gain some traction again, but this is a buy on pullbacks. This is a stock that is starting to be recognized as a long-term growth play.
BridgeBio BBIO has recovered very nicely after an unjustified selloff on its last earnings report. This is a commercial-stage biotech name that is likely to post some strong growth next quarter.
Core Scientific CORZ, CoreWeave CRWV, Nebius Group (NBIS): Data centers have been very hot again, and I’ve taken some profits while waiting for pullbacks.
Emergent BioSolutions EBS is a sleeper that had a sizable recent insider buy from the CEO. I’m waiting for some signs that the value here is being recognized. It has little coverage and is largely unknown.
EToro (ETOR) went parabolic after I discussed it on Monday and is now correcting. I made a partial sale and will now look for a remount.
Humacyte HUMA is finally back on track and is improving. It has some solid support now, around $2.50, but it needs some preliminary sales data to create more interest.
Ishares Bitcoin Trust IBIT: This Bitcoin ETF is looking good and is close to testing highs. It may need some consolidation to set up the next leg higher. This is a longer-term hold.
Mereo BioPharma MREO is a small biotech name looking technically attractive as it awaits key data.
UniQure QURE: This biotech was hit hard by concerns about changes at the FDA that impacted gene therapy but has regained a positive view and is developing well. It has tremendous upside on good data.
Xeris XERS had a very strong investor conference with huge future potential, but the lack of near-term developments is keeping buyers on the sidelines. I expect to see a recovery into the next earnings report.
If there are other names that you are interested in discussing, please let me know.
At the time of publication, DePorre was long ADMA, ASTS, BBIO, CORZ, EBS, HUMA, IBIT, MREO, QURE and XERS.
