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Tesla (TSLA) - Tesla (TSLA) exploded into the $1,500's on Friday after it managed to break through its old record high. Tesla is rising due to the following news:
- Record Q2 Deliveries
- Earnings Estimates are too low
- Fully autonomous technology is closer than people think
- Bearish analyst Goldman Sachs put a floor on the stock with a $1,300 price target
- Tesla could be added to the S&P 500 with a profit
- $20 billion worth of stock is sold short; shares a scare due to long term holders
- Tesla (TSLA) is the next Apple (AAPL) and Amazon (AMZN) 5-10 years from now
While the price is high, shares are scarce and many of the talking heads who missed this story have been bearish since $500. Tesla (TSLA) should be included in the S&P 500 soon and I'm expecting shares to hit $1800 at some point in 2021. While this price target now looks too low, I may have to revise later this year based on different events. More on TSLA....
Virgin Galactic (SPCE) - Virgin Galactic (SPCE) exploded up to $20 but then sold off back to $19. I love this stock long term and I'm expecting more big news later this fall as the company gets ready to send passengers to Space. SPCE is a strong buy in the $15's for the long term.
Hyliion (SHLL) - Hyliion (SHLL) will IPO and begin trading under the ticker symbol HYLN in about two months. I purchased this stock around $18 recently as I view shares very cheap compared to Nikola (NKLA) which has no sales. I sold a little bit in the $30's and started buying those back to hold into the HYLN IPO.
Beyond Meat (BYND) - Beyond Meat (BYND) has been dropping lately as traders move to other stocks and analysts doubt this company again. While my $150 price target has been met, I will be looking to add more stock on a drop below $130. All eyes will be on earnings in three weeks. More on BYND.....
Grayscale Bitcoin Trust (GBTC) - GBTC is forming a base after the Bitcoin halving event cut the new supply in half. I'm bullish on Bitcoin and GBTC for the rest of 2020. GBTC remains a strong buy on all major pullbacks.
nCino (NCNO) - nCino (NCNO) will likely be the next big IPO in the stock market. Expected to open for trading next week - https://daytradingstockblog.blogspot.com/2020/07/ncino-ncno-stock-ipo-cloud-software-for.html
Other stocks to buy and hold for the long term - Shake Shack (SHAK), Amazon (AMZN), Chipotle (CMG), Starbucks (SBUX), Apple (AAPL), Disney (DIS), Netflix (NFLX).
Check out my Top Stocks 2021
