Big Pops and Big Drops! Your weekly review of the top trending stocks (March 1-5)

This week saw a lot of market volatility in trending stocks. Some rallies were short lived while others remained fairly stable. Either way, if investors were able to get in early on some of the big movers this week they saw massive gains. Conversely, a lot of people were left holding the bag at new all time highs.

This list is a weekly recap of some of the biggest movers to both the upside and the downside. It also identifies some of the catalysts that produced these moves. All charts are 1 month charts. So let’s dive right in! No list would be complete without first talking about one of the most talked about stocks out there.

GameStop

  • GME was trending in the top three stocks all week and continues to be the most talked about meme stock.
  • Ryan Cohen, CEO and large share holder, is thought to have triggered a late rally on shares this week through his Twitter account. Investors hope that he can help to revitalize the company.
  • Online forums still point to a coming squeeze and anticipate the stock to skyrocket in price.
  • Diamond hands on Reddit are still holding this stock.

Palantir

  • Cathie Wood’s ARK ETFs added more than 2.6 million shares of Palantir this week. That news contributed to a Wednesday pivot point on the 5 day chart.
  • PLTR struggled to maintain that momentum as the week went on and dropped again on Friday.
  • Wall Street sentiment places PLTR with a $40 high, $23.50 average and $15 low price target.
  • This stock has been an online favorite for months, and is anticipated to continue trending online.

Tesla

  • Tesla is known for innovation and market firsts, the share price is no exception. It rocketed in value over the course of 2020 and in the past six weeks has broken another record. The biggest 6 week drop in value on the equities market ever.
  • Investors believed that $600 would be a strong resistance point, but at the end of trading on Friday the stock closed below.
  • Retail investors are still bullish on Tesla and value it as a pioneer in the EV space.

AMC

  • AMC prices slid this week as it was trending strongly online.
  • News broke early in the week that movie theaters are finally reopening and investors believe this will be a catalyst to boost the share price.
  • Because of the reopening news, AMC is becoming less of a meme stock and more of a Wall Street reopening play.

Super League Gaming

  • Super League Gaming rose sharply this week on heavy volume.
  • Investors believe that eSports will continue to gain in popularity and that SLGG is positioned to capitalize on that movement.

Tanger Factory Outlet Centers

  • Online investors seized an opportunity this week after identifying that shares of SKT were heavily shorted.
  • News of vaccine success and economic reopening also contributed to the rise in shares this week, as retail outlets become “more open” again.

Academy Sports and Outdoors

  • Another heavily shorted stock, Academy Sports and Outdoors had steady gains over the week.
  • Investors anticipate this stock to continue its upwards trend on great earnings and steady growth.

SOS Limited

  • SOS has been a popular bitcoin play for online investors this week, however some of the initial intrigue is beginning to fade.
  • The hype began around the company beginning a bitcoin mining operation but details have become scarce.

Fubo

  • FUBO fell this week on a bigger than expected fourth quarter loss.
  • Investors are still bullish on the stock as long as it reports steady user growth throughout the year.

BlackBerry

  • Retail investors continue their bullish sentiment on BlackBerry despite shares dropping in price all week.
  • BlackBerry is no longer a cell phone company. They now specialize in software security and several Wall Street investors believe that the growth in the EV market will drive BB stock upwards.

Fisker

  • After strong moves and doubling last week, Fisker dropped with other EV stocks at the end of this week.
  • Despite an upgrade mid week, shares were still down EOW.

Advanced Micro Devices

  • AMD began trending in the top 10 stocks after a week of falling prices.
  • As strong demand in CPUs and GPUs increases over this year, investors believe that the share price of AMD will follow.

Conclusion

These are stocks to add to your watchlist in the coming week to see how they perform. Especially after the market volatility on Friday, many of these stocks could see some upside in the coming week or weeks.

Some of the more popular trending stocks are expected to continue their reign on the top 10 trending stocks list but it is always nice to see newcomers on the list!

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Big pops and big drops on Wall Street this week. 🚀

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Necessary Disclaimer

This is not investment advice. There is no magical formula to determine if a stock is going up or down. There are indicators and other tools that investors can use at their own disposal to make their own decision on an investment. The best advice is to do your own research on a particular stock and make the judgement for yourself if you would like to invest. This website takes no responsibility for any potential gains or loses.

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