Friday, October 21, 2022

Oh Snap...

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures posted a third straight day of losses on Friday. Bond yields are higher and investors are still digesting the latest corporate earnings results. But despite the last few down days, equities are poised to end the week higher after a rally on Monday.

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Snap (NYSE: SNAP)

SNAP is down 26.69% premarket after its latest quarterly earnings report. Advertising slowdown and Apple privacy changes were among the culprits for a fifth straight quarterly deceleration. Average revenue per user came in at $3.11 vs. $3.17 estimate. SNAP's crash also dragged down Meta, Google and Pinterest as those stocks are also exposed to the online ad market.

With so many stocks tanking, it's important to consider alternative forms of investment.

Click here to see where some people are putting their money in these down markets.

 

Robert Half International (NYSE: RHI)

Robert Half International is down 10.37% premarket after missing third-quarter earnings estimates. The company delivered earnings surprises of -7.27% and 3.99%, respectively. Over the last four quarters, the company has surpassed consensus EPS estimates two times.

We're giving you another alternative investment from our Head Fundamental Tactician Karim Rahemtulla. There's reason to believe this $3 investment could be a wise move in these markets.

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Veris Residential (NYSE: VRE)

Veris Residential is up 17.95% premarket after the real estate investment trust confirmed an unsolicited proposal by Kushner Companies to acquire or externally manage the company for $16.00 per share. Veris Residential's Board of Directors is currently evaluating the proposal.

 

American Rebel Holdings (Nasdaq: AREB)

American Rebel Holdings is up 10.38% premarket after announcing it anticipates reporting approximately $5 million in pro forma Q3 gross revenue and approximately $14.7 million in pro forma revenue over the last nine months. The company expects to file with the Securities and Exchange Commission on or before November 14, 2022.

 

Do you know how to 'follow the money' to profits?

Tracking insider buying (the legal kind) can help you be ready for big swings in the market. And in today's tough times, this strategy could be the edge you need. Our Head Fundamental Tactician Karim Rahemtulla shows members how to see what the big money people are doing in his Insider Matrix.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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