Wednesday, June 7, 2023

Top Investor Buys COIN Dip

Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures failed to build off Tuesday's gains as the flames of a hot megacap rally continue to die down. Apple, Nvidia and Microsoft all fell in premarket trading, showing signs that more air is coming out of the tech rally shares.

When stocks are pulling back like they are now, it gives investors the chance to look for buying opportunities. Our Lead Trading Tactician Bryan Bottarelli is always looking to help traders find new ways to make profits, and he recently discovered what he's calling "The Next Great American Index." It's a method that helps you trade only during a "Secret Profit Window" and it also limits your exposure when the markets are down (like they are today).

Click here to discover how this "Secret Profit Window" has netted returns as high as 1,700% over the last 30 years.

 

Gamestop (NYSE: GME)

Gamestop is up 2.55% premarket ahead of its latest earnings report. The gaming retailer is expected to benefit from major video game releases such as "The Legend of Zelda: Tears of the Kingdom" and "Hogwarts Legacy," potentially boosting its sales this year. However, the company's first-quarter earnings report, to be released after the market closes, might still face challenges in generating profits.

 

Coinbase (Nasdaq: COIN)

Coinbase Global is up 2.38% premarket. The stock was boosted by news of Cathie Wood increasing her stake in the crypto exchange. According to data from Cathie's Ark, three funds under Cathie Wood purchased over 400,000 shares in Coinbase, with the flagship ARK Innovation ETF accounting for most of the buying by adding over 300,000 shares. Coinbase's share price dropped by as much as 20% on Tuesday following the SEC's lawsuit against the company for operating an unlicensed exchange and issuing cease and desist letters related to its staking services.

While we're not big crypto fans at Monument Traders Alliance, we have reccomended COIN in the past in The War Room. Last week our Lead Fundamental Tactician Karim Rahemtulla took a 26.67% win on COIN in 50 trading days.

Click here to unlock that trade and learn how to take advantage of the crypto hype without investing in risky cryptocurrencies.

 

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Stitch Fix, Inc. (Nasdaq: SFIX)

Stitch Fix is up 7.07% premarket after earnings. The reported earnings for the company showed losses of $0.19 per share, which was better than the expected losses of $0.31 per share. Additionally, the company's revenue was reported at $394.9 million, exceeding the expected revenue of $388.74 million.

 

Yext, Inc. (NYSE: YEXT)

Yext is up 18.33% premarket after earnings. Shares of the marketing-software company surged following its first-quarter results, which exceeded expectations and led to an upward revision of its full-year guidance. The company is positioning itself as a player in generative artificial intelligence, which has contributed to its success. Additionally, the company has benefited from workforce reductions, further bolstering its performance.

 

Does the perfect stock exist?

Our friend Alexnader Green thinks so. The truth is many families fund their entire retirement on a single stock play. And right now he's showing traders how $4 investment could be the cornerstone of your portfolio. This company is expected to generate more slaes than IBM, Facebook and Tesla, yet it trades for a fraction of those stocks.

Click here to see his track record and why he believes this stock could be "The Perfect Stock."

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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