July 13, 2020 - The stock market has been trending up again as we get ready for earnings season. Below are some amazing stocks to buy if you are looking to put money to work or looking to switch into high quality growth stocks.
Follow Me on Twitter -
@StocksToBuy
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
