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    Avoid These Overhyped Tech Stocks In Q2

    By
    Editorial Staff
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    0

    Tech stocks have come roaring back in 2023. But after the stunning rebound, some tech names have little room to run. In addition to industry-specific concerns, the technology sector faces headwinds from rising interest rates and a central bank that hasn’t finished its fight against inflation. As such, now seems like a good time to lock in gains on certain tech stocks that have rallied sharply this year.  

    Now more than ever, it’s crucial to be selective with your investments and avoid the tech stocks that look vulnerable. Our expert team has analyzed the market and identified specific tech stocks that should be cautiously approached. In particular, these three tech stocks look especially risky and may see severe downside in the coming days and weeks. Don’t let the recent tech sector rebound lure you into making hasty investment decisions. Instead, use our watchlist to make informed choices and avoid the tech stocks that could pose a threat to your precious long-term returns.

    SoFi Technologies (SOFI)

    SOFI has stacked on 35% in 2023, but the rebound may be fleeting. Shares have already started to fall back toward pre-earnings price levels. In the months ahead, if current economic challenges worsen if further challenges arise regarding student loans, the impact on revenue could place additional pressure on the stock.

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    Uber Technologies (UBER)

    Uber shares surged higher immediately following its Feb. 8 earnings call. The ride-share giant reported strong numbers, and management provided an upbeat outlook for the current quarter. However, the stock has already given back some of those gains amid recession concerns. UBER’s current valuation may be overly optimistic about subsequent quarterly results. Another big run may not be in store for the ticker anytime soon.

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    Bigbear.ai Holdings (BBAI) 

    In 2023, BBAI stock is up a startling 329%, with shares advancing from penny stock territory to more than $3/share today. But the current hype cycle around consumer AI products isn’t likely to move the needle for Bigbear.Ai’s business, considering that it’s far from a consumer-facing product like ChatGPT. The company has historically struggled to reach profitability from its operations, and the stock’s recent run seems dramatically overblown.

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    Weekly Radar: Our Top Picks for The Coming Week

    By
    Editorial Staff
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    0

    Stocks traded in a narrow range for the second week in a row ending the week slightly higher, as investors weighed slowing growth signals against signs that inflation pressures were receding a bit more than expected. The S&P 500 and the Dow both added around 1% to record their fourth positive week out of the past five, and the Nasdaq generated a fractional gain.

    As earnings season moves into full gear next week, some of the world’s largest companies, including Lockheed Martin, Tesla, Johnson & Johnson, American Express, and Procter & Gamble, are set to report earnings. Although the four major U.S. banks that reported first-quarter results on Friday posted earnings gains relative to the same period last year, analysts are forecasting an average decline of 6.5% in earnings for the S&P 500 companies, which would be the most significant earnings decline since the second quarter of 2020, according to FactSet.

    Despite recent market gains, the path forward in the near term may be challenging, especially as the economy weakens and potentially enters a mild recession. However, long-term investors can take heart as opportunities may arise in the coming months, particularly as markets begin to look past the slowdown towards a recovery period. Read on for our weekly stock picks and analysis to help guide your investment strategy.

    Our first recommendation is not only a solid cybersecurity play but also a logical choice for anyone looking to ride the AI wave. 

    CrowdStrike (CRWD)

    With its Falcon platform leveraging AI and machine learning to provide real-time threat detection and response, CrowdStrike is well-positioned to benefit from the growing demand for advanced cybersecurity solutions. This company’s innovative technology and strong growth potential make it a compelling investment opportunity for investors looking to capitalize on the increasing importance of cybersecurity in today’s digital landscape.

    Despite experiencing a significant drop in value in 2022, CRWD has rebounded strongly this year, with a 32% increase in its stock price. The positive sentiment from 33 out of 37 analysts who offer an optimistic view of the stock, along with the consensus Strong Buy assessment, further supports the potential of CRWD as an investment. The average price target of $165, which suggests significant upside potential of over 22%, adds to the stock’s attractiveness.

