Wednesday, August 23, 2023

Ouch Foot Locker...

Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures rallied again on Wednesday. It was the third straight day in the green as investors await returns on AI giant Nvidia, a company that's become the belle of the ball around artificial intelligence hype. Analysts predict that Nvidia's second-quarter revenue may come higher than the forecast it gave three months ago.

In The War Room, we're currently testing out a paper trading strategy on Nvidia that could lead to live trades on the AI company in the future.

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Here's a look at the top-moving stocks this morning.

VinFast Auto Ltd. (Nasdaq: VFS)

VinFast is up 4.22% premarket after the Vietnamese electric vehicle start-up announced that the U.S. Environmental Protection Agency range ratings for its new all-electric VF 9 SUV were better than the company's initial estimates. Specifically, the VF 9 Plus version priced at $83,000 has been certified with an EPA range of 291 miles. VinFast has already strated deliveries of VF 9 SUVs and is taking reservations globally.

While the EV market has drawn a lot of hype in terms of offering a more environmentally-friendly way to travel, there's another breakthrough many investors might not know about. A recent development in nuclear technology has the potential to power 1 million homes… at one-tenth the size of a traditional power plant, and there's one $3 stock at the center of this technology.

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AMTD Digital Inc. (NYSE: HKD)

AMTD Digital is up 8.48% premarket after the Company's board of directors authorized a new share repurchase program. The program says the Company may repurchase up to $30 million of its American depositary shares or ordinary shares until the close of business on December 29, 2023.

 

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Foot Locker (NYSE: FL)

Foot Locker is down 27.24% premarket after its latest revenue miss. Similar to Dick's Sporting Goods yesterday, the sporting goods retailer also fell short of revenue estimates, though Dick's Sporting Goods blamed its revenue woes on increased shoplifting. Overall, Foot Locker had a net loss of $5 million, or 5 cents a share, for the quarter.

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Are we in a new gold bull market?

Right now with inflation doing a number on American's bank accounts, over 100,000 investors are buying up gold at a price not seen in years. Gold has outpaced some of the world's best assets like stocks, bonds and real estate.

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Those are the biggest stock movers for today.

Happy trading!

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