I hope you had a fantastic 4th of July weekend celebrating the greatest country in the world – I know I certainly did.
And what a first half to the year we just had.
The markets closed out last week firmly in the green, and the S&P 500 and Nasdaq is now up over 16% and 33%, respectively.
To top it off, the shortened trading day on Monday continued this positive momentum, with all indexes closing higher.
And this was despite the Fed sticking to the narrative that more rate hikes were likely on the horizon this year.
To me, this is a great sign for the markets.
If you just buy and hold the index, you’ll probably do fine.
But I know you want to do more than just fine.
That’s why you’re here.
And that’s why I’m going to give you the names of three stocks I believe have a good chance of surging over the next few days (something I normally do on Mondays, FYI).
As always, keep in mind that these are fast momentum plays – so adjust your risk and position size accordingly.
Palantir Technologies Inc. (PLTR)
After more than doubling in 2023, Palantir’s stock is taking a (significant) breather – having pulled back by nearly 17% over the past week. That pullback was not just because of the general market. The stock was also downgraded by Raymond James from Strong Buy to Outperform, which also impacted the price.
Despite all this, the AI catalyst remains strong. The company has recently rolled out a military AI platform that its CEO says is seeing “unprecedented demand”. It’s expanded into healthcare via a multi-year partnership with Cleveland Clinic. And on top of that, Palantir has also recently hit profitability.
Combine all that, and you might want to consider taking advantage of the pullback in Palantir stock.
Tesla, Inc. (TSLA)
Tesla stock has also more than doubled this year – exhibiting some serious momentum as it goes back to where it was a year ago. Over the past week, this stock has retraced by less than 1%, which is much lower than the broader market. This is a great sign that shows it wants to go up.
Plus,the stock is still nearly 40% down from its all-time highs. And with its robo taxis potentially hitting the streets this year, that could be another major catalyst to its stock. In fact, some analysts predict that robot taxis could add over $150 billion to the company’s market cap.
Opera Limited (OPRA)
Developer of the sixth most popular browser in the world, you would think Opera was merely a tiny company not worth paying attention to. But its stock has some of the strongest momentum I’ve seen – nearly tripling this year.
And if it wasn’t for the stock pulling back by 21% last week, it would now be sitting at all-time highs (contrary to many tech stocks). That’s why now may be a good time to strike. Plus, the stock is not only riding the AI tailwinds thanks to the recent launch of a ChatGPT-integrated browser, the company is actually profitable and it’s also just announced a semiannual dividend. To me, that shows confidence.
To your wealth,
Felix @ Ace of Investing