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    CRISPR Therapeutics (CRSP)

    CRISPR Therapeutics is a leading gene editing company on the brink of commercializing the first-ever CRISPR gene therapy this year. The therapy will act as a functional cure for sickle cell disease and beta-thalassemia, with a high probability of success. As such, the risk/reward scenario for the stock is attractive, considering the potential for a transformational year ahead.

    On April 3, the company announced that it had completed the rolling biologics license applications (BLAs) to the Food and Drug Administration (FDA). The BLAs seek to gain approval for the investigational treatment exagamglogene autotemcel in order to treat sickle cell disease and transfusion-dependent beta-thalassemia.

    CRSP is up 23% year to date and has an average price target of $84.19 among all 26 analysts with coverage of the stock. That implies an upside of about 67%. Shares rose this week by about 12% as a result of a more than 60,000 share purchase by Cathie Wood’s ARK Invest.

    As borrowing costs increase due to the Fed’s tight monetary policy, many investors are turning to gold as a haven asset. And with global political conflicts on the rise, there’s no doubt that gold will continue to be an attractive option for risk-averse investors.

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    Sandstorm Gold Ltd (SAND)

    SAND is a gold royalty company that provides upfront financing to gold mining companies in exchange for a percentage of the future production of gold. The company’s unique business model provides investors with exposure to gold prices without the risks and costs associated with traditional mining operations.

    Recent financial results have been impressive, with strong revenue growth and improved margins. Additionally, the company’s balance sheet is solid, with a healthy cash position and no long-term debt.

    Technically, SAND shows bullish signals on the charts, with a 19% gain over the past month. The Relative Strength Index (RSI) is also in bullish territory, indicating that the stock has momentum on its side.

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    Three Stocks to Avoid or Sell Next Week

    By
    Editorial Staff
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    0

    Seeking out great stocks to buy is important, but identifying quality investments is only half the battle. Many would say it’s just as essential for investors to know which stocks to steer clear of. A losing stock can eat away at your precious long-term returns. By taking a proactive approach to avoiding losing stocks, you can set yourself up for greater success in your investing journey.

    Even the best gardens need pruning and our team has spotted a few stocks that seem like prime candidates for selling or avoiding. Read on to find out why we believe these particular stocks are poor investment choices and learn how to apply our analysis to your own portfolio management strategy…

    Black Hills Corporation (BKH)

    Natural gas producer Black Hills Corporation reset its growth outlook lower after reporting disappointing Q4 results, slashing its 2023 EPS view to $3.65-$3.85 from $4.00-$4.20. The revision was driven by a rapid shift in macroeconomic factors, including elevated natural gas price volatility and higher natural gas demand driven by winter storm Elliot in December 2022. With elevated natural gas price volatility, higher interest rates, and general inflationary pressures forecasted through 2024, Black Hills is only expected to grow earnings by 1% in 2023, 2% in 2024, and 4% in 2025.

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    Summit Materials (SUM)

    Summit Materials has struggled to show consistent growth since its 2015 initial public offering. Over the last eight years, the vast majority of the company’s growth has come from acquisitions, with only 2.9% of its growth coming from organic revenue expansion. Between 2015 and 2022, the company spent more than $1 billion buying other construction material companies, taking on debt to do so. This strategy has weighed on Summit Materials’ balance sheet and share price.

    Unfortunately, construction materials isn’t a great business to be in, especially with your average U.S. mortgage rate now above 6% in a cooling market. Investors would be wise to steer clear of this homebuilder stock.

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    Funko Inc. (FNKO) 

    Last month, pop culture consumer products company Funko, Inc. announced a set of leadership changes, including a C-suite management shakeup, a COO role creation, and the introduction of an execution consultant following several missteps over the last two quarters. The changeover in management could take several quarters to reset and could present challenges in building investor confidence. FNKO shares currently trade at a premium to its historical averages and near the high end of its relative valuation range versus the S&P 500. The stock’s rich valuation seems unwarranted, considering the high degree of execution risk.

