Thursday, May 23, 2024

Chip Champion Delivers Again...

Trade of the Day Wake-Up Watchlist

Good Morning Wake-Up Watchlisters! Hope you're drinking an extra coffee this morning. Stock futures were up after Nvidia announced stellar earnings (more on that below). Other chipmaker stocks also got a boost, including Advanced Micro Devices (AMD) and Broadcom (AVGO).

Yesterday our Head Trading Tactician Bryan Bottarelli got positioned to benefit from a sizable move on NVDA as part of his secret, backdoor play in The War Room.

Click here to unlock that trade.

 

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

Nvidia Corporation (Nasdaq: NVDA)

Nvidia is up 7.01% in premarket trading after the AI giant reported incredible earnings after much hype. The in-demand chipmaker reported nearly $28 billion in revenue, which topped the $26.8 billion predicted by analysts. Overall, the shares had gained 92% this year through Wednesday's close.

 

Vertiv Holdings (NYSE: VRT)

Vertiv is up 5.07% in premarket trading after launching its newest AI hub. The move will feature the industry's first AI reference design portfolio for critical digital infrastructure. It will allow partners, customers, and other website visitors to have access to expert information and successfully plan their AI-ready infrastructure.

We've been on VRT in Catalyst Cash-Outs as a major AI player since March and recently hit our 25% profit target.

Click here to unlock the VRT trade in our Catalyst Cash-Outs portfolio and get Bryan and Karim's next weekly pick today.

 

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V.F. Corporation (NYSE: VFC)

V.F. Corporation is down 15.65% in premarket trading after posting a fourth-quarter loss and revenue below analysts' estimates on Wednesday. Sales decliend across its brands, and shares have dropped 34.5% this year. Other clothing retailers like Calvin Klein, PVH Corp, and Tapestry are dealing with a sales slowdown as well.

Snowflake (NYSE: SNOW)

Snowflake is up 4.09% in premarket trading after a strong sales outlook for the current quarter beat estimates. Product revenue is projected to make $805 million to $810 million in the period ending in July, the company said Wednesday.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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