Weekly Stock Market Recap + Big Basmati Rice Profits
Markets finally settled into a solidly bullish trading pattern this week after months of violently volatile back-and-forth. Lessening geopolitical tension in North Korea, easing concerns over an accelerated pace of monetary tightening, and a truly great earnings season are all contributing to the market’s renewed confidence. Energy stocks were the center of the rally this week, with rising oil prices set to boost the bottom line for oil firms.
That said, there are signs that the volatile environment is set to persist. Many stocks continue to explode after posting earnings beats, only to fade in subsequent days trading.
Of course, these sorts of trades are the perfect target for opportunistic, news-based stock traders. You can learn more about we continue to use the news (and huge quantitative database) to find market-beating profits in one of our free virtual learning sessions. Attending is totally free, and attendees receive some foundational tips for news-based trading and a free tour of our platform. You can claim a space using the button below:
Weekly Stock Market Recap:
On Monday, we took a look at a company that makes cloud-connected charging stations for electric vehicles. Their stock was skyrocketing after Whole Foods selected their chargers for inclusion in future stores. The stock is now up over 300% since our news alert. (NASDAQ
Wednesday, an international cargo ship firm jumped dramatically after posting improving financials. (NASDAQ
Bonus Friday Top Performer: Amira Nature Foods (NYSE
Amira Nature Foods sources, processes and sells specialty Indian rice, chiefly Basmati rice. They also market a number of secondary organic/health food products under the Amira name. Their stock posted a huge bump up today after being upgraded by the analysis group at S&P Equity Research.
S&P Equity upgraded their price target for Amira from $2.65 to $3.25, sending the stock near the $3.00 mark in short order. This movement represents current gains around 60%, fluctuating as high as 80%. The gains are welcome news for Amira, which has retreated from highs over $12 as recently as last spring. Substantial upside could remain: some high profile analysts maintain price targets above $8.00 on the rice stock.