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    Three Promising Biotech Stocks to Watch for High-Growth in 2023

    By
    Editorial Staff
    -
    0

    Biotech, defined as using technology to change, manipulate, and harness biological processes to fulfill a medical need, has vast and diverse applications ranging from genetically modifying foods to creating vaccines. Despite being a relatively new industry, biotech has rapidly evolved into one of healthcare’s most innovative and important sectors. Generally speaking, biotech stocks offer investors an excellent opportunity for significant upside success. Grand View Research reports that the global market size for the industry was $1.02 trillion in 2021, and it is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2022 to 2030, reaching $3.88 trillion by the end of the forecasted period.

    While biotech stocks saw a dip earlier this year due to market uncertainties, the sector is once again regaining popularity as investors seek out growth opportunities. With renewed optimism in the market, there’s no better time to explore the potential of investing in biotech.

    In this watchlist, we focus on highlighting three biotech stocks that, for various reasons, offer a compelling narrative for investors. Although the sector can be volatile, careful analysis of the biotech industry can help investors find promising opportunities. So, let’s take a closer look at some of the most exciting and promising biotech stocks to buy.

    CRISPR Therapeutics (CRSP)

    CRISPR Therapeutics is a leading gene editing company on the brink of commercializing the first-ever CRISPR gene therapy this year. The therapy will act as a functional cure for sickle cell disease and beta-thalassemia, with a high probability of success. As such, the risk/reward scenario for the stock is attractive, considering the potential for a transformational year ahead.

    On April 3, the company announced that it had completed the rolling biologics license applications (BLAs) to the Food and Drug Administration (FDA). The BLAs seek to gain approval for the investigational treatment exagamglogene autotemcel in order to treat sickle cell disease and transfusion-dependent beta-thalassemia.

    CRSP is up 23% year to date and has an average price target of $84.19 among all 26 analysts with coverage of the stock. That implies an upside of about 67%. Shares rose this week by about 12% as a result of a more than 60,000 share purchase by Cathie Wood’s ARK Invest.

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    Kymera Therapeutics (KYMR)

    Kymera Therapeutics is a promising example of a biotech stock worth considering, with the market showing faith in its potential. KYMR’s share price has gained over 25% since the start of the year.

    Zooming out, KYMR has lost 17% of its value over the past 12 months, but it has been forming a series of higher lows since June of last year. Moreover, the company enjoys a strong balance sheet, with a cash-to-debt ratio of 23.49 times and an equity-to-asset ratio of 0.81 times, both of which outperform the majority of its peers.

    Analysts have a consensus moderate buy rating on KYMR, with an average price target of $58, suggesting an upside potential of almost 87%.

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    Axsome Therapeutics (AXSM)

    Axsome Therapeutics has two approved drugs on the market. Sunosi, a dopamine-norepinephrine reuptake inhibitor and the only one of its kind to treat narcolepsy, and Auvelity, a fast-acting oral treatment for depression, also the first of its kind. The latter launched in October and is being evaluated to treat agitation in people with Alzheimer’s disease and to help people quit smoking. For the treatment of central nervous system disorders and two others, it plans to submit for FDA approval this year.

    Share price sank more than 10% last month following the release of disappointing fourth-quarter earnings. The company incurred an adjusted loss of $1.28 per share and generated $24.4 million in revenues. Spending was up 227% year over year. But this increase was due to higher commercial activities for Sunosi and Auvelity, including sales force onboarding and marketing spending, which should pay off in the coming quarters.

    Other potential tailwinds include Axsome’s two other drugs — AXS-07 for treating migraines and AXS-14 for fibromyalgia — that it plans to submit for FDA approval this year.

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    Three Dividend-Paying Gold Stocks to Hedge Your Portfolio Against Growing Risks

    By
    Editorial Staff
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    0

    These gold stocks are poised to produce passive income and profits in the face of a weakening economy.

    Gold has been making headlines lately, with the spot price reaching a 52-week high of $2021.82 per ounce on April 4th. However, the price has since fallen and is hovering around the $2000 mark as investors await the release of crucial economic data and the latest Federal Reserve meeting minutes.

    Despite the short-term volatility, experts remain optimistic about gold’s long-term prospects. In fact, many believe that gold will continue to push higher in 2023. According to Bob Carlson, a pension fund chairman and leader of the Retirement Watch investment newsletter, gold is a “crisis hedge” that can protect investors against financial crises and political conflicts.

    As borrowing costs increase due to the Fed’s tight monetary policy, many investors are turning to gold as a safe haven asset. And with global political conflicts on the rise, there’s no doubt that gold will continue to be an attractive option for risk-averse investors.

    In this watchlist, we’ll highlight the top dividend-paying gold stocks that can provide investors with both capital appreciation and steady income. So, whether you’re a seasoned investor or just getting started, keep an eye on these top dividend-paying gold stocks as you navigate the gold market in the coming months.

    Franco-Nevada Corp (FNV)

    The precious-metals-focused Franco-Nevada owns a diversified portfolio of gold, silver, and platinum, along with their related royalty streams. The company does not operate mines, develop projects or conduct exploration. Instead, Franco-Nevada’s short-term financial performance is linked to the price of commodities and the production of its portfolio of assets. Mining royalty companies have large portfolios of mining companies as clients and therefore are typically less risky than owning one or two individual mining companies.

    Franco-Nevada is a strong contender in the mining financing business. The company offers a unique way to gain exposure to precious metals and has a diversified portfolio of assets without the risks associated with owning individual mining companies. With an annual cash flow of over $500 million and a 1% dividend yield, Franco-Nevada is fundamentally strong and, according to the experts, has the potential for a 20% upside in the next 12 months.

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    Newmont Mining (NEM) 

    Newmont Mining is the world’s largest gold mining operation, with mining sites in various countries, including the United States, Australia, and Canada. The company’s acquisition of Goldcorp in 2019 has added to its portfolio of mines and assets, with over 100 million ounces of proven and probable gold reserves, in addition to producing silver, copper, and zinc, as well as running a merchant banking operation. The stock is trading at a reasonable 15 times forward earnings.

    Hinging on no uptick in the price of gold, BofA forecasts Newmont’s earnings per share will rise from $2.85 in 2022 to more than $5 in 2023. With all-in costs of $1,150 per ounce, profits will grow dramatically if gold prices move higher. Investors also can be paid for their patience in holding the stock with a 3.3% dividend yield.

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    Triple Flag Precious Metals Corp. (TFPM) 

    Like Franco-Nevada, Toronto-based Triple Flag serves as a finance partner to facilitate the development and expansion of mining projects. With a focus on cash-generating mines and fully permitted projects that can produce cash flow within two years, the company seeks prudent investments in earlier stages of the mine life cycle to maintain exposure to development-stage assets and grow free cash flow per share over the long term. 

    While risks include precious metal price volatility, competition from the royalty and streaming sector, and ramp-up issues at its mines, catalysts could include higher-than-expected gold and silver prices, future exploration discoveries, and unexpected mine expansions and acquisitions. TFPM investors enjoy a 1.3% dividend yield.  

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    Three Gold Stocks for April 2023

    By
    Editorial Staff
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    0

    Gold has long been considered a reliable hedge against inflation and a safe haven for investors during uncertain times. With the recent economic turmoil and global uncertainty, many investors are turning to gold as a means of protecting their wealth. As a result, gold stocks are becoming increasingly attractive to investors looking to capitalize on the precious metal. Today, the price of gold is hovering around the $2,000 per ounce mark,  nearing its all-time high of $2,074.88, seen in August 2020.

    This recent move in precious metals may have more to run. Thus, investors appear to want exposure to gold in its various forms. We have identified three stocks that are currently attractive and well-positioned to benefit from the current market environment. These companies have shown strong growth potential and are poised to capitalize on the increasing demand for gold.

    Newmont Corporation (NEM)

    As a leading gold producer with operations in multiple countries worldwide, Newmont has a strong portfolio of assets and a proven track record of success. NEM is up 16% over the past month and will likely sustain solid momentum if the commodities price continues to rise. Gold miners often see increases far in excess of gold. That means that in bull market runs like this for precious metals; investors gain more upside. 

    Newmont has an investment-grade balance sheet and ended 2022 with a total liquidity buffer of $6.7 billion. Last year, the company delivered free cash flow of $1.1 billion. The stock trades at an attractive forward price-earnings ratio of 22.8 and offers a dividend yield of 3.3% with apparent headroom for healthy dividend growth in 2023. With a focus on operational excellence and sustainability, Newmont is well-positioned to continue generating solid returns for its investors.

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    Sandstorm Gold Ltd (SAND)

    SAND is a gold royalty company that provides upfront financing to gold mining companies in exchange for a percentage of the future production of gold. The company’s unique business model provides investors with exposure to gold prices without the risks and costs associated with traditional mining operations.

    Recent financial results have been impressive, with strong revenue growth and improved margins. Additionally, the company’s balance sheet is solid, with a healthy cash position and no long-term debt. Technically, SAND is showing bullish signals on the charts, with a 19% gain over the past month. The Relative Strength Index (RSI) is also in bullish territory, indicating that the stock has momentum on its side.

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    Barrick Gold Corporation (GOLD)

    As one of the largest gold mining companies in the world, Barrick has a diverse portfolio of mines located in some of the world’s top gold-producing regions, which helps to mitigate risks associated with any particular location. With a robust portfolio of assets and a track record of successful acquisitions. The company has a strong balance sheet and is focused on delivering value to its shareholders through operational excellence and strategic growth initiatives.

    Barrick Gold Corp is up 21% over the past month and may have room to run. Analysts give the stock a Buy rating, and an average price target is $21.74, which represents a 16% upside. Considering the current market environment and the positive signals surrounding GOLD, it seems like a conservative estimate.  

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    Why We Love Gold As An Investment

    By
    Editorial Staff
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    0

    Gold has been valued by humans for centuries for its aesthetic and intrinsic value. In recent times, gold has become a popular investment choice due to its perceived ability to hedge against inflation and economic uncertainty. In this report, we will discuss the reasons why gold is a good investment.

    1. Hedge against inflation: Inflation is a natural part of any economy, and over time, the value of money decreases due to inflation. In contrast, the value of gold remains relatively stable over time, making it an effective hedge against inflation. When inflation rates increase, the price of gold typically rises as investors seek to preserve their wealth.
    2. Safe haven investment: Gold is often considered a safe haven investment, meaning that it tends to hold its value during times of economic and geopolitical uncertainty. During times of crisis, investors tend to move their money out of riskier assets and into safer assets like gold. This has been seen during times of war, economic crises, and political instability.
    3. Diversification: Gold can be a valuable addition to a diversified investment portfolio. Diversification is important because it helps to spread risk and can provide a cushion against market volatility. When the stock market is down, gold prices tend to rise, making it a good option to have in your portfolio.
    4. Limited supply: Gold is a finite resource, and the supply is limited. Unlike paper currency, which can be printed endlessly, the amount of gold in the world is finite. As a result, the price of gold tends to rise over time as the supply becomes scarcer.
    5. Liquidity: Gold is a highly liquid asset, meaning that it can be easily bought and sold. This makes it an attractive investment option for those who want to be able to convert their investment into cash quickly and easily.

    In conclusion, gold can be a good investment option for those looking to hedge against inflation, diversify their portfolio, and provide a safe haven during times of economic and geopolitical uncertainty. While it is not without its risks, gold’s limited supply and ability to hold its value over time make it a popular choice for investors.

    To your wealth,

    Skip Swanson

    Three Stocks for the Week of April 3rd

    By
    Editorial Staff
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    0


    Markets wrapped up a volatile month and quarter with a significant divergence among the major indexes. Strength in technology stocks offset weakness in the financial sector, resulting in a 17% quarterly gain and a 4.5% gain in April for the tech-heavy Nasdaq. Meanwhile, the S&P 500 added 7.5% for the quarter and 1.6% for the month, and the Dow was up 0.9% in Q1 but lost a fraction of a percent in April.  

    Even after a hot start to 2023, some growth stocks are still way too cheap. This week’s first recommendation is a notable tech name with stellar cash flow and growth potential currently presenting an attractive risk-reward proposition.    

    Meta Platforms Inc. (META)

    One notable growth name that got hammered in 2022 is Meta Platforms Inc. The stock currently trades at less than 25x forward earnings. Still, with the most prominent family of apps and 4 billion users worldwide, META’s recovery this year has been swift. The ticker has stacked on 64% YTD. 

    Despite its recent rally, the social media leader’s stock is still down 46% from its high and looks cheaply valued for long-term investors. Meta’s incredible cash flow and balance sheet also afford it the ability to take chances and invest in things like the metaverse. The company closed out 2022 with $30.8 billion in net cash, cash equivalents, and marketable securities. Further, it generated $42.7 billion in operating income from its family of apps. 

    Meta trades at under 20 times the expected annual profit and four times expected sales. With a core business that has held up well against intense pressures, underappreciated potential for success in the metaverse, and shares trading at multiples that leave room for significant upside, Meta stock continues to look undervalued.

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    StoneCo Ltd. (STNE)

    Brazilian digital payments company StoneCo Ltd. (STNE) provides back-office software, loans, and other financial services to small and medium-sized businesses. Last month, a Brazilian central bank survey showed economists expect rate cuts to start in November. Last week, the country’s central bank kept its benchmark rate at 13.75% despite pressure from President Luiz Inácio Lula da Silva’s government to ease borrowing costs. STNE could yield some big gains for investors as interest rates come down in Brazil.

    StoneCo’s share price has gotten crushed in the last two years. In 2021, it fell a whopping 79.9%. In 2022, it dropped 44% as growth and tech names languished. The stock is up nearly 12% in 2023 and seems likely to continue its upward trajectory as economic policy eases in Brazil. Despite the recent rally, shares are still cheap at just 14.9 times the amount of free cash flow its operations generated over the past year. STNE has a Hold rating from the pros who cover it and a median target price of $12.33, representing a 32% increase from Wednesday’s closing price.  

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    Axsome Therapeutics (AXSM)

    Axsome Therapeutics has two approved drugs on the market. Sunosi, a dopamine-norepinephrine reuptake inhibitor and the only one of its kind to treat narcolepsy, and Auvelity, a fast-acting oral treatment for depression, also the first of its kind. The latter launched in October and is being evaluated to treat agitation in people with Alzheimer’s disease and to help people quit smoking.    for the treatment of central nervous system disorders and two others that it plans to submit for FDA approval this year.

    Share price sank more than 10% last month following the release of disappointing fourth-quarter earnings. The company incurred an adjusted loss of $1.28 per share and generated $24.4 million in revenues. Spending was up 227% year over year. But this increase was due to higher commercial activities for Sunosi and Auvelity, including sales force onboarding and marketing spending, which should pay off in the coming quarters.

    Other potential tailwinds include Axsome’s two other drugs — AXS-07 for treating migraines and AXS-14 for fibromyalgia — that it plans to submit for FDA approval this year.

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    Three Stocks to Avoid or Sell Next Week

    By
    Editorial Staff
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    0

    Seeking out great stocks to buy is important, but identifying quality investments is only half the battle. Many would say it’s just as essential for investors to know which stocks to steer clear of. A losing stock can eat away at your precious long-term returns. So, figuring out which stocks to trim or get rid of is essential for proper portfolio maintenance.  

    Even the best gardens need pruning, and our team has spotted a few stocks that seem like prime candidates for selling or avoiding. Continue reading to find out which three stocks our team is staying away from this week.

    Bed Bath & Beyond (BBBY)

    The home goods retailer is staving off bankruptcy by raising capital from selling its preferred stock and warrants. But, unfortunately, this action may prolong its inevitable bankruptcy. 

    In early 2021 BBBY’s share price rose to more than $35.  Two years later, it’s below $1 per share and is one of the most heavily shorted stocks in the market. The company is struggling to keep up against retail heavy-hitters like Walmart and Target, and it will only worsen with Bed Bath continuing to close retail locations.

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    Ascent Solar Technologies (ASTI) 

    The photovoltaic specialist carries significant implications for the solar energy industry. With society gravitating toward clean and renewable energy solutions, ASTI should be enjoying extraordinary relevance. Unfortunately, its narrative hasn’t been so fortunate. Year to date, ASTI share price is down 72%. In the trailing year, it’s down almost 96%.   Glaringly, its three-year revenue growth rate sits at 90.3% below parity. Profit margins have slipped to ridiculously negative rates while the balance sheet is a mess. Gurufocus.com warns that Ascent solar is a possible value trap.  

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    Big Lots (BIG)

    Shares in the big box retailer may be down by nearly 71% over the past 12 months. Some investors are still being tempted by its 10.82% dividend yield. However, with the company reporting a net loss of $7.30 per share and expected to stay in the red through 2024, it’s highly questionable whether BIG’s high rate of payout will continue for long.

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    Three Ways to Benefit from Weakness in the Financial Sector

    By
    Editorial Staff
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    0

    While the collapse of Signature Bank and Silicon Valley Bank sent shockwaves through the financial markets, it may be fueling a rebound elsewhere. 

    After panic ripped through markets, analysts are sounding the alarm on some stocks that have well overshot their downside. Moreover, some analysts have suggested that the added pressure on the financial sector could soften the course of future Fed rate hikes, which would likely help certain risk assets.

    Whether you’re looking for a short-term win or to strike up a long-term position at a great price, you’ll want to keep an eye on these assets in the coming days.   

    BTC

    Bitcoin bulls have claimed the digital currency is a way for investors to shield themselves against government moves, such as quantitative easing and looser monetary policy, which they say erodes the value of fiat currency. Industry insiders are saying that the anticipation of a slower pace of interest rate hikes from the Federal Reserve is helping bitcoin. Proponents also point to bitcoin’s finite supply as a critical feature of it being a store of value.

    “The events around the failure of SVB and other banks have also shone a spotlight on the power of decentralized currencies that people can fully custody and own,” said Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno.  “Decentralized finance is beginning to hit home in terms of a concept to many more people now.”

    Bitcoin is up more than 70% this year, beating major stock indexes and commodities.

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    Charles Schwab Corp. Common Stock (SCHW)

    Charles Schwab shares plunged 34% over the past month along with regional banks as traders worried that they would have to sell their bond holdings early at significant losses to cover deposit withdrawals, like Silicon Valley Bank. However, CEO Walt Bettinger said in an interview with CNBC that Schwab is still experiencing “significant” asset inflows.

    Credit Suisse analyst Bill Katz recently upgraded the brokerage firm to outperform from neutral, saying it’s time for investors to “take advantage of the sharp share price decline.” 

    “We expect the net new asset (NNA) story to remain robust and capital ratios to quickly rebuild as we look into 2024-25, with the current value giving investors an opportunity to step into a high-quality, large-cap secular beneficiary,” Katz wrote.

    The analyst’s $67.50 target price, down from $81.50 previously, means shares can rise another 24% from Friday’s closing price. The stock is down nearly 37% this year.

    [stock_market_widget type=”accordion” template=”extended” color=”#5679FF” assets=”SCHW” start_expanded=”true” display_currency_symbol=”true” api=”yf”]

    Ark Innovation ETF (ARKK)

    While most of Wall Street has been in panic mode amidst the banking crisis, Cathie Wood’s flagship Ark Innovation ETF (ARKK) reeled in $397 million in new money on Tuesday, March 14th, following the bank collapses, the biggest one-day inflow since April 2021, according to FactSet. Investors are piling into the innovation fund under the belief that the current banking chaos may cause the Federal Reserve to pull back on its rate hike campaign, which would benefit growth stocks. 

    “Once the Fed stops looking backwards at CPI inflation and starts addressing the deflationary banking crisis that a 19-fold increase in short rates and an inverted yield have caused, we would not be surprised to see a return to the Roaring Twenties,” Wood said in a tweet.

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